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
Ronch [10]
3 years ago
8

Transactions for Sheridan Company for the month of June are presented below.

Business
1 answer:
kobusy [5.1K]3 years ago
6 0

Answer:

The journal entries are as follows:

(i) On June 1,

Cash A/c Dr. $5,890

    To Owner's capital $5,890

(To record the issue of common stock)

(ii) On June 2,

Equipment A/c Dr. $1,240

       To Accounts payable  $1,240

(To record the purchase of equipment on account)

(iii) On June 3,

Rent Expense A/c Dr. $670

         To cash                      $670

(To record the payment of rent)

(iv) On June 12,

Account receivable A/c Dr. $880

          To service revenue            $880

(To record the service provided on account)

You might be interested in
Land originally purchased for $28,390 is sold for $74,057 in cash. What is the effect of the sale on the accounting equation
Elodia [21]

There is no effect on the accounting equation.

<h3>What is accounting equation?</h3>

Accounting equation is the one which states that a company's total assets are equal to the sum of its liabilities and its shareholders' equity.

Assets = owner's equity + liability

The above means that land is not depreciated, therefore assets decrease (-land) but also increase (+cash).

The elements of accounting equation are :

  • Assets
  • Liabilities
  • Shareholders' equity.

Learn more about account equation here: brainly.com/question/24401217

8 0
2 years ago
Parkway Company incurred $126,000 in material costs during July. Additionally, the 12,000 units in the Work-in-Process Inventory
IRINA_888 [86]

Answer:

$ 13.167 / unit

Explanation:

Data provided:

Beginning material cost = $ 126,000

Number of units in work in progress = 12,000 units

Material cost assigned = $ 32,000

thus,

the total material cost involved = $ 126,000 + $ 32,000 = $ 158,000

Now,

the material cost per equivalent unit = Total material cost involved / number of units

on substituting the values, we have

the material cost per equivalent unit = $ 158,000 / 12,000

or

= $ 13.167 / unit

7 0
3 years ago
Foreign investors assess not only the interest rate offered on financial securities but also (check all that apply):
Greeley [361]

Answer:

their total wealth

-their future expenditure needs

-the risk on the security

Explanation:

Financial System

This simply are markets and various financial units or intermediaries that help transfer financial assets, real assets, and financial risks in various forms from one person to another, from one place to another, and from one point to another

3 Main functions of the Financial System

1.) The achievement of the purposes for which people use the financial system

2.) The discovery of the rates of return that equate aggregate savings with aggregate borrowings

3.) The allocation of capital to the best uses

An investment

This is simply defined as the current commitment of current resources in the hope of getting greater resources in the future. It reduces current consumption in hopes of greater future consumptions. When making investment, different actions are considered before decision making.

7 0
3 years ago
Baby Goods Inc. buys Child Shops Inc. in an attempt to gain monopoly power. Remedies that a court might impose in a suit against
zhuklara [117]

Based on the information given regarding the monopoly power, the remedy by the court will be<u> divesting itself of the control or ownership of</u><u> Child Shops</u>.

It should be noted that antitrust laws are put in place in order to protect consumers from business practices that are predatory and also ensure fair competition.

Since antitrust laws recommend the breaking of certain business conducts, there'll be the divesting of the company of the control or ownership of Child Shops.

Learn more about monopoly on:

brainly.com/question/13113415

6 0
3 years ago
What policy of gorbachev's called on the soviet people to openly discuss or criticize the soviet government and economy and ulti
Gennadij [26K]

A series of political and economic changes known as perestroika, or "restructuring" in Russian, were implemented to revitalize the Soviet Union's sluggish economy in the 1980s. President Mikhail Gorbachev, who designed it, would preside over the nation's most significant political and economic reforms since the Russian Revolution. But the Soviet Union's dissolution in 1991 was largely caused by the suddenness of these reforms, which were accompanied with rising instability both inside and beyond the Soviet Union.

What was the policy of Gorbachev's on Social and political topics?

The Soviet Union's policy of free discourse on social and political topics was known as glasnost (Russian for "openness"). The Soviet Union started to become democratic after Mikhail Gorbachev implemented it in the late 1980s. In the end, the Soviet Union's political system underwent substantial changes: the Communist Party's influence was diminished, and multi-candidate elections were held. Additionally, Glasnost allowed media outlets to more freely disseminate news and information and tolerated criticism of government authorities.

To know more about policy of gorbachev's visit: brainly.com/question/3929652?  

#SPJ4

3 0
1 year ago
Other questions:
  • A CPA can accept a gift from a client as long as:
    10·1 answer
  • "A market maker that compensates a retail member firm for sending its customer orders to that market maker is:"
    15·1 answer
  • Wich of the following types of advertising is likely to be the most affordable
    7·2 answers
  • Harvey Corporation is studying a project that would have a ten-year life and would require a $450,000 investment in equipment wh
    12·1 answer
  • Ads sent via email must be designated as advertisements.<br> 1. True<br> 3. False
    10·1 answer
  • Human beings are complex, and few, if any, simple and universal principles explain organizational behavior. Nevertheless, it doe
    11·1 answer
  • Currently, Warren Industries can sell 20 dash year​, ​$1 comma 000​-par-value bonds paying annual interest at a 9​% coupon rate.
    11·1 answer
  • The need to understand the different consumer tastes in segmented regional markets and respond to different national standards a
    5·1 answer
  • What is plan and goal?​
    8·1 answer
  • industrialized nations have become societies and emploers used diplomas and detrees to determine who is elegible for jobs
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!