All categories

3 years ago

Raymond Autobody Shop has the following accounts

Business

1 answer:

Rashid [163]3 years ago

5 0

Answer and Explanation:

The creation of the chart of the account by applying the standard numbering system is presented below:

For the assets it would be started by 100

For the liabilities it would be started by 200

For the owner equity it would be started by 300

For the revenue it would be started by 400

And, for the expenses it would be started by 500

Now the creation is as follows

Balance sheet

Assets Liabilities Stockholder equity

100 Cash 200 Account payable 300 R. capital

110 Automotive supplied 210 unearned revenue 300 R. withdrawal

120 equipment

Income statement

 Revenue Expenses 

  400 service revenue 500 utilities expense

510 advertising expense

You might be interested in

Assume Hadley Co has the following purchases of inventory during the first month of operations Number of Units Cost per unit Fir

Ivanshal [37]

Answer:

Ending inventory cost= $948

Explanation:

Giving the following information:

First Purchase= 310 units for $3 each

Second Purchase= 220 units for $4.9 each

Units sold= 290

First, we need to calculate the weighted average cost:

Weighted average cost= (3 + 4.9)/2= $3.95

Ending inventory (units)= 240 units

Now, ending inventory cost:

Ending inventory cost= 240*3.95= $948

8 0

4 years ago

Why would domino’s and little caesar segment the market for pizza?.

velikii [3]

You made me want to eat pizza lol but I think they would work together and form the best pizza

7 0

3 years ago

Read 2 more answers

Jake nickells crowdsourcing approach to his business initially kept the business finances under control in all of the following

svetlana [45]

Answer:

It eliminated the need for fixed costs.

Explanation:

3 0

3 years ago

Balance sheet and income statement data indicate the following: Bonds payable, 6% (issued 2000, due 2020) $1,200,000 Preferred 8

9966 [12]

Answer:

The correct option is A,5.72 times

Explanation:

The number of times that interest charges gives a sense of how financial stable is in its ability to pay interest on bonds as at when due.It is key consideration for prospective bondholders when assessing whether to buy bonds in a particular company

Number of times interest charges earned=net income before interest/interest

net income before interest charges=net income+interest charges

net income is $340,000

interest charges=$1,200,000*6%=$72,000

net income before interest charges=$340,000+$72,000=$412,000

number of times interest was earned=$412,000/$72,000=5.72

4 0

3 years ago

Explain how the looting of shops and malls will affect businesses in terms of the relationship between social responsibility and

Ulleksa [173]

Social responsibility means an acceptable theory which is applies to everyone, expecting that the act of individual must benefit the whole of society.

Corporate Social Responsibility refers to practices and policies undertaken by firms and other business, who are intending to have a positive influence on the environment and world at large.

Triple bottom line is also a concept that state that in addition to the major objectives of firms which is to make profit, they should ensure they impact the society and environment as well.

The looting of shops and mall will take a toll on the moral effort of firms and businesses adhering to the triple bottom line concept as well as the corporate social responsibility as they have to count on the loss incurred, caused by the masses.

Despite that insurance provision and government can provide compensation for the looted goods, still, the morale of the firms authorities and business owners towards the social responsibility concept and triple bottom line concept will be negative

Learn more about this here brainly.com/question/1341005

5 0

3 years ago