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LuckyWell [14K]
3 years ago
14

This information relates to Hanshew Real Estate Agency.

Business
1 answer:
Molodets [167]3 years ago
3 0

Answer and Explanation:

a. The Journal entry is shown below:-

1. Cash Dr, $35,000

      To common stock $35,000

(Being received cash in exchange of common stock is recorded)

2. No Journal entry is required

3. Equipment Dr, $3,500

      To Accounts payable $3,500

(Being equipment is recorded)

4. Accounts receivable Dr, $10,000

    To service revenue $10,000

(Being service revenue is recorded)

5. Cash Dr, $140

     To Service revenue $140

(Being Cash is recorded)

6. Accounts payable Dr, $700

       To Cash $700

(Being accounts payable is recorded)

7. Salaries and wages expenses Dr, $3,000

      To Cash $3,000

(Being Salaries and wages expenses is recorded)

b. The transaction of T accounts is shown below:-

                          Cash

Oct 1       $35,000        Oct 27     $700

Oct 10     $140               Oct 30     $3,000

Oct 31      $31,440

                        Accounts receivable

Oct 6        $10,000

Oct 31       $10,000

                           Equipment

Oct 3         $3,500

Oct 31        $3,500

                        Accounts payable

Oct 27       $700                Oct 3     $3,500

                                          Oct 31     $2,800

                       Common stock

                                          Oct 1      $35,000

                                          Oct 31     $35,000

                           Service revenue

                                         Oct 6       $10,000

                                         Oct 10      $140

                                         Oct 31       $10,140

                           Salaries and wages revenue

Oct 30     $3,000

Oct 31      $3,000

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Discuss the different situations when the communication exists ​
ddd [48]

Answer:

Communication in Different situations.

1. Communications in different situations Chapter 8

2. The different kind ofcommunication skill is required as per the situation and the functions of the organizations.Communication takes on different characteristics as the situation changes Chapter 8

3. Oral Communication Situations Face-to face InterviewCommunication Telephone

4 0
2 years ago
January 1, 2016, Kendall Inc. began construction of an automated cattle feeder system. The system was finished and ready for use
tankabanditka [31]

Answer:

Interest capitalized for 2017 = $86,805

Explanation:

As per the data given in the question,

Average expenditure for 2016 = ($200,000×12÷12) +($300,000×4÷12)+($300,000×0÷12)

=$300,000

Interest capitalized for 2016 =($200,000×12÷12)+($300,000×4÷12)+($300,000×0÷12)×12%

= $36,000

Average expenditure for 2017 :

Accumulated expenditure in 2016 = ($200,000+$300,000+$300,000 +$36,000)×9÷9

= $836,000

For March-31,2017 = $300,000×6÷9

= $200,000

For Sept-30,2017 = $200,000×0÷9 = $0

Average expenditure for 2017 = $836,000 + $200,000 + $0

= $1,036,000

Interest capitalized for 2017 :

Specific borrowing = $750,000×9÷12×12%

= $67,500

Excessive amount = ($1,036,000 - $750,000)×9÷12×9%

= $19,305

Interest capitalized for 2017 = $67,500 + $19,305

= $86,805

4 0
3 years ago
Cullumber Company incurred research and development costs of $101000 and legal fees of $41000 to acquire a patent. The patent ha
MArishka [77]

Answer:

$14,200

Explanation:

<em>Step 1 Determine the Cost of the Patent </em>

Research and Development costs        $101000

<em>Add</em> legal fees                                         $41000

Total                                                         $142,000

<em>Step 2 Determine Amortization Expense </em>

Amortization Expense = Cost/ Useful life

                                     = $142,000/10 years

                                     = $14,200

4 0
3 years ago
On October 1, 2017, Sharp Company (based in Denver, Colorado) entered into a forward contract to sell 330,000 rubles in four mon
Yuliya22 [10]

Solution:

Date             Account tides           Debit (S in ruble)      Credit (S in ruble)

                 and Explanation

Oct 1        Accounts receivable             96,600

                    Sales

          ( 210,000 ruble x $0.46)                                       96,600

Dec 31     Accounts receivable

           ( 50.49-50.46) x (210,000 ruble)   6,300

             Foreign Exchange gain                                       6,300

          Loss on forward contract            2079,21

                   Forward Contract

     (50.52-50.51) x 210,000 ruble =2,100

             2,100 x 0.9901= $2079.21                                2079.21

Jan31        Accounts receivable (LC U)       4,200

                   Foreign exchange gain

            (50.51-50.49) x 210,000 ruble                               4200

                     Foreign currency                 107,100

                 Accounts receivable

           (596.600-56,300-54,200)                                   107,100

                          Cash                              107,100

               Foreign cuuency (LCU)

                ($0.51 x210.000 ruble)                                      107,100  

6 0
3 years ago
​target's donation of​ 5% of its annual income to community support is an example of​ ________.
Sedaia [141]

​Target's donation of​ 5% of its annual income to community support is an example of​ social responsibility.

Social responsibility is a theory that involves ethics and fulfilling civic duty. When target makes these donations, they are benefiting the society as a whole and balancing growth with welfare of the society.

4 0
3 years ago
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