Answer:
The $30,000 will be posted to the debit side of the Cash account
The $30,000 will be posted to the credit side of the Common Stock account
Explanation:
The journal entry is shown below:
Cash A/c Dr $30,000
To Common stock A/c $30,000
(Being the cash is invested)
We simply debited the cash account and credited the capital account for $30,000 so that the correct posting can be done. So while preparing the ledger accounts we post the amount to the debit side of the cash account and credit side of the common stock account
28.1%
Explanation:
Step 1 :
Given that
Cost price for the seller = 290$
Selling price for the seller = 403.1$
Profit = 403.1$ - 290$ = 113.1$
Step 2:
Markup based on Selling price = (Profit/Selling Price)*100
-> (113.1/403.1)*100=28.057%
This can be rounded of to 28.1% (nearest tenth)
I am not 100% sure but I think it would be B a loan officer
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