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
There are several compelling arguments against job discrimination of any kind. utilitarians reject discrimination because
Vanyuwa [196]
<span>Discrimination that is not consciously or deliberately sought, but it brought about by stereotypes or as an unintended outcome.</span>
6 0
4 years ago
Suppose all firms follow similar financing policies, face similar risks, have equal access to capital, and operate in competitiv
sleet_krkn [62]
The answer is false!
6 0
3 years ago
Read 2 more answers
A $ 5000 bond with a coupon rate of 6.7​% paid semiannually has eight years to maturity and a yield to maturity of 7.8​%. If int
prohojiy [21]

Answer:

As a result of an increase in the YTM, the price of the bond will fall $4677.19 from to $4593.67

Explanation:

The bonds are valued or priced based on the present value of annuity of interest payments and the present value of the principal. Based on the YTM of 7.8% the bonds are priced at,

coupon payment = 5000 * 0.067 *1/2  =  $167.5

Semiannual YTM = 7.8 *0.5  =  3.9%

Semi annual periods to maturity = 8 * 2  =  16 periods

Old Price = 167.5 * [( 1 - (1 + 0.039)^-16  + 5000 / (1+0.039)^16

Old Price = $4677.19

New semiannual YTM = 8.1% / 2  =  4.05%

New Price = 167.5 * [( 1 - (1+0.0405)^-16) / 0.0405] + 5000 / 1.0405^16

New Price = $4593.67

7 0
3 years ago
For each market listed below, determine whether it is best characterized as a Cournot oligopoly, Stackelberg oligopoly, or Bertr
Semenov [28]

Answer: A. Cournot Oligopoly B. Stackelberg Oligopoly C. Bertrand Oligopoly

Explanation:

Cournot Model: In Cournot model, firms produce output independently and then set their prices. In this type of model, the products are typically standardized.

Stackelberg Model: In Stackelberg model, there is one firm who is quite dominant and that firm sets the price. Whereas, other firms or the competing lower firms usually follow the price leader.

Bertrand Model: In this model, firms have interaction with buyers in order to set prices and quantities.

3 0
3 years ago
McGraw purchased an antique rocking chair from Tillis by check. The check was dishonored by the bank due to insufficient funds.
LekaFEV [45]

Answer:

Option C is the correct option.

Explanation:

As the rights and obligation of the antique rocking chair are been passed to third party, so the damage caused by the checque been bounced is the monetry consideration agreed between the party to the contract, McGraw and Tellis. So Tellis may recover money damages from McGraw. However there is a special condition that can allow Tellis recover his asset from Rio if the third party knew before purchase of this asset, that the checque paid to Tellis by McGraw was dishonoured but still he contracted with McGraw to acquire the antique rocking chair.

Overall the option C is the correct option with which the case scenario relates.

3 0
3 years ago
Other questions:
  • Company XYZ is looking for a Finance/Accounting intern. The student filling this position will handle a wide range of important
    15·1 answer
  • What were the economic changes that revolutionized manufacturing in the eighteenth century and led to the factory system?
    7·1 answer
  • Assuming a country's economy maintains an 8% rate of growth, young adults starting at age 20 would see the average standard of l
    8·1 answer
  • On January 1, 2020, the Sheridan Company budget committee has reached agreement on the following data for the 6 months ending Ju
    8·1 answer
  • Ms. Crocker bought 1,000 shares of EMO Corporation stock for $10,000 on January 20, 2017. On December 28, 2018 she sold all 1,00
    10·1 answer
  • _______ is a political strategy for managers to exercise power unobtrusively. Controlling uncertainty Being irreplaceable Genera
    7·1 answer
  • An example of a type II error in quality control would be:counting a student s True/False response as incorrect when it is actua
    7·2 answers
  • Bateman Corporation sold an office building that it used in its business for $800,200. Bateman bought the building 10 years ago
    14·1 answer
  • 4. The following is Arkadia Corporation's contribution format income statement for last month: Sales $1,200,000 Variable expense
    15·1 answer
  • the bargaining power of suppliers is enhanced under which following market condition? group of answer choices low differentiatio
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!