The same person opens incoming mail and posts the accounts receivable subsidiary ledger.

Lorek company acquires land for $160,000 cash. additional costs are as follows: removal of shed, $500; filling and grading, $2,0

hoa [83]

$160,000 + $6,000 + $1,000 = $167,000. I don’t believe that the removal of the shed, filling and grading, or paving the parking lot would be considered part of the acquisition itself, so those values are there just to throw you off from the correct answer.

8 0

2 years ago

Issued $25,000 of QCI stock for cash. Incurred $600 of utilities costs this month and will pay them next month. Incurred and pai

Natali5045456 [20]

Answer:

A.

a.Dr Cash 25,000

Cr Common Stock 25,000

b. Dr Utilities expense 600

Cr Utilities payable 600

c. Dr Wages expense 2,000

Cr Cash 2,000

d. Dr Account receivable 2,800

Cr Service revenue 2,800

e. Dr Repairs expense 150

Cr Cash 150

B. $50

Explanation:

Preparation of Journal entries

a. Based on the information given we were told that the amount of $25,000 of QCI stock for cash was issued which means that the Journal entry will be :

Dr Cash 25,000

Cr Common Stock 25,000

b. Based on the information given we were told that they Incurred the amount of $600 of utilities costs which means that the Journal entry will be :

Dr Utilities expense 600

Cr Utilities payable 600

c. Based on the information given we were told that the company Incurred and as well paid wages totaling the amount of $2,000 which means that the Journal entry will be :

Dr Wages expense 2,000

Cr Cash 2,000

d. Based on the information given we were told that the company Performed cleaning services that cost $2,800 which means that the Journal entry will be:

Dr Account receivable 2,800

Cr Service revenue 2,800

e. Based on the information given we were told that the Cleaners’s equipment was repaired at the amount of $150 which means that the Journal entry will be :

Dr Repairs expense 150

Cr Cash 150

2) Calculation for the Net income

Net income = 2,800-2,000-150-600

Net income = $50

Therefore net income will be $50

8 0

3 years ago

Evaluate the product offerings at REI. Select a product category and review the product line at REI, then select a similar compe

Oksana_A [137]

Answer:

The ambulatory cluster is my importance for this assignment is to find the artefact share of the promoting combine, REI proposals skilled recommendation, shops, REI field journeys and educations to its purchasers. Hikers in California, New Hampshire, and Northern geographical region will participate in hiking journey. If you are doing not need to hike, you've got one thing to try and do with the REI experience. Clienteles don't would like a payment to profit from these advantages and however they'll be voucher entree to those facilities. For instance, members will hike Mountain South for 799 dollar whereas non-members fee 878 dollars. A time period association with REI prices $20.00 and every one product and facilities are focus to loyalty rebates. Hikers are "led by veteran directors, approximately with basic teaching for students in mountain skills, are considered for those with mountainous familiarity. As REI stores and 3 delivery centers in Arizona are settled countrywide with the most recent location. Quite 40% of co-op incomes are supported by the delivery center in Arizona. REI attentions on its CSR whereas dropping the prices of its product to its clienteles.

In distinction, LL Bean suggestions no vision into the expertise of exploitation the merchandise. Their web site relies on the idea that they knowledge product and facilities are used throughout walks. when interpretation this text, I think that REI is that the finest consequence as a result of their obliging roots carry incomes to our associates, "as well as their utter desire for the out of doors expertise. REI delivers the patron, system and experience public. They acquired benefit of the generous expertise and treed it. Their main experiment is to achieve new clients and to effort the attention and supreme decision-making issue of the corporate for teens who are upcoming shoppers. In current technology culture, rarer are keen to virtually separate and explore.

4 0

3 years ago

Suppose you had to test how well two types of soap work. describe your experiment by using terms control and variable.

Vinil7 [7]

In testing the soap with the use of control and variable, you need to differentiate both of the soaps that is needed to be differentiated with having to name the materials used and the soaps that are under the control and under the variable. The control will be the materials needed as it is the one responsible of changing the variable as the soaps are the variable because they will likely change as the experiment is conducted.

6 0

2 years ago

On September 1, 2021, Red Co., issued $48 million of its 10% bonds at face value. The bonds are dated June 1, 2021, and mature o

Harlamova29_29 [7]

Answer:

$1,200,000

Explanation:

The computation of the accrued interest is shown below:

= Principal × rate of interest × number of months ÷ (total number of months in a year)

= $48,000,000 × 10% × (3 months ÷ 12 months)

= $1,200,000

We simply applied the simple interest formula by considering the principal amount, rate of interest and the number of months so that the correct amount could come

3 0

2 years ago