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
tankabanditka [31]
3 years ago
14

Accounting Professionals Inc. experienced the following events in 2014, its first year of operation:1. Performed services for $2

0,000 cash.2. Purchased $4,000 of supplies on account.3. A physical count on December 31, 2014, found that there was $1,000 of supplies on hand.RequiredBased on this information alonea.Record the events under an accounting equation. (Enter any decreases to account balances with aminus sign.
Business
1 answer:
Andrews [41]3 years ago
6 0

Answer:

Explanation:

The accounting equation is presented below:

Particulars       Assets   =               Liabilities   =             Stockholders equity  

                        Cash     Supplies          Account payable              Retained earnings

1. Service

Performed       $20,000                                                                    $20,000

2. Supplies

Purchased                       $4,000             $4,000

3. Supplies

Used                              -$3,000                                                         -$3,000

Total               $20,000  $1,000              $4,000                               $17,000

You might be interested in
Joseph runs a popular cafeteria chain. He currently has three branches in the city. He plans to enter a franchise contract with
vekshin1

Answer:

B. business format franchise

Explanation:

Under the business format model, the franchisee adopts the entire business operating systems of the franchisor. It means that the franchisee uses the franchisor's trademark, plans, and procedures. Goods and services offered by the franchisee will be identical and will bear the same prices as those of the franchisor.

Joseph plans to operate a business format model of a franchise. The franchisee will have to meet Joseph's standards of operations. For that to happen, Joseph must provide the following.

  1. Initial training
  2. Standardize build-out plans
  3. Operations manuals
  4. Continuous support
  5. Point-of-sale system education
  6. Key functionalities

Joseph has a responsibility to ensure the franchisee adhere to the standards agreement. It means he will have a supervisory role in management for the franchisee.

In return, Joseph will be earning commissions from each franchisee based on the income of each of them.

3 0
3 years ago
During December, the production department of a process operations system completed and transferred to finished goods a total of
kati45 [8]

Answer:

$3 per unit

Explanation:

The computation of the direct materials cost per equivalent unit is shown below:

Completed and transferred to finished goods  65,000 units  

Equivalent number of additional units in process 15000 units

Beginning inventory material cost $57,500

Direct material cost incurred $183,000

Total direct material cost $240,500 ($57,500 + $183,000)

ANd, the total units is  80,000 (65,000 + 15,000)

So, the direct material cost per equivalent unit is

= $240,500 ÷ 80,000 units

= $3 per unit

3 0
3 years ago
Olongapo Sports Corporation is the distributor in the Philippines of two premium golf balls-the Flight Dynamic and the Sure Shot
lesya [120]

Increase in contribution margin = P 183,750×45.9% = P84,341.25.

Gross margin and gross margin both consider the profitability of businesses of all sizes. The difference between them is that gross margin compares profits and sales in dollars, whereas gross margin compares costs and sales. To calculate profit margin, start with gross profit, which is the difference between sales and COGS. Then find the percentage of sales that equals the gross profit.

Margin is the down payment you make for the total cost of your home. Lenders will only finance up to 75-90% of the total cost of the property, leaving the rest as margin. Lenders see this upfront payment as a sign of commitment, and large payments reduce lending risk.

Learn more about margin at

brainly.com/question/10218300

#SPJ4

6 0
1 year ago
Create a list of requirements to open a new restaurant​
kupik [55]

Answer:

1. Choose a Restaurant Concept and Brand.

2. Create Your Menu.

3. Write a Restaurant Business Plan.

4. Obtain Funding.

5. Choose a Location and Lease a Commercial Space.

6. Restaurant Permits and Licenses.

7. Design Your Layout and Space.

8. Find an Equipment and Food Supplier

7 0
3 years ago
Read 2 more answers
Neal and Ned spend $25,000 on travel, surveys, and financial forecasts toinvestigate the possibility of opening a bagel shop in
vlabodo [156]

Answer:

a. The $25,000 is deductible as a current expense.

b. The $25,000 is still deductible as a current expense.

Explanation:

a.They open a bagel shop in the city?

The $25,000 spent on travel, surveys, and financial forecasts will be treated as an an ordinary and necessary business expense. The reason is that it is spent to carry out an investigation necessary for expanding their already existing business. Therefore, the $25,000 is deductible as a current expense.

b. They decide not to open a bagel shop in the city?

It does not matter whether they open the bagel shop in the city or not. The $25,000 spent on investigation will still be treated as an an ordinary and necessary business expense, since it is spent to expand existing active business. The $25,000 is still deductible as a current expense.

7 0
3 years ago
Other questions:
  • What is the change in quantity supplied when price increases from $0.75 to $1.50?
    7·1 answer
  • Which of the following is not something the HR specialist will discuss with a new employee?
    7·1 answer
  • After identifying the purpose of your message, you should select the most appropriate communication channel. When determining th
    11·1 answer
  • There are more than two types of bachelors’ degrees<br><br> true or false?
    9·1 answer
  • What are the differences between the​ long-run equilibrium of a perfectly competitive firm and the​ long-run equilibrium of a mo
    12·1 answer
  • Transent Foods announced that its current sales are $1,233,450 this year. The company forecasts a growth rate of 16 percent for
    7·1 answer
  • e. The noneconomic effects of unemployment include a sense of failure created in parents and in their children the costs of movi
    12·1 answer
  • I am free and i am a girl so do u want to be friends maybe??
    10·1 answer
  • ________ would be hurt by unexpected inflation. a. A firm that purchased inputs with a two-year contract b. A worker whose wage
    10·1 answer
  • In what sense is test marketing a special type of experiment? What are its main objectives?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!