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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

#SPJ1

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Cost accounting is concerned with: Multiple Choice accumulation and determination of product, process or service cost. income me
Vinvika [58]

Answer:

D. All of the above.

Explanation:

Those stated are all concerned with cost accounting.

4 0
3 years ago
PureSource Pharma Inc. recently acquired BioChem Pharmaceuticals Inc. It now sells its own products along with the products orig
Licemer1 [7]

Answer: Puresource Pharma would have to reduce it's cost

Explanation:

Horizontal integration could be defined as the merge between two or more companies that carry out similar functions or market in production.

Puresource Pharma would have to reduce it's cost of product and either sell below or same cost as their acquired company's product. This would help promote her market and would give a monopoly for them for the market for both of them.

6 0
3 years ago
Apt Adapt Inc. is formed to coordinate the design and delivery of projects and products to help communities cope with the effect
natali 33 [55]

Answer:

c) a benefit corporation.

Explanation:

A benefits corporation is the corporation that creates a positive impact on the society and its well being. The directors and the officers of this corporation would operate the business with the similar authority and behavior as done in the traditional corporation but the decision impact affect not only the shareholders but also the employees, customers etc

So as per the given situation, the correct option is c.

6 0
3 years ago
How much can Azco Autosystems, Inc., afford to spend on an energy management system if the software will save the company $21,30
ivann1987 [24]

The amount that that  Azco Autosystems, Inc.,  can afford to spend on an energy management system is $80,744.

<h3>Present value</h3>

Using this formula

Present Value = A(P/A, 10%, 5)

Where:

A=$21,300

(P/A, 10%, 5)=3.79079

Let plug in the formula

Present Value = 21,300 (P/A, 10%,5)

Present Value = 21,300 (3.79079)

Present Value =80,743.8

Present Value = $80,744 (Approximately)

Inconclusion the amount that that  Azco Autosystems, Inc.,  can afford to spend on an energy management system is $80,744.

Learn more about present value here:brainly.com/question/15904086

4 0
3 years ago
If the population growth rate is 2​ percent, real GDP per person will double in 7 years if real GDP grows by​ ______ percent per
Valentin [98]

Answer:

With a population growth of 2%, the GDP has to grow 12.6% per year in order to real GDP per person double in 7 years.

Explanation:

It is necessary to state the formula to calculate the GDP growth per person in 7 years and some assumptions. Defining as base of population and GDP the number 100 (aleatory picked) we can write our equation: GDP per person in year 7 = 100(1+x)^7/100(1+0.02)^7=2 In this equation X is the fixed percentage of GDP growth. By iteration process, we get that X=12.6%

6 0
4 years ago
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