Answer:
Required 1 : General journal entries
A.
Cash $100,750 (debit)
Capital ; K. Spade $100,750 (credit)
B.
Office Equipment $10,050 (debit)
Trade Payable $10,050 (credit)
C.
Trade Payable $10,050 (debit)
Cash $10,050 (credit)
D.
Trade Receivable $2,700 (debit)
Fees Earned $2,700 (credit)
E.
Rent Expense $1,225 (debit)
Cash $1,225 (credit)
F.
Cash $1,125 (debit)
Trade Receivable $1,125 (credit)
Required 2 : Posting Journal Entries to T - Accounts
Cash Account
<u>Debit</u>
Capital ; K. Spade $100,750
Trade Receivable $1,125
Totals $101,875
<u>Credit</u>
Trade Payable $10,050
Rent Expense $1,225
Balance c/d $90,600
Totals $101,875
Capital Account
<u>Debit</u>
Balance c/d $100,750
Totals $100,750
<u>Credit</u>
Cash $100,750
Totals $100,750
Office Equipment Account
<u>Debit</u>
Trade Payable $10,050
Totals $10,050
<u>Credit</u>
Balance c/d $10,050
Totals $10,050
Trade Payable Account
<u>Debit</u>
Cash $10,050
Totals $10,050
<u>Credit</u>
Office Equipment $10,050
Totals $10,050
Trade Receivable Account
<u>Debit</u>
Fees Earned $2,700
Totals $2,700
<u>Credit</u>
Cash $1,125
Balance c/d $1,575
Totals $2,700
Rent Expense Account
<u>Debit</u>
Cash $1,225
Totals $1,225
<u>Credit</u>
Profit and Loss Account $1,225
Totals $1,225
Fees Earned Account
<u>Debit</u>
Trading Account $2,700
Totals $2,700
<u>Credit</u>
Trade Receivable $2,700
Totals $2,700
Explanation:
All transaction are first record in the journal. Be careful to use the account titles provided by the question.
The Posting to general account is the second stage in accounting. Here account balances to be transferred into the trial balance are established.
Answer:
Analysis of the Big Bart line discontinuity
Opportunity Costs :
Sales ($201,000)
Savings :
Variable Costs $175,000
Fixed Costs ($30,700 - $19,800) $10,900
Financial Advantage / (Disadvantage) ($15,100)
Conclusion :
Do not eliminate / discontinue Big Bart line.
Explanation:
The results show that closing Big Bart line results in a contribution towards fixed cost being lost to the amount of $15,100. Therefore leaving the entire company in a worse off position.
Recruitment: Search for new qualified people
explanation: it means like to get new people to join company if there are vacancies
Answer:
Dr investment in Dove Company 125,000
Cr Cash 125,000
Explanation:
Since Osprey's investment results in a significant influence over Dove, Osprey must use the equity method to record this transaction. When the equity method is used, the investment is recorded at cost and any goodwill should be amortized by net income from following periods.
Answer:
overall rehabilitation goal.
Explanation:
In order for rehabilitation to be successful, an overall rehabilitation goal must be established. This overall goal must include where the patient plans to live, work and socialize after the rehabilitation process is over. By setting the overall rehabilitation goal, therapy can be directed to focus on specific activities related to that goal.
For example, a patient that plans to live in an apartment in a big city has to carry different activities than a patient who plans to live in a house in a small town or in the countryside.