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
umka2103 [35]
3 years ago
8

Wagner & Sons, Inc. perform property appraisals for commercial real estate transactions. The following transactions were com

pleted in July 2013. July 1 Purchased $345 in office supplies on account. July 2 Wrote a check for a $700 utility bill for the current month. July 3 Paid $875 in salaries to employees for the current month. July 8 Received $4,015 on customer accounts for bills sent in prior month. July 12 Conducted five appraisals and invoiced SLL Commercial Real Estate, Inc. for $11,000. Prepare journal entries using the transaction analysis above. If no journal entry is required, indicate that in the account description. The company has the following Chart of Accounts: Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, Notes Payable, Common Stock, Retained Earnings, Service Revenue, Rent Expense, Furniture, Prepaid Insurance, Advertising Expense,Unearned Revenue, Wages Expense, Interest Expense, Utilities Expense, Salaries Expense -OR- "No journal entry needed"
Business
1 answer:
crimeas [40]3 years ago
8 0

Answer:

Date   Account Title                  Debit     Credit

1-Jul    Supplies                           $345

                Accounts Payable                   $345

2-Jul   Utilities expense               $700

                 Cash                                        $700  

3-Jul    Salaries expense             $875

                 Cash                                         $875

8-Jul     Cash                               $4,015

                  Accounts Receivable            $4,015

12-Jul    Accounts Receivable   $11,000

                   Revenue earned                   $11,000

You might be interested in
Information-based industries are most susceptible to which one of Porter’s five forces?
nasty-shy [4]
The right answer for the question that is being asked and shown above is that: "a. rivalry among existing firms in an industry" Information-based industries are most susceptible to one of Porter’s five forces which is the a. rivalry among existing firms in an industry

7 0
3 years ago
Opinion: You have an opportunity to attend a four-year college for free. However, you are required to major in a career area tha
juin [17]

Answer:

I would go ahead and avail this opportunity. Although it is a wide spread phenomenon that one should only acquire a degree in a field which is at a boom and is possibly going to be successful in the future. But times keep changing. Fields and phenomenon which did not have a chance in the past have now become most successful with unfulfilled potential.

On the other hand, acquiring college education is a luxury. 4 years without paying for it is a chance that nobody should miss. You can come up with creative ideas to make that degree work. Besides, people do not actually get the jobs according to their degrees. So there is a possibility that I would land a job.

7 0
3 years ago
In a macroeconomic context, choose the best definition for the term velocity. The rate at which the aggregate price level increa
N76 [4]

Answer:

The rate at which money circulates through an economy.

Explanation:

In Macroeconomics, the term velocity refers to the speed at which money circulates in an economy, and it is a variable in a fundamental macroeconomic equation, the quantity theory of money equation:

M x V = P x T

Which states that the price of goods and services is equal to the amount of money in an economy, or its money supply (M) multiplied by the Velocity of circulation of money, which is in turn equal to price (P) multiplied by the number of transactions (T).

7 0
3 years ago
Believing that you can accomplish something is an example of which stress reducing asset? A) boundaries. B) empowerment. C) posi
Eduardwww [97]

I will choose letter c. positive values.  When you believe that you can do something that you feel positive about yourself and you are capable of doing it.  When you believe it can happen then you feel good about yourself and it greatly relieves stress.

3 0
3 years ago
Read 2 more answers
During 2018, Hardy Merchandising Company purchased $19,000 of inventory on account. Hardy sold inventory on account that cost $1
choli [55]

Answer:

a-

[Find solution in the attachment]

a- 2)

Balance of accounts receivable at the end of 2018 = $2,400

Solution b:

Balance of accounts payable at the end of 2018 = $7,100

Solution c:

Gross margin = Sales - COGS = $21,400 - $14,300 = $7,100

Net Income = Gross margin - Operating expenses = $7,100 - $3,900 = $3,200

Solution d:

Cash flow from operating activities = Cash received from customer - Cash paid for accounts payable - Cash paid for operating expenses = $19,000 - $11,900 - $3,900 = $3,200

3 0
3 years ago
Other questions:
  • Suppose that at a price of $8, 13,600 units were sold while at a price of $6, 15,200 units were sold. Without calculating the va
    12·2 answers
  • Discount factor is 0.985. Stock XYZ is selling for $40 a share. An American option on this stock with a strike price of $38 is t
    5·1 answer
  • A budget should include a balance sheet and a(n)
    13·2 answers
  • A(n) ____________________________ exists to promote the sales of a particular manufacturer’s products.
    14·2 answers
  • The value of the goods and services Australia purchases from the U.S. are less than the value of goods and services the U.S. pur
    8·1 answer
  • Which of the following statements accurately describes the statement of cash flows?A) It is the link between net income and earn
    9·1 answer
  • Suppose Nike, Inc. reported the following plant assets and intangible assets for the year ended May 31, 2022 (in millions): othe
    7·1 answer
  • How does the Hockey Stick of Human Prosperity demonstrate changes to economies? Include at least two
    10·1 answer
  • Kate was responsible for hiring a fireworks company to put on a show at the end of the local college team's homecoming game. Whe
    13·1 answer
  • a corporation reported cash of $14,000 and total assets of $178,300 on its balance sheet. its common-size percent for cash equal
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!