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maxonik [38]
2 years 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]2 years ago
4 0

Answer:

fresh avocado

Explanation:

freeshombockumdoo

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During the year a donor pledged $1,000,000 in funds to a not-for-profit private charter school. The school will receive the pled
KonstantinChe [14]

Answer:

D) It would not be recorded.

Explanation:

FASB means Financial Accounting Standards Board.

Financial Accounting Standards Board is a private, non-profit organization standard-setting body whose primary purpose is to establish and improve Generally Accepted Accounting Principles (GAAP) within the United States in the public's interest. The Securities and Exchange Commission (SEC) designated the FASB as the organization responsible for setting accounting standards for public companies in the US.

No matter what kind of restriction a donor might impose, FASB standards require nonprofits to report finances in a way that makes it clear which funds have donor restrictions and which funds come without donor restrictions. FASB standards are in three categories: “unrestricted,” “temporarily restricted,” and “permanently restricted.”

Unrestricted are those items that have no donor-imposed restrictions

Temporarily Restricted are those items that were received with a donor-imposed restriction that will be satisfied in the future (generally within one year)

Permanently restricted assets are funds of a nonprofit organization that must be used in designated ways and whose principal cannot be touched.

Since the school will recieve the pledge ONLY if it is able to raise $500,000 in funds over the next year, then the pledge would not be recorded

3 0
3 years ago
If government tax revenues change automatically and in a countercylical direction over the course of the business cycle, this wo
luda_lava [24]

Answer: Option (C) is correct.

Explanation:

Correct Option: Political business cycle

If government tax revenues change automatically and in a countercylical direction over the course of the business cycle, this would be called a Political business cycle.

These cycles are present in macroeconomic variables such inflation rate, output and unemployment. There are two types of regime follow in this cycle are as follows:

(i) Regime A consist of expansionary polices which results in a economic growth and inflation. If the inflation rate is high enough then there is a withdrawal of policy.

(ii) Regime B consist of contractionary polices which results in reducing economic growth and inflation. It will become voted out if the unemployment is too high, replaced by Regime A. It generally lead to downward movement of the cycle.

7 0
3 years ago
Teams have better communication than other workers because they get to ______. A. Know each other better b. Attend communication
nadya68 [22]

A. Know each other better

Team refers to a group of people who come together to carry out interdependent task whilst also accomplishing a common mission or specific objective.

Team comprises individuals or employees who have complementary skills, knowledge and experience needed to execute a project successfully.

When a person is working in a team, he or she has the privilege of interacting with other team members hence create performance and strengthen the level of relationship amongst them.

It therefore means that teams have better communication than other workers because they get to know each other better in the course carrying out their duties.

learn more at : brainly.com/question/19724748

7 0
2 years ago
Ian participates in a 401(k) plan at work. For every $1 Ian contributes to the plan, his employer adds 50 cents. Employer contri
Inessa [10]

Answer: $5,150

Explanation:using the information given above,

For every $1 contributed by the employee, employer adds 50cent.

Employer contribution ends after employee contributes $2500 to the 401(k) plan.

Last year:

Ian's weekly contribution = $75

Number of weeks in a year = 52

Ian's total contribution ($75 × 52) = $3,900

Ian's Employer's total contribution:

$0.5 × $2500 = $1,250

Therefore total contribution last year :

$3900 + $1250 = $5,150

6 0
3 years ago
Maria is going to take out a loan with a principal of $19,700. She has narrowed down her options to two banks. Bank M charges an
Vadim26 [7]

Answer:

Loan principal amount = $19,700

Bank M:

Interest rate charges = 7.1% compounded monthly

Loan will be paid off in = Five years

Bank N:

Interest rate charges = 7.8% compounded monthly

Loan will be paid off in = Four years

From the above information, we would recommend that Maria choose her loan from Bank M if she wants a lower monthly payments and Maria choose her loan from Bank N if she wants a lower lifetime cost.

3 0
3 years ago
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