Answer:
A. Received cash by issuing common stock
Debit: Cash
Credit: common stock
B. Received cash for services to be performed in the future.
Debit: Cash
Credit: unearned revenue.
C. Paid salaries payable
Debit: salaries payable
Credit: cash
D. Provided services on account.
Debit: accounts receivable
Credit: service revenue
E. Paid cash for operating expenses
Debit: operating expenses
Credit: cash
Explanation:
A. Received cash by issuing common stock
Debit: Cash
Credit: common stock
B. Received cash for services to be performed in the future.
Debit: Cash
Credit: unearned revenue.
C. Paid salaries payable
Debit: salaries payable
Credit: cash
D. Provided services on account.
Debit: accounts receivable
Credit: service revenue
E. Paid cash for operating expenses
Debit: operating expenses
Credit: cash
Answer:
QBI deduction = $16000
Explanation:
QBI stands for qualified business income. Qualified business income includes those income that qualify as income, all money received especially in ordinary course of business and on regular basis qualifies as income. The qualified business income of a business is subject to various limitations. One of the most important limitations is that QBI deduction shouldn't exceed 20% of what taxpayers taxable income is. Sanjay's taxable income is $80000, considering the above mentioned limitation Sanjay's QBI deduction is as follows:
QBI deduction = $80000 × 20%
QBI deduction = $16000
Answer:
The correct answer is 3.
Explanation:
Giving the following information:
Your coin collection contains fifty-four 1941 silver dollars. These coins have appreciated at a 10 percent annual rate.
To calculate the future value, we need to use the following formula:
FV= PV*(1+i)^n
i= 0.10
PV= 54
n= 2060 - 1942= 119
FV= 54*1.10^119= 4,551,172.47
Stock prices are determined by market transactions.
<h3>What are s
tock prices?</h3>
A company's share price is decided by market forces such as supply and demand after its shares begin trading on a stock exchange. The price will rise if there is a significant demand for its shares because of advantageous circumstances.
The most accurate way to determine a security's present value is to look at its current price, which is the most recent selling price of any stock, currency, good, or precious metal that is traded on an exchange.
A company's market capitalisation and, by extension, its market value are impacted by changes in share prices. A company's market value increases with rising share prices and vice versa.
To learn more about stock prices visit:
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Answer:
The cash that was received from collections of accounts receivable is $872,600
Explanation:
Cash collections
= Begining A/R balance + Credit Sales - Ending A/R balance - write-offs
= $240,000 + $945,000 - $300,000 - $12,400
= $872,600
Therefore, The cash that was received from collections of accounts receivable is $872,600
