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harkovskaia [24]
3 years ago
9

Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March, the partners plan to expand

by opening a retail sales shop. They have decided to form the business as a corporation called Traveling Gourmet, Inc. The following transactions occurred in March:
a. Received $84,000 cash from each of the two shareholders to form the corporation, in addition to $2,400 in accounts receivable, $6,100 in equipment, a van (equipment) appraised at a fair value of $13,800, and $1,400 in supplies. Gave the two owners each 580 shares of common stock with a par value of $1 per share.
b. Purchased a vacant store for sale in a good location for $400,000, making an $80,000 cash down payment and signing a 10-year mortgage note from a local bank for the rest.
c. Borrowed $54,000 from the local bank on a 10 percent, one-year note.
d. Purchased food and paper supplies costing $11,000 in March; paid cash.
e. Catered four parties in March for $4,600; $1,680 was billed and the rest was received in cash.
f. Sold food at the retail store for $17,100 cash; the food and paper supplies used to cost $10,910. (Hint: Record two the revenue effect separate from the expense effect.)
g. Received a $460 telephone bill for March to be paid in April.
h. Paid $403 in gas for the van in March.
i. Paid $7,080 in wages to employees who worked in March.
j. Paid a $340 dividend from the corporation to each owner.
k. Purchased $54,000 of equipment (refrigerated display cases, cabinets, tables, and chairs) and renovated and decorated the new store for $22.000 (added to the cost of the building); paid cash.

Prepare an unadjusted classified income statement in good form for the month of March.

Business
1 answer:
melisa1 [442]3 years ago
3 0

Answer:

See explanation

Explanation:

See the image below to get the appropriate answer:

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Answer:

The correct option is A. Need or Deficiency.

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In the scenario presented above, we can see that Madeline is motivated to take on more clients due to the fact that she perceives that her needs will increase.

Therefore, the correct option to this question is that Madeline's motivation is due to need or deficiency.

8 0
3 years ago
The characteristics that make a team effective include ________.
Sonbull [250]

Answer:

- context, composition, work design, and processes

Explanation:

While all the option have important parts which makes a team effective there are options with characteristics which do not affecrt the team effectiveness.

The resources available can vary between the projects thus, cannot determinated the effectiveness of a team. Thus, the second cannot be correct.

The size is a variable part as well thus, the third option cannot be correct neither.

Finally the task significance, the team should do an efficient job regardless of how much crucial is the job As if done badly all task have impact on the overall firm outcome. From janitor to managers is required that all team jobs make the extra mile or effort to achieve the desired outcome. Thus the fourth statement is not correct.

3 0
3 years ago
_____________ is the act of breaking into a computer to steal information.
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A firm has redesigned its production process so that it now takes 10 hours for a unit to be made. Using the old process, it took
Citrus2011 [14]

Answer:

Reduction in work in progress = $7500

Explanation:

given data

time = 10 hours

time = 15 hours

worth  = $1,500

to find out

reduction in work in process value

solution

we find work in progress   by this formula

work in progress  = Flow rate  × Cycle Time     .......................1

so Initial work in progress is

Initial work in progress   = (1 per hour)  × 10 hours = 10

and Final work in progress is here

Final work in progress   = (1 per hour) × 15 hours = 15

so

Initial work in progress   value = 10  × 1500

Initial work in progress   value= $15000

and

Final work in progress    value =15  × 1500

Final work in progress    value = $22500

so

Reduction in work in progress = $22500 - $15000

Reduction in work in progress = $7500

4 0
3 years ago
If incomes increase during a period of expansion, goods considered to be inferior will experience?
Olegator [25]

If incomes increase during a period of expansion, goods considered to be inferior will experience:

  • A decrease in demand

<h3>What are inferior goods?</h3>

Inferior goods are those types of goods that consumers have little or no interest in. These goods are mostly sought after when the economy is tough and people have no option but to purchase them.

However, when the economy improves and there is an expansion, people will naturally return to the goods that they believe have superior quality. When they make this move, the inferior goods will experience a decrease in demand.

Learn more about inferior goods here:

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5 0
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