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grigory [225]
3 years ago
6

Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of a new company called Pose-for-Pics.

Business
1 answer:
Taya2010 [7]3 years ago
3 0

Answer:

<h2>Pose-for-Pics</h2>

a) T-Accounts:

Date    Description               Debit        Credit

Common Stock

Aug. 1  Cash                                           $6,500

           Photography Equipment           33,500

Aug. 31 Balance                $40,000

Date    Description               Debit        Credit

Cash Account

Aug. 1  Common Stock     $6,500

Aug. 2 Prepaid Insurance                     $2,100

Aug. 5 Office Supplies                            $880

Aug. 20 Fees Earned        $3,331

Aug. 31 Utilities                                       $675

Aug. 31 Balance                                    $6,176

Date    Description               Debit        Credit

Photography Equipment

Aug. 1  Common Stock   $33,500

Date    Description               Debit        Credit

Prepaid Insurance Account

Aug. 2  Cash                       $2,100

Date    Description               Debit        Credit

Office Supplies

Aug. 5  Cash                       $880

Date    Description               Debit        Credit

Fees Revenue

Aug. 20  Cash                                      $3,331

Date    Description               Debit        Credit

Utilities Expense

Aug. 31  Cash                       $675

b) Trial Balance as of August 31:

Accounts                     Debit       Credit

Cash                          $6,176

Photography Equip 33,500

Prepaid Insurance      2,100

Office Supplies             880

Utilities Expense           675

Common Stock                          $40,000

Fees Revenue                                 3,331

Total                       $43,331        $43,331

Explanation:

a) The Common Stock equals the cash and equipment contribution made by Madison Harris, the owner of Pose-for-Pics.

b) Pose-for-Pics' T-accounts are the general ledger accounts of the company.  They record the individual accounts' transactions for the accounting period, usually a month, which are summarized by the preparation of the trial balance as of month-end.

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Answer:

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As we know that

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So, the change is

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3 0
3 years ago
7. Liqin fixes up old cars and sells them to supplement his retirement income. Liqin came across a beat-up 1955 Corvette that sh
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7 0
3 years ago
This program will store roster and rating information for a soccer team. coaches rate players during tryouts to ensure a balance
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Explanation:

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#include <vector>

using namespace std;

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       cout << "Enter player " << i

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       cin >> temp;

       jerseyNumber.push_back(temp);

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       cin >> temp;

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       cout << endl;

   }

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       cout << "Player " << i + 1 << " -- "

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   char option;

   '

   while (true) {

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       cin >> option;

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               cin >> temp;

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               break;

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               int i;

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                            << jerseyNumber.at(i)

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               for (int i = 0; i < jerseyNumber.size();

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4 0
3 years ago
Suppose that you are the vice president of operations of a manufacturing firm that sells an industrial lubricant in a competitiv
gladu [14]

Answer:

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Qd = 45 - 2P

Qd    = -15 + P

45 - 2P = P - 15

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Q = -15+20 = 5

The quantity will be 5 and price 20

<u>Now we will caclulate the consumer surplus:</u>

Which the area of the demand curve above the equilibrium.

We calculate he area of a triangle:

base x high / 2

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