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marin [14]
3 years ago
14

On December 31, the company purchases equipment for $10,000 and pays for the purchase in cash. Complete the necessary journal en

try by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns.
Business
1 answer:
Vladimir [108]3 years ago
7 0

Answer:

Date            General           Debit      Credit

                                                 $             $

Dec 31        Equipment        10000  

                   Cash                                 10000

Following are detail of the posting of equipment purchased

1) The $10,000 will be posted to the debit side of the Equipment Account.

2) The $10,000 will be posted to the credit side of the Cash Account

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A special surveillance and rescue team is being deployed to counter the menace of pirates in the Indian Ocean. Nick, Sid, Leah,
masha68 [24]

Answer:

cohesion

Explanation:

i think its cohesion because the word means to unite and if the understanding is high then when they combine it would be greater. im not 100% though

5 0
3 years ago
Regarding the overall effect of negative interest rates on the economy, economists
vova2212 [387]

Answer:

The effect of negative interest rates on the economy is reflected in option D:  negative interest rates simply cannot happen in reality.  Answer D is the correct response.

Explanation:

Answer C is partially correct.  In reality, experiments are running on economies as today:  Greece economy.  After a huge recession in previous years, the Government has released bonuses that, at the end of their effective period, will be charging people for actually buy them, and not paying them back.  This leads us to answer D: negative interest rates can actually happen, but they cannot exist as an economic mechanism that develops the economy:  customers will go for profit, not cost.  

The effect of this model is negative on the economy since it will not provide enough resources for stimulation.  Also, it will not slow it down since it is not expected that an instrument with negative interest rates will be accepted, in the form of bonuses, by customers; or loans, provided by banks.

8 0
3 years ago
Which ad format is available on a Smart Shopping campaign but not a Standard Shopping campaign? certification
Mrac [35]

Certification campaign is the ad format is available on a Smart Shopping campaign but not a Standard Shopping campaign.

<h3>What is certification campaign?</h3>

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This type of.l campaign uses automated bidding and ad placement to promote your products.

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5 0
1 year ago
Desrevisseau Inc., a manufacturing company, has provided the following data for the month of August. The balance in the Work in
Delicious77 [7]

Answer:

B. $130,000

Explanation:

We know,

Cost of goods manufactured = Direct materials + Direct labor + Manufacturing overhead + Beginning work-in-process - Ending work-in-process

Given,

Direct materials = $60,000

Direct labor = $39,000

Manufacturing overhead = $43,000 (As the manufacturing overhead cost applied to work-in-process, so we will take $43,000 instead of $40,000).

Beginning work-in-process = $10,000

Ending work-in-process = $22,000

Putting the information into the above formula, we can get,

Cost of goods manufactured = $60,000 + $39,000 + $43,000 + $10,000 - $22,000

Cost of goods manufactured = $130,000

5 0
3 years ago
Greiner, Inc., a calendar year S Corporation, holds no AEP. During the year, Chad, an individual Greiner shareholder, receives a
Likurg_2 [28]

Answer:

The long term capital gain= $30000-$25000

The long term capital gain= $5000

The basis in stock will be zero after the distribution.

Explanation:

Step 1 of 3

Tax treatment of amount distributed to shareholders:

The amount received as distribution to a shareholder under S Corporation is equal to the cash and fair market value of property distributed. The distribution is considered as tax-free to the limit that it does not exceed shareholder’s basis in the company’s stock. Any amount received in excess of basis will be treated as capital gain.

Step 2 of 3

However, taxation depends whether S Corporation has ever been a C Company or it posses’ accumulated earnings and profits. If it was never a C Corporation or doesn’t holds AEP then distribution equals to basis of share in S Corporation is a tax free gain for shareholder. Gain over and above basis is taxed as capital gains.

Step 3 of 3

In the given problem, C is a shareholder in S Corporation. He receives $30,000 as cash distribution. His basis in stock is $25,000. The distribution up to basis of stock is tax free distribution and above that is charged to capital gains. It is as follows-

Thus, capital gain of  is taxable in hands of C. His basis in S Corporation will reduced to zero as entire distribution is over and above basis of his stock.

3 0
3 years ago
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