1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
labwork [276]
3 years ago
10

Indicate the effect of each transaction during the month of October 2016 and the balances for the accounting equation after all

transactions have been recorded. No beginning balances exist in the accounts. An accounting equation has been provided.
a. Opened a business bank account for Jones, Inc., with an initial deposit of $45,000 in exchange for capital stock.
b. Paid rent on the office building for the month, $2,000.
c. Received cash for fees earned of $5,000.
d. Purchased equipment, $7,000.
e. Borrowed $20,000 by issuing a note payable.
f. Paid salaries for the month, $1,000.
g. Received cash for fees earned of $8,000.
h. Paid dividends, $3,000.
i. Paid interest on the note, $100.
Assets = Liabilities + Stockholders’ Equity
Cash Equipment Notes Payable Capital Stock Retained Earnings
a.
b.
c.
d.
e.
f.
g.
h.
i.
Bal.
Using the information above, prepare (1) an Income Statement, (2) a Statement of Retained Earnings, (3) a Balance Sheet, and (4) a Statement of Cash Flow for the month of October. Pay special attention to proper formatting for each statement.
Business
1 answer:
Nikolay [14]3 years ago
5 0

Answer:

Test answer

Explanation:

Please delete that answer

You might be interested in
In a perfectly competitive market, Multiple Choice all firms produce and sell a standardized or undifferentiated product. the ou
Umnica [9.8K]

Answer:

all firms produce and sell a standardized or undifferentiated product

Explanation:

A perfectly competitive market is a market in which there are many companies that offer the same product, there are not entry barriers which makes it easy for an organization to enter or exit the market. Also, the companies are not able to influence the market and they are not able to control the conditions in it. According to this, the answer is that in a perfectly competitive market, all firms produce and sell a standardized or undifferentiated product.

6 0
3 years ago
You want to purchase a new condominium that costs $325,000. Your plan is to pay 20 percent down in cash and finance the balance
alekssr [168]

The monthly mortgage payment including principal and interest is $1,936.25

Explanation:

PV = (1 - 0.20) × $325,000 = $260,000‬

r = 0.041 / 12

t = 15 * 12 = 180

C = \frac{PV}{\frac{1- [\frac{1}{(1+r)^{t} } ] }{r}}

C = $260,000‬ ÷ [1 - {1 / (1 + 0.041 / 12)∧180} / (0.041 / 12)]

C =  $1,936.25

The monthly mortgage payment including principal and interest is $1,936.25

7 0
3 years ago
Getthere airlines currently charges $200$ dollars per ticket and sells $40{,}000$ tickets a week. for every $10$ dollars they in
Nataly_w [17]
Suppose GetThere Airlines increases their ticket price to $200+10n = 10(20+n)$ dollars. Then the number of tickets they sell is $40,000-1000n = 1000(40-n)$ .<span> Therefore, their total revenue is
</span>
$$10(20+n)\cdot 1000(40-n) = 10000(20+n)(40-n) = 10000(800+20n-n^2).$$

This is maximized when $n=-\left(\frac{20}{2\cdot(-1)}\right)=10$ .<span> Therefore, they should charge </span><span>$200+10\cdot 10 = \boxed{300}$</span><span> dollars per ticket.</span>
6 0
3 years ago
Earnings per share: Select one: a. Will always be lower than the dividend paid per share b. Will always be higher than the divid
Svetlanka [38]

Answer:

b. Will always be higher than the dividend paid per share

Explanation:

A firm pays dividend to it's stockholders based upon it's earnings.

Earnings per share (EPS) is expressed as:

= \frac{Earnings\ available\ to\ stockholders}{No.\ of\ stocks\ outstanding}

Dividend payout ratio on the other hand is expressed as:

= EPS (1 - b)

wherein, b = retention ratio which denotes the percentage of earnings retained by a firm i.e not distributed as dividends.

Thus, a firm's earnings per share would always be higher than the dividend paid by it per share.

7 0
2 years ago
ABC Corporation is considering the purchase of a machine that would cost $110,000 and would last for 4 years. At the end of 4 ye
Ahat [919]

Answer:

-$8,705

Explanation:

The computation of the Net present value is shown below

= Present value of all yearly cash inflows after applying discount factor + salvage value - initial investment

where,

The Initial investment is $110,000

All yearly cash flows would be

= Annual cost savings × PVIFA for 4 years at 12%

= $30,000 × 3.0373

= $91,119

Refer to the PVIFA table

And, the salvage value would be

= Salvage value × pvif for 4 years at 12%

= $16,000 × 0.636

= $10,176

The discount factor should be computed by

= 1 ÷ (1 + rate) ^ years

Now put these values to the above formula  

So, the value would equal to

= $91,119 + $10,176 - $110,000

= -$8,705

5 0
2 years ago
Other questions:
  • What would be your future account value (after-tax and after-inflation) if you invested $125 each month into a growth mutual fun
    6·1 answer
  • EZ Workout Inc. advertises Fit Step, an exercise machine, online. In its ads, EZ claims that the use of Fit Step measurably enha
    10·1 answer
  • There are several bridges along highway 280 which are free to ride on. This bridge was built and is being maintained by the gove
    11·1 answer
  • Which would be most helpful when considering a large expenditure that might require repeating payments? Check all that apply.
    7·2 answers
  • Discuss the advantages and disadvantages of owning versus renting a home.
    12·1 answer
  • Jerry lives in New Mexico and makes $52,000 a year. If the median annual income in New Mexico is $53,731 and the median annual i
    12·2 answers
  • What is the main responsibility of the press secretary?
    14·2 answers
  • PLEASE HELP TIME SENSITIVE TEST
    10·1 answer
  • Vivien's project manager has asked her to analyze the project requirements before finalizing them. What would she look for and a
    15·1 answer
  • Scrapper Elevator Company has 20 sales representatives who sell its product throughout the United States and Canada. The number
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!