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Tju [1.3M]
3 years ago
12

Transactions for Skysong Company for the month of May are presented below. Prepare journal entries for each of these transaction

s. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) May 1 B.D.Skysong invests $3,800 cash in exchange for common stock in a small welding corporation. 3 Buys equipment on account for $1,086. 13 Pays $410 to landlord for May rent. 21 Bills Noble Corp. $500 for welding work done. (Use Service Revenue account.)
Business
1 answer:
ExtremeBDS [4]3 years ago
3 0

Answer:

Explanation:

The journal entries are shown below:

May 1 -  Cash A/c $3,800

                To Common stock A/c  $3,800

(Being stock is exchanged for cash)

May 3 -  Equipment A/c Dr $1,086

                  To Account payable A/c $1,086

(Being equipment purchased in credit)

May 13 - Rent expense A/c Dr  $410

                 To Cash A/c                      $410

May 21 - Accounts receivable A/c  Dr $500

                 To Service Revenue A/c                     $500

(Being the completed work recorded)

 

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A man in San Rafael County was discovered committing workers' compensation fraud. He had been observed working while at the same
LuckyWell [14K]

Answer:

1. Yes

2. - privacy concerns

- may lack full details.

Explanation:

1. In this scenario the automobile auction house would need to show video evidence of his (San Rafael's) fraud activities to the investigator.

2. Privacy concerns such as how the information gotten from video surveillance is used may pose a challenge.

There's also the reality of a lack of full details. For instance, San Rafael may be deaf a disability that cannot be reflected well on a surveillance video that shows him working.

6 0
3 years ago
Everything else held constant, during a business cycle expansion, the supply of bonds shifts to the ________ as businesses perce
Blababa [14]

Answer:

The correct answer is: right; right.

Explanation:

During an economic expansion as people increase investment, the income and wealth held by the people increases. This will cause an increase in demand for bonds as people will look for ways to invest their increased income.  

This will cause the demand for the bonds curve to shift to the right. This rightward shift in the demand curve will increase bond prices. The supply of bonds increases during as the businesses want to take advantage of the increase in income and wealth and borrow from people and invest it in their business.

7 0
3 years ago
Quantitative Problem 3: Assume today is December 31, 2019. Imagine Works Inc. just paid a dividend of $1.35 per share at the end
Verdich [7]

Answer:

The price of the company's stock today (December 31, 2019) is $49.27.

Explanation:

Note: See the attached file for the calculation of present values (PV) for year 1 to 3 dividends.

From the attached excel file, we have:

Previous year dividend in year 1 = Dividend just paid = $1.35

Total of dividends from year 1 to year 3 = $4.71193752458119

Year 3 dividend = $2.2180932

Therefore, we have:

Year 4 dividend = Year 3 dividend * (100% + Constant dividend growth rate) = $2.2180932 * (100% + 5.5%) = $2.340088326

Share price at year 3 = Year 4 dividend / (Cost of equity - Constant dividend growth rate) = $2.340088326 / (9.5% - 5.5%) = $58.50220815

PV of share price at year 3 = Share price at year 3 / (100% + Cost of equity)^Number of years = $58.50220815 / (100% + 9.5%)^3 = $44.55843215078

Therefore, we have:

The price of the company's stock today = Total of dividends from year 1 to year 3 + PV of share price at year 3 = $4.71193752458119 + $44.55843215078 = $49.27

Download xlsx
5 0
3 years ago
Your company has just been named as defendant in a lawsuit related to a leak of chemicals, from one of your company's plants ont
Arturiano [62]

Answer:

Explanation:

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a. Data accessible before issuance of the budget reports demonstrates that it is likely that a benefit had been hindered or an obligation had been brought about at the date of the fiscal summaries. It is verifiable right now it must be plausible that at least one future occasions will happen affirming the reality of the misfortune.

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In the given case the primary condition is met i.e it is sure or plausible that an obligation is acquired yet the second condition that the measure of misfortune can be sensibly evaluated isn't met as a scope of the misfortune is given.

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Fofino [41]

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Common resources are described as non-excludable but competitive goods or resources. As a result, practically anyone can utilize them. However, if one person uses up a shared resource, it becomes less available to other people. When those two traits combine, shared resources are frequently used excessively (see also the tragedy of the commons). Freshwater, fish, timber, grassland, and other resources are a few examples of common resources.

To learn more about Common resources here

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