Answer:
supplies 770* debit
office equipment 1,820 debit
cash 460 credit
accounts payable 2,130 credit
-- to transfer subsidiary purchase book into journal --
Explanation:
we will do a single entry for the whole purchases of the month.
we add the supplies purchases:
*supplies purchases:
Apr 4 460
Apr 16 120
Apr 19 <u> 190 </u>
770
We calcualte the accoutn payable balance:
account payable:
770 supplies purhcase + 1,820 equipment purchase - 460 payment = 2,130
then cash used for 460
and equipment purchase for 1,820
the purchases assets goes into debit side
while the account payable and the cash used on credit
Explanation:
Credit purchase : When goods are purchased on credit , cash does not go out , but supplier or creditor becomes the giver. Therefore , goods or purchases account is debited and supplier or creditor account is credited.
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Answer:
No the given statement is not correct.
Explanation:
Federal Government does not determine the pay structure for any occupation. Each occupation determine its own salary structure. For example, the doctors would determine their own fee that they would charge to the patients, schools will determine their fee that they would charge from students, lawyers determine their own fee, and the examples are countless. Government sometimes only sets the minimum level of wage that must be paid to a worker. For example government can put a base at 10 dollars wage rate that has to be given to the worker working for you. So you must give the worker at least $10, but you can give him $15 or $20, as much as you like and as much as he charges you, but you can't give him less than 10 dollars
Answer: short selling
Explanation: In simple words, short selling refers to the process in which an individual borrows stock from its holder with the promise of giving it back after a specific time and at a specific price, after borrowing he or she sells the stock at the current market price and expects that the price of stock will decrease in future.
The borrower then purchases the stock at a lower price and gives it back to the lender with the margin profit in his or her pocket. Short selling works like a speculation but only market experts do such activity due to high risk involved.
Such processes are of high value to the market as they result in creation of liquidity.
Answer:
8.38%
Explanation:
Data provided
Annual dividend = $8.5
Perpetual preferred stock = $102.50
Flotation cost = 4.00%
The computation of cost of preferred stock is shown below:-
Cost of preferred stock = Annual dividend - (Perpetual preferred stock - (Perpetual preferred stock × Flotation cost percentage))
= $8.5 ÷ ($102.50 - ($102.50 × 0.04))
= $8.5 ÷ ($102.50 - $4.1)
= $8.5 ÷ $101.4
= 8.38%
