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3 years ago

A purchase of supplies for cash is recorded in the

Business

1 answer:

Zielflug [23.3K]3 years ago

3 0

Answer:

cash and supplies accounts but that is not an option

Explanation:

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Sheridan Repair Shop had the following transactions during the first month of business as a proprietorship. Journalize the trans

Andre45 [30]

Answer: Explanation:

We debit the contributed assets and credit the capital account

cash 11,290 debit

equipment 2,740 debit

capital account 14,030 credit ( 11290 + 2740)

we debit the asset and recognize the payable amount

supplies 450 debit

account payable 450 credit

we debit the assets and credit the revenue

cash 1,303 debit

account receivable 689 debit

service revenue 1,992 credit (1303 + 689)

we debit the expense and credit the asset we use to pay it

rent expense 634 debit

cash 634 credit

we debit the expense and credit the consumed asset

supplies expense 187 debit (450 purchase - 263 at hand)

supplies 187 credit

8 0

3 years ago

For widgets, the supply curve is the typical upward-sloping straight line, and the demand curve is the typical downward-sloping

cluponka [151]

Answer:

The dead-weight loss from the tax is $2,250

Explanation:

Free market equilibrium price is P1

Total social economic benefit is the sum of:

consumer surplus (area below demand curve and above price line P1) and
producer surplus (area above supply curve and below P1)

When tax is imposed, quantity is reduced, price increased to P2 for consumer, P0 for supplier.

The part of the loss from consumer and producer surplus is compensated with the revenue from tax.

The other part (red triangle) is the dead-weight loss. Its amount is given by the area of the triangle with:

base length being the tax amount ($15/unit) and
height being the reduced quantity (300 units)

S = $\frac{1}{2} \times 15 \times 300 = 2,250$

3 0

4 years ago

Joachim is the sales manager of a large car dealership. He wants to increase sales significantly over the next 12 months, and he

Anastasy [175]

Answer:

making business Strategy

Explanation:

As he and his staff has already planned out what they have to sell . He is now making a business strategy to implement. Business strategy is developed to achieve the desired results within the required time and with the given opportunities or circumstances. In other words it is a master plan set out to get the required results within a specific environment with specific alternatives.

5 0

3 years ago

Amrit initiated a new venture with cash Rs 20,000 ,bank balance Rs 80,000 and computer Rs 50,000

NISA [10]

Answer:

so what do u want

question

7 0

3 years ago

A company reported net income of $9,660,000 for the year. There were 4.1 million shares of common stock outstanding at the begin

AURORKA [14]

THE COMPANY'S EARNING PER SHARE FOR THE YEAR WILL BE $2.30 PER SHARE.

Explanation:

FOR CALCULATING EARNING PER SHARE WE HAVE TO USED THE FOLLOWING FORMULA:

EARNING PER SHARE = $\frac{NET INCOME}{AVERAGE OF COMMON STOCK}$

GIVEN:

NET INCOME = $9,660,000

NO. OF OUTSTANDING SHARE AT BEGINNING OF YEAR = 4,100,000

NO. OF OUTSTANDING SHARE AT END OF YEAR = 4,300,000

AS PER GIVEN FORMULA :

AVERAGE COMMON STOCK OUT STANDING = $\frac{4,100,000+4,300,000}{2}$ = 4200000 SHARES

NOW WE WILL FIND EARNING PER SHARE USING ABOVE FORMULA:

$\frac{9,660,000}{4,200,000}$

EARNING PER SHARE = $ 2.30 PER SHARE

6 0

3 years ago