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Andrej [43]
3 years ago
6

g Required information [The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized

Ernst Consulting; on October 3, the owner contributed $84,780 in assets in exchange for its common stock to launch the business. On October 31, the company’s records show the following items and amounts. Retained earnings, October 1 as $0. Cash $ 8,990 Cash dividends $ 2,830 Accounts receivable 16,540 Consulting revenue 16,540 Office supplies 3,930 Rent expense 4,300 Land 45,980 Salaries expense 7,740 Office equipment 18,660 Telephone expense 850 Accounts payable 9,170 Miscellaneous expenses 670 Common stock 84,780 Using the above information prepare an October income statement for the business.
Business
1 answer:
sweet [91]3 years ago
6 0

Answer:

Please see details below:

Explanation:

Sales  $16.540  

Salaries Expenses  -$7.740

Miscellaneous Expenses -$5.820  

Net Income       $2.980  

Dividends  2.830  

Retained Earnings $150.

Balance Sheets

Assets  

Cash  $8.990  

Accounts Receivable  $16.540  

Equipment  $22.590  

Land  $45.980  

TOTAL ASSETS   $94.100  

Liabilities  

Accounts Payable    $9.170

TOTAL LIABILITIES   9.170  

Equity  

Common Stock   $84.780  

Retained Earnings  $ 150  

TOTAL EQUITY   84.930  

 

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Answer:

The options for answering this question would be the following:

A) higher; lower

B) lower; lower

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The correct answer is: A) higher; lower.

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The price of a bond can be above or below its parity for many reasons, including interest rate adjustments, if the credit rating of the bond has changed, supply and demand, a change in the creditworthiness of the bond issuer , if the bond has been redeemed or if it is likely to be (or not) redeemed, a change in prevailing market interest rates, and an endless number of other factors.

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Some bonds are actively traded, while others may have no activity (there are neither buyers nor sellers  interested) for weeks. As a general category, municipal bonds tend to be more sensitive to supply and demand forces than other fixed income categories. This has the net effect of increasing your market risk: If your bond is not popular with other investors at a time when  you need to sell, the price you will get for the bond in the secondary market will be hit.

5 0
3 years ago
What is institutional advertising focused on promoting
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Answer:

Deflation

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3 years ago
The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of the end of June,
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Answer:

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Direct materials            $ 900            $ 3,300        $ 2,700           6900

Explanation:

<u>Business Solutions</u>

                                          Job 602        Job 603        Job 604

Direct materials                 $ 1,500          $ 3,300        $ 2,700

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Direct materials            $ 900            $ 3,300        $ 2,700           6900

Job 602 total costs are $ 1500 and raw materials costs in May are $ 600. The remaining $ 900 is consumed in June.

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