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OleMash [197]
4 years ago
6

Prepare a journal entry for the purchase of office supplies on march 9 for $1,775, paying $275 cash and the remainder on account

Business
1 answer:
Stells [14]4 years ago
6 0
<span>On March 9 office supplies were purchased for a total of $1,775 out of which $275 was paid in cash at the time of purchase with the remainder of $1,500 being added to the account.</span>
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Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $49,000 cash to start the business and rec
Keith_Richards [23]
English please

Reason: thats too freaking much .
8 0
3 years ago
Somerset Computer Company has been purchasing carrying cases for its portable computers at a purchase price of $62 per unit. The
Masteriza [31]

Answer:

Somerset Computer Company

Differential Analysis dated April 30:

                                                 Make                  Buy      

                                            Alternative 1    Alternative 2    Difference

Variable cost per unit           $23.00                $62.00           $39.00

Explanation:

a) Data and Calculations:

Purchase price per portable computer carrying case = $62

Unit cost of production:

Direct materials                                     $8.00

Direct labor                                            12.00

Factory overhead (40% of direct labor) 4.80

Total cost per unit                              $24.80

Unit cost of production, with overhead broken into fixed and variable:

Direct materials                                     $8.00

Direct labor                                            12.00

Factory overhead

Fixed overhead                                       1.80

Variable overhead                                 3.00

Total cost per unit                             $24.80

b) With a net gain of $39 per unit, the company should make the unit (Alternative 1) instead of buying it (Alternative 2).

4 0
3 years ago
In 2015 through 2018, Shana borrowed a total of $30,000 for higher education expenses on qualified education loans. In 2019, whi
MissTica

Answer:

$0

Explanation:

A student who lives in his parents’ home and being claimed as a dependent by his parent cannot claim any return on tax return for an amount borrowed for higher education expenses or for an interest paid on such loan. This is because, the parents have already claimed as a dependent to reduce their taxable income.

Therefore, Shana will claim $0 because he still lives at home and being claimed by his parents as a dependent to reduce their taxable income.

5 0
3 years ago
Comanic Corp. has common stock of $5,400,000, retained earnings of $2,000,000, unrealized gains on trading securities of $100,00
Anna11 [10]

Answer:

b. $7,200,000

Explanation:

Common stock of                                                            $5,400,000

Retained earnings of                                                       $2,000,000

Unrealized losses on available-for-sale securities       (<u>$200,000) </u>

Stockholders' Equity                                                        $7,200,000

Unrealized gains on trading securities of $100,000 is not being added to the stockholders equity because it has been charges in profit and Loss statement and it is reflected in the net Income which is already been included in retained earning. Only Unrealized losses on available-for-sale securities of 200,000 is reported in the Stockholder's equity under separate head in the balance sheet.

7 0
3 years ago
October 2010, the amount of money held by individuals and companies was $893.4 billion; checkable deposits owned by the same ind
Sloan [31]

Answer:

M1 $1.24 trillion

M2 $4.41 trillion

M1 and M2 money have several definitions, ranging from narrow to broad. M1 = coins and currency in circulation + checkable (demand) deposit + traveler's checks. M2 = M1 + savings deposits + money market funds + certificates of deposit + other time deposits.

4 0
3 years ago
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