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
Mice21 [21]
3 years ago
9

A new company with a balance of zero in their cash account had the following cash transaction in its first month: obtained a ban

k loan for $344,000, issued stock to shareholders for $112,000, purchased inventory for $54,000, sold merchandise to a customer for $25,000, and paid a dividend of $26,000 to shareholders. What is the balance in the cash account at the end of the month. Note- It may be useful to use a T-account for analysis.
Business
1 answer:
stealth61 [152]3 years ago
7 0

Answer:

The balance in the cash account at the end of the month will be $401.000

Explanation:

$0

+$ 344,000 bank loan

+$112,000 stock issued to stakeholders

-$54,000 purchase of inventory

+$25,000 sell

-$26,000 payment of dividends

-------------

$401,000 balance at the end of the month

see attached file for T-account

Download xlsx
You might be interested in
The average cost of tuition and room and board at a small private liberal arts college is reported to be $8,500 per term, but a
mojhsa [17]

Answer & Explanation:

The null hypothesis (H0) is what the study is trying to reject, is what the study wants to disprove. In this case, the financial administrator believes that the average cost of tuition and room is greater than $8,500. Then, he wants to statistically disprove that the average cost per term is equal to $8,500.

H0: average cost = $8,500

H0:μ=$8,500

The alternative hypothesis (H1) is the opposite, is what the financial administrator wants to prove: the average cost per term is greater than $8,500.

H1: average cost > $8,500

H1:μ>$8,500

3 0
3 years ago
In a decision support system graphical model typically _____
AURORKA [14]
The answer would be A. A DDS supportive framework called GMCA (Graph Model for Conflict Analysis) actualizing the multi-player chart display for dissecting clashes is produced. GMCA contains calculations for the fast calculation of an extensive variety of arrangement ideas, in this way empowering leaders to assess the assorted variety of human conduct.
6 0
3 years ago
Asbestos is commonly found in buildings and structures built before what year ?
Verdich [7]

I just recently learned this myself due to buying an old farm house that was built in the 1970's. Asbestos is commonly found in buildings and structures built before 1981 and is a very harmful thing if inhaled into the body.

6 0
4 years ago
Read 2 more answers
Northwest Fur Co. started 2021 with $103,000 of merchandise inventory on hand. During 2021, $560,000 in merchandise was purchase
Naya [18.7K]

Answer:

The cost of goods available for sale is $650,100

Explanation:

Credit terms of 3/15, n/45 means that 3% discount for the payment within 15 days and the full amount to be paid within 45 days.

The discounts Northwest Fur Co. took = $560,000 x 3% = $16,800

Northwest uses a perpetual inventory system and the gross method to record purchases.

Net Purchases = Purchases - Purchase Returns - Purchases Discounts + Freight-In = $560,000 - $4,900 - $16,800 + $8,800 = $547,100

The cost of goods available for sale = Beginning merchandise inventory + Net Purchases = $103,000 + $547,100 = $650,100

4 0
3 years ago
Tampa Tribune's dominant strategy is ____________ (low price, high price, it has no dominant strategy).
Masja [62]

Answer:

Low price

Explanation:

Tampa tribune dominant strategy is low price. If the company keeps its prices high it can get maximum revenue of $88 whereas if the company keeps its prices low it can make maximum revenue of $120. The difference of $32 is gained when the prices are kept and this is dominant strategy for Tampa Tribune.

4 0
3 years ago
Other questions:
  • Spa Company uses the direct method in determining net cash provided by operating activities. The income statement shows income t
    14·1 answer
  • Pablo has a $180,200 basis in his partnership interest. On May 9 of the current tax year, the partnership distributes to him, in
    9·1 answer
  • An article in the Wall Street Journal refers to​ "debt-strapped emerging markets already struggling with​ current-account defici
    8·1 answer
  • Which of these statements about processes is not​ true?
    6·1 answer
  • "in a period of rising prices, the inventory method which tends to give the highest reported costs of goods sold is"
    15·1 answer
  • Which transaction would cause one asset to increase and another asset to decrease?
    5·1 answer
  • Fact Pattern 18-B1
    13·1 answer
  • For the current year, Delta Corporation has beginning and ending inventories of $80,000 and $100,000, respectively. Cost of good
    5·1 answer
  • NewTel is a telephone company with a policy of filling positions internally through promotions, rather than hiring from outside.
    5·1 answer
  • An investment will pay you $95,000 in 10 years. If the appropriate discount rate is 9 percent compounded daily, what is the pres
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!