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Katena32 [7]
3 years ago
9

Transactions for the Swifty Company, which provides welding services, for the month of June are presented below. June 1Swifty in

vests $4,250 cash in exchange for shares of common stock in a small welding business. 2Purchases equipment on account for $350. 3$830 cash is paid to landlord for June rent. 12Bills P. Leonard $410 after completing welding work done on account.
Business
1 answer:
Ugo [173]3 years ago
7 0

Answer:

1. June 1 Swifty invests $4,250 cash in exchange for shares of common stock in a small welding business.

2. June 2 Purchases equipment on account for $350.

3. June 3 $830 cash is paid to landlord for June rent.

4. June 12 Bills P. Leonard $410 after completing welding work done on account.

Journal Entries:

1.

June 1              Dr.      Cr.

Investment   $4,250

Cash                          $4,250

2.

June 2              Dr.      Cr.

Equipment     $350

Account Payable       $350

3.

June 3                Dr.        Cr.

Rent Expense   $830

Cash                               $830

4.

June 12                                Dr.        Cr.

P. Leonard (Receivable)     $410

Welding Service Revenue              $410

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A local business woman borrows $14,000.00 at $299.70 per month for 62 months, how much total
eduard
If you multiply $299.70x 62- 14,000months you get = 4,581.4 so yeah
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3 years ago
Suppose the government cuts taxes to keep the economy's cyclically adjusted budget in balance when the economy is expanding. The
lara31 [8.8K]

When the government cuts taxes to keep the economy's cyclically adjusted budget in balance when the economy is expanding. The government is engaging in "neutral fiscal policy".

<h3>What is neutral fiscal policy?</h3>

When a government choice to tax, spend, or borrow has, or is meant to have, no overall impact on the economy, the action is considered fiscally neutral. Changes in policy can be viewed as neutral in terms of either their macroeconomic, microeconomics, or both effects.

fiscal neutrality occurs when taxes and government spending have no net effect-

  • on the overall budget,
  • total demand,
  • economic activity.

To know more about the difference between macroeconomics and microeconomics, here

brainly.com/question/26191496

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7 0
1 year ago
Levenworth Company incurs unnecessary costs each period because of the excess quantities of inventory maintained to meet unexpec
Anon25 [30]

Answer:

The correct answer is C

Explanation:

JIT termed or stand for the Just in Time Inventory, it is a strategy or the plan of action, which is to increase the efficiency and decrease the waste through receiving the goods only as they are required in the process of the production, thereby decreasing the inventory costs.

So, the costs of the obsolescence, inventory financing and storage supervision could be decreased through the practice of the JIT (Just-in-time inventory).

8 0
3 years ago
Piercy, LLC, has identified the following two mutually exclusive projects: Year Cash Flow (A) Cash Flow (B) 0 −$ 68,000 −$ 68,00
den301095 [7]

Answer:

IRR for A= 35.33%

IRR for B = 31.88%

Explanation:

Internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested

IRR can be calculated using a finacial calculator :

IRR for cash flow A

Cash flow in year 0 = −$ 68,000

Cash flow in year 1 = $44,000

Cash flow in year 2 = $38,000

Cash flow in year 3 = $25,000

Cash flow in year 4 = $15,600

IRR = 35.33%

IRR for cash flow A

Cash flow in year 0 = −$ 68,000

Cash flow in year 1 = $30,200

Cash flow in year 2 =  34,200

Cash flow in year 3 = $40,000

Cash flow in year 4 = $24,200

IRR = 31.88%

To find the IRR using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button

7 0
3 years ago
14. in 2018, cities including seattle and san francisco passed laws banning the use of plastic disposable straws because they ar
mr Goodwill [35]

In the above situation, the potential costs that may be derived will be,

  1. Straws made of alternative materials lack the flexibility of plastic straws. This makes it harder for people with disabilities, seniors, and children to use them.
  2. Compostable straws are an alternative to disposable straws. For compostable straws to break down properly they need to be disposed of in a special commercial composter, an infrastructure that needs to be created.
  3. Alternatives to disposable straws do not need fossil fuels to be recycled.

Therefore, the options B, C and D hold true.

<h3>What is the significance of potential costs?</h3>

The potential costs can be referred to or considered as the costs that may have a contingency of being incurred by a producer upon the effects of some external factors.

Therefore, the options B, C and D holds true and states regarding the significance of potential costs.

Learn more about potential costs here:

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The question seems to be incomplete. It has been added below for better reference.

14. In 2018, cities including Seattle and San Francisco passed laws banning the use of plastic disposable straws because they are harmful to the environment (because plastic does not easily biodegrade) and to marine life (which ingest straws that end up in the ocean). Opponents point out that such bans may result in unintended monetary cost as well as external cost.

Which of the following describes potential costs that may arise as a result of these new laws? Select all that apply.

A. Alternatives to plastic straws cost at least 10 times more than the current price of plastic straws.

b. Straws made of alternative materials lack the flexibility of plastic straws. This makes it harder for people with disabilities, seniors, and children to use them.

C. Compostable straws are an alternative to disposable straws. For compostable straws to break down properly they need to be disposed of in a special commercial composter, an infrastructure that needs to be created.

D. Alternatives to disposable straws do not need fossil fuels to be recycled.

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