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natali 33 [55]
2 years ago
11

The business owner used $25000 from their personal savings account to but common stock in their company. what would be the journ

al entry?
cash debit cash 25000?
common stock credit common stock 25000?
Business
1 answer:
irina1246 [14]2 years ago
7 0

The accounting entry is to Credit Cash for 25000 and Debit Common Stock for 25,000

<h3 /><h3>What is journal entry?</h3>

Journal entry shows how a business financial transactions are being recorded.

Typically, when cash is withdrawn from a business or personal account, the accounting entry is to credit the cash account.

Hence, the accounting entry is to Credit Cash for 25,000 and Debit Common Stock for 25.000.

Learn more about journal entry here : brainly.com/question/14279491

#SPJ1

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Which one of the following statements concerning net working capital is correct?
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Answer:

D

Explanation:

Net working assets is current assets less current liabilities

Current assets include cash, cash equivalents and inventory

Examples of current liabilities include accounts payables, short-term debt, accrued expenses, and dividends payable

When inventory is purchased with cash, inventory increases and cash reduces, thus there is no change in net working capital

Net working capital can be negative or positive.

If current assets is greater than current liabilities, it would be positive, if this is not the case, it would be negative.

7 0
2 years ago
The following are several of the accounts from a recent balance sheet.
Burka [1]

Answer:

<u>Account Name</u>      <u>Balance Sheet Classification</u>    <u>DR or CR Balance </u>

1. Accounts Receivable                    CA                       Debit

2. Prepaid Expense                    CA                        Debit

3. Inventories                                    CA                       Debit

4. Long-Term Debt                   NCL                 Credit

5. Cash and Cash Equivalent    CA                 Debit

6. Accounts Payable                    CL                 Credit

7. Income Tax Payable                    CL                 Credit

8. Contributed Capital                    SE                         Credit

9. Property Plant and Equipment    NCA                 Debit

10. Retained Earning                    SE                  Credit

11. Short-Term Borrowing            CL                 Credit

12. Accrued Liabilities                    CL                 Credit

13. Goodwill (an Intangible Asset)  NCA                 Debit

 

Explanation:

6 0
3 years ago
Why is it important that your resume, cover letter, and job application all contain the same information?
ludmilkaskok [199]

Answer:

A cover letter is an important way to showcase how your unique combination of skills and experience meet the key requirements of the job description. It is your chance to show a clear link between your knowledge, experience and abilities and the needs of the employer.

Explanation:

3 0
3 years ago
A company had net income of $252,327. Depreciation expense is $21,821. During the year, Accounts Receivable and Inventory increa
Anettt [7]

Answer: Option (d) is correct.

Explanation:

Given that,

Net Income = $252,327

Depreciation expense = $21,821

Accounts Receivable increased by = $14,346

Inventory increased by  = $33,617

Prepaid Expenses decreased by = $3,079

Accounts Payable decreased by = $4,161

Loss on the sale of equipment = $5,398

Operating Income = Net Income + Depreciation expense - Accounts Receivable - Inventory + Prepaid Expenses - Accounts Payable + Loss on the sale of equipment

= $252,327 + $21,821 - $14,346 -  $33,617 + $3,079 - $4,161 + $5,398

= $230,501

7 0
3 years ago
The demand for subassembly S is 100 units in week 7. Each unit of S requires 1 unit of T and 2 units of U. Each unit of T requir
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Answer

The answer and procedures of the exercise are attached in the following image.

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

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