a toy company created a new truck to offer to consumers. based on the graph shown above, which of the following is the equilibrium quantity and price at which the company should sell the truck?

Answers

Answer 1

Note that the price at which the company should sell the truck is "300 trucks at $6 per truck"

How do you determine pricing?

The first step in pricing is always to determine your baseline pricing. This is the price you must charge in order to repay your development expenditures and break even on each sale. From there, you may employ a variety of pricing methodologies to arrive at the most appropriate price for your product.

The price you charge for a product is determined by a variety of factors, including the cost of manufacturing the product, marketing expenses, and your customer's willingness to pay. There are three models that might help you figure out how much to charge for your items.

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A Toy Company Created A New Truck To Offer To Consumers. Based On The Graph Shown Above, Which Of The

Related Questions

based on the table for a perfectly competitive firm above, if the wage rate for labor is $15, how many units of labor should the firm hire?

Answers

According to the table for a perfectly competitive firm above, the company should hire 3 units of labor if the hourly wage is $15.

MRP, or marginal revenue product, is the rise in sales brought on by the addition of a new variable input.

Based on the following decision criteria, the company decides to hire an firm additional unit of labor:

MRP=wages

The company should continue to hire new employees until its MRP is larger than or equal to the wages. When MRP is less than the pay, it should stop hiring employees.

Up to three units of work, MRP in the table is greater than wages. It indicates that a worker's marginal contribution exceeds the cost of recruiting an extra worker. According to the table for a perfectly competitive firm above, the company should hire 3 units of labor if the hourly wage is $15.

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Which one of the following statements is correct?

a. Cost can be controlled only by those who are managing the project

b. Cost can be controlled only by those who are managing the project risk

c. Cost can be controlled only by those who are doing the spending

d. Cost can be controlled only by those who are doing the work

Answers

The correct statement is "Cost can be controlled only by those who are doing the work." Option D.

This statement reflects the principle of responsibility assignment in project management, according to which each team member is accountable for their task or activities.

Cost management is a crucial aspect of project management, which requires the involvement of the entire project team, not just the managers.

Therefore, team members who are responsible for carrying out the activities are required to be cautious in their approach to carrying out the assigned task to control the cost and keep it within the allocated budget. It is essential for them to understand the scope of the work and execute it effectively and efficiently.

In conclusion, the statement "Cost can be controlled only by those who are doing the work" highlights the importance of assigning responsibility and accountability to the team members to ensure the cost of the project does not exceed the allocated budget.

Hence, the right answer is option D.

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When the demand rate and the lead time are both constant, the reorder point will equal:
a) zero
b) the expected usage during the lead time period
c) the cycle-service level
d) the Economic Order Quantity

Answers

The reorder point, when the demand rate and the lead time are both constant, will equal the expected usage during the lead time period (option B).

The reorder point is the inventory level at which a company should place a new order to replenish their stock. It is calculated as:

Reorder point = (Demand rate) x (Lead time)

If both the demand rate and the lead time are constant, the reorder point will simply be the product of these two factors. This means that the reorder point will equal the expected usage during the lead time period, as this is the amount of inventory that will be consumed while waiting for the new order to arrive.

Option a is incorrect, as the reorder point will never be zero if there is a constant demand rate and lead time. Option c is incorrect, as the cycle-service level is a measure of the probability of not running out of stock during a given period, and is not related to the reorder point. Option d is incorrect, as the Economic Order Quantity is the optimal order quantity that minimizes total inventory costs, and is also not related to the reorder point.

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Which of the following could be considered collateral for a loan? (Select all that apply.)
A. buildings
B. inventory
C. machinery
D. wages

Answers

Option B: inventory

Collateral is simply an asset, such as a car or home, that a borrower offers up as a way to qualify for a particular loan. collateral can make a lender more comfortable extending the loan since it protects their financial stake if the borrower ultimately fails to repay the loan in full.

The biggest risk of a pawn loan is that you can lose your assets if you don't repay the loan. it's especially dangerous if you back your loan with a very valuable asset like your home. It requires you to have valuable assets.

many banks and credit unions offer savings accounts, certificates of deposit (CD) funds, or secured personal loans, which are personal loans secured by your car. for this reason, these loans are sometimes referred to as mortgages. often there is no limit to these types of credits.

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Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).

Cain Company reports net cash provided by operating activities of $35,000. It also reports the following

Answers

It can be seen from the solutions given that Cain's net income is $24,000.

Here is the solution:

Net income = Net cash provided by operating activities - Adjustments

= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000

= $24,000

Therefore, Cain's net income is $24,000.

Here is a breakdown of the adjustments:

To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.

A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.

The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.

A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.

A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.

A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.

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Leadership is best defined by our text as.... Question 1 options: the ability to reduce the dependence of team members on each other the ability to influence a group toward the achievement of a vision or set of goals the ability to use factors like training and experience to reduce dependence on formal leadership the ability to merely project one's abilities in the lack of actual accomplishments

Answers

Based on sociocultural theory, Leadership is best defined by our text as "the ability to influence a group toward the achievement of a vision or set of goals."

Characteristics of Leadership

Leadership has been found to have some of the following features:

Effective communicationEmpathyConfidenceIntegrityDelegationSelf-AwarenessMotivationCharisma, etc.

All of the characteristics above are combined by leaders to influence followers toward accomplishing objectives, goals, or a vision.

Hence, in this case, it is concluded that the correct answer is option B. "the ability to influence a group toward the achievement of a vision or set of goals."

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What are three important things to consider when choosing a college 

Answers

Answer:

Best of luck!

Explanation:

1. I would look into their funs if you can, like find out which part of the school gets the most money

2. tuition, dorms, start your FAFSA if you haven't already, look to see if they have your program, degree and major/minor of choice

3. tour the school!!

- clubs that may interest you

- videos online talking about people’s experiences just to get an inside idea

- cafeteria and lounging areas

Workers who work primarily out of their homes are classified as independent employees, because normal managerial supervision cannot take place.TrueFalse

Answers

Workers who work primarily out of their homes are not necessarily classified as independent employees. False

The classification of an employee as independent or not is based on several factors, including the level of control that the employer has over the worker's work and the degree of independence that the worker has in performing their duties.

While remote workers may not be under constant physical supervision, they can still be subject to managerial oversight, such as through regular check-ins, project milestones, or other means of tracking progress and ensuring accountability. Therefore, the classification of an employee as independent or not is not determined solely by their work location.

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How does business generate income?

Answers

Hai!

This depends on the Type of Business.

If it is a Selling Business, they sell stuff to Earn Profit.

If its a Free Online Website/Game. They earn money by either in game purchases or Web Site purchases.  

The most common time frame individuals use when developing a budget is _____. A) Yearly B) Monthly C) Daily D) Weeklyeco​

Answers

Answer:

Monthly

Explanation:

As you read through the draft of your message, you consider whether parts of your message should be rearranged to make your point more effective. Proofreading Evaluating Editing

Answers

Answer:

The correct answer will be "Editing".

Explanation:

Editing seems to be the process where even the letter being written is reconstructed or reconfigured to more efficiently express the letter. Arranging, modifying, as well as assembling a recorded, written, or video content for official completion, commonly by such an individual except for the producer of the content (considered as an editor).

The other options in question aren't relevant to the particular circumstance. So the option available here is just the right one.

what is the importance of knowing how to compute the market share in a business​

Answers

Answer:

Simply put, market share is a key indicator of a company's competitiveness. When a company increases its market share, this can improve its profitability. This is because as companies increase in size, they too can scale, therefore offering lower prices and limiting their competitors' growth.

You can determine a company's market share by dividing its total sales or revenues by the industry's total sales over a fiscal period.
It's important to calculate and understand market size for several reasons. First, entrepreneurs and organizations can use market sizing to estimate how much profit they could potentially earn from a new business, product or service. This helps decision-makers to decide whether they should invest in it.

Knowing your customer is key for any business endeavor. Successful business owners understand what their customers want and the most effective way of making their product or service available. The depth of knowledge is also crucial it requires knowing more than their names, ages and incomes. As a business owner, knowing your customers hobbies, tastes and interests along with what they watch, listen to and read can be a profitable advantage.


Hope this helps ^v^

one of the largest grocery retailers in the United States, is headquartered in Minneapolis. Suppose the following financial information (in millions) was taken from the company's 2022 annual report: net sales $41,940, net income $419, beginning common stockholders' equity $2,635, and ending common stockholders' equity $2,878. Compute the return on common stockholders' equity. (Round answer to 1 decimal place, e.g. 10.5\%.) Return on common stockholders' equity ______________ % Sheridan Corporation reports net income of $552,250 and a weighted-average of 235,000 shares of common stock outstanding for the year. Compute the earnings per share of common stock. (Round answer to 2 decimal places, e.g. 2.25.) Earnings per share $ ____________

Answers

The earnings per share of common stock is approximately $2.35.

To compute the return on common stockholders' equity, we need to divide the net income by the average common stockholders' equity. Here's the calculation:

Return on common stockholders' equity = (Net Income / Average Common Stockholders' Equity) * 100

First, we need to find the average common stockholders' equity:

Average Common Stockholders' Equity = (Beginning Common Stockholders' Equity + Ending Common Stockholders' Equity) / 2

Given:

Net Income = $419 million

Beginning Common Stockholders' Equity = $2,635 million

Ending Common Stockholders' Equity = $2,878 million

Average Common Stockholders' Equity = ($2,635 + $2,878) / 2 = $2,756.5 million

Now we can calculate the return on common stockholders' equity:

Return on common stockholders' equity = ($419 / $2,756.5) * 100 ≈ 15.2%

Therefore, the return on common stockholders' equity is approximately 15.2%.

To compute the earnings per share of common stock, we divide the net income by the number of shares outstanding:

Earnings per share = Net Income / Number of Shares Outstanding

Given:

Net Income = $552,250

Number of Shares Outstanding = 235,000

Earnings per share = $552,250 / 235,000 ≈ $2.35

Therefore, the earnings per share of common stock is approximately $2.35.

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Explain the statement social economic responsibility

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Answer:

Social economic responsibility is the idea that businesses and organizations have an obligation to not only generate profits and create economic value, but also to act in a way that positively impacts society and the environment. This includes considering the social and environmental impacts of their actions, and taking steps to mitigate negative effects and promote positive ones.

Social economic responsibility is based on the understanding that businesses and organizations do not exist in isolation from the rest of society, but rather are an integral part of it. As such, they have a responsibility to contribute to the well-being of society as a whole, beyond just their own financial success.

Examples of social economic responsibility include adopting sustainable business practices, investing in local communities, supporting employee well-being and development, and engaging in philanthropic activities. By prioritizing social and environmental responsibility, businesses can not only contribute to the betterment of society, but also improve their own long-term sustainability and success.

Explanation:

Profit or Loss on New Stock Issue out-of-pocket expenses incurred by Security Brokers in the design and distribution of the issue were $350,000. What profit or loss would Security Broker completely. For example, 5 million should be entered as 5,000,000. Round your answers to the nearest dollar. Loss should be indicated by a minus sign. A. $5. 25 per share? b. $6. 25 per share? $ c. $3. 5 per share? $

Answers

If the stock was sold for $5.25 per share, what profit or loss would Security Brokers Inc. make per share is c. $3.5 per share.

How to solve

The out-of-pocket expenses incurred by Security Brokers were $350,000. If the stock was sold for $5.25 per share, then the profit per share would be $5.25 - $3.5 = $1.75.

However, since the expenses were $350,000, the company would actually make a loss of $350,000 / 100,000 = $3.5 per share.

The answer for option a. ($5.25 per share) is incorrect because the profit per share would be greater than the expenses per share. The answer for option b. ($6.25 per share) is incorrect because the profit per share would be even greater than the option a., which is impossible.

Therefore, the correct answer is option c. ($3.5 per share).

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You have just been offered a contract worth $1.18 million per year for 5 years. However, to take the contract, you will need to purchase some new equipment. Your discount rate for this project is 12.4%. You are still negotiating the purchase price of the equipment. What is the most you can pay for the equipment and still have a positive NPV? The most you can pay for the equipment and achieve the 12.4% annual return is $ million. (Round to two decimal places.)

Answers

To calculate the maximum amount you can pay for the equipment and still have a positive Net Present Value (NPV), we need to determine the present value of the cash flows associated with the contract.

Step 1: Calculate the present value of the contract:
To find the present value, we discount each cash flow by the discount rate (12.4%) over the 5-year period. Since the contract is worth $1.18 million per year, we need to discount each year's cash flow separately.

Year 1: $1.18 million / (1 + 0.124)^1
Year 2: $1.18 million / (1 + 0.124)^2
Year 3: $1.18 million / (1 + 0.124)^3
Year 4: $1.18 million / (1 + 0.124)^4
Year 5: $1.18 million / (1 + 0.124)^5

Step 2: Sum up the present values:
Add up the present values of all the cash flows to calculate the total present value.

Step 3: Determine the maximum purchase price:
The maximum purchase price of the equipment is the amount that, when subtracted from the total present value, will still result in a positive NPV. In other words, it is the maximum amount you can pay for the equipment while achieving the desired 12.4% annual return.

Step 4: Round the result:
Finally, round the maximum purchase price to two decimal places.
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The maximum amount you can pay for the equipment and still have a positive NPV is $4.25 million. To determine the most you can pay for the equipment and still have a positive net present value (NPV), we need to calculate the NPV of the project.

Here's how you can calculate the NPV:

1. Calculate the present value (PV) of each annual cash flow for the 5-year period using the discount rate of 12.4%. The formula to calculate the PV is:

PV = Cash Flow / (1 + Discount Rate)^n

Where:
- Cash Flow is the annual cash flow ($1.18 million)
- Discount Rate is the discount rate (12.4%)
- n is the number of years

2. Add up the present values of all the cash flows to get the total present value (TPV) of the project.

3. Subtract the initial investment (the cost of the equipment) from the TPV to get the net present value (NPV).

Since we want to have a positive NPV, we need to find the maximum amount you can pay for the equipment that would result in a positive NPV.

Let's calculate the NPV:

PV1 = $1.18 million / (1 + 0.124)^1 = $1.05 million
PV2 = $1.18 million / (1 + 0.124)^2 = $0.94 million
PV3 = $1.18 million / (1 + 0.124)^3 = $0.84 million
PV4 = $1.18 million / (1 + 0.124)^4 = $0.75 million
PV5 = $1.18 million / (1 + 0.124)^5 = $0.67 million

TPV = PV1 + PV2 + PV3 + PV4 + PV5
    = $1.05 million + $0.94 million + $0.84 million + $0.75 million + $0.67 million
    = $4.25 million

Now, let's solve for the cost of the equipment (E) that would result in a positive NPV:

NPV = TPV - E

Since we want NPV to be positive, we set NPV greater than zero and solve for E:

0 = $4.25 million - E
E = $4.25 million

Therefore, the maximum amount you can pay for the equipment and still have a positive NPV is $4.25 million.

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Write a 5 sentence paragraph about respecting people’s privacy and their boundaries can’t use simple sentences

Answers

Answer:

certainly because a few things are not intended to be proven deliberately. all people desires their personal non-public space, even in the public.

while youre having some time by myself in a cafe, taking part in a pleasant warm espresso, you dont want all and sundry else to get concerned along with your time. You need to recognition at the taste of the coffee, and being stared by using others will handiest create distraction. You dont want people to see your expression after tasting the espresso as this isn't always a culinary tv display.

whilst youre relationship with someone, you wouldnt need strangers to pay attention or stare at you for a protracted period of time. You want to preserve the communication personal and its now not meant to be heard by every body else.

some other issue is that, human beings cant study minds, so theres a high hazard of misunderstanding. as an example, you're carrying an attractive suit and youre awaiting your friend to reach. due to the fact theres no seat, you need to stand by means of the wall. Now, lets say, this takes location in a rustic where privateness isnt without a doubt widely recognized, so strangers have a tendency to stare at you. a few would possibly start to count on that youre attempting to expose off your in shape, despite the fact that youre now not.

every other extraordinary example is when you pressure an appealing searching car, parking it VIP on the foyer for safety motive. human beings may start to judge you on specific reasons. some might assume that youre attempting to show off via displaying it at the foyer , or a few might assume that youre doing it to enhance your ego, even though thats not your purpose.

because of the excessive risk of misunderstanding, the first-class attitude to that is to admire others privacy, now not minding tons about different people unless they may be in want.

or if u don’t want to use all of that here’s this

Respecting other people’s privacy is similar to understanding limits and boundaries. We should always knock before we enter anybody’s houses and bedrooms. On the other hand, if we don’t knock before we enter anybody’s houses and bedrooms, we would be pushing and crossing those limits and boundaries. Some people might think that we’re trespassing and call the police on us. We should never come to someone’s house empty-handed or unless somebody invites us. After somebody invites us over to his or her house, we should bring something, like cookies or cake

P.S. The top one might give u extra credit

Explanation:

PLZ HELP: FIND THE PROFIT
Fixed costs are £26,000 per year, and variable costs include wages at £10 per
unit, raw materials at £12 per unit and delivery/packaging at £3 per unit. It is expected that a business will make and sell 750 units during the year, with
a selling price of £26.

Answers

Answer:

Net loss -£25,250

Explanation:

The computation of the profit is shown below:

Sales (750 units × £26) £19,500

Less: Variable cost  (750 units × £25) £18,750

Contribution margin £750

Less: Fixed cost £26,000

Net loss -£25,250

The £25 could be calculated below:

= £10 + £12 + £3

= £25

Basically applied the above format

The US Supreme Court did what in Piscataway Board of Education v. Taxman, 521 U.S. 1117, 117 S.Ct. 2506 (1997)?

Answers

Answer:

The case was never heard in the United States Supreme Court.

Explanation:

The board of education of Piscataway High School, New Jersey desired to remove one teaching position from the Business Education department. A hindrance to this was the fact that the two teachers being considered had indefinite appointments, and were equal in seniority. According to the state law, tenured teachers can be relieved of their duties in reverse order of seniority. Either Sharon Taxman, a white teacher, or Debra Williams an African-American teacher were to be relieved of their positions.

Taxman was chosen because African-Americans were a minority. Taxman contested this in the court. The case was never heard at the U.S Supreme court because some civil rights group wanted the case to be settled out of court. The United States Court of Appeal ruled in favor of Taxman.

Submit your 300-word essay that thoroughly analyzes a problem that was solved through social media and provides your opinions on the impact social media use had on the issue. a definition of the problem-- what it is; an analysis of the problem-- what caused it and what the major issues are; how social networking was used to solve the problem; your opinions on how social media made it easier to solve the problem; and your sources.

Answers

Explanation:

Social media are tools that significantly impacted the relationship between companies and consumers, one could even say that they revolutionized this relationship.

Companies managed to get closer to their target audience in order to build a relationship that means increasing brand value, consumer loyalty and engagement on social networks. The so-called relationship marketing is a double path with benefits for both the client and the company, due to the fact that with greater proximity between them, there is a greater possibility for the client to have their issues with the brand resolved in less time, as for the brand to carry out instant and cheap advertising that reaches its potential audience almost at the same time.

Therefore, a problem that may have arisen, for example, a product purchased through a website that came with a manufacturing defect can be communicated directly to the company through its social media and the consumer can get a much quicker and less answer bureaucratic, and thus be able to exchange that piece or guarantee the refund of your money and solve your problem much more easily.

Explain what it means to own an individual stock.

Answers

Answer: when one invests in an individual stock, he/she is purchasing ownership. If an individual invested in 100 shares of a public company, that individual would have a percentage of ownership in that company.

Explanation:

"Why can production only take place on or inside the curve?"

Answers

Answer:

I suppose that you are referring to a production possibilities frontier (PPF) curve. Total production output can only take place on or inside the curve because the PPF curve gives us the maximum combination of output that we can produce of two different goods using all available resources.

e.g.

Cars            Boats

100                 0

80                  15

60                  30

40                  45

20                  60

0                    75

If you want to produce 60 cars, the maximum number of boats that can be produced is 30. You can produce less than 30 boats, and have some spare unused resources, but you cannot produce 40 boats.

1; Choose a business or an industry that is considered as a perfect market and explain which characteristics of a perfect market are not met by this business or industry.​

Answers

Answer:

hey what kind of watch is that in your profile pic

Your social media promotion can either narrowly target 50,000 users with an estimated click rate of 10% or broadly
target 250,000 users with an estimated click rate of 1%. Which will get more clicks?

Answers

Answer:

Narrow targeting

Explanation:

1% of 250,000 is 2,500

10% of 50,000 is 5,000

A social media promotion can either narrowly target 50,000 users with an estimated click rate of 10% or broadly target 250,000 users with an estimated click rate of 1%. The narrowly target is the best way.

What is social media?

Social media is a term used to describe online communication. Social media systems enable users to have discussions, exchange information, and create content for the internet. Social media mostly used in the youth. The social media are to share the information quickly.

The social media promotion is the part of the marketing. The narrowly target is the specific niche of consumers is the target market on the right time to the right audience. The broadly target to the cover the large level of the audience. The narrowly target is the best option in the social media promotion.

The calculation are:

1% of 250,000 is 2,50010% of 50,000 is 5,000

As a result, the significance of the social media are the aforementioned.

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You need to write a check for $167.50 from your checking account, which has a balance of $1,725.25. What percent of your balance will remain?

Answers

The percent of your balance will remain in the checking account is 90.26%

To find out what percent of your balance will remain, you'll need to first subtract the amount of the check ($167.50) from your account balance ($1,725.25) to get the new balance after writing the check.

$1,725.25 - $167.50 = $1,557.75

Now that you know your new balance, you can find out what percent of your original balance remains by dividing the new balance by the original balance and then multiplying by 100 to get the percentage.

($1,557.75 ÷ $1,725.25) x 100% = 90.26%

So, after writing the check for $167.50, 90.26% of your original balance will remain in your account. This means that $1,557.75 is 90.26% of $1,725.25.

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20 POINTS AND NEED HELP FAST. You are trying to solve a problem with a computer system but cannot figure out what is wrong. You want to demonstrate your ability to collaborate. What should you do? (choose all that apply)

ask the opinions of your boss and coworkers

try alternative suggestions from coworkers

work alone to solve the problem, demonstrating your ability to concentrate

Answers

Select these two answers:

Ask the options of your boss and coworkers
Try alternative suggestions from coworkers.

Answer:

ask the opinion of your boss and co-worker

Explanation:

ask the opinion of your co worker and boss because it show how you can demonstrate communicate with othere people

Dawson is the head of an internet service company and is studying areas where there is limited service so he can determine how best to meet the needs of these regions. What entrepreneurial trait is Dawson demonstrating?

resilience
strategic thinking
coordination
management

Answers

Entrepreneurial trait is Dawson demonstrating is strategic thinking. Option B is correct.

What is strategic thinking?

Planning for the future requires the ability to think strategically. Strategic thinking the ability to plan plans and come up with concepts that will take into account the numerous obstacles that lie ahead while also coping with changing situations.

Further Strategic thinking can also imply creating a plan to deal with potential obstacles in the future. This can help you foresee issues and effectively handle them, enabling you to overcome obstacles and succeed.

Thus Dawson studying the potential problems that could be arise in limited internet services in a particular region that would be a strategic thinking model.  

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stephanie has been driving for 4 years without any major auto accidents until today

Answers

That is amazing, hope she continues this amazing record.

How has information technology impacted the economy?.

Answers

The information technology creates the major growth, better economic policy in the economy

The term Information technology simply said that IT is the creation, process, storage, security, and sharing of all types of electronic data using computers, collection, connectivity, and various physical devices, infrastructure, and procedures.

Here we need to find the impact created by information technology on economy.

Here we have listed down the impacts as follows:

This one has allowed economists to better predict how resources should be allocated.

And this will also assisted governments to make better economic policy decisions.

Finally it helps in the expanded growth and outlook in information technology careers.

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The ledger of Skysong, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared.

The ledger of Skysong, Inc. on March 31 of the current year includes the selected accounts below before
The ledger of Skysong, Inc. on March 31 of the current year includes the selected accounts below before

Answers

Answer: See Image Below

The ledger of Skysong, Inc. on March 31 of the current year includes the selected accounts below before

The adjusting entries for Skysong, Inc. for March is prepared from the given   selected accounts before adjusting entries have been prepared.

What are adjusting entries?

Adjusting entries are journal entries that are typically made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred. Under accrual-basis accounting, the revenue recognition principle serves as the foundation for making adjusting entries for unearned and accrued revenues.

The adjusting entries are as follows:-

No.   Date           Account Tiles and Explanation       Debit        Credit

1.      March 31        Depreciation expense                      756

                       Accumulated Depreciation expense                        756

2.     March 31    Unearned Rent revenue                        5580

                            Rent revenue                                                        5580

3.     March 31      Interest Expense                                360

                            Interest payable                                                   360

4.    March 31        Supplies Expense                            1935

                               Supplies                                                             1935

5.    March 31       Insurance Expense                             1080

                            Prepaid Insurance                                                    1080

Therefore, the adjusting entries are prepared on March 31.

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