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2 years ago

Name the accounts debited and credited for each of the following transactions.

Business

1 answer:

kumpel [21]2 years ago

6 0

Answer:

Explanation:

In this the golden rules of accounting applies, debit the receiver, and credit the giver, debit all expenses and credit all incomes and gains.

1. The journal entry is

Accounts Receivable A/c Dr

To Revenue

(Being work performed is recorded)

2. The journal entry is

Cash A/c Dr

To Accounts Receivable

(Being cash received from customer is recorded)

3.The journal entry is

Office supplies A/c Dr

To accounts payable

(Being office supplies purchased on credit )

4.The journal entry is

Gasoline A/c Dr

To Cash

(Being purchase of gasoline is recorded)

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Michelle is considering investing in a company's stock and is aware that the return on that investment is particularly sensitive

Cloud [144]

Answer:

Expected return= 0.165

Standard deviation = 0.07762

Explanation:

Given the following :

State - - - - - - - probability - - return

Boom - - - - - - - 0.4 - - - - - - - - 25%

Good - - - - - - - - 0.3 - - - - - - - 15%

Level - - - - - - - - 0.1 - - - - - - - - 10%

Slump - - - - - - - -0.2 - - - - - - - -5%

Expected return on investment :

Probability × rate of return

(0.4 × 25%) + (0.3 × 15%) + (0.1 × 10%) + (0.2 × 5%)

(0.4 × 0.25) + (0.3 × 0.15) + (0.1 × 0.1) + (0.2 × 0.05) = 0.165

= 16.5%

Standard deviation = √variance

Variance = probability × (return - expected return)^2

Variance = 0.4(25-16.5)^2 + 0.3(15-16.5)^2 + 0.1(10-16.5)^2 + 0.2(5-16.5)^2

Variance = 0.4(8.5)^2 + 0.3(-1.5)^2 + 0.1(-6.5)^2 + 0.2(11.5)^2

Variance = 0.4(72.25) + 0.3(2.25) + 0.1(42.25) + 0.2(132.25)

Variance = 60.25%

Standard deviation = √60.25

Standard deviation = 7.7620873%

= 0.0776208

= 0.07762 ( 5 decimal places )

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3 years ago

Prepare a cost estimate for the construction of a small, high quality, office building that contains 18,525 square feet of floor

Cerrena [4.2K]

Answer: $2197570

Explanation:

The cost estimate is prepared below:

Base cost = $101.15 × 18525 = $1873804

Add: Site work cost = $180000

Total = $1,873,804 + $180,000 = $2053804

Add: Design fees = 7% × $2053804 = 0.07 × $2053804 = $143766

Estimated cost = $2053804 + $143766 = $2197570

The range or percentage of this cost will be +50%.

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2 years ago

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saveliy_v [14]

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3 years ago

Pattison Corporation is a service company that measures its output by the number of customers served. The company has provided t

777dan777 [17]

Answer:

B. $1,500 F

Explanation:

Flexible Planning Activity

Budget Budget Variance

Customer served (q) 17 20

Travel expense ($500q) $8,500 $10,000 $1,500 (Favorable)

Workings

<u>Travel Expense </u>at 500q

Flexible budget = 500 * (17) = $8,500

Planning budget = 500 * (20) = $10,000

5 0

2 years ago

On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 210,000 shares of $30 par common stock at $34,

adoni [48]

Answer:

Jan. 22

Dr Cash $7,140,000

Cr Common Stock $6,300,000

Cr Paid in capital in excess of par $840,000

Feb. 27

Dr Cash $180,000

Cr Preferred Stock $135,000

Cr Paid-In Capital in Excess of Par-Preferred $45,000

Explanation:

Preparation of the entries for January 22 and February 27.

Jan. 22

Dr Cash $7,140,000

(210,000*$34)

Cr Common Stock $6,300,000

(210,000*$30)

Cr Paid in capital in excess of par $840,000

($7,140,000-$6,300,000)

Feb. 27

Dr Cash $180,000

(15,000*$12)

Cr Preferred Stock $135,000

(15,000*$9)

Cr Paid-In Capital in Excess of Par-Preferred $45,000

($180,000-$135,000)

7 0

3 years ago