Reference no: EM132806483
Questions -
Q1. Consultants had the following balances before passing adjusting entries in the books on December 31, 2015.
Cash $6,000 Deborah, Withdrawals $3,000
Accounts Receivable 2,000 Service Revenue 10,600
Office Supplies 1,800 Salaries Expense 4,000
Equipment 15,000 Rent Expense 800
Accumulated Depreciation- Depreciation Expense-
Equipment 9,000 Equipment 1,500
Deborah, Capital 15,000 Supplies Expense 500
Prepare the adjusted trial balance after considering these adjustments:
a. Office Supplies used, $800. Assume the office supplies were initially recorded as an asset.
b. Accrued salaries on December 31, $600.
c. Revenue accrued but not recorded, $200.
Q2. A business hired a repairman to overhaul their plumbing system. The repairman began work on September 15 and completed it on October 15. The business agreed to pay him $4,000 when the work was completed. As of September 30, the work was 50% complete and the business made an adjusting entry to accrue repair expense as of the end of September. On October 15, the work was completed and the business paid the repairman in full. Provide the journal entry for the cash payment on October 15.
|
Describe the psychological and structural elements
: Recognize and apply the difference between intrinsic and extrinsic rewards and Describe the psychological and structural elements of empowerment
|
|
What would the net income reported on comparative financial
: What would the net income reported on comparative financial statements issued at 12/31/22 be for the years 2019, 2020, and 2021?
|
|
Explanation of the value and purpose of it audits for scope
: Imagine you are an IT manager at Gail Industries. The company has a client, Smallville Collections Processing Entity (SCOPE), which requires an annual IT audit.
|
|
Critically evaluate the investment selection process
: Critically evaluate the investment selection process that was in place then, and contrast it with what faces the firms of today.
|
|
Provide the journal entry for the cash payment on October
: On October 15, the work was completed and the business paid the repairman in full. Provide the journal entry for the cash payment on October 15
|
|
Behavioral Approach To Leadership
: Find one online or published article from within the last two to three years. how it extends one of the concepts in a chapter,
|
|
What ethical or legal issues exist
: While in the coffee shop, you overhear someone talking about an RFP (Request For Proposal), and you realize it is the same project for which your team.
|
|
How do you prepare budget
: How do you prepare budget? What monitoring techniques should be used to evaluate the success of your budget?
|
|
What amount did cathy invest six months ago
: What amount did Cathy invest 6 months ago that will give her $6,492.45 3 years from today? Her investment pays 3.5% compounded semi-annually.
|