A fad is a product that is popular for an extended period of time.

Three partners are investing a total of 250,000 in a new cell phone repair shop.their investments are in the ratio of 3:5:12.how

Dahasolnce [82]

Let say A,B&C and the ratio is 3:5:12
3+5+12=20
250000divide by 20 = 12500
12500x3=37500
12500x5=62500
12500x12=150000
So A invested 37500
B invested 62500
C invested 150000

8 0

4 years ago

On September 1, 2021, Sheffield Corp. issued a note payable to National Bank in the amount of $1460000, bearing interest at 8%,

Lisa [10]

Congratulations congratulations happy birthday happy happy ww happy birthday happy happy birthday merry Christmas happy birthday happy

3 0

3 years ago

Indicate the effect of each transaction during the month of October 20Y8 and the balances for the accounting equation after all

Leona [35]

Answer:

For better visualization, the answer is presented in a table

$\left[\begin{array}{ccccc}&Assets&=&Liabilities +&Equity\\1&45,000&=&&45,000\\2&-2,000&=&&-2,000\\Bal.&43,000&=&0&43,000\\3&5,000&=&&5,000\\Bal.&48,000&=&0&48,000\\4&&=&&\\Bal.&48,000&=&0&48,000\\5&20,000&=&20,000&\\Bal.&68,000&=&20,000&48,000\\6&-1,000&=&&-1,000\\Bal.&67,000&=&20,000&47,000\\7&8,000&=&&8,000\\Bal.&75,000&=&20,000&55,000\\8&-3,000&=&&-3,000\\Bal.&72,000&=&20,000&52,000\\9&-100&=&&-100\\Bal.&71,900&=&20,000&51,900\\\end{array}\right]$

Procedure details described below:

Explanation:

Opened a business bank account for Jones, Inc., with an initial deposit of $45,000 in exchange for common stock.

The cash is an asset for the company And Jones Is the Owner thus, asset and equity increase by 45,000

Paid rent on the office building for the month, $2,000.

The rent is an expense is an incurred cost to continue the operations of the business It decreases the equity and asset (cash used to pay the rent)

Received cash for fees earned of $5,000.

The fees are revenue from the business operations this is a realized gain, therefore, increases equity. Also, Assets increase as cash is an asset.

Purchased equipment, $7,000.

There is no change in the quantities but, the composition of the asset did change. Cash decrease while equipment increase.

Borrowed $20,000 by issuing a note payable.

The note payable is a future obligation to pay. It is a liability for the company assumed in exchange for an asset (cash)

Paid salaries for the month, $1,000.

Like rent, this is an incurred cost(expense) It decreases Equity also, assets as we use cash to pay it.

Received cash for fees earned of $8,000.

Exactly like the previous time, a realized gain generates an increase in equity and assets.

Paid dividends, $3,000.

The dividends are paid to the company's owners thus, the cash leaves the company into the owner's pocket. Both, assets and equity decrease (as there are fewer assets available for the owners to take)

Paid interest on the note, $100.

The interest also is an incurred cost thus, like salaries and rent expense we decrease equity and assets.

3 0

3 years ago

Select the correct statement regarding relevant costs and revenues.

givi [52]

Answer:

d) Avoidable costs are also known as sunk costs.

Explanation:

The avoidable cost are those cost that can be ignored while making decision. The sunk costs are all those cost which already been incurred and it will not be effected by the change in decision. The sunk costs are already been expensed so, whatever decision you make it will not be changed.

4 0

3 years ago

When real property is used as collateral for a bond, it is termed a/an ________. debenture senior bond indenture mortgaged secur

Bogdan [553]

A debenture is a type of debt instrument that is not secured by physical assets or collateral. Debentures are backed only by the general creditworthiness and reputation of the issuer. Both corporations and governments frequently issue this type of bond to secure capital. Like other types of bonds, debentures are documented in an indenture. Debentures have no collateral. Bond buyers generally purchase debentures based on the belief that the bond issuer is unlikely to default on the repayment. An example of a government debenture would be any government-issued Treasury bond (T-bond) or Treasury bill (T-bill). T-bonds and T-bills are generally considered risk free because governments, at worst, can print off more money or raise taxes to pay these types of debts. Debentures are the most common form of long-term loans that can be taken out by a corporation. These loans are normally repayable on a fixed date and pay a fixed rate of interest. A company normally makes these interest payments prior to paying out dividends to its shareholders, similar to most debt instruments. In relation to other types of loans and debt instruments, debentures are advantageous in that they carry a lower interest rate and have a repayment date that is far in the future.

7 0

3 years ago