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
sp2606 [1]
4 years ago
12

The following transactions occurred during March, the first month of operations for Quality Galleries, Inc. * Capital Stock was

issued in exchange for $360,000 cash. * Purchased $180,000 of equipment by making a $60,000 cash down payment and signing a note payable for the balance. * Made a $35,000 cash payment on the note payable from the purchase of equipment. * Sold a piece of equipment for cash of $18,000. The equipment was sold at cost, so there is no gain or loss on the sale. What are total assets of Quality Galleries at the end of March
Business
1 answer:
Valentin [98]4 years ago
6 0

Answer:

$445,000

Explanation:

Calculation for the total assets of Quality Galleries at the end of March

First step is to find the balance in the Cash account at the end of March

Cash account balance =$360,000 - $60,000 - $35,000 + $18,000

Cash account balance = $283,000

Now that we have know the Cash account balance the Second step is to calculate for total assets at the end of March

Total assets = $283,000+ $180,000 - $18,000

Total assets = $445,000

Therefore the total assets of Quality Galleries at the end of March will be $445,000

You might be interested in
Kevin is an agent for Lookout Mountain Accountants, Inc. On Lookout Mountain's behalf and at its request, Kevin pays Nathan for
Arada [10]

Answer:

(d) Reimbursement

Explanation:

A  reimbursement is a repayment  for cash you've just spent. At the point when you travel for work, you get a repayment for your business related costs, similar to inn bills and boarding passes, however you'll need to pay for that outing to the bazaar yourself.

The cost repayment process enables bosses to take care of workers who have gone through their own cash for business-related costs. At the point when representatives get a cost repayment, commonly they won't be required to report such installments as wages or pay

4 0
3 years ago
Mountain gear has been using the same machines to make its name brand clothing for the last five years A cost efficiency consult
IgorC [24]

Answer:a. The company will be $11,000 better off over the 5 year period if it replaces the old machine.

Explanation:

The purchase of the new machine will bring the annual operating expenses to $9,000 compared to the $15,000 been spent on the old machine which brings in a savings of $6000 and when this is added to the $ 5000 increase sales revenue from the new machine, it means the company will be better off by $11,000 over the next five year if it replaces the old machine.

There is no justification for being $12,000, $20,000 or $6000 better off over the next five year by either replacing or keeping the old machine.

5 0
3 years ago
'13.4. A company ships a particular product to a market located 1500 miles from the plant at a cost of $4.50 per mile. Normally
Vsevolod [243]

Answer: $13.50

Explanation:

The following information can.be deduced from the question:

Distance covered = 1500 miles

Cost per mile = $ 4.50

We need to calculate the total cost of the transportation first. This will be:

= 1500 x $4.50

= $6750

We are further told that it normally ships 500 units at a time.

Therefore, tge line haul cost per unit will be:

= $6750/500 = $13.50

7 0
3 years ago
When reheating left over food that has been in cold storage what do you do?
jeka94
You locate a microwave, oven, or stove to properly heat your food.

Microwave- Put food in a container and put a top or something over it ( to not make a mess). Warm it up as minutes you would like.

Oven- the oven usually does a great job of cooking or recooking your good but it takes longer. Place food in a pan ( not plastic) and turn the oven on to the temperature you desire to cook. Check every few minutes till food is done cookig.

Stove- Be very careful using a stove because it often has more accidents and you can easily be burned. For a stove put your food in a sauce pan or pot and turn the stove on as hot as you would like ( it will turn red, never touch!). Once food has cooked as long as you like you may eat.

( sometimes if food is to frozen it may need to thaw out)

please vote my answer branliest! Thanks.
7 0
3 years ago
Northern Lights Electronics just completed plans to distribute its new tablet. The product has several unique features that diff
Tamiku [17]

Answer:

The correct answer is exclusive distribution; selective distribution; intensive distribution.

Explanation:

The exclusive distribution, as its name implies, consists of offering the product or service to a single marketer in order to generate impact at that point of sale; selective distribution corresponds to the sale of the product to a reduced number of marketers in order to start opening the market and offer the product in other areas; and intensive distribution consists of offering the product to a large number of distributors, seeking to expand the business to new places.

6 0
3 years ago
Other questions:
  • Thomas is a copy machine technician for State Office Systems. He was involved in a serious car accident while making a service c
    9·1 answer
  • Phionia Phelps has developed a gourmet cat food. Not only is this food eagerly eaten by the most finicky felines, but it is spec
    12·1 answer
  • A big crowd is watching a football game. Suddenly, everyone jumps to their feet and starts cheering. The home team scored a touc
    8·1 answer
  • Janes Company provided the following information on intangible assets: A patent was purchased from the Lou Company for $1,100,00
    7·1 answer
  • A study conducted by Yahoo! revealed that chocolate is the most popular flavor of ice cream in America. Now, Suppose a severe dr
    15·1 answer
  • A regional airline owns 10 aircraft and employs 20 pilots. The airline makes an average of three trips per day with each of its
    6·1 answer
  • 1. Calculate the Net Worth when Liabilities are $5,000 and Assets are $6,725​
    14·1 answer
  • Aneta sold an apartment building for $713,470 in 2019. She purchased the building in 2013 for $600,000 and has taken $151,806 in
    14·1 answer
  • Calculate the one and two-year zero rate from the following information. Face value Current price Coupon Maturity 100 95 0 1 yea
    14·1 answer
  • At August 31, Oriole Company has a cash balance per books of $9,900 and the following additional data from the bank statement: c
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!