Malika has a credit card balance of $1321. her credit limit is $10,000. what is her available credit on this card?

Answers

Answer 1

With credit card balance of $1321, $10,000 - $1321 = $8679, Available credit balance is $8679

The amount you currently owe your credit card issuer is known as your balance. Your balance is increased by the purchases you've made with the card and the cash advances you've gotten. This includes any fees and interest your credit card provider may charge you.

When you transfer a balance from another account, the transferred balance and any associated fees are also added to the balance on your card. Balances fluctuate depending on when and how they are used; they rise when purchases are made and fall when payments are made by cardholders. Any sum that is left over at the end of the billing cycle is added to the bill for the following month and is subject to interest.

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Related Questions

Which are indicators that economist used to measure how an economy grows?

Answers

In addition to GDP, the Consumer Price Index (CPI), that also measures pricing power as well as inflation, and the Monthly Unemployment Report, which includes weekly non-farm payrolls, are two of the most important measures of economic growth.

An economic indicator is indeed a piece of economic data, typically on the macroeconomic scale, that analysts use to interpret future or current investment opportunities. These indicators can also be used to assess an economy's overall health.

Economic indicators may be anything the investor wants them to be, but specific data provided by the government and non-profit organisations has become widely followed. Economic indicators could be classified or grouped. Most of these economic indicators have such a set release schedule, allowing investors to plan for and anticipate seeing certain information at specific times of the month and year.

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which of the following would be considered a supply-side policy? group of answer choices an increase in government regulations that require businesses to internalize pollution costs decreasing taxes to increase the incentive to work an increase in government spending that would lead to increased aggregate demand increasing the amount of social security contributions paid by businesses to help fund the social security program

Answers

Option C) investment tax credits for businesses to encourage investment would be considered a supply-side policy.

Supply-side policies are policies aimed at increasing the productivity and efficiency of the economy. The goal of supply-side policies is to increase the economy's productivity and trend growth.

The idea is that better economic performance drives economic growth. Supply-side policies aim to address market imperfections to make production more efficient and reduce inflationary pressures.

It increases productivity, reduces unemployment, reduces inflationary pressure, sustainable growth, increases economic growth and competition.

Here, investment tax credits for businesses in order to encourage investment is considered a supply-side policy.

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Complete Question:

Which of the following would be considered a supply-side policy?

A) an increase in the minimum wage that would cause consumer spending to increase

B) an increase in government spending that would lead to increased aggregate demand

C) investment tax credits for businesses to encourage investment

D) a decrease in the growth of the money supply

Which are the 5 main events on Scrum?

Answers

These five events are: Sprint Planning; Daily Scrum; Sprint Review; Sprint Retrospective; The Sprint.

Sprint Planning: The Product Owner and Developers debate which Product Backlog Items (PBIs) will be included in the Sprint at this event, which marks the beginning of each Sprint.

Daily Scrum: Scrum aims to utilize your time and resources as effectively as possible, and the Daily Scrum event is no exception. The Daily Scrum has a 15-minute time limit. It is optional to stand up. However, many teams find that using this tactic helps to keep the activity brief and focused.

Sprint Review: Typically, a Sprint Review occurs on the final day of the Sprint, giving the Scrum Team the chance to show stakeholders the Done Increment.

Sprint Retrospective: The Scrum Team evaluates what may be done better for upcoming sprints and how to proceed at this point.

Sprint: All of the labor and other activities that take place during the time-boxed development period are contained in the Sprint, which is an event unto itself.

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a company produces a part at the rate of 200 units per day. daily usage (demand) for the part is 40 units. the cost to setup for a production run is $250 and holding cost is thought to be $1.20 per unit per year. annual demand is 12,000 units and is constant over the 300 days a year the company is operating. if the company produces this part according to the optimal production run quantity (q) then the number of production runs per year would be: group of answer choices 12

Answers

The correct answer is D ; 4.8

Daily demand =40

Annual demand =12000

cost per order=set up cost=250

holding cost per unit per year =1.2

Number of working days =300

Annual production rate =Daily production rate * Number of working days=200*300=60000

Economic production quantity is given by the formula ,

EPQ=sqrt[2*Annual demand*cost per set up/(1-demand rate/production rate)*holding cost per unit per year)]

=sqrt[2*12000*250/(1-40/200)*1.2]

=[2*12000*250/(0.8)*1.2]

=[2*12000*250/0.96]

=2500 items per run

Number of production runs=Annual demand/EPQ=12000/2500=4.8

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Full Question ;

A company produces a part at the rate of 200 units per day. Daily usage (demand) for the part is 40 units. The cost to setup for a production run is $250 and holding cost is thought to be $1.20 per unit per year. Annual demand is 12,000 units and is constant over the 300 days a year the company is operating. If the company produces this part according to the optimal production run quantity (Q) then the number of production runs per year would be:

A 12

B 8.6

C 6.3

D 4.8

What are the 2 types of price controls called?

Answers

The two types of price controls are called Price ceilings and price floors

What is the term price control?

In simple terms, governmental minimum or maximum prices that may be charged for particular goods are known as price controls.

As implied by their names, they act in the opposite manner. A price ceiling establishes a maximum cost, preventing prices from rising above a certain point, and limits how much you must pay or can charge for something.

Prices on drugs (to make medication and health care more affordable), rent control (where governments impose a maximum amount of rent that a property owner can charge and the limit on how much rent can be increased each year).

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What is not a scrum event?

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There is no explicit event in Scrum that addresses the refining of the product backlog.

Instead, according to the Scrum Guide, the "Scrum Team selects how and when refinement is done," and "refinement normally occupies no more than 10% of the Development Team's capacity."

Sprint Backlog: The selection of Product Backlog items for Sprint, as well as a strategy for delivering the product increment and achieving the Sprint Goal.

Scrum is a project management system that prioritizes collaboration, responsibility, and incremental advancement toward a clear objective. The framework starts with a straightforward directive: Begin with what is visible or understandable. After that, evaluate the results and make any required adjustments.

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What is difference between stagflation and inflation?

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The occurrence of both inflation and economic stagnation at the same time is known as stagflation. Price increases for goods and services over time are referred to as inflation. High economic growth and employment are caused by inflation, but slow economic growth and high unemployment are caused by stagflation.

What is stagflation?

Stagflation, sometimes known as recession-inflation, is an economic condition in which the unemployment rate is consistently high, the inflation rate is high or rising, and the rate of economic growth is slow. For economic policy, it creates a conundrum because measures taken to reduce inflation may make unemployment worse. In 1965, when the UK was experiencing both high inflation and rising unemployment, Macleod used the phrase in a speech to the British Parliament. Despite the fact that John Maynard Keynes did not coin the phrase, some of his writings make reference to the circumstances that most people would associate with stagflation. In the Keynesian macroeconomic theory that predominated from the conclusion of World War II until the late 1970s, inflation and recession were thought to be mutually exclusive, with the link between the two being modeled by the Phillips curve.

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Who is responsible for the payment of duties and taxes on imported goods?

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Answer:The importer

Explanation:

Michael noticed an inaccuracy in his credit report and he is interested in applying for a new credit card next month. Which action should he take? everfi.

Answers

The correct course of action will be to report to the credit bureau since he found an error in his credit report and is also interested in applying for a new credit card next month.

What function does a credit bureau serve?

A credit bureau is essentially a credit reporting agency that gathers and analyses information about each individual's credit history before selling it to creditors for a fee so they can decide whether to extend credit or provide loans.

The majority of the time, these credit bureaus gather and analyse information regarding a person's credit and then sell it to the inquiring creditors for a fee so they can decide whether or not to provide loans.

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raneem saw an ad in one of the magazines that she subscribes to for mobile klean, which is a product that can be used to clean surfaces within the home and can be carried in a purse or pocket. since raneem worries about germs on her mobile phone, she was drawn to the ad. what step of the aida model is described in this example?

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According to the statement the step of the AIDA model is described in this example is desire.

Where can I obtain several publications for nothing?

Before they are discarded, your local retailers and libraries might be ready to offer you outdated issues of magazines for free. This might be a particularly excellent choice for you when you require magazines in large quantities for learning or creative reasons or if you don't care about getting the most recent edition.

Briefing:

Getting your customer to take the first action is the final phase in the AIDA methodology. Brilliant pr should inspire people to act IMMEDIATELY by creating a sense of urgency.

Raneem is at the AIDA model's desire phase by subscribing to Mobile Klean.

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The complete question is-

Raneem saw an ad in one of the magazines that she subscribes to for Mobile Klean, which is a product that can be used to clean surfaces within the home and can be carried in a purse or pocket. Since Raneem worries about germs on her mobile phone, she was drawn to the ad. What step of the AIDA model is described in this example?

a. Desire

b. Interest

c. Action

d. Attention

A firm with alliance management capability is able to effectively manage which of the following tasks? (Check all that apply.)

a. purchase of the alliance partner
b. alliance design and governance
c. post-formation alliance management
d. partner selection and alliance formation

Answers

A firm with alliance management capability must effectively manage alliance design and governance, post-formation alliance management and partner selection and alliance formation

A firm with alliance management capability must effectively manage -

Alliance design and governance: This involves defining the scope and goals of the alliance, and establishing the decision-making processes and communication protocols used to manage the alliance.

Partner selection: It is important to carefully select partners who are aligned with alliance objectives and who have resources and expertise to contribute to its success.

Alliance formation: The process of forming an alliance involves negotiating and finalizing the terms of the agreement, and establishing the mechanisms for collaboration and communication.

Post-formation management: Once the alliance is formed, it is important to actively manage and maintain the relationship to ensure its ongoing success.

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what questions might you ask to learn more about the company? check all that apply. what training programs are available from this organization? how is job performance evaluated? what is the organizational structure and where does this position fit in? how long do employees generally stay with this organization?

Answers

What makes me desirable in today's job market? and  What would my instructors say is my greatest strength?

What does the term "company" mean?

A organization is a legal person that a group of people to conduct and manage a business venture, whether it be corporate or industrial. Depending here on corporate legislation of its country, a corporation may be set up in a variety of ways including tax and financial responsibility reasons.

What does "enterprise" mean?

Due to the desire of its employees to create value, a business is referred to as a firm. Romans is the root of the word "produce," meaning means to lead forth or push forth. Old French, which means campaigned or camaraderie, is where the word "company" first arose. Additionally, the word "business" has its roots in Old English, which blends busy with -ness.

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A feature of sports is that they are _____.

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A feature of sports is that they are Sites where racial and ethnic relations perpetuated and changed

The research of the social, political, and trade aspects between ethnicities and races at all levels of society is recognized as race and ethnic relations sociology. This profession studies systemic racism, such as segregation and discrimination and other complicated processes involving different racial and ethnic groups. In general, race refers to a group of people who share some visible physical characteristics, such as skin colour, hair texture, facial features, and eye formation.

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Why is Sudan important to the United States?

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Since 2011, the United States and Sudan have had a positive trade balance in goods.

Briefing:-

The United States and the Common Market for Eastern and Southern Africa have a trade and investment framework agreement, and Sudan is a member of that organization. The Department's Key Officers List contains a list of the principal embassy representatives.

What makes Sudan unique?

However, the ancient Nubian civilization erected around 200 pyramids in Sudan, more than in Egypt, starting as early as 2500 BC. The most well-known location in the nation is arguably the UNESCO-listed Archaeological Sites of the Island of Meroe.

Why does the United States support Sudan?

The execution of the north-south Comprehensive Peace Agreement that results in a peaceful Sudan after 2011 or an orderly road toward two separate and viable states at peace are the three main goals of U.S. aid to Sudan. The other two goals are to support regional stability.

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What are some of the major issues having to do with Social Security today?

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Payroll taxes are no longer enough to pay for all benefits.So each month, Social Security takes more and more money out of the trust fund. And the reason is the retirement of the great baby boom generation.

Claiming Social Security too soon is one of the most common mistakes we see says Drake.Although 62 is the earliest and most popular age to claim your benefits, your monthly check will be permanently reduced by 25 percent or more.Over the next ten years, the Social Security.The next generation isn't as large, so Social Security doesn't get enough tax revenue Administration will reduce its reserves as the number of workers paying for a growing number of beneficiaries decreases.This is due to a decline in the birth rate after the baby boom period that took place just after World War II,from 1946 to 1964. Social Security provides an income base on which workers can build to plan your retirement. It also provides valuable social security protection to workers who become disabled and to families whose breadwinners die.

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How can I get a loan with no job?

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Starting with your own bank or credit union is the best option. You can also inquire about assistance from internet lenders, but you'll need to do some research on which lenders provide loans that are appropriate for your situation.

How can an unemployed person get a loan?

The lender will take into account your income, credit history, and outstanding debts when you apply for a personal loan.

For the purposes of this article, we'll assume that your credit score meets the minimum standard set by the lender.

In addition to any existing debt payments you already have to make in light of your commitments and income, the lender wants to ensure that you will have enough money coming in to repay the new loan payment.

To be eligible for an unsecured loan, your income does not need to come from a job. Many other things could contribute to your income. Even without any income, you can get authorized for a secured loan.

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why might a military taxpayer want to consider making contributions to the military thrift savings plan while deployed to a combat zone? nontaxable combat pay is

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D) Not taken into account when calculating the savers' credit in agi. Consequently, the contributions to the military thrift savings plan may enhance the tax advantages of retirement savings.

You are contributing tax-free earnings to the TSP in the conflict zone. This not only gives you a huge advantage over compounding.

But it also means that you can put more money into your TSP account instead of "contributing" it to the income-tax fund of the U.S. Treasury through tax returns and withholding.

Military: How does TSP work?

3% of your basic pay is deducted from your paycheck each pay period and deposited in the traditional balance of your TSP account if you are a member of the uniformed services and started serving on or after January 1, 2018, and your service automatically enrolled you in the TSP (or will once you have served 60 days).

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Full Question = why might a military taxpayer want to consider making contributions to the military thrift savings paln while deployed to a cpmbat zone? nontaxable combat pay is

a a good source of funds to help the tax payer increase his or her tax basis in the military thrift savings account.

b subject to fica taxes and contributions to the military thrift savings plan can defer fica tax on at least some of the combat pay.

c not included in agi for purposes of deteriming taxability of current contibutions to the military thrift savings plan. therefore the taxpayer can pay tax on his or hers current contributions at a lower rate.

d not included in agi for purpose of determing the savers credit. therefore the contributions to the military thrift savings plan may increase the tax benefits of saving for retirement.

Final Assessment Questions (40 of 45) SUBMIT A data governance system is effective if:
O Anyone can access the data when they need it.
O There are strict rules prohibiting access to data.
O Data used in decision making is of consistent quality and from reliable sources
O There are no data breaches.

Answers

A data governance system is effective if anyone can access the data when they need it. Thus option (A) is correct.

What is data?

The data is the processed form of raw information, more specifically it has facts, figures, measurements and amounts that is gathered for analysis or reference. So that a conclusion can be drawn in a proper way.

The data, especially facts or numbers, collected to be examined and considered and used to help decision-making, and the data can be stored in an electronic form  in the database and used by a computer in the future.

Like a data governance system is effective if anyone can access the data when they need it. Therefore option (A) is correct.

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What could be the best approach to engage your stakeholders falling in the category of low power low interest in a power interest grid?

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monitoring could be the best approach to engage your stakeholders falling in the category of low power low interest in a power interest grid.

A low interest rate environment exists when the risk-free interest rate, which is normally determined by a central bank, is lower than the historical average over an extended period of time. In the US, the interest rate on Treasury securities serves as a broad indicator of the risk-free rate. Extreme low interest rate settings include those with zero interest rates and negative interest rates. During a downturn in the economy, the Federal Reserve will decrease interest rates to encourage growth. That translates into lower borrowing prices. Because it will lower their monthly mortgage payment, a low interest rate environment is wonderful for homeowners. Likewise, the lower prices might draw potential homebuyers into the market. More money for spending is available to customers thanks to low borrowing rates.

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Who is responsible for prioritizing the iteration backlog?

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Prior to new release planning, the Product Owner (PO) will have organized some preliminary generation goals, based on the team's growth in the Program Increment (PI) so far.

Typically, the Product Owner starts the event through reviewing the proposed iteration goals and the higher-priority tales in the crew backlog.

Who is responsible for prioritized product backlog?

The product owner

The product proprietor prioritizes the backlog at the start of the project, but does not adjust it as remarks rolls in from builders and stakeholders. The group limits items on the backlog to those that are customer-facing.

The generation backlog, consisting of the stories committed to for the iteration, with honestly defined acceptance criteria. A announcement of Iteration goals, normally a sentence or two for every one, mentioning the enterprise objectives of the iteration. A commitment with the aid of the crew to the work wanted to achieve the goals.

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What is the authors purpose in Silent Spring?

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The purpose of "Silent Spring," a book by rachel Carson, was to demonstrate how pesticides harm the environment. Carson demonstrates how pesticide chemicals can kill species that do not dwell close to them, such birds, especially eagles, by moving up the food chain.

She explains that by lingering in fat cells, where they degrade and impact other cells in the body, toxins can cause cancer in people. Carson provides natural alternatives as he wraps up the book.Both authors urge readers to prioritise conserving trees and defending human rights. With their pieces, they hope to both amuse and persuade readers of their point of view.

In "conserve the redwoods," by john muir, the author presents facts and data to persuade readers to rescue the sequoia, a type of tree, yet in "Silent Spring," by rachel carson, she invents a fictitious scenario about what life in the united states will be like if we don't save the environment. I'm fairly certain that there is a recurring element that best compares the author's objectives in "silent spring." "and "rescue the redwoods," the environment is a theme that runs through both tales. The moral of both of these tales is that we have a responsibility to protect the environment and to treat nature with care and caution.

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Ways to record money out using QBO include: a. Enter Bill > Pay Bills b. Check c. Expense d. Purchase Order > Bill > Pay Bills e. All of the above

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Ways to record money out using QBO include all of the above. Option (e) is correct.

What do you mean by Bill?

An accounting document that details the price a customer must pay for a good or service is referred to as a "bill." It is also regarded as a reminder for payments. Before the payment is delivered, a bill is issued, and it is used once and right away.

Interest Earned, Investments from Owners, Bill > Pay Bills, and Purchase Order > Pay Bills are the four main methods that QBO records money out.

You can enter future-payable transactions in QuickBooks, such as expenses spent, materials bought, or services rendered by a vendor. You can keep track of all your accounts payables in this way, knowing which bills need to be paid when and when. Select Enter Bills from the Vendors menu.

A chronological list of your cash transactions should be kept in your cash receipts journal. Record each monetary transaction in your cash receipts journal using your sales receipts. The sales tax you gathered shouldn't be entered in the cash receipts diary. This needs to be noted in the sales.

Therefore, Option (e) is correct. Ways to record money out using QBO include all of the above.

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Can someone ride with you while doing Shipt?

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No, people who use Shipt for grocery delivery must be alone in their vehicles. Shipt shoppers are required to be alone in the vehicle due to safety concerns, as it is important to ensure that shoppers are not distracted or hindered in any way by a passenger while they are shopping.

Shipt is a grocery delivery service that allows customers to order their groceries online, and a shopper will then shop for the groceries and deliver them to the customer’s door. The shopper is expected to shop for the groceries on their own, and as such, they are not allowed to have any passengers in the vehicle while they are doing their job.  . Furthermore, having a passenger in the vehicle could potentially lead to an increase in vehicle insurance costs, as it could be seen as an added risk. Shipt also has a strict no-tolerance policy towards any illegal activity being conducted while a shopper is on the job, and this includes having a passenger in the car. If a shopper is found to be in violation of this policy, they can face disciplinary action, including being removed from the platform. For these reasons, it is not possible to have a passenger while doing a Shipt delivery.

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kara wants to subscribe to a streaming tv service. she spends a considerable amount of time researching netflix and sling tv. in the end she choses to subscribe to sling tv. now, however, she hears her friends talking about a great series that is only available from netflix and she wonders if she made the right decision. this scenario exemplifies the concept of

Answers

According to the research, the correct answer is post-purchase dissonance. Kara hears her friends talking about a great series that is only available from netflix and she wonders if she made the right decision. This scenario exemplifies the concept of post-purchase dissonance.

What is post-purchase dissonance?

It alludes to the internal discomfort that a person suffers when the decision made is in conflict due to a feeling of non-conformity, doubt, regret regardless of the meaning of her decision.

In this sense, a consumer can sometimes experience after making a purchase when the selected product has certain drawbacks while each of the rejected alternatives has some attractive features.

Therefore, we can conclude that according to the research, post-purchase dissonance is a phenomenon that usually occurs after the purchase of the product or service due to the possibility of not having made the correct decision.

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the document that provides basic guidance and regulatory requirements for derivative classification

Answers

There are two primary sources of policy direction for the classification of derivatives. The fundamental guidelines and legal criteria for the DOD Information Security Program are contained in DOD Manual 5200.

A Security Classification Guide (SCG) is a compilation of detailed instructions on particular programmes, systems, operations, or weapon systems that require the classification of information. What the Executive Branch agencies must undertake in order to comply with E.O. standards is further defined in DoD Policy Guidance for the DoD Information Security Program 13526. The DoD's Information Security Program receives implementation advice from the USD(I), or Undersecretary of Defense for Intelligence.

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Is a conclusion based on known information or observation?

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Inference  Is a conclusion based on known information or observation.

What is inference ?

An inference  can be regarded as the logical conclusion based on previous experiences, observations, asd well as knowledge which can be considered as educated guess however Inferences can lead us to a hypothesis.

It should be noted that Inferences involves the steps in reasoning, moving from premises to logical consequences it can be seen as the theoretically traditionally divided into deduction as well as  induction.

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-------------------Is a conclusion based on known information or observation?

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Why does the Fed increase the money supply during a recession?

Answers

To ward off a recession, the Fed has a number of monetary policy tools at its disposal. In order to boost demand and raise the amount of money, interest rates might be lowered.

Why does the Fed raise the money supply when the economy is struggling?

During a recession, monetary policy aims to boost overall demand by accelerating the expansion of the money supply. According to the idea of liquidity preference, decreasing interest rates will result from expanding the money supply. Higher investment spending results from lower interest rates, which raises overall demand.

What would motivate the Fed to expand the money supply?

the Fed uses its resources to regulate the money supply in order to support economic stability. The Fed boosts the amount of money available when the economy is struggling to promote growth On the other hand, when inflation is a risk, the Fed lowers the risk by reducing the supply.

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What did the Tennessee Valley Authority TVA and the public works?

Answers

The Tennessee Valley Authority was established by this act on May 18, 1933, to supervise the construction of dams for flood control, improved navigation, and the production of low-cost electricity in the Tennessee Valley basin.

Explain about the Tennessee Valley Authority?

The TVA was contentious from the beginning, like many other New Deal initiatives. Power firms bitterly opposed the TVA because they thought the agency threatened free enterprise and supplied cheaper energy.

The Tennessee Valley Authority (TVA) is a U.S. government organization that was set up in 1933 to create electricity along the Tennessee River and its tributaries, manage floods, enhance navigation, raise farmer living standards, and regulate floods.

The show was criticized for sounding too socialist by its detractors. Conservatives viewed the TVA as an example of the federal government having too much power and control because of the government-created jobs and government-guaranteed payments it provided. The TVA was also condemned by independent electric firms.

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an account that allows you to save money, as well as make deposits and withdrawals.

Answers

an account that allows you to save money, as well as make deposits and withdrawals. A checking account

What is a checking account, exactly?

Checking accounts at financial institutions allow for both deposits and withdrawals. Checking accounts, often referred to as demand accounts or transactional accounts, are reasonably liquid and accessible in a number of ways, such as through checks, automated teller machines (ATMs), and electronic debits. In contrast to other bank accounts, a checking account typically allows limitless withdrawals and deposits, but savings accounts could occasionally impose restrictions on both.

A checking account might be useful for anyone who frequently has to make withdrawals or transactions from a bank account. Typically, opening a checking account is a quick and simple process. A bank office is where you can apply in person or online.

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Journal entry worksheet <02 © © © © © © C An inventory count shows that teaching supplies costing $2,776 are available at year-end 2017. Note: Enter debits before credits. Transaction General Journal Debit Credit Journal entry worksheet < 0 2 3 2 6 6 © Annual depreciation on the equipment is $12,814. Note: Enter debits before credits. Transaction General Journal Credit Debit 12,814 Accounts receivable | Accounts payable 12,814 Journal entry worksheet ....... On November 1, WTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,500, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the Note: Enter debits before credits. Transaction Debit General Journal | Unearned training fees Training fees earned Credit 12,500 e. 38,937 View transaction list Journal entry worksheet < 1 2 3 4 5 On October 15, WTI agreed to teach a four-month class (beginning immediately) for an individual for $3,800 tuition per month payable at the end of the class. The class started on October 15, but no payment has yet been received. (WTI's accruals are applied to the nearest half-month; for example, Note: Enter debits before credits. Transaction General Journal Credit Debit 3,800 Accounts receivable Tuition fees earned 3,800 Journal entry worksheet LUUUUUUUUUUUU 6 WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $100 per day for each employee. Note: Enter debits before credits. Transaction General Journal Debit Credit 100 | Salaries expense Salaries payable 100 Required information Problem 3-3A Preparing adjusting entries, adjusted trial balance, and financial statements LO P1, P2, P3 [The following information applies to the questions displayed below.) Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2017, follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31, 2017, follow. Additional Information Items a. An analysis of WTI's insurance policies shows that $3,203 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,776 are available at year-end 2017. c. Annual depreciation on the equipment is $12,814. d. Annual depreciation on the professional library is $6,407. e. On November 1, WTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,500, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the sixth month will be recorded when it is collected in 2018. f. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an individual for $3,800 tuition per month payable at the end of the class. The class started on October 15, but no payment has yet been received. (WTI's accruals are applied to the nearest half-month; for example, October recognizes one-half month accrual.) g. WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $100 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December. WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2017 Credit $ Debit 26,642 0 10, 245 15,371 2,050 30,739 $ 9,223 71,718 Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation Professional library Equipment Accumulated depreciation Equipment Accounts payable Salaries payable Unearned training fees Common stock Retained earnings Dividends Tuition fees earned Training fees earned Depreciation expense-Professional library Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Totals 16,396 35,659 0 12,500 12,000 53,169 40,988 104,516 38,937 0 0 49,186 22,550 0 7,173 5,738 $ 282,400 $282,400 Required: 1. Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting entries are made only at year-end. No Transaction General Journal Debit Credit 3,203 Insurance expense Prepaid insurance 3,203 2,776 X Teaching supplies expense Teaching supplies 0X 3 C. 12,814 Accounts receivable Accounts payable 12,814 Cash 6,407 Accumulated depreciation—Professional library 6,407 12,500 X Unearned training fees Training fees earned 38,937 X Accounts receivable 3,800 X Tuition fees earned 3,800 X Salaries expense 100 X Salaries payable 100 X

Answers

A chronological accounting record of a company's financial transactions is called a general journal. This is primarily intended to assist with the production of financial statements and the reconciliation of accounts.

What is an example of a general journal?

A general journal is the initial record keeping that records all transactions, with the exception of those that are recorded in a specialty journal like a cash journal, purchase journal, or other similar journal. It details the date, description, credit, and debit of the transaction. peruse more data in a twofold accounting framework.

Which four kinds of journals are there?

There are four specialty journals, each of which is named after a particular type of routine transaction that is recorded in it. The sales journal, the cash receipts journal, the purchases journal, and the cash disbursements journal are these journals.

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