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maxonik [38]
1 year ago
11

Journalizing Transactions Monroe Company rents and sells electronic equipment. During September, Monroe engaged in the transacti

ons described below. Sept. 5 Purchased a Chevrolet truck for $44,300 cash. 8 Purchased inventory for $3,600 on account. 10 Purchased $1,400 of office supplies on credit. 11 Rented sound equipment to a traveling stage play for $12,800. The producer of the play paid for the service at the time it was provided. 12 Rented sound equipment and lights to a local student organization for a school dance for $3,200. The student organization will pay for services within 30 days. 18 Paid employee wages of $4,170 that have been earned during September. 22 Collected the receivable from the September 12 transaction. 23 Borrowed $14,100 cash from a bank on a 3-year note payable. 28 Issued common stock to new stockholders for $40,000. 30 Paid a $4,350 cash dividend to stockholders.
Required: Prepare a journal entry for each transaction. Sept. 5 (Record purchase of truck) 8 (Record purchase of Inventory on account) 10 (Record purchase of supplies on account) 11 (Record performance of services) 12 (Record performance of services on account) 18 (Record payment of wages) 22 (Record collection of cash on account) 23 (Record borrowing of cash) 28 (Record issuance of common stock) 30 (Declared and paid cash dividend)
Business
1 answer:
Tamiku [17]1 year ago
4 0

Answer:

fresh avocado

Explanation:

freeshombockumdoo

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The option of sticking with the current business lineup makes sense when
Mashutka [201]

Answer:

The correct answer is c. the company's present businesses offer attractive growth opportunities and can be counted on to generate good earnings and cash flows for shareholders.

Explanation:

A commercial line of products refers to products that are related to each other by some condition such as price, use or distribution. If, after evaluating the market, it is found that these products have a high growth potential, the best thing would be to continue betting on them within a reasonable period of time to reach a considerable level of sales. These products can in some way motivate the sale of others and therefore generate profits in the medium or short term for the shareholders.

4 0
3 years ago
A company rents a building with a total of 50,000 square feet, which are evenly divided between two floors. The company allocate
shtirl [24]

Answer:

$8,000

Explanation:

The computation of the monthly rental expense allocated is shown below:

Rent allocated to 1st floor:

= $30,000 × 2 ÷ 3

= $20,000

There is 50,000 square feet i.e. equally divided between first floor and second floor. so 25,000 square feet for each floor.

Now  

Rent allocated to 10,000 square feet:

= ($20,000 ÷ 25,000) × 10,000

= $8,000

8 0
2 years ago
Best Construction, Inc., and General Real Estate Corporation form a joint venture. A joint venture is usually formed for
STALIN [3.7K]

Answer:

for mutual benefits

Explanation:

A joint venture is a business arrangement made between two parties that agree to come together and unite all of their resources in order to accomplish a specific common goal. Joint ventures are usually formed for mutual benefits, both companies involved benefit greatly from reaching the end-goal that they are working towards, but which neither company could do it without the other's resources.

6 0
3 years ago
Which of the following statements is true? A. The law requires a home inspection prior to every property transaction. B. Most ho
SOVA2 [1]
The correct option is A.
Home inspection refers to the examination of the condition of a home prior to buying. Home inspections are usually conducted by professional home inspectors who had been trained on that field. The law demands that a property should be inspected prior to buying and selling of that property. Home inspection is done purposely to identify any problem that might be associated with the property.
8 0
3 years ago
A travel agency discovers that it has been charged for payments to a print shop drawn on checks written by an unknown third part
trasher [3.6K]

Answer:

Forgery or Alteration Coverage Form.

Explanation:

The travel agency loss would be covered under Forgery or Alteration coverage form.

Under Commercial Crime insuring agreement, It insures an individual or business against the forgery or alteration of financial instruments e.g promissory notes, drafts, and checks with respect to payment of a sum of money that was made or drawn by the insured or anyone acting on his/her behalf such as next of kin.

8 0
2 years ago
Read 2 more answers
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