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Anastasy [175]
2 years ago
10

Debit postings to the individual accounts in an accounts receivable subsidiary ledger generally come from the

Business
1 answer:
umka21 [38]2 years ago
4 0
Bank transaction fee
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H. Tillman performed legal services for J. Laney. Due to a cash shortage, an agreement was reached whereby J. Laney. would pay H
babunello [35]

Answer:

The journal entry for J. Laney. to record this transaction is:

Legal Expenses $13,920 (debit)

Common Stock $2,900 (credit)

Share Premium $11,020 (credit)

Explanation:

The Common Stocks are carried at par value of $1. This means that any price paid in excess of the par value is accounted for in the Share Premium Account.

The Common stocks issued are measured at the price required to settle the legal expenses and are paid in excess of par value of $1.

Share Premium = ($4.80 - $1.00) × 2900 shares

                          = $3.80 × 2,900

                          = $11,020

8 0
3 years ago
What is the most important source of money for new business start-ups? banks the small business administration personal resource
Schach [20]
The best and most correct answer among the choices provided by the question is the first choice, bank.

Bank would be recommended if you start a new business.
Hope my answer would be a great help for you.    If you have more questions feel free to ask here at Brainly.

6 0
3 years ago
Joe is a new broker. how often will he be required to reconcile his escrow account(s)?
storchak [24]

Joe is a new broker. He will be required to reconcile his escrow account monthly.

<h3>Who is a broker?</h3>
  • In order to earn a commission after the trade is completed, brokers organize transactions between buyers and sellers.
  • Brokers that take on dual roles as buyers or sellers are considered primary parties to the transaction.
  • Neither function should be mistaken with that of an agent, who represents the principal party in a transaction.
  • An impartial party whose services are often used in several businesses is a broker.
  • The main duty of a broker is to connect buyers and sellers; as a result, the broker acts as a neutral intermediary between a buyer and a seller.
  • A real estate or stockbroker who helps in the sale of a property would be an example.

To learn more about broker with the given link

brainly.com/question/14094023

#SPJ4

6 0
1 year ago
Joshua borrowed $1,400 for one year and paid $70 in interest. The bank charged him a service charge of $12. If Joshua repaid the
Katen [24]

Answer: 10.81%

Explanation:

The annual percentage rate is the percentage cost of credit on yearly basis.

APR will be calculated

= [(2 x n x I) /( P x ( N + 1)]

where,

n = number of months = 12

I = Finance cost = Interest + service charge = $70 + $12 = $82

P = Borrowed amount = $1,400

N= Loan period = 12

We'll then slot the values into the annual percentage rate (APR) formula and this will be:

= ( 2 x n x I) /( P x ( N + 1))

= ( 2 x 12 x 82) /( 1400 x ( 12 + 1))

= 0.1081

=10.81 %

5 0
3 years ago
Your annual assessment of your assets, liability, and equity is known as a(n)
Komok [63]
Im not even in business and I know it is a balance sheet
4 0
3 years ago
Read 2 more answers
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