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3 years ago

Boilermaker House Painting Company incurs the following transactions for September:

Business

1 answer:

mr Goodwill [35]3 years ago

7 0

Answer:

1) Dr Accounts receivable 11,000

Cr Service revenue 11,000

2) Dr Equipment 12,000

Cr Cash 12,000

3) Dr Supplies 1,700

Cr Accounts payable 1,700

4) Dr Wages expense 2,400

Cr Cash 2,400

5) Dr Advertising expense 1,200

Cr Cash 1,200

6) Dr Rent expense 3,600

Cr Cash 3,600

7) Dr Cash 6,000

Cr Accounts receivable 6,000

8) Dr cash 4,200

Cr Deferred revenue 4,200

Cash Accounts receivable

debit credit debit credit

17,100 800

12,000 11,000

2,400 6,000

1,200 5,800

3,600

6,000

4,200

8,100

Supplies Equipment

debit credit debit credit

320 5,600

1,700 12,000

2,020 17,600

Accounts payable Deferred revenue

debit credit debit credit

700 4,200

1,700

2,400

Common stock Retained earnings

debit credit debit credit

16,000 7,120

Service revenue Rent expense

debit credit debit credit

11,000 3,600

Wages expense Advertising expense

debit credit debit credit

2,400 1,200

Boilermaker House Painting Company

Trial Balance

For the month ended September 30, 202x

debit credit

Cash $8,100

Accounts Receivable $5,800

Supplies $2,020

Equipment $17,600

Accounts Payable $2,400

Deferred revenue $4,200

Common Stock $16,000

Retained Earnings $7,120

Service revenue $11,000

Rent expense $3,600

Wages expense $2,400

Advertising expense $1,200

Totals $40,720 $40,720

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On January 1, 2020, Beyonce Co. purchased 25,000 shares (a 10% interest) in Elton John Corp. for $1,400,000. At the time, the bo

Drupady [299]

Answer: $‭4,688,250‬

Explanation:

Carrying value on Jan 1, 2021:

= Interest + share of net income Dec 31,2020

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Carrying value, June 2021:

= Carrying value + share of net income

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8 0

3 years ago

elixir [45]

Answer:Yes

Explanation:

Pooled data occur when there is a time series of different cross sections with each observations not necessarily from the same unit while Panel data is sample from the same units. The main difference between them is the "units". The units can be countries, households, schools or other things we are collating data on.

In pooled cross section, random samples from different time periods and from different units are taken e.g. we can take data on number of females and males in schools A, B and C in 2020 and schools X, Y and Z in 2023.

In pure panel data, we are using the same units e.g we can take data on genders in schools A, B and C in 2020 and collect data from the same schools in 2023. Therefore the main difference is just the units we observe.

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3 years ago

If a company is eliminating certain models of a product and cutting back on expenditures, the product is most likely in the ____

Airida [17]

I would have to say decline

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3 years ago

Strategies on how businesses can cope with financial strain

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3 years ago

Kate's Diner offers one breakfast item, a breakfast special. The market price for this meal is $5. At her profit-maximizing leve

bazaltina [42]

Answer:

keep producing in the short run but exit the industry or go out of business in the long run

Explanation:

A perfect competition is characterised by many buyers and sellers of homogeneous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.

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6 0

3 years ago