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lara31 [8.8K]
3 years ago
6

Other things held constant, which of the following actions would increase the amount of cash on a company's balance sheet? Group

of answer choices The company issues new common stock. The company gives customers more time to pay their bills. The company purchases a new piece of equipment. The company repurchases common stock. The company pays a dividend.
Business
1 answer:
Yakvenalex [24]3 years ago
6 0

Answer:

The company issues new common stock.

Explanation:

As we know that the cash balance have the debit balance so if there is increase in cash balance so the balance would remain in debit itself

In the given choices, the company issues common stock which increases the cash balance and the journal entry is as follows

Cash Dr XXXXX

      To Common stock XXXXX

(Being the common stock is issued for cash)

And, the rest transactions shows the outflow of cash

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The Reingold Hat Company uses the allowance method to account for bad debts. During 2018, the company recorded $800,000 in credi
olasank [31]

Answer:

$24,000

Explanation:

Since in the question it is given that the  3% of credit sales is considered to be a bad debt expense

where,

Credit sales is $800,000

And, the estimated percentage is 3%

So by considering this above information, the amount debited to bad debt expense is

= $800,000 × 3%

= $24,000

All the other information i.e to be given is not relevant. Hence, ignored it

4 0
3 years ago
Partner Industries sells a single product for $50 that has a variable cost of $30. Fixed costs amount to $15 per unit when antic
DENIUS [597]

Answer:

$20.

Explanation:

As the question require us to calculate the profit when one unit in excess of break-even point is sold, so we have to calculate the break-even quantity first. The formula to calculate the break-even quantity is:

          Break-even Units = Fixed Cost / (Contribution Margin Per Unit)

where

Contribution margin per unit = Selling price per unit - variable cost per unit

⇒ Break-even units = 15 / (50 - 30) = .75.

This makes the one unit in excess of break-even volume to be 1.75. Now, we have to draft the income statement to determine the operating profit when sales volume is 1.75.

                                               Income Statement

Revenue (50 * 1.75)                                                          $87.5

Variable Cost (30 * 1.75)                                                   (52.5)

Fixed Cost                                                                           (15)

Operating Profit                                                                $20

3 0
3 years ago
Read 2 more answers
If the owner of a children's day-care center were to answer the question, "what business are you in?" with the statement, "We nu
S_A_V [24]

Answer:

Yes is a  market-oriented mission statement.

Explanation:

Small businesses solve problems and offer solutions for a customer's needs. A market-oriented mission statement defines a purpose that focuses on satisfying a customer's needs. The purpose of a market-oriented mission should match current market data and environments

5 0
3 years ago
Journalize the adjusting entries from the adjustments columns of the worksheet. (Credit account titles are automatically indente
Crazy boy [7]

Answer:

The following are the adjusting entries and the amounts entered are supposed and imaginary.

Explanation:

Date          Account Titles and Explanation        Debit          Credit

Mar. 31          Supplies Expense  Dr                    10,000

                          Supplies Account  Cr                                 10,000

When supplies are expensed out. If supplies have a balance of 30000 and 10000 is used up.

Mar. 31         Depreciation Expense  Dr             5000

                    Accumulated Depreciation  Cr                        5000

Depreciation expense amounts to 5000 for the current year

Mar. 31      Unearned Service Revenue Dr      3000

                         Service Revenue      Cr                         3000

Unearned Service Revenue is a liability of the person or company.

Mar 31.   Salaries and Wages Expenses  Dr      2000

                                Cash      Cr                                     2000

Slaries and wages paid in full by cash to 2000

6 0
3 years ago
NEED ASAP PLEASE
nignag [31]
The answer is B. Hope this helps.

7 0
3 years ago
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