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
11111nata11111 [884]
3 years ago
6

The owner of bobcats r us paid his personal mastercard bill using a company check. the correct entry to record the transaction i

s __________.
a. credit cash; debit capital
b. credit cash; debit supplies expense
c. credit cash; debit withdrawals
d. credit cash; debit accounts receivable
Business
2 answers:
Basile [38]3 years ago
8 0
The correct answer is C.
just olya [345]3 years ago
4 0

Answer:

The correct answer is: C

Explanation:

A business owned by one person is known as a sole proprietorship. In such a business, the owner's investment is represented by the value of their capital/equity accounts. Any expenses paid by the business on behalf of the owner, or the owner using cash from the business, are represented in the drawings account. This is not an expense account, rather a contra account for the owner's capital/equity account. It effectively reduces the value of the owner's capital account (at the end of the financial period, this account is closed off /debited against the owner's capital account). To record the drawings from the business, the following journal entry is implemented:

Debit           Drawings/Withdrawals    

         Credit            Cash

You might be interested in
Select all that apply.
Bumek [7]

Answer:

facing the speaker and maintaining eye contact

3 0
2 years ago
Which is the most clear and precise sentence explaining what to do before submitting new content to a webmaster?
Gala2k [10]

Answer:

The correct answer is letter "A": Please consult the Frequently Asked Questions web page before submitting new content to the webmaster.

Explanation:

Webmasters are responsible for the development, coordination, and maintenance of a web site. While sending a message before others submit content to webmasters about information the individuals might also find in the Frequently Asked Questions (FAQ), we should be objective and respectful at all moments. Thus, the phrase:

<em>Please consult the Frequently Asked Questions web page before submitting new content to the webmaster.</em>

<em />

Is the segment that best reflects the guidelines previously stated.

5 0
3 years ago
Stubs-R-Us is a local event ticket broker. Last year, the company sold 750,000 tickets with an average commission of $10. Becaus
jok3333 [9.3K]

Answer:

$6,237,600

Explanation:

The computation of Estimate commission revenues is shown below:-

In the Coming year the market volume = 100% - 20%

= 80%

In the Coming year the number of sales = 100% - 8%

= 92%

In the coming year the Average commission per trade = 100% + 13%

= 113%

Commission revenue = Sold tickets × Average commission × In the Coming year the market volume × In the Coming year the number of sales × In the coming year the Average commission per trade

= 750,000 × $10 × 0.80 × 0.92 × 1.13

= $6,237,600

We applied the same formula to find out the commission revenue earned by the company

7 0
3 years ago
​Martinville, Inc. earned revenues of $ 17,000 and incurred expenses of $ 7,000. The company declared and paid cash dividends of
vladimir1956 [14]

Answer:

$10,000

Explanation:

A company's income is either shared out as dividends or kept in as retained earnings. Therefore, the total of retained earnings and dividend paid out is the net income. This is the amount that will reflect in the income statement. In other words, income is calculated first before dividends or retained earnings are declared.

For ​Martinville, income will be calculated first before dividends are paid. Net income will be

=revenue - expenses

=$17,000 -$7,000

=$10,000

Balance in the Income Summary account was $10,000

4 0
3 years ago
Moyas corporation sells a single product for $20 per unit. last year, the company's sales revenue was $300,000 and its net opera
lianna [129]
Net operating income was $24000
Fixed expenses=$96000
Sales=$300000
cost per unit=$20
unit sales=$15000 units
CM=$120,000
CM per unit=$8
BE units=FC/CM per unit=96000/8=12,000 units
5 0
3 years ago
Read 2 more answers
Other questions:
  • A higher interest rate (discount rate) would:________
    8·1 answer
  • Bob's big burgers n' shakes restaurant brings a suit, seeking a remedy at law. a remedy at law is
    14·1 answer
  • Accessories not installed by the original equipment manufacturer (OEM) can be difficult to diagnose :_________
    10·1 answer
  • Facing stiff competition in the e-reader market, Sumac Industries wants to protect its competitive advantage by increasing the p
    13·1 answer
  • Since the great recession, americans' primary _____ have been rising costs and stagnant income.
    13·1 answer
  • (c)
    8·1 answer
  • How do you actually do this? On there template and save it or make my own template.? So confused.
    7·1 answer
  • On January 1, Year 1, Michael sold a property with a remaining useful life of 20 years to Wei Co. for $800,000. On the same date
    8·1 answer
  • OSHA requires that material safety data sheets be available in printed form at workstations where employees might be exposed to
    12·1 answer
  • A fixed asset with a cost of $30,271 and accumulated depreciation of $27,243.90 is sold for $5,146.07. what is the amount of the
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!