1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
pickupchik [31]
2 years ago
10

Give the journal entry (FOR FULL CREDIT ALWAYS GIVE JOURNAL ENTRIES IN PROPER FORM: see Hints/FAQ tab for guidelines) when a bui

lding is purchased for $20,000 cash & a notes payable for $40,000:
1. Both the account title AND dollar amount being credited MUST be indented to show right vs. left.
2. The total dollar amount being debited MUST equal the total dollar amount being credited.
3. Do NOT use the $ sign or the words "debit" or "credit" as this is evident when you use proper form.
4. Line up the BEGINNING of your account titles & END of dollar amounts being debited vs. those being credited.
CORRECT FORM: Equipment 20,000
Cash 1,000
Common Stock 21,000 line up names/dollar amounts being credited vs. debited
Business
1 answer:
Digiron [165]2 years ago
8 0

The journal entry of a building being purchased will be, a debit in the building account by $60,000; and the cash account and payables account will be credited by $20,000 and $40,000 respectively.

<h3>What is a Journal Entry?</h3>

A method of recording the monetary transactions of a business firm throughout a financial period, in such a way that effects of the same are reflected in the financial statements, is known as recording of journal entries.

Hence, the effect of the journal entry has been given above, and an image is also provided for better understanding of the concept for the readers.

Learn more about journal entry here:
brainly.com/question/20421012

#SPJ1

You might be interested in
FIRST ANSWER GETS BRAINLIEST!
klio [65]

Answer:

C

Explanation:

5 0
2 years ago
The market price people are willing to pay for a unit of a particular commodity is determined by A. the sum of average and margi
kkurt [141]

People are willing to pay for a unit of a particular commodity is determined by Marginal utility.

Explanation:

Marginal utility (MU) is characterized as the additional utility obtained from the use of one additional unit of a good or service, or the increased use of an increased unit by an entity.

Economists use the idea of marginal utility to assess how much of an item consumers can purchase. Positive marginal utility happens when the consumption of an additional item increases the total utility, while negative marginal utility occurs when the consumption of an additional item reduces the total utility.

8 0
3 years ago
Barclay Bikes manufactures and sells three distinct styles of bicycles: the Youth model sells for $420 and has a unit contributi
sergey [27]

Answer:

the  firm's contribution margin per composite unit is $8,775

Explanation:

The computation of the firm's contribution margin per composite unit is given below:

= $165 × 5 + $510 × 9 + $560 × 6

= $825 + $4,590 + $3,360

= $8,775

Hence, the  firm's contribution margin per composite unit is $8,775

Therefore the same is to be considered and relevant

7 0
3 years ago
Assume that the labor market for barbers is competitive and that it is differentiated into two groups:
ehidna [41]

Answer and Explanation:

I will go through each and every option explaining the reasons and what option would be the best:

The (a) part says 'difference in wages will eventually disappear since a haircut is a homogeneous good' - This is not true because even though it is an homogeneous product, some customers do have a strong preference for barbers who are not going bald. Therefore, they know their worth and they would want to capitalize on that and get paid just a bit more than bald barbers.

The (b) part says 'barbershops that hire barbers with hair will be able to charge a higher price for a haircut to those consumers who have a strong preference for barbers with hair'. - If the barbershop charges higher price for barbers that have hair then the customers will prefer bald barbers as the questions mentions that there is high competition and since it is an homogeneous, customers would be willing to save money and get their haircut from some other barber.

The (c) part says 'barbershops that hire bald barbers will always be much more profitable' - Not necessarily. The reason is that some customers have a strong preference for barbers who are not bald and therefore, that would help barbershops who have barbers with hair to be a bit more profitable as some additional customers would want their services.

The (d) part says 'barbershops that hire barbers with hair will always be much more profitable' - This is the best option and the reason for it is because some customers have a strong preference for barbers with hair and that would help the barbershop to earn more. They would have the customers who already indifferent to whoever cuts their hair and in addition to that, they would also have the customers who have their preference.

Hence the answer is D.

4 0
3 years ago
____ is a short-term debt instrument issued only by well-known, creditworthy firms and is normally issued to provide liquidity o
monitta

Answer:

Commercial Paper.

Explanation:

A commercial Paper is an unsecured and negotiable money market instrument issued in the form of a promissory note. Are issued by companies to raise short term funds for meeting working capital requirements.

Benefits to the issuer:

-low interest expenses

-access to short term funding

-flexibility and liquidity

-investor recognition

-ease and low cost of establishment

-no collaterals

Benefits to the investor:

-higher yield

-portfolio diversification

-flexibility

-liquidity

4 0
3 years ago
Other questions:
  • An individual used Maslow’s work as the basis for his own work defining two different types of managers. Who is it?
    10·1 answer
  • A.To maximize its profits, the firm should produce units and charge a price of _______$ .
    11·1 answer
  • The _____ serves as the jfc's principal organization to draft the commander's information dissemination policy and coordinates i
    13·1 answer
  • Cost of merchandise sold reported on the income statement was $155,000. The accounts payable balance increased $8,000, and the i
    11·1 answer
  • An authoritarian leadership style is rarely effective in business. <br> True <br> or<br> False
    11·1 answer
  • Consider the following cash flows: Year Cash Flow 2 $ 22,400 3 40,400 5 58,400 Assume an interest rate of 9.2 percent per year.
    15·1 answer
  • Patrick Guitman recently graduated from college with $20,000 in student loans and $5,000 in credit card debt. He usually makes m
    7·1 answer
  • What were the two main opposing views of Adam Smith and Karl Marx?
    12·1 answer
  • how can good boilerplate tersm and conditions of contract still fail to protect an orgnaization against some risk
    6·1 answer
  • Superior has provided the following information for its recent year of operation: The common stock account balance at the beginn
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!