All categories

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.

Read more about checking account

brainly.com/question/24751568

#SPJ1

7 0

1 year ago

Real per capita GDP in Singapore in 1960 was about $450, but it doubled to about $900.00 by 1977. a. What was the average annual

aleksandrvk [35]

Answer:

4.16%

Explanation:

to calculate Singapore's economic growth rate we can use the future value formula (we could also use the rule of 72 but it is not very exact):

future value = present value x (1 + r) ⁿ

future value = 900
present value = 450
n = 17
r = ?

900 = 450 (1 + r)¹⁷

(1 + r)¹⁷ = 900 / 450 = 2

1 + r = ¹⁷√2 = 1.0416

r = 1.0416 - 1 = 0.0416 or 4.16%

6 0

3 years ago

Romona Company expects its November sales to be 20% higher than its October sales of $ 240 comma 000. All sales are on credit a

kotykmax [81]

Answer:

The cash balance on November 30 amounts to $155,700

Explanation:

Cash balance on November 30 = Beginning balance + Collection of cash from October sales + Collection of cash from November sales - Payments for October Purchases - Payments for November Purchases

where

Beginning balance is $13,700

Collection of cash from October sales = October Sales × % amount collected

= $240,000 × 70%

= $168,000

Collection of cash from November sales = November Sales × % amount collected

= $240,000 × 1.20 × 25%

= $72,000

Payments for October Purchases = October Purchases × % amount paid

= $70,000 × 65%

= $45,500

Payments for November Purchases = November Purchases × % amount paid

= $150,000 × 35%

= $52,500

Putting the values in the above formula

Cash balance on November 30 = $13,700 + $168,000 + $72,000 - $45,500 - $52,500

= $155,700

4 0

3 years ago

What is the name of the device that senses the current flowing, tripping the circuit, and cutting off

OLga [1]

I believe the answer is a circut breaker

6 0

3 years ago

Rajiv loves watching Downton Abbey on his local public TV station, but he never sends any money to support the station during it

daser333 [38]

Answer:

free rider

true

Explanation:

The free rider problem is a form of market failure. It occurs when people benefit from a good or service of communal nature and do not pay to enjoy these services.

Downtown abbey can be classified as a public good, if it is made a private good, the problem would be solved

A public good is a good that is non excludable and non rivalrous.

A private good is a good that is excludable and rivalrous. They are usually exchanged in the market by private sector businesses. It

6 0

3 years ago