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3 years ago

Following are the transactions of Sustain Company.

Business

1 answer:

Dennis_Churaev [7]3 years ago

5 0

Answer:

Sustain Company

General Journal

June 1

Cash $18,000 (debit)

Common Stock $18,000 (credit)

Cash Received in Exchange of Common Stock

June 2

Furniture $11,000 (debit)

Accounts Receivable $11,000 (credit)

Furniture purchased on credit

June 3

Prepaid Insurance $2,000 (debit)

Cash $2,000 (credit)

Insurance paid in advance

June 4

Accounts Receivable $10,000 (debit)

Service Revenue $10,000 (credit)

Service rendered on credit

June 12

Accounts Payable $11,000 (debit)

Cash $11,000 (credit)

Payment made to suppliers

June 20

Cash $10,000 (debit)

Accounts Receivable $10,000 (credit)

Cash payment received from Accounts

June 21

Cash $17,000 (debit)

Common Stock $17,000 (credit)

Cash Received in Exchange for Common Stock

June 30

Cash $12,000 (debit)

Deferred Revenue $12,000 (credit)

Cash Received for the Services to be Rendered

Explanation:

See the journal Entries and Narrations that i have prepared above.

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You are examining an investment opportunity. It would require you to pay money today and then receive payments semi-annually fro

Lady_Fox [76]

Answer:

The semi annual rate is 4.88%

Explanation:

semi annual rate = [((1+r)^(1/n)) -1]

= [((1+10%)^(1/2)) -1]

= 4.88%

Therefore, the semi-annual rate (i.e. periodic return per six months) do you require (i.e. need to earn such that this implies 10% earned per year when you get to compound semi-annually) is 4.88%.

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3 years ago

¿Cuáles son y cómo se elabora un Inventario de Mercancías NIC 2? Ayuda plisssss

Leokris [45]

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La NIC 2 define los inventarios como activos que son: mantenidos para la venta en el curso normal del negocio, en el proceso de producción para dicha venta, o. en forma de materiales o insumos para ser consumidos en el proceso de producción o prestación de servicios.

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3 years ago

After nearly 20 years with his company, Mike's job was outsourced. He wants his new job to offer not only a good wage but also j

olga55 [171]

Answer:

intrinsic rewards

Explanation:

In this scenario, it seems that Mike is focused on the intrinsic rewards of his job. These are rewards that come from within the employee themselves. For example, an employee who is motivated is working for his/her own satisfaction and finds meaning in their challenging work, which in term is the intrinsic reward. In this case, the job satisfaction and sense of accomplishment are the intrinsic rewards that Mike wants from his job.

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3 years ago

Julie Convenience Store sold merchandise for cash to a customer, and recorded a debit to Cash for $371, which included a 6% Sale

nlexa [21]

Answer:

C) credit Sales Tax Payable for $21

Explanation:

Based on the information given In the same transaction, they must also CREDIT SALES TAX PAYABLE FOR $21 Calculated as:

First step is to calculate the sales tax element

Sales tax element = $371*6/106

Sales tax element= $21

Now let calculate what the Price exclusive of sales tax would be

Price exclusive of sales tax=$371-$21

Price exclusive of sales tax= $350

The correct journal entry should be:

Dr Cash $371

Cr Sales revenue $350

($371-$21)

Cr Sales tax payable $21

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3 years ago

What is the process of applying safeguards to avoid a negative impact? risk mitigation risk transfer risk analysis risk avoidanc

natima [27]

Answer: risk avoidance

Explanation:

Risk avoidance is simply defined as the process by which safeguards are applied in order to avoid a negative impact. It should be noted that a risk avoidance strategy helps to eliminate all risk and organizations apply safeguards to both potential threats and vulnerabilities.

Risk avoidance helps to remove hazards, and the activities that'll have a negative impact on the business.

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3 years ago