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3 years ago

During the first month of operations, , Inc., completed the following transactions:

Business

1 answer:

forsale [732]3 years ago

4 0

Answer:

General Ledger

Jul 2

Cash $68,000 (debit)

Common Stock $68,000 (credit)

Cash received in exchange for common stock

Jul 3

Supplies $700 (debit)

Equipment $11,800 (debit)

Accounts Payable $12,500 (credit)

Supplies and Equipment purchased on credit

Jul 4

Cash $5,400 (debit)

Service Revenue $5,400 (credit)

Cash received for service rendered

Jul 7

Land $33,000 (debit)

Cash $33,000 (credit)

Cash paid for acquisition of Land

Jul 11

Accounts Receivable $4.100 (debit)

Service Revenue $4.100 (credit)

Service rendered on credit

Jul 16

Accounts Payable $11,800 (debit)

Cash $11,800 (credit)

Settlement of Account Receivable

Jul 17

Advertising Expense $570 (debit)

Cash $570 (credit)

Cash paid for Advertising

Jul 18

Cash $2,000 (debit)

Account Receivable $2,000 (credit)

Cash received from Account Receivable

Jul 22

Water and Electricity Expenses $400 (debit)

Cash $400 (credit)

Cash paid for utilities

Jul 29

Cash $2.700 (debit)

Service Revenue $2.700 (credit)

Cash received for Services Rendered

Jul 31

Salaries Expenses $2,300 (debit)

Cash $2,300 (credit)

Cash paid for Salaries

Jul 2

Dividends $2,500 (debit)

Cash $2,500 (credit)

Dividends paid in cash

Explanation:

See the Journals and narrations that i have prepared above.

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1 year ago

Custom Homebuilders (CH) designs and constructs high-end homes on large lots owned by customers. CH has developed several formul

Alexandra [31]

Answer:

$981,000 - Total Building Cost

Explanation:

To answer this question, we were told that the customer wants to build a moderate 3,800 square foot home. However, although it says with no utilities, utility cost will be applicable because it represents what is needed by the builders and engineers to get their work done on the vacant lot of land.

Therefore, the cost to build = Administrative cost + Building cost (moderate) + appliances cost + utilities cost

= $40,000 + (220 x 3800 square foot) + $45,000+ $60,000

=$40,000 + $836,000 + $45,000+ $60,000

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3 years ago

Executives of Studio Recordings, Inc., produced the latest compact disk, the Starshine Sisters Band, titled Starshine/Moonshine.

Alexxandr [17]

Answer:

a) Contribution margin= $6,4

b) break-even point:

in units=76562 cds

in dollars=$869058

c) Net profit= $5910000

d) Q=107813 cds

Explanation:

Variable costs:

CD package and disc $1.25/CD

Songwriters’ royalties $0.35/CD

Recording artists’ royalties $1.00/CD

Total Variable costs= $2,6

Fixed Costs:

Advertising and promotion $275,000

Studio Recordings$215,000

Total fixed costs= $490000

Price=$9

a) contribution margin= Price- variable costs= 9-2,6= $6,4

b) break-even point:

in units=fixed costs/contribution margin=490000/6,4= 76562 cds

in dollars= fixed costs/(contribution to sale ratio)

in dollars= fixed costs/(contribution margin/price)

in dollars= 490000/(6,4/9)= $869058

c) q=1000000

sales= 9000000 (1000000*9)

variable costs= -2600000 (1000000*2,6)

fixed costs= -490000

Net profit= $5910000

d)Profit= 200000 q=?

using the break-even formula

Q=(fixed cost+profit)/contribution margin

Q=690000/6.4=107813 cds

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2 years ago

You and your friends hike a total of 8 miles to the nearest campsite (Activity A). Upon arriving you break off into teams. One t

IgorLugansk [536]

Answer:

a. The critical path is 16 minutes.

b. The length of time to complete the entire process = 23 minutes.

Explanation:

a) Data and Calculations:

Activity Optimistic time Most Likely Time Pessimistic Time

to complete to Complete to Complete

A Hike to the campsite 3 5 8

B Set up campsite 2 4 5

C Collect wood for fire 1 3 5

D Start a fire 1 2 3

E Find water 0.5 1 3

F Collect water & bring it

back to camp 1 2 4

G Purify the water 1 2 4

H Cook and eat dinner 1 3 4

I Put out fire 1 2 4

J Dispose of food waste 0.5 2 3

K Return from food

waste disposal 0.25 1 2

Total time 12.25 27 45

Critical path: Activity A - Activity B

Activity A - Activity C 3 - Activity D 2 - Activity E 1 - Activity F 2

Activity G 2 - Activity H 3 - Activity I and J 2 - Activity K 1

= 3 + 2 + 1 + 2+ 2 + 3 + 2 + 1 = 16 minutes

Length of time to complete the entire process = 27 - 4 = 23

The critical path identifies the longest stretch of dependent activities and measuring the time required to complete them from start to finish.

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2 years ago

In economics, all of the following are included among the three main uses of money EXCEPT:

Anestetic [448]

The answer is B, which is weight of gold. I say this because money is used as a means of exchange, that is; it is used to get goods.
Money is also used to store value because if you pay for something, you value it more.
It is also a unit of account. Hope i helped. Have a nice day.

4 0

3 years ago

Read 2 more answers

During the first month of​ operations, ​, ​Inc., completed the following​ transactions:

During the first month of operations, , Inc., completed the following transactions: