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
melomori [17]
3 years ago
14

1. Diane Lexington begins business as a real estate agent with a cash investment of $28,490 in exchange for common stock. 2. Hir

es an administrative assistant. 3. Purchases office furniture for $3,276, on account. 4. Sells a house and lot for N. Fennig; bills N. Fennig $3,600 for realty services performed.5. Pays $850 on the balance related to the transaction of October 3.6. Pays the administrative assistant $2,500 in salary for October.Date Account Titles Ref. Debit CreditOct. 1 2 3 4 5 6
Business
1 answer:
iragen [17]3 years ago
5 0

Answer:

Explanation:

According to the scenario, the following transaction can be put in journal as follows:

Date            Account Titles          Ref.                 Debit ($)        Credit ($)

Oct. 1              Cash                                                          $28,490

                      Common stock                                                                 $28,490

Oct.2               No journal

Oct.3              Office furniture                                          $3,276

                      Accounts payable                                                              $3,276

Oct.4              Account receivable                                   $3,600

                      Revenue on service                                                           $3,600

Oct.5              Accounts payable                                     $850

                      Cash                                                                                    $850

Oct.6              Salary expense                                         $2,500

                      Cash                                                                                    $2,500

You might be interested in
In 1 or 2 sentences, define an externality and explain how the government makes companies take responsibility for negative exter
tamaranim1 [39]

In economics an externality is the cost or benefit that affects someone who did not choose this. It is the true cost of a product that can be both positive or negative. Pollution can be an example of this. An educated labor force producing more is a positive example of this. The government rewards positive externality and punishes negative externality. Rewards can be surpluses and taxes can be punishments.

7 0
3 years ago
The market value of Yeates Corporation’s common stock had become excessively high. The stock was currently selling for $270 per
Pani-rosa [81]

Answer:

b. the number of common shares outstanding is 930,000 and the stock split is $4.

Explanation:

Please see attachment

3 0
3 years ago
It is important to identify and use only incremental cash flows in capital investment decisions:A) because they are the simplest
abruzzese [7]

Answer:

C) because ultimately it is the change in a firm's overall future cash flows that matter.

Explanation:

Under capital budgeting decisions, decisions are made with respect to addressing the questions like what is the benefit of selecting the project and investing on it.

If the answer to above question is raised income, then the project is selected. Accordingly the raised income in cash terms will be measured by increase in cash flows, that is incremental cash flows.

In simplest terms additional cash flows.

8 0
3 years ago
Which of the following statements about annuities are true?
viktelen [127]

Answer:

A)The first cash flow of an annuity due is made on the first day of the agreement.

D)The last cash flow of an ordinary annuity is made on the last day covered by the agreement.

Explanation:

An annuity can be regarded as a series of payments which is made at an stable intervals. It can be classified based on the payment frequency. These could be monthly home mortgage payments,

It should be noted that in annuities,

✓The first cash flow of an annuity due is made on the first day of the agreement.

✓The last cash flow of an ordinary annuity is made on the last day covered by the agreement.

6 0
3 years ago
When something is grown and harvested in the same country it is distributed in, it can be considered what?
Vinvika [58]

Answer:

domestic

Explanation:

In business, domestic refers to the home country of the producer or consumer. The domestic market is the market within the borders of the seller's country.  Domestic contrasts with international, which refers to beyond the borders of a country.

Products that are produced and distributed within the country are domestic products. They are often referred to as local products. Domestic goods become exports if sold outside the borders of their country of origin.

5 0
3 years ago
Other questions:
  • What does a partner in a limited liability partnership have that a limited partner in a limited partnership does not have?
    8·1 answer
  • Has this question helped you in in life!
    10·1 answer
  • In the following example, the proposed debt issue would raise $4,000,000; the interest rate would be 10%. In addition, the EBIT
    7·1 answer
  • What would be the value of the bond described in Part d if, just after it had been issued, the expected inflation rate rose by 3
    7·1 answer
  • How to do a balance sheet?
    9·1 answer
  • Tuscany Company estimated the following costs at the beginning of a particular year: Overhead $5,340,000 Direct labor cost $890,
    8·1 answer
  • The following account balances were taken from the adjusted trial balance for Capstone Messenger Service, a delivery service fir
    15·1 answer
  • Silver Springs Company has an unfunded retiree health care plan. Each of the company's four employees has been with the organiza
    12·1 answer
  • 100 points
    8·2 answers
  • Bonds will be issued a premium if the stated interest rate is:
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!