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boyakko [2]
3 years ago
11

Sam takes a five-dollar bill from his wallet. He exchanges the bill for four quarters and four one-dollar bills. He then uses th

e change to buy a bottle of water from a vending machine. Which characteristics of money has sam best demonstrated?
Business
1 answer:
s344n2d4d5 [400]3 years ago
7 0

Answer: Acceptability, portability and divisibility of money.

Explanation:

The question illustrates the acceptability, portability and the divisibility of money. The acceptability of money means that money is widely accepted as a medium for transaction, divisibility of money means that money can be broken down to smaller denominations and the portability of money means that money is easy to carry about.

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Select all parts that should be included in a resume.
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Answer:

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3 years ago
Requirements
Stella [2.4K]

Journal entries:

Nov. 1, common stocks issued

Dr Cash 41,000

    Cr Common stock 41,000

Nov. 4, office supplies and furniture purchased

Dr Office supplies 1,200

Dr Furniture 2,300

    Cr Accounts payable 3,500

Nov. 6, service revenue

Dr Cash 2,100

    Cr Service revenue 2,100

Nov. 7, land purchased

Dr Land 27,000

    Cr Cash 27,000

Nov. 10, service revenue

Dr Accounts receivable 800

    Cr Service revenue 800

Nov. 14, payment of furniture

Dr Accounts payable 2,300

    Cr Cash 2,300

Nov. 15, wages expense

Dr Wages expense 1,470

    Cr Cash 1,470

Nov. 17, collection of accounts receivable

Dr Cash 500

    Cr Accounts receivable 500

Nov. 20, service revenue

Dr Accounts receivable 680

    Cr Service revenue 680

Nov. 25, received cash in advance

Dr Cash 1,900

    Cr Unearned revenue 1,900

Nov. 28, service revenue

Dr Cash 3,100

    Cr Service revenue 3,100

Nov. 29, purchase prepaid insurance

Dr Prepaid insurance 840

    Cr Cash 840

Nov. 30, wages expense

Dr Wages expense 1,470

    Cr Cash 1,470

Nov. 30, rent expense

Dr Rent expense 650

    Cr Cash 650

Nov. 30, utilities expense

Dr Utilities expense 650

    Cr Accounts payable 650

Nov. 30, dividends distributed

Dr Retained earnings 2,800

    Cr Dividends payable 2,800

Dr Dividends payable 2,800

    Cr Cash 2,800

Since there is not enough space here, I prepared an excel spreadsheet with the T-accounts.

In order to prepare a trial balance sheet, I must first prepare an Income Statement:

Service revenue              $6,680

Wages expense             ($2,940)

Rent expense                   ($650)

<u>Utilities expense              ($650)</u>

Net income:                    $2,440

Retained earnings = $2,440 (net income) - $2,800 (dividends) = ($360)

        STEWART CO.

     BALANCE SHEET

       NOV. 30, 2018

Assets:

Cash $12,070

Accounts receivable $980

Prepaid insurance $840

Office supplies $1,200

Furniture $2,300

Land $27,000

Total assets: $44,390

Liabilities and stockholders' Equity:

Accounts payable $1,850

Unearned revenue $1,900

Common stock $41,000

Retained earnings ($360)

Total liabilities and stockholders' equity: $44,390

Download pdf
8 0
3 years ago
A manufacturing company has been inspecting units of output from a process. Each product inspected is evaluated on five criteria
laila [671]

Answer:

3,300 defects

Explanation:

If there are 5 defect opportunities per unit, and 2,000 units were inspected, the number of defects per opportunity observed was:

DPO = \frac{33}{5*2,000}\\DPO=0.0033

Therefore, the number of defects per 1 million opportunities (DPMO) is:

DPMO = 0.0033*1,000,000\\DPMO = 3,300

The number of defects per 1 million opportunities (DPMO) for this process is 3,300.

7 0
3 years ago
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