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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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At January 1, 2018, Transit Developments owed First City Bank Group $600,000, under an 11% note with three years remaining to ma
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Answer:

interest payable   66,000

note payable      384,000

       Land                            325,000

       Gain on disposal         125,000

Explanation:

600,000 x 11% = 66,000 interest payable

the land is being used to settle the note along with the accrued interest at the time:

the accounting  of Transit developments record the land at cost: 325,000

as the market valuye is 450,000 so a gain for 125,000 will be recognize.

450,000 market value - 66,000 interest payable: 384,000 payment on the note principal

the entry will write-off the interest payable, decrease the note by that amount and recognize the land gain on disposal

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3 years ago
Personal values and work values cannot be related true or false​
morpeh [17]

Answer:

false, these two can be related

Explanation:

false

7 0
3 years ago
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Identify the true statement in each of the three modules. Identify the true statement. Deregulation can describe removing govern
Maksim231197 [3]

Answer:

Deregulation can describe either removing government control of the price of a good or the removal of government control of quantities.

Explanation:

Deregulation is the removal of government control , regulation or power in a particular sector or industry. An example of deregulation is the mail delivery. The government had a monopoly on the royal mail for many years

Deregulation can involve :

  • removal of government control on price
  • Removal of control on quantities

Advantages of deregulation

  1. It increases the rate of innovation and competition. This increases consumer choice.
  2. Efficiency of corporations are increased and this lowers cost

Disadvantages of deregulation  

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A print ad usually includes which two things?
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Answer:

A. Images and text

Explanation:

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A predominant, and often conservative, view of the world economic system today holds that the free market is the ideal mechanism
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Laissez-Faire Economics?

It's an economic system where the free market exists without government intervention.
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