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ivann1987 [24]
2 years ago
9

The following transactions occur for the Panther Detective Agency during the month of July:

Business
2 answers:
pentagon [3]2 years ago
7 0

Answer:

a.

Dr Equipment $15,000

Cr Notes payable $15,000

b.

Dr Supplies $600

Cr Cash $600

c.

Dr Rent expense $800

Cr Cash $800

Explanation:

Panther Detective Agency Journal entry

a.

Dr Equipment $15,000

Cr Notes payable $15,000

b.

Dr Supplies $600

Cr Cash $600

c.

Dr Rent expense $800

Cr Cash $800

lys-0071 [83]2 years ago
4 0

Answer:

Panther Detective Agency

Journal Entries:

a) Debit Equipment Account $15,000

Credit Notes Payable $15,000

To record purchase of truck with a note.

b) Debit Supplies Account $600

Credit Cash Account $600

To record purchase of office supplies for cash.

c) Debit Rent Expense $800

Credit Cash Account $800

To record payment of rent for the current month.

Explanation:

a) The purchase of a truck increases the Equipment Account and the Notes Payable Account by $15,000.

b) Payment for office supplies reduces the Cash Account and increases the Supplies Account by $600.

c) The payment for rent for the current month increases the Rent Expense Account and reduces the Cash Account by $800.

d) The use of journal entries is to record business transactions as they occur.  It makes it easier to know which account will be credited and which to be debited in the Ledger.

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azamat

Answer:

Any movement which is caused by price will be along the demand curve and any other movement caused by non price factors will shift the demand curve.

1) A decrease in the number of consumers is a non price movement so the demand curve will shift leftwards because of it.

2) A change in taste of consumers making them desire more hot dogs is a non price movement and it will shift the demand curve to the right.

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Explanation:

6 0
2 years ago
The economic definition of money​ is:_________
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Answer:

The correct answer is option A.

Explanation:

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5 0
3 years ago
Ada signed a simple discount promissory note for $5,500. the discount rate is 12%, and the term of the note is 5 months. what ar
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<span>Given that, Promissory note A = 5,500 Discount rate i = 12% i = 12/100 Term n= 5 months we know that, 1 year = 12 months 5 months= 5/12 So we get, A = 5,500 i = 12/100 n= 5/12 To find the ada's proceeds on the loan formula is, Proceeds=A(1+i)^n ........... (1) Put the value of A,i,n in equ (1) Proceeds=5500(1+12/100)^5/12 =5500(1+0.12)^0.417 =5500(1.12)^0.41667 =5500(1.04835) Proceeds=5765.94 Therefore $5765.94 Proceeds on the loan</span>
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3 years ago
Anthony Finley wishes to become a millionaire. His money market fund has a balance of $287,270 and has a guaranteed interest rat
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Answer:

15 years

Explanation:

The target accumulated future amount is the future value of the initial investment(present value), hence, using the future value formula provided below we can determine the investment time horizon in years required to accumulate the target amount:

FV=PV*(1+r)^n

FV=$1,200,000

PV=$287,270

r=10%

n=investment period in years=unknown

$1,200,000=$287,270*(1+10%)^n

$1,200,000/$287,270=(1+10%)^n

$1,200,000/$287,270=(1.10)^n

take log of both sides

ln($1,200,000/$287,270)=n ln(1.10)

n=ln($1,200,000/$287,270)/ln(1.10)

n=15.00years

4 0
2 years ago
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The introduction of intermediaries helps in minimizing the asymmetric information gap by becoming experts.

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