Answer:
Oct. 1, investment of $20,000 in real estate business
Dr Cash 20,000
Cr Common Stock 20,000
Oct. 3, office furniture purchased on account
Dr Office furniture 2,300
Cr Accounts payable - office furniture 2,300
Oct. 6, fees charged for real estate services
Dr Accounts receivable 3,600
Cr Fees earned 3,600
Oct 27, partial payment of accounts payable
Dr Accounts payable 850
Cr Cash 850
Oct. 30, salary paid to administrative assistant
Dr Wages and salaries expense $2,500
Cr Cash 2,500
Answer:
Interactive sites where users write about personal topics and comments to a threaded discussion are called <u>Blogs</u>.
Explanation:
Blog is an online system where a writer or sometimes multiple writers describe any particular topic. The users can comment on these writings and conversations can be made. Blogs are an excellent platform to discuss any topics.
Blogs can be of different kinds depending on how a blogger chooses to write. Some types of blogging include a personal blog which is more like a diary of a person, group blogs, and microblogging.
Answer:
sunk cost.
Explanation:
Sunk cost can be defined as a cost or an amount of money that has been spent on something in the past and as such cannot be recovered. Thus, because a sunk cost has been incurred by an individual or organization it can't be recovered and as such it is irrelevant in the decision-making process such as investments, projects etc.
Basically, sunk costs are referred to as fixed costs.
Sunk costs are the opposite of relevant costs because they can't be changed or recovered, as they've been spent or contracted in the past already. Hence, relevant cost are relevant for decision-making purposes but not sunk costs.
Hence, a cost incurred in the past that is not relevant to any current decision is classified as a sunk cost.
For example, ABC investors decide to acquire land and develop residential houses at a location X. This decision is informed on the fact that the government had recently enacted a policy that led to an increase in demand for residential properties in that location. 6 months into construction of the residential houses, the government reviews and rescinds the policy. This leads to a sharp decline in property values in location X. ABC investors had already incurred 10 million dollars in the project. The 10 million dollars is considered sunk cost.
Answer:
$45,100
Explanation:
Cash flows from operating activities:
Net income $48,000
Adjustments to reconcile net cash flows
from operating activities: ($2,900)
+ depreciation expense $3,900
- gain on sale of equipment ($4,500)
- increase in accounts receivable ($4,100)
<u>+ decrease in inventory $1,800 </u>
Net cash flow from operating activities $45,100
the gain on sale of equipment (or any other productive asset) is included in the cash flows from investing activities, that is why they must be decreased from operating activities.
Answer:
Net asset value is $4,104,500 in total and $63.15 per share
Explanation:
Stock Shares Price Total value (Share x Price)
A 13,500 $83 $1,120,500
B 33,000 $16 $528,000
C 20,000 $59 $1,180,000
D 71,000 $21 <u> $1,491,000</u>
Total <u>$4,319,500</u>
Net Asset = $4,319,500 - $215,000 = $4,104,500
NAV = $4,104,500 / 65,000 = $63.15 / share
