Pina Colada Company has the following balances in selected accounts on December 31, 2022.
Accounts Receivable
$ 0
Accumulated Depreciation—Equipment
0
Equipment
9,240
Interest Payable
0
Notes Payable
13,200
Prepaid Insurance
2,772
Salaries and Wages Payable
0
Supplies
3,234
Unearned Service Revenue
39,600
All the accounts have normal balances. The following information has been gathered at December 31, 2022.

1. Pina Colada Company borrowed $13,200 by signing a 12%, 1-year note on September 1, 2022. Interest will be paid when the note is repaid.
2. A count of supplies on December 31, 2022, indicates that supplies of $1,188 are on hand.
3. Depreciation on the equipment for 2022 is $1,320.
4. Pina Colada paid $2,772 for 12 months of insurance coverage on June 1, 2022.
5. On December 1, 2022, Pina Colada collected $39,600 for consulting services to be performed evenly from December 1, 2022, through March 31, 2023.
6. Pina Colada performed consulting services for a client in December 2022. The client will be billed $5,544.
7. Pina Colada pays its employees total salaries of $11,880 every Monday for the preceding 5-day week (Monday through Friday). On Monday, December 29, employees were paid for the week ending December 26. All employees worked the last 3 days of 2022.

Answers

Answer 1

The appropriate journal entries to record the transactions are: Debit Interest expense $528; Credit Interest payable $528.

Journal entries

Pina Colada Company journal entries

Debit Interest expense $528

Credit Interest payable $528

($13,200×12%×4/12)

Debit Depreciation expenses  $1,320

Credit Accumulated depreciation  equipment $1,320

Debit  Supplies expenses $2,044

Credit Supplies 2044

(3234-1,188)

Debit Insurance expenses $1,617

Credit Prepaid insurance $1,617

($2,772×7/12)

Debit Unearned service revenue $9,900

Credit Service revenue $9,900

($39,600×1/4)

Debit Accounts Receivable  $5,544

Credit Service Revenue $5,544

Debit  Salaries and wages expenses $7,128

Cred it Salaries and wages pay $7,128

($11,880×3/5)

Therefore the appropriate journal entries to record the transactions are: Debit Interest expense $528; Credit Interest payable $528.

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Related Questions

20 POINTS FOR THE ANSWER
Choose a specific technological advancement from the list presented. Once you have chosen, research its impact on the evolution of media in relation to design. Make sure to cite your sources too!
Possible choices:
Johannes Gutenberg and the printing press
Pi Sheng and movable type
Saul Bass and movie credit design
Paul Rand and corporate identity systems
Digital printing
Digital photographic editing
Linotype typesetting machine

Answers

Digital printing is best used for items that require high amounts of detail and smaller quantity orders. Unlike conventional printing, there are no pre-press stages between the digital document files and the final product; there is also no need for messy formatting equipment like film plates or photo chemicals.

What is the evolution of printing?

The printing is credited as the earliest form and was first developed in China around 200AD. As the name suggests, it involves carving a design into a block of wood. Once the wood is carved, the raised part is then inked and paper is placed on top.

It's been 20 years since Israeli Benny Landa revolutionized the printing industry with the advent of digital printing, and industry watchers say the inventor may have repeated the feat with a new product unveiled.

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Scott is a 15-year-old student who works at a part-time job and gets paid every two weeks. His paycheck goes directly to his prepaid debit card. Due to some unexpected expenses, Scott is applying for a payday loan. After visiting the storefront payday lender, Scott was denied the loan because he

Answers

Scott was denied the loan because he was not old enough to qualify.

What is the Payday loan?

Payday loan is a type of unsecured loan in which high rate of the interest is given to the borrower. It is a kind of the short term loan basically for the two weeks.

According to the above situation, Scott is cannot get the payback loan because he is  minor to sanction a loan. He must have the age of 18 years or above.

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Self interest, marginal decisions, and optimization all form the basis of.

Answers

Self interest, marginal decisions, and optimization all form the basis of Rational decision making.

What is Decision making?

Decision making can be regarded as the process of making choices which involves careful consideration of the alternatives that is available.

Decision making involves;  identifying a decision gathering informationassessing alternative .

Therefore after goin through these process, a Rational decision making can be made.

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At the end of 2022, Carla Vista Co. has accounts receivable of $773,900 and an allowance for doubtful accounts of $63,000. On January 24, 2023, the company learns that its receivable from Megan Gray is not collectible, and management authorizes a write-off of $5,500. On March 4, 2023, Carla Vista Co. receives payment of $5,500 in full from Megan Gray. Prepare the journal entries to record the March 4, 2023, transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Answers

The  journal entries to record the March 4, 2023, transaction is: Debit  Accounts receivable $5,500; Credit Allowance for doubtful accounts $5,500.

Journal entries

Carla Vista Co. Journal entries

March 4, 2023

Debit  Accounts receivable $5,500

Credit Allowance for doubtful accounts $5,500

Debit Cash $5,500

Credit  Accounts receivable $5,500

Therefore the  journal entries to record the March 4, 2023, transaction is: Debit  Accounts receivable $5,500; Credit Allowance for doubtful accounts $5,500.

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Which consideration must a society address when deciding for whom to produce a potentially scarce or limited resource?

Answers

The question "Who has the greatest need?" must be considered by the society when deciding for whom to produce on a potentially scarce or limited resource.

What is the whom to produce?

As part of an economic problem, this refers to problem of distribution of final product.

Thus, the question "Who has the greatest need?" must be considered by the society when deciding for whom to produce while deciding who to produce a potentially scarce or limited resource for.

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Answer: is

Who has the greatest need?

Explanation:

How many employers ask that employees be skilled in communication and handling money? 47 50 67 86

Answers

Answer:47

Explanation:..

__________ involves the review and evaluation of the records and processes that are used to prepare the organization's financial statements.

Answers

Answer:

this is a Financial audit

Labor costs that are clearly associated with employees who directly convert materials to finished product are called:

Answers

Labor costs that are clearly associated with employees who directly convert materials to finished product are called direct labor

What is direct labor?

Direct labour are labor that are used for production.

It includes casual workers in factory, processing and packaging.

Therefore, Labor costs that are clearly associated with employees who directly convert materials to finished product are called direct labor

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Visit the web site for a different well-known company, and find the section that lists the company's values. what are the company's values? how do they relate to the products the company sells? did anything surprise you about the company's values? why or why not?

Answers

Person can visit the website of Microsoft is the well known company to find the section that lists the company's values.

What are the core values that Microsoft has?

Innovation - People think that technology can and should be used for good, and that meaningful innovation can and will help to make the world a better place in both large and little ways.Inclusion and variety Diverse voices allow us to thrive. To inform, challenge, and push our thinking, we draw on the experiences, strengths, and perspectives of our workers and customers.CSR- people think that technology has the potential to be a great force for good, and we are working to ensure that everyone has access to the benefits and opportunities that technology provides. Artificial Intelligence- AI, we believe, can enhance your capabilities, free you up for more creative and strategic pursuits, and help you or your organization achieve more when it is created with humans at the heart

Thus, Microsoft is company that have a solid values.

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definition of tax fraud and tax reduction?

Answers

Answer:

Tax fraud is basically cheating on a tax return in an attempt to avoid paying the entire tax obligation.

Tax Reduction means any tax refund or any reduction in taxes paid by the acquirer, the company,  or any of their respective partners.

Explanation:

Both Canada and the United States produce lumber and footballs with constant opportunity costs. The United States can produce either 10 tons of lumber and no footballs, or 1,000 footballs and no lumber, or any combination in between. Canada can produce either 8 tons of lumber and no footballs, or 400 footballs and no lumber, or any combination in between. a. Draw the U.S. and Canadian production possibility frontiers in the accompanying graphs, with footballs on the horizontal axis and lumber on the vertical axis. b. In autarky, if the United States wants to consume 500 footballs, how much lumber can it consume

Answers

Geifoiwbcuue. Viiexivet. Rdvh

You borrowed $1, 690 for 5.5 years compounded semi annually at an interest rate of 5.7%. What total do you pay back

Answers

Answer:

602.45 is the correct answer

According to Forrester's Social Technographics Model a ______ score measures how common it is for a target segment to share product and service experiences, such as sharing what songs they're listening to on Spotify or comparing their workouts to that of other Fitbit users.

Answers

According to Forrester's Social Technographics Model a Use score measures how common it is for a target segment to share product and service experiences.

What is Forrester Social Technographics Model?

This is the model that was developed by this person which focuses on social behaviors.

The model is one that helps commercial business peiople to target the behaviors of their audiences for the sake of building customers relationships.

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What is opportunity cost? ( selext the best answer)

Answers

Answer: the loss of potential gain from other alternatives when one alternative is chosen

Explanation:

Diminishing returns to specialization suggests that it is worthwhile for companies to Blank______. Multiple choice question. specialize until that point where the resulting gains from trade are outweighed by diminishing returns specialize in goods in which they have comparative advantage produce goods in which they have absolute advantage and gain from trade produce a wide range of goods and services and not specialize in one particular good or service

Answers

The diminishing returns to specialization suggests that it is worthwhile for companies to specialize until that point where the resulting gains from trade are outweighed by diminishing returns.

What is the diminishing returns to specialization?

This diminishing return happens when the resources can move freely from the production of one good to another within a country.

However, its suggests that it is worthwhile for companies to specialize until that point where the resulting gains from trade are outweighed by diminishing returns.

Therefore, the Option A is correct.

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Installation and start-up costs for utilities are called.

Answers

Installation and start-up costs for utilities are called seed or start-up capital. This is further explained below.

What is start-up capital.?

Generally, start-up capital. is simply defined as the money an entrepreneur raises to cover the startup expenses of a new business until it is profitable.

In conclusion, It is termed seed or start-up funding for utility installation and startup expenditures.

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Users of managerial accounting information include ______. (select all that apply) multiple select question. department managers potential investors internal revenue service the chief financial officer

Answers

The user of managerial accounting information includes:

department managersthe chief financial officer

What is managerial accounting information?

Managerial accounting information can be defined as the gathered information which managers use during decision making process.

The users of this information are department manager and the chief financial officer.

Therefore the correct option is A, D.

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If workers are likely to be exposed to fall dangers, what kinds of trainings must their employers provide?.

Answers

Safety training of course, at the same time,they have to gets very necessary working Insurance as well.

Gross domestic product tracks economic growth by measuring all goods and services

exported by an economy.
produced by an economy.
imported by an economy.
purchased by an economy.

Answers

Gross domestic product tracks economic growth by measuring all goods and services option B: produced by an economy.

What is Gross domestic product?

Gross Domestic Product is refers to as the measurement of the total value of the output of all the goods and services produced within a Financial year by the country.

Moreover, the term GDP does not include Intermediate goods and services because it is only concerned with the New and Current production.

Therefore, correct option is B.

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Answer:

B just got it right

Explanation:

Which soft drink was specifically created by the coca-cola company to compete against dr pepper?.

Answers

Answer:

Coca-Cola is the official soft drink of many collegiate football teams throughout the nation, partly due to Coca-Cola providing those schools with upgraded athletic facilities in exchange for Coca-Cola's sponsorship. This is especially prevalent at the high school level, which is more dependent on such contracts due to tighter budgets.

Explanation:

Resources (such as land) and technology (such as the ability to draw water from a well):Multiple choice question.influence the likelihood that consumers will purchase the product.cannot be influenced by producers.are the most expensive inputs that producers use.contribute to how a good or service is produced for the market.

Answers

Resources and technology contribute to how a good or service is produced for the market.

What is Resources and technology used for?

The resources serves as the Primary factor of production while the technology forms part of the secondary factor of production.

They are both essential factor on how a good or service is produced for the market.

Therefore, the Option D is correct.

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Outline any other THREE qualities of a successful entrepreneur​

Answers

Answer:

Robust Work Ethic.

Deep Passion.

Creativity. ...

Motivated Self-Starters. ...

Easygoing Attitude. ...

Eager to Learn.

you can choose any three you want :)

Assume Durango Co. had sales of $200,000 for the month of November. Sales are expected to grow 10% each month. The company collects 60% of sales in the month of sale and 40% in the month after sale. Projected cash collections for December total ______.

Answers

The cash collections of Durango Co. for the month of December over such given number of sales will be $212,000.

What is cash collection?

The total amount of receivables actually received by a business during a given financial period is regarded as the cash collection of the firm for such period.

Now, in the above given situation, the 40 percent cash collection amounting to $80000 from the month of November will be collected in the current month. Solving further,

[tex]\rm Cash\ Collection\ = Total\ Sales\ x\ \dfrac{Pecentage}{100}\\\\\rm Cash\ Collection\ = 220,000 x\ \dfrac{60}{100}\\\\\rm Cash\ Collection\ = \$132,000[/tex]

So, in total the cash collection for the month of December will be computed as, 80000+132,000=$212,000.

Hence, the cash collection of Durango Co. is aforementioned.

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The period of declining growth in real gdp between the peak of the business cycle and the trough is called the.

Answers

Answer:

recessionary phase.

Explanation:

The period of declining growth in real GDP between the peak of the business cycle and the trough is called the contractionary phase.

Economic contraction in GDP is the term used to describe the business cycle's downward slope. A period of declining economic production is known as a contraction. The economy is currently producing fewer goods and services than it did previously.

In order to create fewer goods and services, businesses must use fewer resources, especially labor. Businesses that reduce their output frequently hire few, if any, new employees and let some of their current employees go.

As a result, employment tends to decrease along with decreased output.

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Your company's policy is to receive all office supplies without any changes made from the previous order. This order is referred to as a

Answers

The policy of the company is to receive all office supplies without any changes made from the previous order. This order is referred to as a straight rebuy.

What is the policy?

A policy is referred to as a set of rules, principles, or frameworks that every employee is restricted to follow. These policies are designed for the growth and fulfillment of the goals of the organization.

A situation when a company purchases the same goods from the same suppliers without making any changes to the previous order. This is called straight rebuy order.

When a company is unhappy with the services of a supplier and changes the pattern of order or changes in the purchase has been made by the procurement team, then this order will be called a modified rebuy.

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Jennifer bought an AirFryer online and chose an in-store pick-up option. When she went to pick up the AirFryer, she was told that the product was sold out. Jennifer's dilemma is referred to as the _______, the anticipation of receiving a highly desirable option only to have it become inaccessible.

Answers

Jennifer bought an AirFryer online and chose an in-store pick-up option. When she went to pick up the AirFryer, she was told that the product was sold out. Jennifer's dilemma is referred to as the classic dilemma, the anticipation of receiving a highly desirable option only to have it become inaccessible.

What is classic dilemma?

Classic dilemma is a type of dilemma where an individual does not have a choice to pick or select.

The individual is faced with just a choice from the option.

Therefore, Jennifer bought an AirFryer online and chose an in-store pick-up option. When she went to pick up the AirFryer, she was told that the product was sold out. Jennifer's dilemma is referred to as the classic dilemma, the anticipation of receiving a highly desirable option only to have it become inaccessible.

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Natasha is listening to dominick talk about his plans to build his kids a tree house. although he has been talking for some time, she hasn't been able to extract the main point. she has asked questions to clarify what he says. she still isn't sure about what he's saying, so she repeats what he said to see if she has it right. she makes sure not to judge what he's saying since she didn't understand. she decided that she would take notes the next time. which part of this description exemplifies analytical listening?

Answers

The part that has to do with analytical listening is, she has asked questions to clarify what he says.

What is analytical listening?

This is the type of listening that is done in such a way that what is being said would be properly analyzed.

This is not just about understanding what is being said. It has to do with division of questions to get to the main points.

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Which of these is the MOST accurate way to describe a typical manager from one hundred years ago?
OA gentle and kind
OB. strict and enforcing
OC. busy yet friendly
OD. talkative and bored

Answers

Answer:

The answer is strict and enforcing.

Explanation:

This is because the manager would keep all their workers in place, and prevent them from breaking any rules.

I’m going to go with strict and enforcing because back then was a different time period that we are in rn

Ali had previously calculated the Economic Order Quantity required to efficiently control costs at his company. His calculations proved accurate in the short term. However, after a certain point, it was found that his calculations differed from the actual costs. What could have happened at this point to create a mismatch between Ali’s calculations and the actual expense?
A.
demand for the company’s product changed
B.
the company had an excess of intermediate inventory
C.
the storage capacity for output inventory was full
D.
salary increases were put on hold

Answers

The mismatch between Ali’s calculations using the Economic Order Quantity model and the actual expense was caused by A. demand for the company’s product changed.

What is the Economic Order Quantity model?

The Economic Order Quantity model (EOQ) shows the ideal order quantity a company should purchase or produce to minimize inventory costs (holding costs, shortage costs, and ordering costs).

EOQ assumes constant demand, ordering, and holding costs over time.

The model is computed as EOQ = square root of: [2(setup costs)(demand rate)] / holding costs.

Thus, the mismatch between Ali’s calculations using the Economic Order Quantity model and the actual expense was caused by A. demand for the company’s product changed.

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Monetary policy refers to government actions that pursue what goal

Answers

Explanation:

help me to find Xian pleaseee:( i miss him so much:(

sorry for answering Non sense po i hope u understand me ty po!

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