Answer:
The Journal entries with their narrations of Jesse’s investment and Tim’s investment is shown below:-
Explanation:
a. Jesse’s investment
Accounts Receivable Dr, $41,600
($45,000 - $3,400)
Agreed price of equipment Dr, $68,200
To allowance for doubtful debts $1,600
To capital account $108,200
(Being Jesse's investment is recorded)
b. Tim’s investment
Cash Dr, $22,000
Agreed price of inventory Dr, $49,000
To Tim capital $71,000
(Being Tim's investment is recorded)
Answer:
1)
Debit Cash/Bank 27,000 (4,500 shares x $6 per share)
Credit Common Stock 13,500 (4,500 shares x $3 per share)
Credit Paid-In Capital in Excess of Stated Value—Common 13,500 (4,500 shares x $3 per share)
2)
Debit Cash/Bank 135,000 (4,500 shares x $30 per share)
Credit preferred Stock 135,000 (4,500 shares x $30 per share)
Explanation:
any issuing price of stock above par value will be credited in "Paid-In Capital in Excess of Stated Value—Common"
Out of the following choices given, the budget item that would probably be considered a fixed expense is insurance premiums. Entertainment, savings, and clothing expenses can change from week to week or from month to month. Insurance will be a fixed amount for a year at a time and most likely won't change. The correct answer is D.
This business uses a Peer-to-peer technique
Explanation:
P2P is a shared application framework which separates the tasks or workload from each other (partitioning tasks or workloads). Participants in the program are equally qualified and fit. It is called a system of nodes peer to peer.
Peer services, for instance computing power, disk storage and bandwidth, are made available to other network users directly without the central control of the servers or secure hosts. Peers, in comparison to the conventional customer service model where resource utilization and distribution are separated, are both the providers and consumers of services.
