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
sdas [7]
3 years ago
13

Business transactions completed hannah venedict during september are follows. using transactions, record journal entries, create

financial statements, and assess the impact of each transaction on the financial statements. sep. 1 venedict invested $60,000 cash along office equipment valued at $25,000 in exchange for common stock of a new company named hv consulting. sep. 3 the company purchased land valued at $40,000 and a building valued at $160,000. the purchase is paid with $30,000 cash and a long-term note payable for $170,000. sep. 5 the company purchased $2,000 of office supplies on credit. sep. 7 venedict invested her personal automobile in the company in exchange for more common stock. the automobile has a value of $16,500 and is to be used exclusively in the business. sep. 9 the company purchased $5,600 of additional office equipment on credit. sep. 11 the company paid $1,800 cash salary to an assistant. sep. 13 the company provided services to a client and collected $8,000 ca
Business
1 answer:
professor190 [17]3 years ago
6 0

 Cash                         60000

 Office Equipment    25000

To Common Stock                  85000

(Being Cash and equipment introduced in business)

Land                          $40000

Building                    $160000

To Cash                                                  $30000

To Long Term Note Payable                $170000

(Being Land and Building purchased partly by cash and long term note payable)

Office Supplies                      2000

To Accounts Payable                            2000

(Being Office Supplies Purchased on credit)

Automobile                       16500

To Common Shares                            16500

(Being Automobile introduced in lieu of share)

Office Equipment                        $5600

To Accounts Payable                            $5600

(Being Office Equipment Purchased on credit)

Salary                                     $1800

To Cash                                             $1800

(Being Salary Paid in cash)

Cash                                      8000

To Sales                                                8000

(Being Sales made in cash)



You might be interested in
Will feckless unexpectedly inherits $10,000 from a rich uncle. he is observed to consume fewer hamburgers than he used to.
daser333 [38]
<span>This would show that Will does not have a homothetic preference for hamburgers. Such preferences are shown to not be effected by income or scale, and since Will has changed his eating preferences based upon this new source of income, such a description would not fit this good.</span>
3 0
3 years ago
In the russian domain, where does the commercial agricultural products concentrate
notsponge [240]
<span>Belarus and central European Russia had very long growing season, but they had acidic podzol soils that  limit farm output</span><span>.  Three environments influence agriculture in this region</span><span>, Poor soils, cold temps, forests north of Moscow and St. Petersburg.  </span>Soils support commercial wheat, corn, sugar, beets, meat production.
5 0
3 years ago
A project that cost $80000 with a useful life of 5 years is being considered. Straight-line depreciation is being used and salva
mina [271]

Answer:

8.13%

Explanation:

Annual return = [ (Total FV/Initial investment)^(1/n) ] -1

n = useful life of the project

Total Future Value = (22650*5) +5000

Total FV = $118,250

Initial investment = $80,000

Annual return = [ (118,250/80,000)^(1/5) ] -1

r = [ (1.478125^(1/5)] -1

r = 1.0813 - 1

r = 0.0813 or 8.13%

6 0
2 years ago
Omar and Janet are also trying to forecast what their federal and state income taxes will be at the end of the year. If Rings an
Brums [2.3K]

Answer: This was the best answer I could come up with. Its probably wrong but whatever! :P  

They will determine their income taxes based on their positive cash flow of $1,000.00 per month. This is because this cash flow spans across more months than their negative cash flow of -$150.00 per month. Expenses that could be used for their tax deductions is sales tax.

Explanation:

3 0
3 years ago
Read 2 more answers
Consider a single-server queuing system. If the arrival rate is 82 units per hour, and each customer takes 36 seconds on average
Tanzania [10]

Answer:

The average # of customers in the line is 4.

Explanation:

arrival rate, x = 82/3600

                      = 0.023

service rate, y = 1/36

                        = 0.028

utilisation, p = x/y

                    = 0.023/0.028

                    = 0.821

average number of costomers = p^2/[1 - p]

                                                   = (0.821)^2/[1 - 0.821]

                                                   = 3.75

Therefore, The average # of customers in the line is 4.

6 0
3 years ago
Other questions:
  • Suppose the demand for corn increases while at the same time the supply of corn also increases. As a result, the equilibrium pri
    13·1 answer
  • You are the supply chain manager for a small company that makes customized road bicycles. You
    7·1 answer
  • Nate Pride spent five years in an accounting educational program and successfully completed a rigorous accounting examination fi
    7·1 answer
  • Purchased 18-month insurance policy for cash.Prepaid Insurance 2. Paid weekly payroll. 3. Purchased supplies on account. 4. Rece
    9·1 answer
  • The following transactions occurred during March 2016 for the Wainwright Corporation. The company owns and operates a wholesale
    15·1 answer
  • How are profits and losses calculated? What is the difference between economic profit and accounting profit?
    13·1 answer
  • GTYOC Aviation had a profit margin of 8.00%, a total assets turnover of 1.5, and an equity multiplier of 1.0. What was the firm'
    6·1 answer
  • Computer user support is another name for:
    9·2 answers
  • Stacy wants to teach 3rd graders in a public school she just finished her bachelor's degree in education what is he required to
    6·1 answer
  • darden has beginning equity of $286,000, total revenues of $72,000, and total expenses of $34,000. the company has no other tran
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!