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Please vote my answer branliest! Thanks.
Answer:
1. Dr Cash $8,290
Cr Common stock $8,290
2. Dr Supplies $980
Cr Cash $390
Cr Accounts payable $590
3. No Entry $0
No Entry $0
Explanation:
Preparation of the entries to record the transactions
1. Based on the information given if he deposited the amount of $8,290 of his own money into this account in exchange for common stock the journal entry will be:
Dr Cash $8,290
Cr Common stock $8,290
(Being To record the investment)
2. Based on the information given in a situation where he Purchased photography supplies at a total cost of the amount of $980 which means that if The business paid the amount of $390 in cash, and the balance is on account the journal entry will be:
Dr Supplies $980
Cr Cash $390
Cr Accounts payable $590
($980-$390)
(Being To record the purchase of supplies)
3. Based on the information given in a situation where he Obtained the estimates on the cost of photography equipment from the three different manufacturers which means that no transaction or entry will be recorded.
No Entry $0
No Entry $0
The original price of the machine is $2,600 but it has a depreciation value now of $1,200.
*original price - depreciation value = machine's existing value*
$2,600 - $1,200 = $1,400
However, they've sold the machine for $2,200 instead of 1,400 (which is supposedly the existing price). So, they've gain $800 ($2,200 deducted by $1,400) out from this transaction.
Answer:
the answer is reaserching
Answer:
$6,750,000
Explanation:
Since it is stated in the question that the 3mn shares will be paid the principal and interest at maturity, and it is not stated the note is compounded, we apply the following simple calculation:
Amount to pay = $4,500,000 + [($4,500,000 × 10%) × 5 years]
= $4,500,000 + [$450,000 × 5 years]
= $4,500,000 + 2,250,000
Amount to pay = $6,750,000
Therefore, the amount should be paid to the stockholders at the end of the fifth year is $6,750,000.
