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sergiy2304 [10]
2 years ago
8

bombeck inc. has the following transactions during august of the current year. aug. 1: opens an office as a financial advisor, i

nvesting $5,000 in cash in exchange for common stock.
Business
1 answer:
Paha777 [63]2 years ago
5 0

The journal entries required are as follows:

Dr. Cash  $5,000

Cr. Stockholder's equity $5,000

What is appropriate journal entries for the $5,000?

The financial advisor is investing in his new company, Bombeck Inc, in other words, the cash of the company would increase by $5,000 whereas the equity capital also increases by the same amount.

In essence, we would debit the receiving account, cash and credit the giving account, stockholder's equity in order to effect the necessary journals in respect of the common stock investment, upon the opening of the office.

Find out more about stockholder's equity on:brainly.com/question/24696643

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Policies related to setting interest rates, control of currency supply, and the buying/selling of treasury bonds are referred co
Zolol [24]

Policies related to setting interest rates, management of money supply, and the buying/selling of treasury bonds are referred collectively as <u>Monetary policy</u>

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8 0
1 year ago
Which Act is the amended from of the Consumer Credit Protection Act?
Andreyy89

the answer is c i hope this helps

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6 0
3 years ago
The newspaper reported last week that Bennington Enterprises earned $28 million this year. The report also stated that the firm�
rosijanka [135]

Answer: a). Firm's growth rate = 10.5%

b). Next year's earnings = $30,940,000.00

Explanation: Earnings growth rate is the percentage change in earnings given specific variables.

The firm's earnings growth rate g = Return on equity (ROE) × Retained earnings (b) = 0.15(0.70)

g =0.105 or 10.5%

In finding next year's earnings, we multiply the current earnings times one plus the growth rate.

Next year's earnings = Current earnings(1 + g)

Next year's earnings = 28,000,000(1 + 0.105)

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7 0
3 years ago
Read 2 more answers
Suppose that the demand and price for a wrist watch are related by the following equation:
Natasha2012 [34]

Answer:

a. $28

b. $19

c. 800 watches

Explanation:

The equation is

p = D(q) = 28 - 2.25

The equation of the demand would be

P = 28 - 2.25q

a. The price would be

= $28 - 2.25 × 0

= $28 - 0

= $28

b. The price would be

= $28 - 2.25 × 4

= $28 - 9

= $19

The quantity demanded is come in hundreds so we take only 4

c. The quantity woul dbe

$10 = $28 - 2.25q

$10 - $28 = -$2.25q

-$18 = -$2.25q

So q would be

= 800 watches

4 0
3 years ago
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