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son4ous [18]
3 years ago
9

On October 1st, a company received $30,000 in cash and a building worth $200,000, and in return, issued common stock to an inves

tor. Create the complete journal entry and post to the appropriate T-accounts.
Business
1 answer:
Lilit [14]3 years ago
7 0

Answer:

1. Journal:

October 1:

Debit Cash $30,000

Debit Building $200,000

Credit Common Stock $230,000

To record the receipt of cash and building for common stock.

2. T-accounts:

Cash Account

Date  Description            Debit       Credit        Balance

Oct. 1 Common Stock  $30,000                      $30,000

Building Account

Oct. 1 Common Stock  $200,000                  $200,000

Common Stock

Oct. 1 Cash                                    $30,000     $30,000

Oct. 1 Building                            $200,000   $200,000

Explanation:

Journal entries show the accounts to be debited and credited respectively.  They are the initial records of a business transaction.  They can be used to post any transaction, make adjustments to the accounts, and close the accounts at the end of the accounting period.

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Zach is a quality control manager at Fresh Mints International. Any time a problem arises and a decision needs to be made, prese
Shtirlitz [24]

Answer:

Facilitative   decision making decison style is the correct answer to the given question.

Explanation:

The facilitative style of action-making represents a collaborative effort between the members and the stakeholders, each giving feedback for mutual  the decision taking.

  • It is critical that stakeholders provide access to data necessary for decision taking with the help of Facilitative   decision style the zach take the decision and solved the given problem .
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6 0
3 years ago
The assembly department had beginning work in process of 18,000 units, ending work in process of 22,000 units, and units transfe
salantis [7]
Hi there

beginning work in process+units started or transferred in=ending work in process+units transferred out

So we need to find units started or transferred in=58,000+22,000−18,000
=62,000...answer

Hope it helps
3 0
3 years ago
Lindon Company is the exclusive distributor for an automotive product that sells for $44.00 per unit and has a CM ratio of 30%.
vlada-n [284]

Answer:

1. $30,80

2. 21,500 units and $946,000

3. 33,000 units and $1,452,000

4. 16,125 units and $709,500 , $1,089,000

Explanation:

<u>The variable expenses per unit</u>

First determine the variable expenses ratio

Variable expenses ratio = 1 - CM ratio

                                        = 1-0.30

                                        = 0.70

Variable expenses per unit = $44.00 ×0.70

                                             = $30,80

<u>Break-even point in unit sales and in dollar sales</u>

break-even point in unit sales  = Fixed Costs / Contribution per Unit

                                                   = $283,800/ ($44.00×30%)

                                                   = $283,800/$13.20

                                                   = 21,500

break-even point in in dollar sales = Fixed Costs / Contribution Margin Ratio

                                                         = $283,800/0.30

                                                         = $946,000

<u>Amount of unit sales and dollar sales is required to attain a target profit of $151,800 per year</u>

Target Sales (Unit Sales) = Fixed Costs + Target Profit / Contribution per Unit

                                          = ($283,800 + $151,800) / $13.20

                                          = 33,000

Target Sales (Dollar Sales) = Fixed Costs + Target Profit / Contribution Margin Ratio

                                           = ($283,800 + $151,800) / 0.30

                                           = $1,452,000

<u>the company’s new break-even point in unit sales and in dollar sales</u>

break-even point in unit sales  = Fixed Costs / Contribution per Unit

                                                   = $283,800/ ($44.00-$30,80+$4.40)

                                                   = $283,800/$17,60

                                                   = 16,125

break-even point in in dollar sales = Fixed Costs / Contribution Margin Ratio

                                                         = $283,800/($17,60/$44.00)

                                                         = $283,800/0.40

                                                         = $709,500

<u>dollar sales is required to attain a target profit of $151,800</u>

Target Sales (Dollar Sales) = Fixed Costs + Target Profit / Contribution Margin Ratio

                                           = ($283,800 + $151,800) / 0.40

                                           = $1,089,000

7 0
3 years ago
Read 2 more answers
The balance of an account is determined by
Klio2033 [76]
The balance of an account is determined by the difference between the total amount of debt and the total amount of credit.
5 0
2 years ago
Jean, a geologic specialist, agreed to accept an overseas assignment for her company after the company agreed to store her yacht
Crazy boy [7]

Answer:

The answer is Assistance programs.

Explanation:

Because Assistance programs  are benefits that are offered to employees to helps manage several challenges they might have to accomplish the job. In this case, the company offered Jean several benefits such as bringing the pet, storing the yacht,  it is a way to motivate Jean to accept the offer and do the best she can.

5 0
2 years ago
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