All categories

4 years ago

Bearcat Construction begins operations in March and has the following transactions.

Business

1 answer:

aleksklad [387]4 years ago

8 0

Answer:

Bearcat Construction

General Journal

March 1

Cash $17,500 (debit)

Common Stock $17,500 (credit)

Cash Received in Exchange of Common Stock

March 5

Cash $8,300 (debit)

Note Payable $8,300 (credit)

Cash received from Bank Loan

March 10

Equipment (debit)

Cash (credit)

Purchase of Equipment by Cash

March 15

Advertising Expenses (debit)

Cash (credit)

Advertising Expense paid in Cash

March 22

Accounts Receivable $17,300 (debit)

Service Revenue $17,300 (credit)

Service Rendered on Credit

March 27

Cash $17,300 (debit)

Accounts Receivable $17,300 (credit)

Cash Received from Accounts Receivables

March 28

Salaries Expense $5,300 (debit)

Cash $5,300 (credit)

Salaries paid in Cash

Explanation:

See the Journal Entries and Narrations that i have prepared above.

You might be interested in

You have just received a windfall from an investment you made in a friend's business. She will be paying you $ 15 comma 555 at

Vilka [71]

Answer:

Present value = $75,379.47

Future value is $91,567.97

Explanation:

a) Present value of cash flow is calculated as:

$Present\ value = \frac{(15,555}{1.067} + \frac{(31,110}{(1.067)^2}) + \frac{(46,665}{(1.067)^3})$

Present value = $14578.25 + $27,325.69 + $33475.53

Present value = $75,379.47

b) Future value of windfall is calculated as

$Future\ value = present\ value \times (1-r)^n$

$Future\ value = 75379 \times (1+ 0.067)^3$

Future value is $91,567.97

7 0

3 years ago

What may be offered to clients when banks find the risk too high?

mina [271]

Private money may be offered to clients when banks find the risk too high. Private money is usually owned by a private organization. Private money has high interest rates and the people who receive the money still have to follow state, federal and bank laws when using the money.

6 0

3 years ago

If a firm needs to finance a new corporate headquarters building, then it would most likely seek the funds in the:________

Gennadij [26K]

If a firm needs to finance a new corporate headquarters building, then it would most likely seek the funds in the capital market.

A capital market is a place where buyers and sellers bask in the trade of economic securities like bonds, shares, and many others. The trading is undertaken by using participants which includes people and establishments. Capital marketplace trades broadly speaking in lengthy-term securities.

The capital market is wherein individuals and companies borrow price ranges using shares, bonds, debentures, debt units, and so on. The maximum common instance is a stock alternate which includes NASDAQ, trading shares from one-of-a-kind businesses among buyers.

Capital markets are crucial due to the fact they finance the economic system, allocate danger, and support economic boom and monetary balance. within the U.S., capital markets fund seventy two% of all monetary activities, in terms of equity and debt financing of non-economic organizations.

Learn more about trade here brainly.com/question/17727564

#SPJ4

5 0

2 years ago

The total cost (in dollars) of manufacturing x auto body frames is C(x)=60,000+400x. (A) Find the average cost per unit if 20

Nesterboy [21]

Answer:

a) Average price per unit = 700

b) average marginal cost = -1.5 dollars/frame

c) For 201 frames are produced = $698.5

Explanation:

Given Data:

C(x) = 60000 + 400x

a) Average cost for 200 units:

Total Cost of 200 units will be:

C(200) = 60000 + 400(200)

C(200) = 140,000

Total Cost of 200 units = 140,000

Average price per unit = Total Cost / number of units

Average price per unit = 140,000/200

Average price per unit = 700

b) Marginal Average Cost:

We know that marginal cost = $C^{'}$ (x)

And the average marginal cost = $\frac{d}{dx}$ $\frac{C(x)}{x}$

So,

= the derivative of ( $\frac{60,000 + 400(x)}{x}$ )

= the derivative of ( $\frac{(60,000)}{x} + 400$ )

= $\frac{-60,000}{x^{2} }$ + 0

So,

average marginal cost = $\frac{-60,000}{x^{2} }$

at x = 200 units

average marginal cost = $\frac{-60,000}{200^{2} }$

average marginal cost = -1.5 dollars/frame

c) Average cost per frame if 201 frames are produced:

We already seen in the part b that, the average marginal cost is decreasing by 1.5 dollars /frame. So,

if 201 frames are produced the instead of 200 then the difference is of 1 frame and we discussed that average marginal cost of 1 frame is decreasing at 1.5 dollars per frame.

So,

As we know the average cost from part a = 700 dollars.

Therefore, for 201 item = 700 dollars -1.5 dollars

For 201 frames are produced = $698.5

5 0

3 years ago

Prepare a bank reconciliation for Cole Co. assuming the following as of May 31. Use the worksheet provided in the Ch 7 Module: 1

goblinko [34]

Answer:

Cole Co.

Bank Reconciliation Statement

Balance as per cash account adjusted $112,933

add uncredited deposits 11,317

less Outstanding checks -41,750

Balance as per bank statement $82,500

Explanation:

a) Data and Calculations:

Cash account debit balance = $95,250

Bank statement balance = $82,500

Outstanding checks = $11,317

Credit memorandum $18,000

Collection fee $45

Check 1115 for Rent Expense of $1,350 transposed as $1,050 = $300 ($1,350 - $1050)

Uncredited deposits = $41,750

Interest earned = $28

Cash Account Adjustment:

Cash account debit balance $95,250

Debit:

Credit memorandum 18,000

Interest earned 28

Credit:

Collection fee -45

Rent Expense (understated) -300

Adjusted cash account balance $112,933

b) The bank reconciliation statement above was prepared after adjusting the cash account with items that were recorded by the bank but not recorded by Cole Co. and other misstatements. With the adjusted cash account balance, the bank reconciliation was then carried out with the items that were not recorded by the bank. The resulting figure should agree with the bank statement balance.

4 0

3 years ago