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Anestetic [448]
3 years ago
12

Land $ 170,000 Equipment 66,000 Salaries Payable ? Notes Payable 88,000 Supplies 14,000 Cash 26,000 Common Stock 100,000 Retaine

d Earnings 40,000 Accounts Payable ? Prepaid Rent 12,000 If the company has total assets of $288,000, what is the balance of the company's Salaries Payable account?A. $12,000.
B. $25,000.
C. $15,000.
D. Cannot be determined given the information provided.
Business
1 answer:
Rudik [331]3 years ago
5 0

Answer:

D. Cannot be determined given the information provided.

Explanation:

The accounting equation deals with the 3 elements of the balance sheet namely; assets, liabilities and equity and the relationship between them as shown below.

Assets = Liabilities + Equity

Given;

Total asset = $288,000

Equity = Retained earnings + common stock

= 40,000 + 100,000

= $140,000

Liabilities =  $288,000 - $140,000

= $148,000

Liabilities include; Notes Payable 88,000, Salaries Payable ? Accounts Payable ?

Since the Salaries Payable and Accounts Payable are not known, the right option is D. Cannot be determined given the information provided.

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Prepare journal entries to record the following four separate issuances of stock.
hram777 [196]

Explanation:

  • A.

                                                                    Debit            Credit

Cash                                                         $84,000

Common stock                                                                 $70,000

Paid-In Capital in Excess of Par Value                             $14,000

It's necessary to split the equity in two accounts because there is information about the par value

  • B.

Promotion Expenses                                $49,000

Common Stock                                                                  $3,500

Paid-In Capital in Excess of Par Value                             $45,500

It's necessary to split the equity in two accounts because there is information about the par value

  • C

Promotion Expensese                               $49,000

Common Stock                                                                   $49,000

It's not necessary to split the equity in two accounts because there is no information about the par value

  • D.

Cash                                                            $136,500

Preferred Stock                                                                   $87,500

Paid-In Capital in Excess of Par Value                                $49,000

It's necessary to split the equity in two accounts because there is information about the par value

5 0
4 years ago
Sending e-mail marketing messages is typically less costly than sending direct mail marketing messages.
Nesterboy [21]
The answer is B. False
5 0
3 years ago
The client is prescribed an antibiotic for a streptococcal infection and asks the health care practitioner whether the medicine
lisov135 [29]

Answer:

The medicine should be taken with food

Explanation:

Drugs work effectively when taken with food

6 0
3 years ago
Donna recently purchased 500 shares of Deltona stock for $33.00 a share. Her broker required a cash payment of $10,725, plus tra
frozen [14]

Answer:

65 percent

Explanation:

Given that,

Value of investment:

= Shares purchased × Price per share

= 500 × $33

= $16,500

Initial margin = Cash ÷ Investment

                     = $10,725 ÷ $16,500

                     = 0.65 or 65%

Therefore, the initial margin requirement on this particular stock is 65 percent.

8 0
3 years ago
After using market research to identify the target audience for his advertising campaign, jorge will next use this information t
beks73 [17]

Answer:

D. Set explicit and measurable objectives for the campaign.

5 0
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