What would be the total amount of expenses for the month

Assignment Help Financial Accounting
Reference no: EM133004584

Question - ABC Company had the following transactions during the month. What would be the total amount of expenses for the month if ABC Company uses the accrual basis?method?

a. On the first of the? month, paid $3,600 for insurance for the next 12 months.

b. Received $1,200 for services to be performed equally over the next 12 months.

c. Paid $500 for the current? month's rent.

d. Paid $300 cash for office supplies.

e. Paid $700 in Salaries Expense.

f. Received $1,500 in cash for service revenue earned this month.

Reference no: EM133004584

Questions Cloud

Calculate the fixed-charged coverage : Calculate the Fixed-Charged Coverage. The management of National Utility Company has applied for a $550,000 commercial loan
Explain why margin accounts are required : Explain why margin accounts are required when clients write options but not when they buy options.
Commitments and securitization facilitate market : Explain how loan commitments and securitization facilitate market completeness. Why is this valuable in a return/risk context for the lender and the borrower (i
What marginal tax rate would be indifferent : Which one should you choose and why? At what marginal tax rate would you be indifferent to the choice between California and ExxonMobil bonds?.
What would be the total amount of expenses for the month : ABC Company had the following transactions during the month. What would be the total amount of expenses for the month
Develop mission statement focused on profit maximization : Imagine yourself as the financial manager of a small firm. Develop mission statement focused on profit maximization. What other considerations may be ignored if
Calculate the debt ratio for york manufacturing : Calculate the Debt Ratio. Should a loan request for $350,000 be approved by the commercial loan officer if the company had requested one?
Which should take a maximum of 10 minutes : You are required to complete this 'role play' as part of the oral assessment', which should take a maximum of 10 minutes. You may ?nd use of the Fact Find docum
What is nec cost of common equity : Northwest Electric Company's (NEC) capital structure comprises of debt and common equity only in the proportion of 0.40 and 0.60 respectively. Cost of debt of N

Reviews

Write a Review

Financial Accounting Questions & Answers

  What will be the profit of the call

If the share is trading at $18 in six months, what will be the profit of the call? You own a call option on a Brambles share with an exercise price of $12.

  Calculate the unit cost that Furniture Ltd should use

Calculate the unit cost that Furniture Ltd. should use in the costing of wood frames, using the perpetual inventory system

  Find how much will pay for the property

Find How much will you pay for the property if you believe its market risk is the same as the market portfolio's? The T-bill rate is 4%, and the expected

  Distinguish between assurance and attestation services

Audits typically consist of three phases: Planning; Fieldwork; Reporting. Describe activities that accompany each phase. Distinguish between Assurance and Attestation Services. What is a Peer Review and how and when are they performed? Why does gover..

  How is total asset turnover calculated

Your original posting must be at least 250 words and your English usage must be correct. Comment on the postings of 2 other students. These comments must be at least 50 words long and should critique what the other students have said.

  Determine total production cost per unit for each product

Using direct labor hours as the basis for assigning overhead costs, determine total production cost per unit for each product line.

  Prepare the slides and notes for presentation

Prepare the slides and notes for your presentation following the format below. Your presentation should be limited to a maximum of five slides.

  What is the total amount will pay for the television

If the annual interest rate paid on the annuity is 4.5%, how much money will they need to deposit each month to reach this goal?

  Have faster and better financial information

Have "faster, better" financial information and models been translated to faster strategic decision-making by Boards of Directors?

  Construct all journal entries relative to uncollectible

Construct all appropriate journal entries relative to uncollectible accounts and bad debt expense. Show the year-end balance sheet presentation for accounts

  ?what is the amount of sales tax liability as of december

?What is the amount of the sales tax liability as of December 31, 2018? Cash sales for November 2018 were $64,500 plus sales tax of 8 percent.

  Discuss reasons why Apple may have not paid dividends

Discuss in detail the reasons why Apple may have not paid dividends over the past 17 years, and the reasons why it has now decided to do so

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd