Business, 02.04.2020 02:51 vale1881

Taylor Marina has 300 available slips that rent for $800 per season. Payments must be made in full by the start of the boating season, April 1, 2021. The boating season ends October 31, and the marina has a December 31 year-end. Slips for future seasons may be reserved if paid for by December 31, 2021. Under a new policy, if payment for 2022 season slips is made by December 31, 2021, a 5% discount is allowed. If payment for 2023 season slips is made by December 31, 2021, renters get a 20% discount (this promotion hopefully will provide cash flow for major dock repairs).On December 31, 2020, all 300 slips for the 2021 season were rented at full price. On December 31, 2021, 200 slips were reserved and paid for the 2022 boating season, and 60 slips were reserved and paid for the 2023 boating season.(a) Prepare the appropriate journal entries for December 31, 2020, and December 31, 2021.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 21:40

Torino company has 1,300 shares of $50 par value, 6.0% cumulative and nonparticipating preferred stock and 13,000 shares of $10 par value common stock outstanding. the company paid total cash dividends of $3,500 in its first year of operation. the cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is:

Answers: 2

Answer

Business, 22.06.2019 10:00

Suppose an economy has only two sectors: goods and services. each year, goods sells 80% of its outputs to services and keeps the rest, while services sells 62% of its output to goods and retains the rest. find equilibrium prices for the annual outputs of the goods and services sectors that make each sector's income match its expenditures.

Answers: 2

Answer

Business, 22.06.2019 23:00

The five steps to financial success a. five money myths b. five foundations

Answers: 1

Answer

Business, 22.06.2019 23:20

You work as the sales manager for a company that sells office supplies to businesses of all sizes. because the profit margins are razor-thin, you need to ensure that you are getting the very best prices on paper, pencils, pens, post-it notes, and other office supplies from the manufacturers. when reviewing the quarterly profit statement, you realize that your costs are higher than they should be, and you trace the higher costs back to an employee who has been lax about getting competitive bids to ensure the lowest prices. when you conduct your research to determine the reason for the higher costs, and take action to bring those costs back down, in which of the key management processes are you taking part?

Answers: 3

Answer

You know the right answer?

Taylor Marina has 300 available slips that rent for $800 per season. Payments must be made in full b...

Questions