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Readme [11.4K]
3 years ago
5

Denzel Brooks opens a Web consulting business called Venture Consultants and completes the following transactions in March.

Business
1 answer:
GrogVix [38]3 years ago
8 0

Answer:

a. Journal Entries

March 1

Cash $150,000 (debit)

Office Equipment $22,000 (credit)

Capital $ 172,000

March 2

Prepaid Rent $6,000 (debit)

Cash $6,000 (credit)

March 3

Office equipment $3,000 (debit)

Office supplies $1,200 (debit)

Accounts Payable $4,200 (credit)

March 6

Cash $4,000 (debit)

Service Revenue $4,000 (credit)

March 9

Accounts Receivable $7,500 (debit)

Service Revenue $7,500 (credit)

March 12

Accounts Payable $4,200 (debit)

Cash $4,200 (credit)

March 19

Prepaid Insurance $5,000 (debit)

Cash $5,000 (credit)

March 22

Cash $3,500 (debit)

Accounts Receivable $3,500 (credit)

March 25

Accounts Receivable $3,280 (debit)

Service Revenue $3,280 (credit)

March 29

Drawings $5,100 (debit)

Cash $5,100 (credit)

March 30

Office Supplies $600 (debit)

Accounts Payable $600 (credit)

March 31

Utilities Expenses $500 (debit)

Cash $500 (credit)

b.Ledger Account Balances

Cash ($150,000 - $500 - $5,100 +  $3,500 - $5,000 - $4,200 + $4,000 - $6,000) = $136,700

Office Equipment ($22,000 + $3,000) = $25,000

Capital = $ 172,000

Prepaid Rent = $6,000

Office supplies ($1,200 + $600) = $1,800

Accounts Payable ($4,200 + $600 - $4,200) = $600

Service Revenue ($4,000 + $3,280 + $7,500) = $14,780

Accounts Receivable ($7,500 - $3,500 + $3,280) = $7,280

Prepaid Insurance = $5,000

Utilities Expenses = $500

c. Trial Balance

                                                        Debit                    Credit

Cash                                             $136,700

Office Equipment                         $25,000

Capital                                                                      $ 172,000

Prepaid Rent                                  $6,000

Office supplies                                $1,800

Accounts Payable                                                          $600

Service Revenue                                                        $14,780

Accounts Receivable                    $7,280

Prepaid Insurance                         $5,000

Utilities Expenses                            $500

Totals                                          $187,380              $187,380

Explanation:

The above show the journals recorded, posting to ledger accounts and determination of account balances and trial balance as at April 30.

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Southern Markets has sales of $78,400, net income of $2,400, costs of goods sold of $43,100, and depreciation of $6,800. What is
Helen [10]

Answer:

36.35%

Explanation:

According to the scenario, computation of the given data are as follows,

Sales = $78,400

Net income = $2,400

Cost of goods sodl = $43,100

Depreciation = $6,800

So, we can calculate the EBIT value by using following formula:

= EBIT ÷ Sales

= ($78,400  - $43,100 - $6,800) ÷ ($78,400)

= $28,500 ÷ $78,400

= 36.35%

Hence, the common-size statement value of EBIT is 36.35%

3 0
2 years ago
Property rights are legally established titles to the​ ownership. True or False
kakasveta [241]

Answer:

True

Explanation:

The property rights are the rights that are given the authority to use or sell the property resources which fully depend upon the ownership criteria.

It should be legally owned by any person whether such a person is an individual or its a company or government.  

The example of the property rights would be intangible or tangible i.e building, patents, land, copyrights, and other intellectual properties.

8 0
3 years ago
You manage a risky portfolio with an expected rate of return of 18% and a standard deviation of 30%. The T-bill rate is 6%. Your
Roman55 [17]

Answer:

Explanation:

Expected return of the portfolio is weighted average of the return of the components.

E(R) = w1 * R1 + w2 * R2

E(R) = 65% * 18% + 35% * 6%

E(R) = 11.70% + 2.10%

Expected Return, E(R) = 13.80%

Standard deviation of portfolio is mathematically represented as:

\sigma =\sqrt{w_1^2\sigma _1^2+w_2^2\sigma _2^2+2w_1w_2p_{1,2}\sigma_1\sigma_2}

where

w1 = the proportion of the portfolio invested in Asset 1

w2 = the proportion of the portfolio invested in Asset 2

σ1 = Asset 1 standard deviation of return

σ2 = Asset 2 standard deviation of return

For risk free money market fund, standard deviation = 0 and its correlation with risky portfolio = 0

\sigma  =\sqrt{ (0.65 * 0.30)^2 + (0.35 * 0)^2 + (2 * 0.65 * 0.30*0.35 *0*0)} \\\\= \sqrt{0.038025 +0+0} \\\\ = 0.195

Standard deviation = 19.50%

7 0
3 years ago
Fifteen married couples are at a dance lesson, but now only five men and five women are selected at random, then randomly paired
Tresset [83]

Answer:

( ¹⁵C₂ )² × 5! = 1082161080

Explanation:

Data provided in the question:

Number of married couples = 15

Therefore,

Number of males = 15

Number of females = 15

Now,

The number of possible dancing arrangements

= Probability of selecting males × Probability of selecting males × ways of arranging 5 pairs

= ¹⁵C₂ × ¹⁵C₂ × 5!

= ( ¹⁵C₂ )² × 5!

= [\frac{15!}{5!\times(15-5)!}]^2 × ( 5 × 4 × 3 × 2 × 1 )

= [\frac{15\times14\times13\times12\times11\times10!}{5\times4\times3\times2\times1\times10!}]^2 × ( 5 × 4 × 3 × 2 × 1 )

= [\frac{360360}{120}]^2 × 120

= 1082161080

6 0
3 years ago
One way businesses can solve ethical dilemmas is through:
Viefleur [7K]

Answer: D

Explanation:

An ethical dilemma is a decision making problem between two possible moral imperatives, neither of which is unambiguously acceptable or preferable.

The best way to solve an ethical dilemma problem is to only recruit ethically proven potential workers during interview.

8 0
3 years ago
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