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
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.

You might be interested in
Which of the following is a difference between customized services and standardized services?
Verizon [17]

Answer:

The correct answer is the letter a. Standardized services are more efficient and cost less than personalized services.

Explanation:

The personalized services are those provided according to the characteristics of each person, that is, we seek to individualize the service to meet customer needs. Standardized services refer to services provided equally to all customers, not seeking individualization. In this respect, standardized services are more efficient and cost less, as the individual cost of service does not change, leading to lower costs as the quantity of services sold increases.

5 0
3 years ago
Good cash management is an essential job of the financial manager. You own a small auto sales business called King Kars. You sto
nikdorinn [45]

Answer:

Explanation:

The answer to the above question is given in the attached document.

4 0
2 years ago
Read 2 more answers
Companies that use a two-tier forecasting system first cluster (or "roll up") several similar services or products in a process
Lera25 [3.4K]

Answer:

The answer is D) aggregation

Explanation:

An aggregate forecast addresses a company's capacity requirements

5 0
2 years ago
A company’s unit costs based on 100000 units are: Variable costs $75 Fixed costs 30 The normal unit sales price per unit is $165
Simora [160]

Answer:

$81,000

Explanation:

The computation of the incremental profit (loss) from accepting the order is shown below:

Contribution per unit = $165 - $75

= $90

Now

Loss on contribution for giving up regular sales  is

= $4,100 × 90

= $369,000

Now Incremental contribution for special order is

= ($135 - $75) × 7,500

= $450,000

So,  

Incremental profit is

= $450,000 - $369,000

= $81,000

3 0
2 years ago
Wendell’s Donut Shoppe is investigating the purchase of a new $40,000 donut-making machine. The new machine would permit the com
Komok [63]

<u>Solution and Explanation:</u>

<u> Answer:1</u> The total annual cash inflows associated with the new machine for capital budgeting purposes is:

=\$ 5200+(2000 * \$ 2.40 \text { per dozen })

=$10000

<u>Answer:2 </u>The internal rate of return promised by the new machine to the nearest whole percent is:

Particulars  Year  Amount ($)

Cash outflow  0  -40000

Cash inflow  1  10000

                2  10000

               3  10000

                4  10000

               5  10000

              6  10000

IRR   13%

=13% using IRR function in excel.

<u>Answer:3</u> IRR=17%

with salvage value

Particulars  Year  Amount ($)

Cash outflow  0  -40000

Cash inflow  1  10000

                 2  10000

                3  10000

               4  10000

                5  10000

              6  22000

IRR   17%

using IRR function in excel.

5 0
3 years ago
Other questions:
  • Spectrum Inc., an automobile manufacturer, is interested in measuring the customer satisfaction of car owners. It decides to col
    12·1 answer
  • The following three separate situations require adjusting journal entries to prepare financial statements as of April 30. For ea
    13·1 answer
  • On january 1 of 2015, parson freight company issues 7%, 10-year bonds with a par value of $2,000,000. the bonds pay interest sem
    7·1 answer
  • 1. Using a plantwide overhead rate based on cases, compute the overhead cost that is assigned to each case of Extra Fine Salsa a
    11·1 answer
  • Required Information
    6·1 answer
  • vProblem 10-4 Partnership Formation (LO 10.2) Elaine's original basis in the Hornbeam Partnership was $40,000. Her share of the
    6·1 answer
  • How important is the value of a product for a customer
    8·2 answers
  • MetLife was able to dramatically expand its global footprint by acquiring Alico, a global player in the insurance business, from
    6·1 answer
  • 3. during the 1980s and 1990s, managing the transportation function in supply chains was recognized as being important but not c
    8·1 answer
  • A good marketing plan helps managers make strategic planning decisions and provides a framework for effective implementation and
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!