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Juliette [100K]
3 years ago
10

Geraldine Parker, the owner of Gi Grs Dance Studio, Inc., started the business by investing $10,000 cash and donating a building

worth $20,000. Identfy the general jourmal entry below that Gi Gřs will make to record the transaction. A. Cash 30. Common Stock 0,000 B. Common Stock 30 Cash 10,000 Building 20,000 C. Cash 10,000 Building 20.000 Common Stock D. Common S Stock 30,000 Retained Eamings E. Cash & Builing 30,000 Common Stock 30,000
Business
1 answer:
lesantik [10]3 years ago
6 0

Answer:

The correct option is B,common stock 30,000 cash 10,000 and building 20,000

Explanation:

Geraldine Parker's contributions  to the business -that is both cash and building are seen as his capital invested in the business.Invariably, it is assumed the new business owes Geraldine Parker the worth of resources invested

Appropriate double entries for the transaction  are shown below

Dr Cash              $10000

Dr Building          $20000

Cr Capital                           $30000

This is the capital as at the start of the business,it is also possible that Geraldine Parker contributes additional capital which adds to existing capital.

Also,the profits made increases the stake of the owner in the business and drawings  should e deducted from the capital  in case the owner withdraws cash or goods from the business.

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International issues of social responsibility and ethical behavior are: difficult and not as clear-cut as U.S. firms would like
Arlecino [84]

Answer: difficult and not as clear-cut as U.S. firms would like them to be

Explanation:

The issues associated with social responsibility and ethical problems doesn't pertain to a particular income level or economic system.

Even though businesses in the United States always demand socially responsible behavior and good ethics from their international suppliers, the issues of social responsibility and ethical behavior are still difficult and not as clear-cut as they want them to be.

This is really a bothering issue as.it has even been suggested in the past whether the international suppliers should be made to adhere to the laws I the United States.

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3 0
3 years ago
Read 2 more answers
Record the journal entry for Sales and for Cash Over and Short for each of the following separate situations. The cash register’
erica [24]

Answer:

Explanation:

The journal entries are shown below:

1. Cash A/c Dr$598

     To Sales $560

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(Being the cash sales are recorded and the remaining balance is credited to the cash over and short account)

2. Cash A/c Dr $1,112

   Cash over and short A/c Dr $36

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(Being the cash sales are recorded and the remaining balance is debited to the cash over and short account)

4 0
3 years ago
Assets liabilities + net worth reserves $120,000 checkable deposits $300,000 loans 140,000 stock shares 200,000 securities 40,00
Free_Kalibri [48]

the answer i got was 960000

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5 0
3 years ago
On december 2017 coolwear had a balance in its prepaid insurance acount of 68,400. During 2018, 106,000 was paid for insurance.
NNADVOKAT [17]

Answer:

$132,400

Explanation:

Calculation for the Insurance expense

Using this formula

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