Answer:
The company issues new common stock.
Explanation:
As we know that the cash balance have the debit balance so if there is increase in cash balance so the balance would remain in debit itself
In the given choices, the company issues common stock which increases the cash balance and the journal entry is as follows
Cash Dr XXXXX
To Common stock XXXXX
(Being the common stock is issued for cash)
And, the rest transactions shows the outflow of cash
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Answer:
$31,320.00
Explanation:
The formula for accounting rate of return is the annual net cash flow divided by the initial investment.
If the initial investment was $522,000 and the accounting rate of return is computed to be 6% per year, hence the annual increase in cash flow accruing from the investment can be calculated by changing the subject of the formula.
ARR=annual increase in cash flow/initial investment
ARR is 6%
initial investment is $522,000
annual increase in cash flow?
6%=annual increase in cash flow/$522,000
annual increase in cash flow=6%*$522,000= $31,320.00
Answer:
June 10
Dr Inventory $7,100
Cr Accounts payable $7,100
June 11
Dr Inventory $350
Cr Cash $350
June 12
Dr Accounts payable $600
Cr Inventory $600
June 19
Dr Account payable $6,500
Cr Cash $6,240
Cr Inventory $260
Explanation:
Preparation of a separate journal entries for each transaction on the books of Blossom Company.
Books of Blossom Company
June 10
Dr Inventory $7,100
Cr Accounts payable $7,100
June 11
Dr Inventory $350
Cr Cash $350
June 12
Dr Accounts payable $600
Cr Inventory $600
June 19
Dr Account payable $6,500
($7,100-$600)
Cr Cash $6,240
($6,500-$260)
Cr Inventory $260
(4%*$6,500)
