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kompoz [17]
3 years ago
13

Issued a check for $1,010 to pay the monthly rent. Issued a $1,300 check to pay a creditor on account. Purchased new equipment f

or $390 and paid $110 immediately by check with the remainder due in 30 days. Provided services on credit in the amount of $860. Performed services for cash in the amount of $1,320. The owner made an additional investment of $5,600 in cash and $1,050 in equipment. Purchased $190 worth of supplies on credit. Sent a $105 check to the utility company to pay the monthly bill. Collected $650 from credit customers. Determine the accounts and amounts to be debited and credited for the above transactions for Folk Furniture Repair.
Business
1 answer:
kodGreya [7K]3 years ago
7 0

Answer:

Issued a check for $1,010 to pay the monthly rent

Account                         Debit          Credit

Rent Expense               $1,010

Bank                                                  $1,1010

Issued a $1,300 check to pay a creditor on account.

Account                         Debit          Credit

Creditor                        $1,300

Bank                                                  $1,300

Purchased new equipment for $390 and paid $110 immediately by check with the remainder due in 30 days.

Account                         Debit          Credit

Equipment                    $390

Bank                                                  $110

Accounts Payable                            $280

Provided services on credit in the amount of $860.          

Account                         Debit          Credit

Service Revenue                              $860

Accounts Receivable    $860

Performed services for cash in the amount of $1,320.

Account                         Debit          Credit

Service Revenue                              $1,320

Cash                              $1,320

The owner made an additional investment of $5,600 in cash and $1,050 in equipment.

Account                         Debit          Credit

Cash                              $5,600

Equipment                    $1,050

Capital                                              $6,650    

Purchased $190 worth of supplies on credit.  

Account                         Debit          Credit

Supplies                         $190

Accounts Payable                            $190

Sent a $105 check to the utility company to pay the monthly bill.

Account                         Debit          Credit

Utilities Expense           $105

Bank                                                  $105

Collected $650 from credit customers.

Account                         Debit          Credit

Cash                              $650

Accounts Receivable                       $650                                            

   

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The main advantage of diversification as an investment policy is that it
Lera25 [3.4K]

Answer:

Minimising risk of loss

Explanation:

One of the most significant values of investment is to guarantee that you have a extended portfolio. The key advantage of constructing a portfolio is that it helps in Limiting danger of misfortune. If one venture performs ineffectively over a specific period, different speculations may perform better over that equivalent period, decreasing the potential misfortunes of your venture portfolio from concentrating all your capital under one kind of speculation.

4 0
3 years ago
The Acmeville Metropolitan Bus Service currently charges $0.67 for an all-day ticket, and has an average of 513 riders a day. Th
Andreyy89

Answer:

Explanation:

Price elasticity = Percentage change in demand/Percentage change in Price

Percentage change in Q= 513-236=277/513x100 = 53.99%

Percentage change in P= 0.89-0.67= 0.22/0.67x100 = 32.83%

Ed=53.99/32.83 = 1.6

Since the price elasticity of demand is elastic so the company should decrease the price to increase revenu

4 0
2 years ago
Assignment Details
Brrunno [24]

Lego the most beautiful product which targets two different consumer segments or may be more,A danish based company best selling construction toy in the planet to make these sets it takes years to design and development which enables the portal to kids from the age of 3 to a civil engineer in is 40s. It take is simple logic building blocks children spent 5 billion hours on Lego and why is it interesting is because with 6 pieces of 8 studded blocks a person can built 915 million different combinations. It may not be fascinating for the kids but the adults love new challenges. Lego there is a brand called as Technic which makes the Lego come to life.

Lego Duplo is for the the kids between 2-5, Lego Classic is for kids , Lego creator is for 7 to 12 years Lego Technic can range 11 to 16 Lego creator which is 16 + age so this is how communication has been made for each target.

Explanation:

Marketing mix or the 4p's of marketing Price,Promotion, Product and Placement.

Consumer Segment are comprises of the age group a category that people are influenced to buy a certain product example Coca-Cola is mostly drank by elderly people but Pepsi is drank buy youngster at the adolescent age.

Communication is important as to it implies on a way it has been presented it could be either by social media or by google or pamphlets etc.

3 0
3 years ago
Assume that Germany and China can produce beer and cloth. If the MPLc/MPLb for Germany is 2/5 and the MPLc/MPLb for China is 1,
elena55 [62]

Answer: c. specialize in producing beer and export beer.

Explanation:

As per the Theory of Competitive Advantage posited by David Ricardo, a country should specialize in the good that it has a competitive advantage in. A country has a competitive advantage if it incurs a less opportunity cost in producing the good.

Opportunity cost of producing beer for Germany = MPLc/MPLb = 2/5

Opportunity cost of producing beer for China = MPLc/MPLb = 1

Germany has a lower cost of producing beer so they should specialize in this and export it.

6 0
3 years ago
Which of the following is an example of specialization?(APEX)
sasho [114]

Answer:

B. Pediatrics

Explanation:

Specialization means focusing on one or a few areas of study, work, or production. A business or an individual concrete on the field where they have a comparative advantage. Specialization increases efficiency as the individual become experts in a particular area. As experts, their productivity increase as they use few resources to achieve a high standard of performance.

Pediatric is a specialized branch of medicine that caters to children. A pediatrician is an expert doctor focusing on treating children, which is specialization.  A hospital, a general practitioner, and an organization are broad terms that don't point a specific line of activity.

4 0
3 years ago
Read 2 more answers
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