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jok3333 [9.3K]
3 years ago
15

Following are transactions for Valdez Services, a company owned by Brina Valdez. A. Brina Valdez invested $20,000 cash in the co

mpany In exchange for common stock. B. The company provided services to a client and Immediately received $900 cash. C. The company recelved $10,000 cash from a client in payment for services to be provided next year. D. The company received $3,500 cash from a client in partial payment of accounts receivable. E. The company borrowed $5,000 cash from the bank by signing a note payable. Required: Examine the transactions and identify those that create revenues for Jade Services.Transaction ATransaction BTransaction CTransaction DTransaction EPrepare general Journal entries to record those transactions that created those revenues in the above given order.
Business
1 answer:
Sphinxa [80]3 years ago
3 0

Answer:

Transactions that create revenue :

Transaction B

Transaction C

Transaction D

Journal Entries :

<u><em>Transaction B</em></u>

Cash $900 (debit)

Sales Revenue $900 (credit)

<u><em>Transaction C</em></u>

Cash $10,000 (debit)

Unearned Revenue $10,000 (credit)

<u><em>Transaction D</em></u>

Cash  $3,500 (debit)

Accounts Receivable  $3,500 (credit)

Explanation:

Transactions that create revenue

Hint ; Revenue is the increases in income that results in increases in assets and decreases in liabilities

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Answer:

The return after taxes is 7.9%

Explanation:

At the start of the year the portfolio is valued at $365,000.

At the end, his portfolio has returns by dividends ($3,579), interests ($2,783) and portolio's valuation (389,648-365,000=$24,648).

The tax is applied to the dividends and interests, as:

Tax = 0.35 * (3579+2783) = 0.35*6362 = $2,226.70

We can then calculate the investor's return as

R = profit after taxes / initial portfolio valuation

R = ((3579 + 2783 - 2226.70)+24648)/365000

R= 28,783.30 / 365,000 = 0.079 = 7.9%

5 0
3 years ago
Mr. Rios decided to make a business in his class by selling AP review books for all AP students. His fixed cost to begin the bus
DIA [1.3K]

Answer:

134 books

Explanation:

The breakeven point is the number of units to be sold that will make the total sales equivalent with the total cost, such that the company neither makes a profit nor a loss.

Let the number of units sold to break even be c

5c = 1.25c + 500

5c - 1.25c = 500

3.75c = 500

c = 500/3.75

c = 133.33

≈ 134 books

8 0
3 years ago
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You are the only seller of eggs in town, and the price-elasticity coefficient for eggs is known to be 2. If you want to increase
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Answer:

the seller must lower the price by 12.5%

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3 years ago
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Through a process called _______, marketers collect and evaluate information about the marketing environment.
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Answer:

<em>Through a process called </em><em><u>environmental</u></em><em><u> </u></em><em><u>scanning</u></em><em> marketers collect and evaluate information about the marketing environment.</em>

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2 years ago
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b. File Form 14039, Identity Theft Affidavit, with the IRS.

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<u>Answer:</u>

<u>a. File his 2020 tax return, including the EIP on Form 1040, line 30, and wait for the IRS to fix the mistake.</u>

<u>Explanation:</u>

True. According to the information found on the IRS website concerning those who were eligible but didn't receive the Economic Impact Payment (EIP) during 2020, they are to fill the 2020 Form 1040 alongside submitting their tax returns for the year 2020.

Hence, Larry simply needs to file his 2020 tax return, including the EIP on Form 1040, line 30, and wait for the IRS to fix the mistake.

4 0
2 years ago
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