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Crank
3 years ago
13

yeloe corporation sells 400 shares of common stock being held as an investment. The shares were acquired six months ago at a cos

t of $60 a share. Yelo sold the shares for 40 share the entry to recordd the sale is
Business
1 answer:
Keith_Richards [23]3 years ago
8 0

Answer:

Entry is given below

Explanation:

Bought shares 6 months ago = 400shares x $60/share

Bought shares 6 months ago = $24,000

Sold shares = 400shares x $40/share

Sold shares = $16,000

Loss on sales proceeds  = $24,000 - $16,000

Loss on sales proceeds = $8,000

Entry:

                                      DEBIT        CREDIT

Cash                              $16,000

Loss on sale                  $8,000

Shares                                               $24,000

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3 years ago
Jody is an agent for Kwik Credit Company (KCC). In the course of Jody's performance for KCC, Jody pays Leo for certain auto main
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Answer:

D. Reimbursement

Explanation:

A principal may be defined as a company's agent dealing with a contractor. The principal has the duty to reimburse an agent for the amount of money used up while carrying out his/her duty. Reimbursement may be from expenses like cost of travelling, cost of meals, cost of lodging and so on. In other words, if an agent makes authorized spending while doing a job for the principal, the principal has the duty to reimburse the agent for the money spent.

3 0
3 years ago
Read 2 more answers
According to recent data, obese patients are less likely than nonobese patients to obtain preventive health services and exams,
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The statements that are true based on the obese pations are statements 1 and 2. Henvce Both the first and second statements are true.. Option 2

<h3>What is meant by obesity?</h3>

The delay in receiving medical care has a positive relationship with BMI. 12.7% of participants said they have postponed or cancelled a doctor's appointment because of weight issues.

An important component of treating obesity is increasing physical activity or exercise: Exercise. For those who are obese, 150 minutes a week of moderate-intensity exercise is required to either maintain current weight loss or to stop further weight gain.

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6 0
1 year ago
According to the principle of comparative advantage, Group of answer choices countries should specialize in the production of go
Vanyuwa [196]

Answer:

should specialize in the production of goods for which they have a lower opportunity cost of production than their trading partners

Explanation:

A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.

For example, country A produces 10kg of beans and 5kg of rice. Country B produces 5kg of beans and 10kg of rice.  

for country A,  

opportunity cost of producing beans = 5/10 = 0.5

opportunity cost of producing rice = 10/5 = 2

for country B,  

opportunity cost of producing rice = 5/10 = 0.5

opportunity cost of producing beans = 10/5 = 2

Country A has a comparative advantage in the production of beans and country B has a comparative advantage in the production of rice

Country A should specialise in the production of beans and B  should specialise in the production of rice

4 0
2 years ago
Leyton Lumber Company has sales of $12 million per year, all on credit terms calling for payment within 30 days, and its account
s2008m [1.1K]

<u>Solution and Explanation:</u>

The following formula is used in order to calculate the days sales outstanding:

Days sales out standing = ( Accounts receivable divided by Sales )  multiply with 365

= $1.5 million divided by $12 million multiply with 365

After calculating we get, 45.625 days

<u>In order to calculate the capital released, the following formula is used: </u>

Capital released $=$ Sales $*$ (DSO - Credit period) $/ 365$

=\$ 12 \text { million } *(45.625-30) / 365

= 513699

Therefore, the capital released is $513699

8 0
3 years ago
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