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3 years ago

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An example of a free rider is a. someone who benefits from clean air without paying for it. b. someone who adds value to a netwo

rk by joining it. c. someone who is harmed by second-hand smoke. d. None of the abov

1 answer:

Anna71 [15]3 years ago

3 0

is a person who benefits from something without expending effort or paying for it.

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This information relates to Hanshew Real Estate Agency.

Molodets [167]

Answer and Explanation:

a. The Journal entry is shown below:-

1. Cash Dr, $35,000

To common stock $35,000

(Being received cash in exchange of common stock is recorded)

2. No Journal entry is required

3. Equipment Dr, $3,500

To Accounts payable $3,500

(Being equipment is recorded)

4. Accounts receivable Dr, $10,000

To service revenue $10,000

(Being service revenue is recorded)

5. Cash Dr, $140

To Service revenue $140

(Being Cash is recorded)

6. Accounts payable Dr, $700

To Cash $700

(Being accounts payable is recorded)

7. Salaries and wages expenses Dr, $3,000

To Cash $3,000

(Being Salaries and wages expenses is recorded)

b. The transaction of T accounts is shown below:-

Cash

Oct 1 $35,000 Oct 27 $700

Oct 10 $140 Oct 30 $3,000

Oct 31 $31,440

Accounts receivable

Oct 6 $10,000

Oct 31 $10,000

Equipment

Oct 3 $3,500

Oct 31 $3,500

Accounts payable

Oct 27 $700 Oct 3 $3,500

Oct 31 $2,800

Common stock

Oct 1 $35,000

Oct 31 $35,000

Service revenue

Oct 6 $10,000

Oct 10 $140

Oct 31 $10,140

Salaries and wages revenue

Oct 30 $3,000

Oct 31 $3,000

3 0

3 years ago

Lease or Sell Casper Company owns a equipment with a cost of $366,000 and accumulated depreciation of $53,200 that can be sold f

aalyn [17]

Answer:

The Company should Lease the equipment (Alternative 1)

Explanation:

Preparation of a differential analysis on March 23 as to whether Casper Company should lease or sell the equipment.

DIFFERENTIAL ANALYSIS

Lease Equipment (Alternative 1); Sell Equipment (Alternative 2) Differential Effect on Income (Alternative 2)

Revenues $285,200 $273,400 –$11,800

Costs –$15,100 –$8,202 $6,898

($273,400*3%=$8,202)

Income (Loss) $270,100 $265,198 $4,902

Therefore Based on the above Differential Analysis the Company should LEASE the equipment (Alternative 1).

6 0

3 years ago

Carey Anderson opened a software consulting firm that immediately paid $21,000 for a computer system. Was Anderson's computer

weeeeeb [17]

It is because he is paying money so it is a expense

4 0

3 years ago

Dilution Solutions, Inc. repurchased 500 shares of its $2 par value common stock for $10,000. The effect of this transaction on

Sedbober [7]

Answer: $10,000 increase in Treasury Stock

Explanation:

Treasury stock, is also known refered to as the treasury shares and it occurs when stock is bought buy the issuing company back from the stockholders.

This results in the reduction in the total number of outstanding shares that can be found on the open market. In the above scenario, since Dilution Solutions, Inc. repurchased 500 shares of its $2 par value common stock for $10,000, this will bring about a $10,000 increase in the treasury stock.

3 0

2 years ago

Marilyn has a biweekly gross pay of $810 and claims 3 federal withholding allowances. Marilyn has all of the following deduction

frutty [35]

The net pay of Marilyn will increase by $18.15 due to the increase in the federal withholding allowances from 3 to 4.

<h3>The computation of net pay considering various federal withholding allowances</h3>

Given,

Gross pay =$810

3 Federal withholding allowances =$37 (taken from the reference table)

4 Federal withholding allowances =$22 (taken from the reference table)

Federal state tax rate =21%

First, the state tax rate and the total amount of withholding for 3 Federal withholding allowances are computed:

$\begin{aligned}\text{State Tax}&=\text{Claim Amount}\times\text{Federal State Tax Rate}\\&=\$37\times21\%\\&=\$7.77\end{aligned}$

$\begin{aligned}\text{Total Amount of 3 withholdings}&=\text{Claim Amount}+\text{State Tax}\\&=\$37+\$7.77\\&=\$44.77\end{aligned}$

Now, the state tax rate and the total amount of withholding for 4 Federal withholding allowances are computed:

$\begin{aligned}\text{State Tax}&=\text{Claim Amount}\times\text{Federal State Tax Rate}\\&=\$22\times21\%\\&=\$4.62\end{aligned}$

$\begin{aligned}\text{Total Amount of 4 withholdings}&=\text{Claim Amount}+\text{State Tax}\\&=\$22+\$4.62\\&=\$26.62\end{aligned}$

The difference in the net pay will be the difference between $44.77 and $26.62, which is $18.15.

Therefore, Marilyn withholding will decrease from $44.77 to $26.62 that is increasing the net pay by $18.15

Learn more about federal-state tax, refer to the link:

brainly.com/question/25828729

7 0

2 years ago