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FromTheMoon [43]
4 years ago
11

Following is information from Jesper Company for its initial month of business. Credit Purchases Cash Paid Jan. 9 Bailey Company

$ 18,000 Jan.19 Bailey Company $ 12,100 18 Johnson Brothers 8,600 27 Johnson Brothers 8,600 22 Preston Company 10,200 31 Preston Company 7,400 1. Post the above transactions in the accounts payable subsidiary ledger. 2. Post the accounts payable balance in the general ledger at month's end.
Business
1 answer:
Feliz [49]4 years ago
5 0

Answer:

1. Bailey Company has a credit balance of $5,900, Johnson Brothers has zero balance, while Preston Company has a credit balance of $2,800.

2. The total payables at the end of the month is $8,700 credit balance.

Explanation:

See the attached for the postings of 1 and 2.

Download xlsx
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An increase in the minimum wage​ ______. A. decreases employment and increases unemployment if it is set above the equilibrium w
fenix001 [56]

Answer:

The correct answer to fill the blank space will be option "C"

Explanation:

The relation between minimum wage and employment depends on the magnitude of the minimum wage relative to wage rate. Seein this we can say that an increase in the legal minimum wage will bring up the employment rate if it is set bellow the wage rate.

7 0
4 years ago
Read 2 more answers
Determine whether the following are functions of the Federal Reserve. a. Act as a banker's bank, clear checks, and provide depos
k0ka [10]

Answer:

The Federal Reserve is the central bank of the United States.  It is the bank for other banks and the banker to the government.

It functions include:

a) Acts as a banker's bank to clear checks, provides deposit services for banks, and facilitates smooth payment and settlement system.

b) As the banker's bank, it supervises and regulates member banks in order to protect consumers and maintain a healthy economy.  It also protects banks by ensuring they adhere to regulations and best practices.

c) It uses open market operations to target the supply of money in the economy by ensuring that the monetary policy of the government is carried out, especially with respect to inflation and deflation.  It uses interest rates and reserve rates to achieve this control.

d) It is the government's bank, offering banking services to the government, as other banks offer to corporations, institutions, and individuals.

Explanation:

It is not the function of the Federal Reserve to change tax rates to stabilize business cycles.  This is the government's prerogative, acting with Congress.  What the Federal Reserve changes is the interest and reserve rates.

The Federal Reserve does not have powers to increase government expenditures on infrastructure.  It does not provide banking services to larger corporations directly.  Instead, it provides banking services to the governments.

5 0
4 years ago
Super Saver Groceries purchased store equipment for $44,500. Super Saver estimates that at the end of its 10-year service life,
lions [1.4K]

Answer:

1) Using straight line method , depreciation for first year is $4,000

2) Using double declining balance , depreciation for first year is $8,900

3) Using activity based method,  depreciation for first year is $5,600

Explanation:

Given:

Cost = $44,500

Useful life = 10 years

Salvage value = $4,500

Useful life in hours = 10,000 hours

Super Saver used the equipment for 1,400 hours the first year.

1) Straight line method

Depreciation for first year = (cost - salvage value) ÷ useful life

= $(44,500 - 4,500) ÷ 10

= $4,000 per year

2) Double declining balance

Depreciation rate = (100 ÷ useful life) × 2

= (100 ÷ 10) × 2

= 20%

Depreciation for first year = $44,500 × 20%

= $8,900

3) Activity based

Rate = cost - salvage value ÷ useful life in hours

= ($44,500 - $4,500) ÷ 10,000

= 4 per hour

Depreciation for first year = 1,400 × 4

= $5,600

4 0
3 years ago
Number Style Which of the following sentences apply correct number style? Check all that apply.
34kurt

Answer:

1. We prefer that our interns have completed Finance 201 and an advanced professional communication course.

• He hopes to have at least $2 million in his retirement account by the time he turns 40

b • She has scheduled the meeting for March 11, 2008, at 8 a.m.

c. The average salary increase for Division 45 employees was 2.8 percent last year.

d. Three-fourths of the respondents

Explanation:

It should be noted that the numbers from one to ten should be written in word form, while those from 11 and above can be written in figures.

The numbers such as percentages that starts a sentence needs to be written in words. Therefore, 57% should be written in words

Therefore, the correct options are:

• We prefer that our interns have completed Finance 201 and an advanced professional communication course.

• He hopes to have at least $2 million in his retirement account by the time he turns 40.

Other correct options to the question include:

b. She has scheduled the meeting for March 11, 2008, at 8 a.m.

For information that has to do with meetings, the numbers should be written in numerical form.

c. The average salary increase for Division 45 employees was 2.8 percent last year.

d. Three-fourths of the respondents

The number should be written in words since it begins the sentence.

3 0
3 years ago
Kahn Performance Nutrition produces a protein shake that contains whey protein as one of its ingredients. The whey protein (mate
Radda [10]

Answer:

The correct answer is "-$7200 (Unfavorable)".

Explanation:

Given:

Actual quantity,

= 54000 pounds

Standard price,

= $3 per pound

Standard quantity,

= 4300\times 12

= 51600 \ pounds

As we know,

⇒ Material \ quantity \ variance=(Standard \ quantity-Actual \ quantity)\times Standard \ priceBy substituting the values, we get

⇒                                          =(51600-54000)\times 3

⇒                                          =(-2400)\times 3

⇒                                          =-7200 \ (Unfavorable)

8 0
3 years ago
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