1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kozerog [31]
1 year ago
12

Mary parker co. invested $15,000 in abc corporation and received common stock in exchange. mary parker co.'s journal entry to re

cord this transaction would include a:__________
Business
1 answer:
topjm [15]1 year ago
6 0

Mary parker co. invested $15,000 in abc corporation and received common stock in exchange. mary parker co.'s journal entry to record this transaction would include a: Debit to investments.

What is a Journal Entry?

A journal entry is employed to record a business transaction in the accounting records of a business. A journal entry is typically recorded in the general ledger; alternatively, it's going to be recorded in a subsidiary ledger that is then summarized and rolled forward into the general ledger.

What is importance of journal?

Writing, like anything, improves with practice. once you journal every day, you're practicing the art of writing. And if you employ a journal to express your thoughts and ideas, it'll help improve your overall communication skills.

Learn more about journal entry:

brainly.com/question/14279491

#SPJ4

You might be interested in
The formula Nequalspplus0.02p models the new​ population, N, of a town with current population p if the town is expecting popula
Llana [10]

Answer:

4284 persons

Explanation:

The new population of the town will be computed as:

Increase in population = Current population × Increase in population %

where

Current population is 4200 persons

Increase in population % is 2%

Putting the values above:

= 4200 persons × 2%

= 84 persons

So, the new population would be:

New population = Current population + Increase in population

= 4200 + 84 persons

= 4284 persons

Therefore, next year, there would be 4284 persons

5 0
3 years ago
The Widget Co. purchased all of its fixed assets three years ago for $6 million. These assets can be sold today for $3 million.
oksano4ka [1.4K]

Answer:

$4,800,000

Explanation:

Widget corporation purchased all of its fixed assets three years ago for $6 million

These assets can be sold today for $3 million

The company receives $1.8 million in cash after liquidation of current assets

Therefore the market value of the company's total assets today can be calculated as follows

Market value = $3,000,000 + $1,800,000

= $4,800,000

Hnence the company's market value for today is $4,800,000

8 0
3 years ago
Refer to the information for Alfombra Inc. below.
Ann [662]

Answer:

<u>cost to be accounted for:</u>

beginning cost: 180,000

added cost        756,000

total cost         <em>   936,000</em>

<u>cost accounted for:</u>

ending WIP 30,000 x 5.2           =  156,000

trasnsferred-out: 150,000 x 5.2 =  780,000

total cost accounted for           <em>      936,000</em>

Explanation:

150,000 completed

 50,000 at 60%

weighted average equivalent unit:

complete + percetage of completion ending WIP

150,000 + 50,000 x 60% = 180,000

Cost per unit:

936,000 / 180,000 = 5.2 dollar per unit

we should match the total cost pool with the ending WIP and trasnferred out units

4 0
3 years ago
Inventory information for Part 311 of Whispering Corp. discloses the following information for the month of June.
bearhunter [10]

Answer:

FIFO: ending inventory: $9,528  COGS: $ 14,452

LIFO: ending inventory: $ 8,422 COGS: $ 15,558 (periodic)

LIFO:  ending inventory $ 9,035 COGS ·$ 14,945 (perpetual)

<em />

Explanation:

June   1     Balance 304 units @ $13   3, 952

June  11 Purchased 804 units @ $15  12,060

June 20 Purchased 498 units @ $16<u>  7, 968   </u>

Tota units 1,606 Cost available:         23,980

June 10 Sold 205 units @ $30

June 15 Sold 504 units @ $32

June 27 Sold 295 units @ $34

Total units: 1,004 units

<u></u>

Ending Inventory units: 1,606 - 1,004 = 602

<u>FIFO:</u>

first units are sold while last are ending inventory.

As we always pick from chronological order is the same under perpetual or periodic method.

<u><em>Ending Inventory:</em></u>     602 units

June 20 Purchased 498 units @ $16   7, 968   (602 - 498 = 104)

June  11 Purchased   104 units @ $15 <u>  1, 560    </u>

                      Total:                               9,528

<u><em>COGS:</em></u> Difference between cost available and ending inventory:

23,980 - 9,528 = 14,452

<u>LIFO:</u>

first units are part of ending inventory. As the units aren't picked in chronological order the values cahnges under perpetual and periodic method.

<u>periodic ending inventory:</u>

June   1     Balance 304 units @ $13   3, 952 (602 - 304 = 298)

June  11 Purchased 298 units @ $15<u>   4,470   </u>

                               Total                      8,422

COGS: 23,980 - 8,422 = 15,558

<u>perpetual method:</u>

Inventory after 1st sale: 304 - 205 = 99 units at 13

Inventory after 2nd sale.

99 untis at 13

804-504 = 300 units at 15

Inventory after 3rd sale.

99 untis at 13                           1,287

300 units at 15                        4,500

498 - 295 = 203 units at 16 <u>   3,248   </u>

<em>ending inventory:                  9,035</em>

<em>COGS: 23,980 - 9,035 = 14,945</em>

8 0
3 years ago
In economics, if a good is inelastic,
Mariulka [41]

In economics, if a good is inelastic, then <u>its supply or demand is not sensitive to price changes. </u>

Changes or fluctuations in market prices does not affect the supply and the Demand of inelastic goods.

<h2>Further Explanation; </h2>
  • Inelastic goods, are types of goods whose demand and supply is not affected by changes in market prices. That is an increase or decrease in market price does not affect their supply or demand.
  • When the price of an inelastic good changes, its supply and demand is unaffected.
  • Examples of such goods include, water and food. Therefore, for inelastic goods, the consumer buying strength and habits remain the same.
<h3>Demand and supply in determination of market price </h3>
  • Demand refers to the quantity of goods or services that consumers are willing and able to buy at a particular price while supply is the quantity of goods or services that suppliers are willing to supply to the market at a particular price.  
  • One of the factor that determine market prices are the forces of demand and supply, this is based on the ability and willingness of buyers and sellers to undertake selling and buying.
  • Buying and selling occurs at an equilibrium price that is agreed upon by sellers and buyers.  
  • This means the sellers and buyers are willing to exchange a certain quantity of a commodity at this price. Thus, price depends on the demand and supply in the market.
  • However, for <u>inelastic goods</u> such as water and food, the consumer has no option than to buy them at existing prices since they are necessity goods.

Keywords; Inelastic goods, demand and supply, market price.

<h2>Learn more about: </h2>
  1. Demand and supply; brainly.com/question/6749722
  2. Effect of supply and demand on market price: brainly.com/question/3522474

Level; High school  

Subject: Business

Topic: Demand and supply

Sub-topic: Types of goods

8 0
3 years ago
Read 2 more answers
Other questions:
  • Wilfrid laurier university bookstore conducts annual surveys of its customers. using xlstat answer
    14·1 answer
  • The production head at the canned juice unit of True Candy Inc. would frequently stay back after office hours and experiment wit
    5·2 answers
  • Jodi just described how Best Buy's new program required a very different way of defining work. Because the hours are no longer i
    9·1 answer
  • A. Use the midpoint formula to calculate elasticity of demand for the following data values for product A. Must show work to rec
    6·1 answer
  • How is going public a way to secure capital without going into debt? Name a company that has held an IPO.
    7·1 answer
  • Does anyone know what a good college would be to go to,for a vetanarian degree? and how many years does it take to become one?
    7·1 answer
  • Williams Optical Inc. is considering a new lean product cell. The present manufacturing approach produces a product in four sepa
    5·1 answer
  • Yvette is waiting in line to receive a free t-shirt at a charity event. Because the shirts are free, there are many people in li
    14·1 answer
  • If the quantity of real domestic output demanded increased by $1,000 at each price level, the new equilibrium price level and qu
    7·1 answer
  • what is the producer surplus if there is a $5 per unit transaction cost? (do not include the dollar sign $ in your answer)
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!