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natita [175]
4 years ago
10

Alex invested $30,000 in cash in his business. How will this entry be posted in the ledger accounts? (You may select more than o

ne answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)The $30,000 will be posted to the credit side of the Cash account.The $30,000 will be posted to the debit side of the Cash account.The $30,000 will be posted to the debit side of the Common Stock account.The $30,000 will be posted to the credit side of the Common Stock account.
Business
1 answer:
Over [174]4 years ago
7 0

Answer:

The $30,000 will be posted to the debit side of the Cash account

The $30,000 will be posted to the credit side of the Common Stock account

Explanation:

The journal entry is shown below:

Cash A/c Dr $30,000

        To Common stock  A/c $30,000

(Being the cash is invested)

We simply debited the cash account and credited the capital account for $30,000 so that the correct posting can be done. So while preparing the ledger accounts we post the amount to the debit side of the cash account and credit side of the common stock account

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7 0
3 years ago
Crowl Corporation is investigating automating a process by purchasing a machine for $793,800 that would have a 9-year useful lif
Vsevolod [243]

Answer:

Simple rate of return is 5.8%

Therefore option (a) is correct option.

Explanation:

It is given that purchase cost = $793800

Company saving per year = $133000

Yielding = $21200

Annual depreciation = $88200

Annual profit = $133000 - $88200 = $44800

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Simple rate of return =\frac{44800}{772600}=0.0579

= 5.8%

Therefore simple rate of return is 5.8 %

So option (a) is correct.

6 0
3 years ago
Andersen's Nursery has sales of $318,400, costs of $199,400, depreciation expense of $28,600, interest expense of $1,100, and a
CaHeK987 [17]

Answer:

$34,645

Explanation:

Given that,

sales = $318,400

costs = $199,400

depreciation expense = $28,600

interest expense = $1,100

Tax rate = 35 percent

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Profit before tax:

= Sales - cost - Depreciation - Interest

= $318,400 - $199,400 - $28,600 - $1,100

= $89,300

Profit after tax:

= Profit before tax (1 - Tax rate)

= $89,300 (1 - 0.35)

= $89,300 × 0.65

= $58,045

Therefore, the addition to retained earnings

= Profit after tax - Dividend paid

= $58,045 - $23,400

= $34,645

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3 years ago
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Answer:

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4 years ago
U.S. exports create a:____.
alisha [4.7K]

Answer:

B) Supply of foreign currencies and a supply of dollars in the foreign exchange markets

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5 0
3 years ago
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