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slega [8]
3 years ago
14

The following transactions occur for Badger Biking Company during the month of June:

Business
1 answer:
Sladkaya [172]3 years ago
8 0

Answer:

Assets                                                 = Liabilities         + Stockholders' equity

Accounts receivable $31,000(+)                                    Revenue  $31,000(+)

Cash                            $23000 (+)

Accounts receivable $23,000(-)

Bike  equipment        $16,000(+)     notes payable $16,000(+)

Cash                           $3,100(-)                               retained earnings$3,100(-)

Explanation:

The first transaction increases assets (accounts receivable) by $31000 while revenue (stockholders' equity) increased by the same amount

The cash receipt of $23,000 increases asset cash by $23,000 and decreases an asset, accounts receivable by the same amount.

The purchase of an asset by notes payable increases asset, bike equipment by $16,000, while liabilities(notes payable) also increases by $16,000

The payment of utilities for $3,100 decreases asset (cash) by $3,100 while stockholders equity (retained earnings) decreases by same amount.

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The answer is C. Stratified random sampling is a method of sampling that involves the division of a population into smaller sub-groups known as strata. In stratified random sampling or stratification, the strata are formed based on members' shared attributes or characteristics such as income or educational attainment. Since the students are divided into classes, this is a stratified random sample.
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3 years ago
When a company sells multiple products, an increase in total sales always results in an increase in total profits.
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Hindsight is a wonderful thing in any business, or in life in general. We could make the best business decisions and maximise earnings if we had access to a crystal ball that could tell us exactly how many people would buy our goods.

<h3>What Is Cost-Volume-Profit (CVP) Analysis?</h3>

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5 0
2 years ago
The role of the 12 Federal Reserve banks is to:
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Answer: D - Enforce federal rules on member banks

Explanation:

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4 0
3 years ago
Read 2 more answers
On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 60 million, $1.00 par, common shares, t
Verizon [17]

Answer:

1. Dr Stock dividends $60 million

Cr Common stock $60 million

2. $1

Explanation:

Preparation of the journal entry that summarizes the declaration and distribution of the stock split

Journal Entries for Siewert Inc

(In millions)

1. Based on the information given we were told that On June 13, the board of directors of the company declared a 2-for-1 stock split on its 60 million which means that the Journal entry will be recorded as :

Dr Stock dividends $60 million

Cr Common stock $60 million

(To record issue of stock dividend)

2. The Par value per share after split =$1 reason been that split are often in form of stock dividend.

8 0
3 years ago
Michael (single) purchased his home on July 1, 2009. He lived in the home as his principal residence until July 1, 2017 when he
Nadya [2.5K]

Answer:

correct option is C. $250,000

Explanation:

given data

sold the home and gain = $300,000

to find out

amount of the gain allowed to exclude from gross income

solution

we know that Michael owned the property for the 10 years

so here Michael is not allowed to exclude the gain = 10 % that is $30,000

and The maximum gain exclusion permitted =  $250000

so here Michael will recognize $50,000 because amount exceed $250,000 for a single taxpayer and exclusion of gain on sales of property tax payer need to own and occupy the property as principle residence for the  2 out of 5 year immediately preceding the sales

so here correct option is C. $250,000

5 0
3 years ago
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