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Lady_Fox [76]
3 years ago
10

The Ryan Express, provider of tax services, starts operations on 1/1/17. Now that the company has been in business for more than

a year, the controller is assembling financial statements for the year ended 12/31/17. During 2017, the following transactions took place: 1. On January 1, 2017, shareholders paid $1,000,000 in cash for common stock. 2. Ryan Express earned revenue of $500,000 which increased Accounts Receivable (not cash). 3. Ryan Express paid $125,000 in salaries expense. 4. Ryan Express paid $75,000 in rent expense. 5. Ryan Express bought $25,000 of supplies but did not pay cash, so this increased Accounts Payable.6. Ryan Express paid $10,000 in travel expense. 7. Clients paid Ryan Express cash of $400,000 for transaction
Business
1 answer:
DerKrebs [107]3 years ago
4 0

Answer:

cash   1,000,000 debit

           Common Stock     1,000,000 credit

account receivables 500,000 debit

           Accounts payable     500,000 credit

salaries expense   125,000 debit

rent expense          75,000 debit

             cash                         200,000 credit

supplies              25,000 debit

         Accounts payable   25,000 credit

Cash           400,000 debit

  Service revenue    400,000 credit

Explanation:

We reocrd the entries among the joural considering debit = credit

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Determine the (a) working capital, (b) current ratio, and (c) quick ratio. Round ratios to one decimal place.The following data
kramer

Answer:

a. The working capital is $625,000

b. The current ratio is 2.82

c. The quick ratio is 2.08

Explanation:

In order to calculate the working capital first we need to calculate the Current Assets and the Current Liablities as follows:

Current Assets = Cash + Accounts receivable + Inventory + Prepaid Expenses + Temporary investments

= 154,000+210,000+240,000+15,000+350,000

=$969,000

Current Liablities = Accounts payble + Accrued liablities + Income tax payable + Notes payable,short term

= 245000+4000+10000+85000

=$344,000

a. Therefore, working capital = Current Assets - Current liabilities

= 969000 - 344000

= $625,000

b. To calculate the current ratio we have to use the following formula:

current ratio = Current Assets / Current liabilities

=969,000 /344,000

= 2.82

c. To calculate the quick ratio we have to use the following formula:

quick ratio = (Cash + Accounts receivable + Temporary investments ) / Current liabilities

= (154,000+210,000+350,000) / 344,000

= 2.08

7 0
3 years ago
Human resources planning relevant to organizational productivity ​
IgorC [24]

Answer:

Human resources planning is relevant to organizational productivity because it allows a company to maintain and better target the right talent for longevity. It also enables managers to better train and develop the skills needed in the workforce.

Explanation:

Human Resource planning is the foundation of a company's workforce talent. Employees are what make or break a company.

5 0
2 years ago
When the Federal Reserve decreases bank's reserves through an open-market operation: ____________
Sedbober [7]

Answer:

d. the monetary base decreases, loans decrease, and the money supply decreases.

Explanation:

In the case when the federal reserve reduce the reserve of the bank via open market operation so it would be resulted in decrease in the monetary base, reduction in the loan and the reduction in the money supply. Overall, all three things would be decrease

Therefore as per the given situation, the option d is correct

And the same would be  relevant

8 0
2 years ago
In 2018, Sheridan Company had credit sales of $894000. On January 1, 2018, Allowance for Doubtful Accounts had a credit balance
Fantom [35]

Answer:

$37,100

Explanation:

The computation of the adjustment made to Allowance for Doubtful Accounts  is shown below:

= Ending account receivable balance × uncollectible percentage - credit balance of Allowance for Doubtful Accounts + written off amount

= $235,000 × 10% - $22,300 + $35,900

= $23,500 - $22,300 + $35,900

= $37,100

We simply applied the above formula so that the adjustment amount could arrive

4 0
3 years ago
It is said that kone is embedding intelligence across its supply chain and enables smarter buildings. explain.
alexandr402 [8]

KONE started the next stage of its strategy, Sustainable success with consumers, in January 2021. With innovative intelligent solutions, we will increase the value we provide for clients during the four-year strategy term and further integrate sustainability into all of our activities.

Core goods and services: through connectivity and adaptability, they meet the unique demands of each client for a seamless experience. All goods and services shall be made as cost-effective and environmentally friendly as possible.

In order to provide customers with value in new ways, new customer value solutions are being developed and integrated with existing core products and services.

Smart and sustainable cities: become the go-to partner for the construction of smart and sustainable cities.

In this extremely fragmented and fast-growing economy, the service industry in China is becoming the undisputed market leader.

Core values and concepts form the foundation of our culture. We never err on the side of our core values. They consist of sustainability, quality, and safety. The core of our culture is comprised of our values, which stand for the attitudes and actions that KONE wants to encourage.

To learn more about Kone from the given link.

brainly.com/question/27007848

#SPJ4

8 0
1 year ago
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