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3 years ago

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)

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In what type of market transaction does the issuing corporation receive cash proceeds?

Artist 52 [7]

Answer:

In the primary market, companies issue new shares to investors in exchange for cash. The proceeds from such an offering are used to fund the business, make acquisitions.

Explanation:

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3 years ago

If Ed Lusk, VP for operations, proceeds with the existing prototype (option a), the firm can expect sales to be 110 comma 000

Reptile [31]

Answer:

Option b has the highest expected monetary value (EMV)

Explanation:

For Option a:

At probability 0.65: At probability 0.35

Units=110,000 Units=65,000

Amount=$580 each Amount=$580

EMV/Total Sales=0.65(110,000*580)+0.35(65,000*580)

EMV/Total Sales=$54,665,000

For Option b:

At probability 0.62: At probability 0.38

Units=85,000 Units=60,000

Amount=$740 each Amount=$740

EMV/Total Sales=0.62(85,000*740)+0.38(60,000*740)

EMV/Total Sales=$55,870,000

So Option B has the highest expected monetary value (EMV).

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3 years ago

The difference between job enrichment and job enlargement is thata.enriched jobs enable an employee to do a number of boring job

zhannawk [14.2K]

<span>c.enriched jobs contain a larger number of similar tasks, while enlarged jobs include some of the planning and control necessary for job accomplishment.</span>

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3 years ago

Schrute Farm Sales buys portable generators for and sells them for He pays a sales commission of 5% of sales revenue to his sal

Maksim231197 [3]

Complete question :

Schrute Farm Sales buys portable generators for $470 and sells them for $740. He pays a sales commission of 5% of sales revenue to his sales staff. Mr. Schrute pays $5,000 a month rent for his store, and also pays $2,200 a month to his staff in addition to the commissions. Mr. Schrute sold 600 generators in June. If Mr. Schrute prepares a contribution margin income statement for the month of June, what would be his contribution margin? O A $444,000 O B. $139,800 O C. $748.200 D. $304 200

Answer:

139,800

Explanation:

Total Revenue = (quantity sold * price) = (600 * $740) = $444,000

Purchase cost = (purchase price * quantity) = (470 * 600) = $282,000

Variable selling cost = 5% of total revenue = (0.05 * 444,000) = $22,200

Total variable cost = (cost of purchase + variable selling price) = $(282,000 + 22,200) = $304,200

Contribution margin = (revenue - variable cost) = (444,000 - 304,000) = $139,800

Therefore, CONTRIBUTION MARGIN = $139,800

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3 years ago

Last year all refuse collected by Shelbyville city services was incinerated. This incineration generated a large quantity of res

Alex17521 [72]

Answer:

The correct option is D

Explanation:

Cutting the number of truckloads of refuse in half must reduce the amount of residual ash by half of last year's level. However, if the removal of the recycled refuse does not proportionately reduce the amount of ash, this will not happen.

So, the answer D states a requirement for the collection program to achieve its aim.

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3 years ago

Read 2 more answers