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3 years ago

Which type of business is owned by a small pool of investors?

1 answer:

5 0

A limited partnership is owned by a small pool of investors; if there is only one owner, then it is a sole proprietorship.

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This information relates to Hanshew Real Estate Agency.

Molodets [167]

Answer and Explanation:

a. The Journal entry is shown below:-

1. Cash Dr, $35,000

To common stock $35,000

(Being received cash in exchange of common stock is recorded)

2. No Journal entry is required

3. Equipment Dr, $3,500

To Accounts payable $3,500

(Being equipment is recorded)

4. Accounts receivable Dr, $10,000

To service revenue $10,000

(Being service revenue is recorded)

5. Cash Dr, $140

To Service revenue $140

(Being Cash is recorded)

6. Accounts payable Dr, $700

To Cash $700

(Being accounts payable is recorded)

7. Salaries and wages expenses Dr, $3,000

To Cash $3,000

(Being Salaries and wages expenses is recorded)

b. The transaction of T accounts is shown below:-

Cash

Oct 1 $35,000 Oct 27 $700

Oct 10 $140 Oct 30 $3,000

Oct 31 $31,440

Accounts receivable

Oct 6 $10,000

Oct 31 $10,000

Equipment

Oct 3 $3,500

Oct 31 $3,500

Accounts payable

Oct 27 $700 Oct 3 $3,500

Oct 31 $2,800

Common stock

Oct 1 $35,000

Oct 31 $35,000

Service revenue

Oct 6 $10,000

Oct 10 $140

Oct 31 $10,140

Salaries and wages revenue

Oct 30 $3,000

Oct 31 $3,000

3 0

2 years ago

a(n) _____ operation does not start processing or assembling products until it receives a customer order.

Scorpion4ik [409]

A Make-to-Order Operations operation does not start processing or assembling products until it receives a customer order.
This type of strategy is used to minimize product abundance that exist in the market. Usually, being done by the company whose products sold under a large price (such as car or boats)

4 0

3 years ago

When early settlers needed to buy farming equipment and supplies, they often would use the milk, eggs, and crops their farms pro

Tasya [4]

Answer:

The correct answer is A)

Explanation:

There is no good or service that is unlimited.

The concept of the Barter system was simply a method of exchanging value for value.

It was phased away due to several reasons:
It was not a good store of value as many of the goods were perishable
it didn't make for good administration: It was too cumbersome and problematic. Imagine having to store three trailers of eggs awaiting a barter exchange

Cheers!

3 0

3 years ago

At the annual holiday party, ABC Airlines gives awards to employees to recognize examples of "going above and beyond" to serve c

IgorLugansk [536]

Answer: rip kobe

Explanrioation:

6 0

3 years ago

Haberdash inc. last year reported sales of $12 million and an inventory turnover ratio of 3. the company is now adopting a just-

Sindrei [870]

Sales = $12,000,000

Inventory Turnover ratio (old) = 3
Inventory Turnover ratio (new) = 7.5
Freed up Cash = ?
So, let’s find out the freed up cash
 We know level of inventory are calculated as follows;
Inventory = Sales Inventory turnover ratio
Calculating $ value of old inventory
 Inventory Old=$12,000.0003
 =$7.5,000,000
 Calculating $ value of New inventory
 Inventory New=$12,000,0075
 =$3,000,000
 The freed up cash would be=Old Inventory – New Inventory
 =$7.5,000,000 - $3,000,000
=$4.5,000,000

6 0

2 years ago

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