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2 years ago

Need help with accounting. ASAP

Business

1 answer:

suter [353]2 years ago

7 0

The Journal entries are as follows

June 1

DR Cash 60,000

CR Capital Stock 60,000

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

Journal entry is the debit and credit of accounts to balance the transactions and its two sided effects. This is the basic of Accounting and so have a great importance.

June 2

DR Aircraft 220000

CR Cash 40000

CR Notes Payable 180000

June 4

DR Rent expense 2500

CR Cash 2500

June 15

DR Accounts Receivable 8320

CR revenue 8320

June 15

DR Salaries Expense 5880

CR Cash 5880

June 18

DR Maintenance Expense 1890

CR Cash 1890

June 25

DR Cash 4910

CR Accounts Receivable 4910

June 30

DR Account Receivable 16450

CR Revenue 16450

June 30

DR Salaries Expense 6000

CR Cash 6000

June 30

DR Fuel Expense 2510

CR Accounts Payable 2510

June 30

DR Dividends 2000

CR Dividends Payable 2000The Journal entries are as follows

Learn more about Journal Entries at brainly.com/question/26963089

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Bobbi and Stuart are partners. The partnership capital of Bobbi is $35,300 and that of Stuart is $77,700. Bobbi sells his intere

SCORPION-xisa [38]

Answer:

The correct answer is:

John's capital account for $35,300 (c.)

Explanation:

In the admission of a new partner, the purchase of ownership from an existing partner to a new partner is entirely a personal transaction between the existing partner and the new partner, and the extent of partner bonus (the interest sold on the original partnership amount) is acquired by the exiting partner, but this bonus is not reflected in the partnership agreement, hence the amount credited into the new partner's account is the same as that owned previously by the exiting partner, irrespective of how much the partnership ownership was sold for.

Hence, since Bobbi's partnership capital was $35,300, John's account would be credited with the same amount even if the ownership was sold for $55,900, as the bonus goes to Bobbi.

7 0

3 years ago

Gonzo Co. owns a building in Georgia. The buildingâ€™s historical cost is $970,000, and $440,000 of accumulated depreciation has

ladessa [460]

Answer:

1. The cost to be capitalized to building account is $343,600

2. The subsequent carrying amount of the building is $873,600

Explanation:

1. In order to calculate the which of the costs incurred by Gonzo Co. should be capitalized to the building account we would have to use the following formula:

cost to be capitalize=Major improvement to the plumbing+Added a loby

cost to be capitalize=$109,000+$234,600

cost to be capitalize=$343,600

The cost to be capitalized to building account is $343,600

2. To calculate the subsequent carrying amount of the building we have to use the following formula:

subsequent carrying amount=Historical cost+improvements-Accumulated Depreciation

subsequent carrying amount=$970,000+$343,600-$440,000

subsequent carrying amount=$873,600

The subsequent carrying amount of the building is $873,600

5 0

3 years ago

A coffee distributor needs to mix a(n) Costa Rican coffee blend that normally sells for $9.50 per pound with a Kenya coffee blen

snow_tiger [21]

Answer:

5,11 pounds of Costa Rican coffee and 64,89 pounds of Kenya coffee

Explanation:

First, we need to know the proportion of every coffee in the mix trying with different percentages until getting the result of $13,49

($9,50*25%)+($13,80*75%)=$12,73

($9,50*10%)+($13,80*90%)=$13,37

($9,50*7,5%)+($13,80*92,5%)=$13,48

($9,50*7,3%)+($13,80*92,7%)=$13,49

So, the percentage of Costa Rican coffee is 7,3% and Kenya coffee is 92,7%

And we can get the pounds required to get 70 pounds

70*7,3%=5,11

70*92,7%=64,89

We need 5,11 pounds of Costa Rican coffee and 64,89 pounds of Kenyan coffee to create 70 pounds of mixed coffee that can sell for $13,49 per pound

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4 years ago

The Whalers are interested in trading their star left tackle. He is a veteran and makes $1.6 million per year. They are consider

Romashka-Z-Leto [24]

Answer:

$1,800,000

Explanation:

The veteran player makes $1.6 million per year.

The new prayer will be paid $1 million per year.

the Savings per year will be

= $1, 600,000 - 1,000,000

= $ 600,000

The savings in three years will be

=$600,000 x 3

=$1,800,000

3 0

3 years ago

2-1.3 Which of the following statements about data storage is (are) true? A chart of accounts is a list of the numbers assigned

monitta

Answer:

A chart of accounts is a list of the numbers assigned to each general ledger account.
A subsidiary ledger contains detailed data for any general ledger account with many individual subaccounts.

Explanation:

A chart of accounts contains a list of all the numbers assigned to balance sheet and income statement accounts. The account numbers allow transaction data to be coded, classified, and entered into the proper accounts.

Subsidiary ledger s are used to record details information for a general ledger account that contains many subaccounts, like accounts receivable (at last 1 subaccount per client), inventory (at least 1 subaccount per product) and accounts payable (at least 1 subaccount per creditor).

4 0

3 years ago

Read 2 more answers