A review of the ledger of Remina Company at December 31, 2017, produces the following data pertaining to the preparation of annual adjusting entries.

1. Prepaid Insurance $10,680. The company has separate insurance policies on its buildings and its motor vehicles. Policy B4564 on the building was purchased on April 1, 2016, for $8,640. The policy has a term of 3 years. Policy A2958 on the vehicles was purchased on January 1, 2017, for $4,200. This policy has a term of 2 years.

2. Unearned Rent Revenue $345,600. The company began subleasing office space in its new building on November 1. At December 31, the company had the following rental contracts that are paid in full for the entire term of the lease.


Date Term (in months) Monthly Rent Number of Leases
Nov. 1 9 $5,400 4
Dec. 1 6 $8,400 3

3. Notes Payable $130,000. This balance consists of a note for 9 months at an annual interest rate of 9%, dated November 1.
4. Salaries and Wages Payable $0. There are 9 salaried employees. Salaries are paid every Friday for the current week. 5 employees receive a salary of $750 each per week, and 4 employees earn $500 each per week. Assume December 31 is a Tuesday. Employees do not work weekends. All employees worked the last 2 days of December.

Required:
Prepare the adjusting entries at December 31, 2017.

Answers

Answer 1

Answer:

1)

December 31,2017, insurance expense

Dr Insurance expense 2,880

    Cr Prepaid insurance - Policy B4564, 2,880

December 31,2017, insurance expense

Dr Insurance expense 2,100

    Cr Prepaid insurance - Policy A2958, 2,100

2)

December 31,2017, rental revenue

Dr Unearned revenue 10,800

   Cr Rental revenue 10,800

December 31,2017, rental revenue

Dr Unearned revenue 8,400

   Cr Rental revenue 8,400

3)

December 31,2017, interest expense

Dr Interest expense 1,950

    Cr Interest payable 1,950

4)

December 31,2017, wages expense

Dr Wages expense 2,300

    Cr Wages payable 2,300


Related Questions

A bank is preparing a financial asset for trading in the over-the-counter market. It most nearly sounds as though they are _____. securitizing securitizing collateralizing a loan collateralizing a loan creating a derivative creating a derivative offsetting negative risk

Answers

A bank is preparing a financial asset for trading in the over-the-counter market. It most nearly sounds as though they are a derivative offsetting negative risk. The correct option is D.

What are over-the-counter financial instruments?

OTC securities are those that are not listed on a national securities exchange. The majority of these securities are traded on Alternative Trading Systems (ATSs), which are quotation mediums that may include electronic interdealer quotation systems that show quotes from broker-dealers for many OTC securities.

In over-the-counter markets, trading is done electronically rather than in a physical location. An auction market system is very dissimilar from this. Dealers serve as market makers in OTC markets by quoting prices at which they will buy and sell securities, currencies, or other financial products.

Thus, the ideal selection is option D.

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Consider this scenario: “Your supervisor asks you to prepare a five-slide presentation for a brief executive training session. Company executives have new laptops with PowerPoint 2013 installed and he wants you attend the next training session to discuss PowerPoint document properties and demonstrate how to set them.” What information will you include in your presentation?

Answers

Since, the Company Executives have new laptops with PowerPoint 2013 installed , I would demonstrate the properties of PowerPoint 2013 in the presentation.

What is PowerPoint 2013 ?

PowerPoint 2013 is a presentation software that allows you to create dynamic slide presentations. Slideshows can include animation, narration, images, videos, and much more.

The presentation will contain all the features of the PowerPoint and how to use them. The features include Presenter View, Color Picker, Play From and Motion Path End, Threaded comments, Switching accounts / SkyDrive integration.

Therefore, the presentation for the training session will include features about PowerPoint 2013 and how to use them.

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All of the following options represent primary goals of government spending EXCEPT... A. National Parks maintenance
B. Military
C. Public school education
D. Innovative consumer products

Answers

All of the following options represent primary goals of government spending except D. Innovative consumer products

What is the goals of government spending ?

It should be noted that the Government Spends Money in order to provide services, such as defense, roads, and bridges, as well as merit-based amenities like hospitals and schools,,

However this can encompass  welfare payments and benefits like unemployment and disability insurance.

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Which type of car insurance policy usually has the highest premium?

Which type of car insurance policy usually has the highest premium?

Answers

Comprehensive car insurance policy usually has the highest premium among all the other types of car insurance policies. Hence the correct answer is A.

Comprehensive car insurance is an optional coverage that provides protection against damage to your vehicle from various risks such as theft, vandalism, fire, and natural disasters. It also covers damages to your car from collisions with animals. Comprehensive car insurance provides broader coverage than liability insurance, including damage to both other people and property and your own car, making it more expensive.

Therefore, comprehensive car insurance policy usually has the highest premium among all the other types of car insurance policies. Hence the correct answer is A.

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Which of the following sector has seen the biggest change in its target market demographics?
O cruise line sector
O lodging sector
O car rental sector
O foodservice sector

Answers

Answer:

The correct answer is the cruise line sector.

Explanation:

However, the average age of cruise passengers in North America, as well as their income, has been dropping since the early 1970’s.

Which of the following is true if you find a better rate on an external 3rd party channel within 24 hours of making a reservation through one of Marriott's direct channels?

Answers

If you find a better rate on an external 3rd party channel within 24 hours of making a reservation through one of Marriott's direct channels, the Marriott’s Best Rate Guarantee policy comes into effect.

Marriott’s Best Rate Guarantee policy is a commitment to providing the lowest rate possible. If you find a lower rate within 24 hours of booking through one of Marriott’s direct channels, Marriott will match that rate and offer an additional discount of 25%.

This policy applies to any Marriott brand including Ritz-Carlton, St. Regis, Westin, Sheraton, Aloft, and othersYou need to first book your reservation through Marriott’s direct channels like Marriott.com, the Marriott Mobile app, Marriott Bonvoy app, the Marriott Reservation Center, or directly with the hotel.

After that, you should look for lower rates on other third-party websites. If you find a lower rate within 24 hours, contact Marriott’s Customer Care team, and they will match that rate plus an additional discount of 25%.The policy does come with some terms and conditions.

The lower rate you find on the third-party website must be for the same hotel, same room type, same dates, same number of guests, same currency, and with the same booking conditions. It also excludes rates that are only available to members of certain groups or organizations, package rates that include flights, car rentals, and other amenities, and rates that are not available to the general public

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Free contract is the _____.

Answers

Answer + Explaining:
In economics, free contract is the concept that people may decide what agreements they want to enter into. A contract may be described as free when it is free from force or fraud.

Money serves as a standard of deferred payment when A. sellers are willing to accept it in exchange for goods or services. B. payments agreed to today but made in the future are in terms of money. C. it can be easily stored today and used for transactions in the future. D. All of the above are examples of money serving as a standard of deferred payment

Answers

Money serves as a standard of deferred payment when payments agreed to today but made in the future in terms of money.

The function of standard of deferred payment performed by money relates to the function of valuing of debt which allows loan, goods and services to be acquired now and paid for in the future.

When customer takes a goods on credit, this is possible because money allows to value and take a debt for future repayment.

Therefore, the Option B is correct because its serves as a standard of deferred payment when payments agreed to today but made in the future in terms of money.

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What is organization? Explain elements with definition.

Answers

Answer:

An organisation is a business that has grown so big that it earns a lot of money

Explanation:

I need help with this, struggling
no links please!!

The subject is Economics/Business.

I need help with this, struggling no links please!! The subject is Economics/Business.

Answers

Answer:

The answer is producers need to know what consumers want so they can sell more and make more profit.

Answer:

last option is correct

Explanation:

its definitely correct. trust me.

Beverly Mills has decided to lease a hybrid car to save on gasoline expenses and to do her part to help keep the environment clean. The car she selected is available from only one dealer in the local area, but that dealer has several leasing options to accom-modate a variety of driving patterns. All the leases are for 3 years and require no money at the time of signing the lease. The first option has a monthly cost of $330, a total mileage allowance of 36,000 miles (an average of 12,000 miles per year), and a cost of $0.35 per mile for any miles over 36,000. The following table summarizes each of the three lease
options:
(See photos below)

Beverly Mills has decided to lease a hybrid car to save on gasoline expenses and to do her part to help

Answers

Beverly Mills has three leasing options to choose from. Each of these options differs in terms of the monthly cost, the total mileage allowance, and the cost for any miles over the set mileage allowance. Depending on her driving patterns, Beverly Mills can select the option that suits her the best.

Beverly Mills decided to lease a hybrid car to save on gasoline expenses and to do her part to help keep the environment clean. The car she selected is available from only one dealer in the local area, but that dealer has several leasing options to accommodate a variety of driving patterns.All the leases are for 3 years and require no money at the time of signing the lease.

The three lease options available to Beverly Mills are as follows:

Option 1:Monthly cost: $330Total mileage allowance: 36,000 miles (an average of 12,000 miles per year)Cost for any miles over 36,000: $0.35 per mile

Option 2:Monthly cost: $460Total mileage allowance: 45,000 miles (an average of 15,000 miles per year)Cost for any miles over 45,000: $0.45 per mile

Option 3:Monthly cost: $540Total mileage allowance: 60,000 miles (an average of 20,000 miles per year)Cost for any miles over 60,000: $0.55 per mile

Therefore, Beverly Mills has three leasing options to choose from. Each of these options differs in terms of the monthly cost, the total mileage allowance, and the cost for any miles over the set mileage allowance. Depending on her driving patterns, Beverly Mills can select the option that suits her the best.

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two ways in which young entrepreneurs can benefit from Black Industry Scheme​

Answers

Answer:

Two ways in which young entrepreneurs can benefit from the Black industrialist scheme are as follows: To gain the access to the private banking sector and finance, by equipping with the necessary equity BIP will enhance Black Manufacturing enterprises

You want to start a Business, but you are unaware about the Business risk. Analyze the factors that cause Business risks.

Answers

Answer:

Business risks can be caused by a variety of factors, including economic conditions, market fluctuations, regulatory changes, and natural disasters. It's important to understand these risks before starting a business so that you can take appropriate measures to mitigate them.

Explanation:

The workers health , are u financially enough to do
The business , u gotta pay the workers

: For a firm operating in a competitive industry, which of the following statements is not correct? Select one O a. Price equals average revenue O b. Price equals marginal revenue O c. Total revenue is constant. O d. Marginal revenue is constant

Answers

For a firm operating in a competitive industry, 'total revenue is constant'.

What exactly is Revenue?

Revenue is the money a business earns from the sale of goods or services. It is the total amount of income generated by the sale of products or services related to the company's primary operations. It is a key measure of a company's performance and is usually reported on a quarterly or annual basis.

In a competitive industry, firms are competing with each other for customers and their prices are driven down. This results in less money being received for each unit of goods or services that is sold, meaning that the total revenue for the firm will remain the same, regardless of how many units are sold. This is because the price of each unit is driven down by competition, offsetting any increase in units sold.

Hence, option C is correct.

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Michael's Machine Shop reports the following information for the quarter.
Sales price $70
Fixed costs (for the quarter)
Selling and administrative 47,620
Production 142,860
Variable cost (per unit)
Materials 18
Labor 15
Plant supervision 8
Selling and administrative 9
Number of units (for the quarter) 23,810 units
Required:
Select the answer for each of the following costs.
a) Variable cost per unit.
b) fixed cost amount
c) breakeven point
d) expected sales

Answers

Answer:

Results are below.

Explanation:

First, we need to calculate the variable cost per unit:

Variable cost per unit= Materials + Labor + Plant supervision + Selling and administrative

Variable cost per unit= 18 + 15 + 8 + 9

Variable cost per unit= $50

Now, the fixed cost:

Fixed costs= Selling and administrative + Production

Fixed costs= 47,620 + 142,860

Fixed costs= $190,480

To calculate the break-even point in units, we need to use the following formula:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 190,480 / (70 -50)

Break-even point in units= 9,524

Finally, the expected sales:

expected sales= 23,810*70

expected sales= $1,666,700

What generalization can be made according to the information from the USDA on agricultural productivity from 1948 to 2000?
A U.S.agricultural total factor productivity has decreased, while input has increased.U.S.agricultural total factor productivity has decreased, while input has increased.
B U.S. agricultural total factor productivity growth has exceeded agricultural input growth.U.S. agricultural total factor productivity growth has exceeded agricultural input growth.
C U.S. agricultural input has more than doubled in the last 50 years.U.S. agricultural input has more than doubled in the last 50 years.
D U.S. agricultural output has exceeded total factor productivity in the last 50 years.

Answers

The generalization that can be made according to the information from the USDA on agricultural productivity from 1948 to 2000 is B. U.S agricultural total factor productivity growth has exceeded agricultural input growth

What is agricultural productivitym

Research and development, extension, education, infrastructure, and government initiatives are the most significant sources of productivity change in agriculture.

The ability to produce enough food is a key element of food security. A significant strategy to reduce the amount of land required for farming and to slow environmental deterioration and climate change caused by processes like deforestation is to increase agricultural production through sustainable techniques.

In this case, the agricultural total factor productivity growth has exceeded agricultural input growth in the United States. This was due to the funding of the sector as well as the research and development.

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Task 1: Wholesale and Retail Customers

Using a product of your choice list three ways in which sales to wholesale customers would
differ from sales to retail customers.

Type your response here:

Task 2: Pyramid Scheme

Herbalife is a multilevel marketing company that has recently come under criticism from
investors as being nothing more than a pyramid scheme. Using online research, summarize
both sides of this argument in about 300-400 words.

Type your response here:

Answers

Who buys the products that are for sale is a major difference between retail and wholesale. The end user or consumer buys the product directly from the retail store in a retail setting. Instead of selling directly to customers, a wholesaler sells goods to other retail establishments.

What is the contrast between a retail and discount credit might you at any point site a model?

Who buys the goods being sold is a major difference between retail and wholesale. The consumer, or end user, buys the product directly from the retail store in a retail setting. A wholesaler, on the other hand, sells goods to other retail stores rather than directly to customers.

What is retail trade and wholesale trade?

Retail businesses also sell products, but unlike wholesalers, retailers sell products to the general public in small quantities for personal or household consumption. Retailers sometimes sell products to organizations and businesses.

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Answer:

I answered task 1 and gave a video for task 2

Explanation:

I chose to do Shirts as the product of my choice. The first way in which way sales to wholesale customers would differ from sales to retail customers would be wholesale customers buying the shirts in bulk for a discounted price, while retail customers buy from the wholesale customers and sell the shirts to the final buyer. The second way that wholesale customers are different from retail buyers is wholesale customers sell to owners and businesses while retail customers deal with customers and plain Janes. Wholesale and retail customers have big differences as retail customers aim towards 30 % to 50 % profit.

(Please just use this as an idea, you don't learn from cheating!)

Task 2: Use this video there is a ton of information!

https://slidebean.com/story/is-herbalife-a-pyramid-scheme

Liquidity ratios indicate the degree to which a firm can
A.generate sufficient profit from its assets.
B.produce adequate dividends.
C.satisfy its creditors in a timely fashion.
D.finance its assets.

Answers

Answer:

A

EXPLANATION:

Explore the impact of the traditional approaches to Labour Relations and evaluate how they impact on the interactions and nature of the relationship of the parties to the labour relationship. Include the role of the state in your answer.

Answers

Effective, motivated, and productive staff lead to increased output levels. Over 40% of Fortune's top 100 "America's Best Companies to Work For" are also on the Fortune 500.

I hope this helps you
(:

a project partner suggests you make several time consuming edits to your project the day before the deadline, even though she's had the opportunity to review your work all along. would would you do? check all that apply. A review her suggestions and tell her you'll prioritize the most important ones. B suggest that she should have made her suggestions sooner. C message her to tell her you won't have time to address the edits. D thank her for her suggestions but keep the work as it is. E ask for her help addressing the edits​

Answers

Answer:

A and E

Explanation:

Considering the scenario described in the question, the right action to take in this event are:

1. review her suggestions and tell her you'll prioritize the most important ones: due to deadline which is nearby, the best thing to do during review is to ensure the study is done to the essential part of the project

2. ask for her help addressing the edits​: because she's had the opportunity to review the work all along. And she is the one that suggested time-consuming modifications; it is ideal to ask for her input or help make the necessary edits so it will be faster, as she may have seen the needed improvements.

Hence, the correct answer is options A and E.

The December 31, 2015, balance sheet of Schism, Inc., showed long-term debt of $1,405,000, and the December 31, 2016, balance sheet showed long-term debt of $1,590,000. The 2016 income statement showed an interest expense of $94,500. What was the firm's cash flow to creditors during 2016?

Answers

Answer: ($90,500)

Explanation:

The Cashflow to Creditors helps a company identify just how much cash was paid to creditors in a period.

The formula is,

Cash flow to creditors = Interest paid – (long term debt at the end – long term date at the beginning)

The ending balance in 2015 which will be the opening balance in 2016 is $1,405,000.

The Ending balance in 2016 is $1,590,000.

The Cash Flow to Creditors is therefore,

Cash flow to creditors during 2016 = 94,500 - ( 1,590,000 - 1,405,000)

= - $90,500

Interviews in which the interviewer adapts his or her line of questioning based on the answers you give and any questions you ask are known as ________ interviews. Group of answer choices panel stress behavioral unstructured situational

Answers

Answer:

unstructured interviews.

Explanation:

Unstructured interviews are also called open-ended interviews. The questions asked in such type of interviews are not structured or pre-determined. Unstructured interview is based on your answers to the interviewer. The interviewer will not prepare any questions in advance, poses random questions instead. The interviewer might ask general questions but can also ask certain random questions or move to certain subjects depending on the your answers.

The option Panel interview is not appropriate for this statement because in such an interview the candidate or participant meets with several interviewers simultaneously.

The option Stress interview is also not suitable because such an interview is intended to confuse or throw the interviewee off balance by criticizing or giving hostile reaction to the candidate in order to examine how a candidate handles stress or pressure.

Behavioral is also not a correct option because in such interviews the questions are related to the past work experiences in order to assess how a candidate handled different job scenarios and it also provides information about the candidate's temperament, talents and skill.

Situational is also not a correct option because this is a bit similar to behavioral interview in which candidate is asked questions except the questions in situational interviews focus on how a candidate can deal with various realistic scenarios at work.

Does retail storage with customer pick up pose any risk for distribution network?

Answers

Inventory cost is higher than all other options. If there are many small players at the customer stage, each requiring small amount of the product at a time.

What is the rate if the base is 366 and the portion is 50

Answers

If base is 366 and quotient is 50 then the rate is 13.66%.

The given rate is calculated as follows: Rate = (Portion/Base) × 100Let's plug in the values to find the rate: Rate = (50/366) × 100= 13.66...% (rounded to two decimal places)Therefore, the rate if the base is 366 and the portion is 50 is 13.66%. In other words, the portion of 50 is 13.66% of the base of 366.To understand what rate is, let's look at an example: Imagine you have a bowl of fruit that contains 5 apples and 15 oranges. The rate of apples to the total fruit is (5/20) or 0.25, which is equivalent to 25% (since we multiply the decimal by 100 to get the percentage).The rate tells us how much of one thing there is in relation to the whole. In the example above, the rate of apples tells us that 25% of the fruit in the bowl is apples. Likewise, in the given problem, the rate of 13.66% tells us that 13.66% of the base of 366 is equal to the portion of 50.

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5 ways that bussiness bulid relationships with customers​

Answers

Answer:

How to Build Strong Customer Relationships

Write killer emails.

Embrace pathological empathy.

Blow away their customer service expectations.

Seek feedback and show you genuinely care.

Be consistent and timely in your interactions.

Establish trust.

Reward loyalty.

Explanation:

Answer:

Communicate

Exceed expectations

Ask for feedback

Connect

Show appreciation

Explanation:

Assume yourself as a Marketing Specialist of a Company and Determine the New Product Development Process by manufacturing a New Product for your company.

Answers

Explanation:

Assuming my company produces body care products and decides to introduce a new product–a toothbrush, the development process would involve:

1. Idea Generation:

It smbegins with an idea or imagination of what the ideal toothbrush would be, what problem would it solve for consumers. The idea could be random or it could be as a result of an identified need.

2. Idea Evaluation:

Remember, it is one thing to have an idea but another to have an idea that would work. Therefore, quality time would be taken to separate workable ideas about the ideal toothbrush from bad ones. This idea evaluation process is a very useful stage in the product development process.

3. Concept Development and Testing:

Remember, testing the concept about the new toothbrush allows for an expanded idea. The prototype of the toothbrush would be tested with consumers to find out whether the idea is worth the effort. Their feedback would be noted to improve the product further.

4. Marketing strategy

5. Final Product development

what factor influencing the choice of firm​

Answers

Explanation:

There are many factors that can influence the choice of a firm, including:

Reputation: The reputation of the firm can be an important factor in influencing a person's decision. If a firm has a good reputation for quality and customer service, it may be more attractive to potential customers.

Price: The price of a firm's products or services can also be a factor. If the price is too high, customers may choose to go with a cheaper alternative.

Product quality: The quality of a firm's products or services can also influence the decision of potential customers. If the products or services are of high quality, customers may be more likely to choose the firm.

Location: The location of the firm can also be a factor. If the firm is located in a convenient location, it may be more attractive to potential customers.

Marketing: The marketing strategy of a firm can also be important in influencing the decision of potential customers. If the firm has a strong marketing campaign, it may be more attractive to potential customers.

Brand image: The brand image of a firm can also influence the decision of potential customers. If the brand is well-known and trusted, customers may be more likely to choose the firm.

Customer service: The level of customer service provided by the firm can also be a factor. If the firm provides good customer service, customers may be more likely to choose the firm

Which is an advantage of functional organizational structure?
A.
better project focus
B.
faster response in decision making
C.
team members develop strong project loyalty and commitment with one reporting manager
D.
clear line of authority for each division in the organization

Answers

Team members develop strong project loyalty and commitment with reporting manager

Answer:

its c

Explanation:

i got it right

How long has Alice Spring Tow Truck been in operation, and what services do they offer?

Answers

Based on historical facts and the company's information, the Alice Spring Tow Truck has been in operation for more than 35 years, and they offer services like equipment relocation, freight transport, and vehicle recovery services.

What is Alice Spring Tow Truck?

Alice Spring Tow Truck is an Australian transport and logistics company.

The company offers various logistics services around Australia and it is located in Central Australia for over 20 years.

Alice Spring Tow Truck is known to have been in operation for varying services such as:

relocation of heavy equipment freight transport vehicle recovery services. Towing of vehicle, etc.

Also, Alice Spring Tow Truck operated majorly in places like

YularaTennant CreekMarlaUluruOther regions in Central Australia

Hence, in this case, it is concluded that Alice Spring Tow Truck is a logistics servicing company.

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Sanjay, the new HR Manager at Charlemagne Tools Inc., examines the application form that the company has been using for the last two years. According to the guidelines set by the Equal Employment Opportunity Commission and various court decisions, which of the following is an illegal question on the application form?

a. Will you be able to relocate for the job
b. Can you perform the duties of the job with reasonable accommodation
c. What is your main area of work expertise
d. Whom should we contact in case of emergency

Answers

B, that’s what u got

Can you perform the duties of the job with reasonable accommodation of the following is an illegal question on the application form. Thus, option (b) is correct.

What is job?

The term “job” refers to being employed by a particular company. The job creates an opportunity to build a career. A job provides financial support and allows you to gain experience. There are producers, builders, thinkers, and improvers.

Hr manager at the company of Charlemagne Tools Inc., are the main work to the hiring the candidate for the job. The application form are the question was the asked to execute the works of the job with sensible accommodation.

As a result, they perform the duties of the job with reasonable accommodation. Therefore, option (b) is correct.

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