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murzikaleks [220]
4 years ago
10

On July 1, R. Selleck and M. Monroe formed a partnership to provide legal services to clients. Selleck's investment is $10,000.

Monroe's net investment is also $10,000, but it is comprised of cash ($15,000) and a note payable reflecting a bank loan for the new business ($5,000).
Required:
Record both investments in a single compound journal entry by selecting the account names and dollar amounts from the drop-down menus.
Business
1 answer:
Leni [432]4 years ago
8 0

Answer and Explanation:

The journal entry is shown below:

Cash    Dr $25,000

           To Note payable   $5,000

          To Selleck Cap   $10,000

          To Monroe Cap $10,000

(Being the both investments are recorded)

Here we debited the cash as it increased the assets by $25,000 and credited the notes payable, Selleck, and the Monroe capital as it increased the liabilities and the stock holder equity

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Enrico is having trouble telling the difference between the sound of a tuba and the sound of a piccolo. Even though a piccolo pr
Serggg [28]

Answer:

Pitch

Explanation:

Enrico has trouble differentiating between a tuba's sound and a piccolo's sound. Although a piccolo generates sound waves that are much briefer, quicker than a tuba, he has trouble tracking the variations in the pitch of such sounds.

For music, a note's pitch indicates the note's high or low. It is measured for physics in a Hertz unit. A note that vibrates at 261 Hz is induced by pulsing sound waves at 261 times per second.

3 0
3 years ago
In America, being "normal" is
Stella [2.4K]
Being selfish I guess
7 0
3 years ago
The Weber Company purchased a mining site for $1,750,000 on July 1. The company expects to mine ore for the next 10 years and an
AlladinOne [14]

Answer:

The correct solution is "$26,000".

Explanation:

The given values are:

Cost

= $1,750,000

Salvage value

= $150,000

First Year Extraction

= 6,500

Total Extraction

= 400,000

Now,

⇒ Depletion \ Expense = (Cost - Salvage \ value)\times (\frac{First \ Year \ Extraction}{Total \ extraction} )

On putting the values, we get

⇒                                = (1,750,000 - 150,000)\times (\frac{6,500}{400,000} )

⇒                                = 1,600,000\times 0.01625

⇒                                = 26,000 ($)  

4 0
4 years ago
An income property generates $9,200 per month, and is valued at $985,000. What is its gross rent multiplier
Alborosie

Answer:

107.07

Explanation:

Calculation for What is its gross rent multiplier

Gross rent multiplier= Income Property value/income property generated per month

Let plug in the formula

Gross rent multiplier= $985,000/$9,200 per month

Gross rent multiplier=107.07

Therefore its gross rent multiplier will be 107.07

8 0
3 years ago
What type of tax is import and export?
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The levy imposed on the import and export of products is referred to as custom taxes.

This is a tactic for limiting international trade as well as a defense or support for domestic customs duties. A tariff is a fee a government charges on goods and services imported from another nation in an effort to sway it. If the service is imported, the person or company who utilizes it is responsible for paying service tax. The importer of these services is therefore eligible to claim the tax credit. Contrary to imports, there is no tax on the exports of goods and services, which makes exports the tax-free alternative to imports.

There are two types of tariffs: fixed (a fixed amount per unit of imported products or a certain percentage of the price) and variable (the amount varies according to the price). People are less likely to purchase imported goods as a result of taxes because they become more expensive.

To learn more about custom taxes please click on the given link: brainly.com/question/18332556

#SPJ4

5 0
2 years ago
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