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lawyer [7]
3 years ago
7

A consumer uses goods and services to _____.

Business
2 answers:
allochka39001 [22]3 years ago
8 0
The answer is...

A consumer uses goods and services to satisfy economic wants.
Juliette [100K]3 years ago
6 0
Economically speaking the process is that consumer uses goods and services to survive. They will also use them to sustain things from their wants and needs, doing so they are helping out for a normal cycle which is good. Their salary should be spent on these goods and services.
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Thoro Clean, a firm providing house-cleaning services, began business on April 1. The following accounts in its general ledger a
natta225 [31]

Answer:

Thoro Clean

a. Using the accounting equation, record each of the transactions in columnar format:

April 1    

Cash $11,500 + Accounts Receivable + Supplies + Prepaid Van Lease  + Equipment = Accounts Payable + Notes Payable + Common Stock $11,500 + Retained Earnings

April 2

Cash $11,500 - $2,850+ Accounts Receivable + Supplies + Prepaid Van Lease $2,850 + Equipment = Accounts Payable + Notes Payable + Common Stock $11,500 + Retained Earnings

April 3

Cash $11,500 - $2,850 + $10,000 + Accounts Receivable + Supplies + Prepaid Van Lease $2,850 + Equipment = Accounts Payable + Notes Payable $10,000 + Common Stock $11,500 + Retained Earnings

April 3

Cash $11,500 - $2,850 + $10,000 - $3,500 + Accounts Receivable + Supplies + Prepaid Van Lease $2,850 + Equipment $5,500 = Accounts Payable $2,000 + Notes Payable $10,000 + Common Stock $11,500 + Retained Earnings

April 4

Cash $11,500 - $2,850 + $10,000 - $3,500 - $4,300 + Accounts Receivable + Supplies $4,300 + Prepaid Van Lease $2,850 + Equipment $5,500 = Accounts Payable $2,000 + Notes Payable $10,000 + Common Stock $11,500 + Retained Earnings

April 7

Cash $11,500 - $2,850 + $10,000 - $3,500 - $4,300 - $350 + Accounts Receivable + Supplies $4,300 + Prepaid Van Lease $2,850 + Equipment $5,500 = Accounts Payable $2,000 + Notes Payable $10,000 + Common Stock $11,500 + Retained Earnings - Advertising Expense $350

April 21

Cash $11,500 - $2,850 + $10,000 - $3,500 - $4,300 - $350 + Accounts Receivable $3,500 + Supplies $4,300 + Prepaid Van Lease $2,850 + Equipment $5,500 = Accounts Payable $2,000 + Notes Payable $10,000 + Common Stock $11,500 + Retained Earnings - Advertising Expense $350 + Cleaning Fees Earned $3,500

April 23

Cash $11,500 - $2,850 + $10,000 - $3,500 - $4,300 - $350 - $1,500 + Accounts Receivable $3,500 + Supplies $4,300 + Prepaid Van Lease $2,850 + Equipment $5,500 = Accounts Payable $2,000 - $1,500 + Notes Payable $10,000 + Common Stock $11,500 + Retained Earnings - Advertising Expense $350 + Cleaning Fees Earned $3,500

April 28

Cash $11,500 - $2,850 + $10,000 - $3,500 - $4,300 - $350 - $1,500 + $2,300 + Accounts Receivable $3,500 - $2,300 + Supplies $4,300 + Prepaid Van Lease $2,850 + Equipment $5,500 = Accounts Payable $2,000 - $1,500 + Notes Payable $10,000 + Common Stock $11,500 + Retained Earnings - Advertising Expense $350 + Cleaning Fees Earned $3,500

April 29

Cash $11,500 - $2,850 + $10,000 - $3,500 - $4,300 - $350 - $1,500 + $2,300 + $1,000 + Accounts Receivable $3,500 - $2,300 + Supplies $4,300 + Prepaid Van Lease $2,850 + Equipment $5,500 = Accounts Payable $2,000 - $1,500 + Notes Payable $10,000 + Common Stock $11,500 + Retained Earnings - Advertising Expense $350 + Cleaning Fees Earned $3,500 + Dividends $1,000

April 30

Cash $11,500 - $2,850 + $10,000 - $3,500 - $4,300 - $350 - $1,500 + $2,300 - $1,750  - $255 + Accounts Receivable $3,500 - $2,300 + Supplies $4,300 + Prepaid Van Lease $2,850 + Equipment $5,500 = Accounts Payable $2,000 - $1,500 + Notes Payable $10,000 + Common Stock $11,500 + Retained Earnings - Advertising Expense $350 + Cleaning Fees Earned $3,500 + Dividends $1,000 - Wages $1,750 - Gasoline $255

b. Use Journal entries to record the transactions:

DATE    DESCRIPTION                 DEBIT     CREDIT

April 1    Cash Account                $11,500

             Common Stock                              $11,500

To record Randy Storm's investment of cash

April 2  Prepaid Van Lease        $2,850

            Cash Account                                $2,850

To record payment for six months' lease on a van.

April 3  Cash Account             $10,000

            Notes Payable                              $10,000

To record the borrowing of $10,000 from a bank.

April 3   Cleaning Equipment  $5,500

             Cash Account                              $3,500

             Accounts Payable                       $2,000

To record purchase of cleaning equipment.

April 4  Cleaning Supplies      $4,300

            Cash Account                              $4,300

To record the purchase of cleaning supplies.

April 7  Advertising Expense    $350

            Cash Account                                $350

To record the payment for advertisements.

April 21 Accounts Receivable      $3,500

            Cleaning Fee Earned                     $3,500

To record the cleaning fees earned.

April 23 Accounts Payable        $1,500

             Cash Account                               $1,500

To record the payment on account.

April 28 Cash Account           $2,300

              Accounts Receivable                 $2,300

To record the receipt from customers on account.

April 29 Cash Account         $1,000

             Dividends                                   $1,000

To record the receipt of dividends.

April 30 Wages Expense        $1,750

             Cash Account                            $1,750

To record the payment of wages for April.

April 30 Gasoline Expense    $255

              Cash Account                         $255

To record the payment for gasoline used during April.

Explanation:

The accounting equation is given as Assets = Liabilities + Equity.  This equation is always in balance with each transaction affecting at least one or two accounts in either side of the equation.  This equation explains that the assets owned by a company are made up of either owings to creditors or owners of the business.

5 0
3 years ago
Companywide objectives set by the strategic-planning group are more likely to be achieved than those set just by the ceo. (point
12345 [234]
It seems to me that this question is not hard at all lol the answer is true 

4 0
3 years ago
If a country changes its corporate tax laws so that domestic businesses build and manage more business in other countries, then
LekaFEV [45]

Answer: falls and the net capital outflow of other countries rise

Explanation:

Net capital outflow refers to the net flow of funds that's invested abroad by a particular country at a particular period. It should be noted that a positive net capital flow simply means that such country invests more outside more than than what the other parts of the world invests in it.

Given the question above, since the country changes its corporate tax laws so that domestic businesses build and manage more business in other countries, it means that the net capital outflow of that country falls and the net capital outflow of other countries rise.

3 0
2 years ago
A broker desires to keep an escrow account in an interest bearing account. Would this be legal?
wolverine [178]

Answer:

the correct answer is YES

Explanation:

All parties agree and get in writing who and where the money is going

GOOD LUCK

7 0
3 years ago
What is one reason why a business may incorporate a dress code?
LenaWriter [7]

Answer:

d

Explanation:

D.because it wants to promote unity among employees

3 0
2 years ago
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