Pure risk is also called tension risk electric risk static risk

Assets for Smith Company are $30,000. Liabilities are $20,000. What is the Equity for Smith Company?

geniusboy [140]

Answer:

$10,000

Explanation:

8 0

3 years ago

G during february, $186,500 was paid to creditors on account, and purchases on account were $201,400. assuming the february 28 b

Rufina [12.5K]

The balance on Feb 1 was $44,100. Find by solving for x, the account balance on Feb 1, knowing that $59,900 was the balance on Feb 28. Find by adding $201,400 of purchases and subtracting $186,500 paid to creditors:
x + 201,400 - 186,500 = 59,000.
x + 201,400 = 245,500
x = 44,100

4 0

3 years ago

On January 1, 2021, Red Flash Photography had the following balances: Cash, $19,000; Supplies, $8,700; Land, $67,000; Deferred R

ira [324]

Answer:

Red Flash Photography

Balance Sheet as at January 1, 2018,

Assets

Cash,............... $26,000

Supplies,........... $9,400

Land, ........ .......$74,000

Total..................109, 400

Capital and Liabilities

Deferred Revenue... $6,400

Common Stock..... ..$64,000

Retained Earnings...$39,000.

Total............................109,400

Red Flash Photography

Balance Sheet as at 31st December 2018

Revised Balance Sheet on 31st December 2018

Assets

Cash..........................................42,600

Account Receivable............ 44,000

Supplies....................................15,800

Land..........................................74,000

Prepaid Rent............................19,500

Total........................................... 195,900

Capital & Liabilities

Common Stock ......................98,000

Retained Earnings.................56,500

Accrued Wages........................5,400

Accounts Payable...................36,000

Total........................................... 195,900

Explanation:

1. February 15 Issue additional shares of common stock, $34,000.

ADD 34,000 TO EQUITY, AND TO CASH

2. May 20 Provide services to customers for cash, $49,000, and on account, $44,000.

LESS 49,000 FROM CASH AND ADD TO RETAINED EARNINGS AS INCOME, ADD 44,000 AS ACCOUNT RECEIVABLES AND ADD TO INCOME IN RETAINED EARNINGS

3. August 31 Pay salaries to employees for work in 2018, $37,000.

LESS 37,000 FROM CASH AND FROM RETAINED EARNINGS

4. October 1 Purchase rental space for one year, $26,000.

LESS FROM CASH AND FROM RETAINED EARNINGS

5. November 17 Purchase supplies on account, $36,000.

ADD TO STOCK, ADD TO ACCOUNTS PAYABLES

6. December 30 Pay dividends, $3,400.

LESS FROM CASH AND FROM RETAINED EARNINGS

The following information is available on December 31, 2018:

1. Employees are owed an additional $5,400 in salaries.

ADD TO ACCRUED SALARIES,LESS FROM RETAINED EARNINGS AS EXPENSES INCURRED IN THE PERIOD

2. Three months of the rental space has expired.

CREATE PREPAID RENT FOR 3/4 OF RENT (19,500) AND LESS 6500 FROM RETAINED EARNINGS AS EXPENSE FOR THE PERIOD

3. Supplies of $6,400 remain on hand.

LESS 19600 (26,000-6400) FROM SUPPLIES AND FROM RETAINED EARNINGS AS EXPENSE FOR THE PERIOD

4. All of the services associated with the beginning deferred revenue have been performed.

DELETE DEFERRED REVENUE OF 6,400 AND ADD SAME AMOUNT TO RETAINED EARNINGS AS INCOME EARNED

7 0

3 years ago

What was the opportunity cost in a situation in which you use your available cash to buy gas for your car and then stay hungry t

Elodia [21]

Answer:

see below

Explanation:

Opportunity cost is the sacrificed benefit by choosing a preferred option over others. The value of opportunity cost is the foregone benefit from the best alternative.

In this situation, the person had to choose between buying gas for the car or using that money to purchase food. Since the person opted to buy gas, they sacrificed having a meal for the rest of the day. The pleasure derived from eating is the opportunity cost for this person.

4 0

3 years ago

Whats a good way to make more money from $9.00,

Ymorist [56]

Your answer: work more hours

7 0

3 years ago

Pure risk is also called tension risk electric risk static risk​

Pure risk is also called tension risk electric risk static risk