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ch4aika [34]
3 years ago
12

Exercise 2-5 Analyzing effects of a compound entry LO A1 Groro Co. bills a client $62,000 for services provided and agrees to ac

cept the following three items in full payment: (1) $10,000 cash, (2) equipment worth $80,000, and (3) to assume responsibility for a $28,000 note payable related to the equipment.
A) Analyze the transaction using the accounting equation.
Assets = Liabilities + Equity
Cash Equipment Note Payable Revenue
10,000 80,000 28,000 62,000
B) Record the transaction in journal entry form.
No Date General Journal Debit Credit
1 May 15 Cash 10,000
Equipment 80,000
Note payable 28,000
C) Post the entry using T-accounts to represent ledger accounts.
Cash 101 Note Payable
28000 10,000
Equipment 167 Revenue 404
80,000 62,000

Business
1 answer:
kondor19780726 [428]3 years ago
4 0

Answer:

A. Account Equation analyzation

Assets =  Liabilities + Equity

Cash + Equipment = Note payable + Revenue

$10,000 + $80,000 = $28,000 + $62,000

B. Journal Entry

DR Cash........................................................... $10,000  

DR Equipment.................................................$80,000  

CR Note payable..............................................................$28,000

CR Service revenue ........................................................$62,000

C. Find attached.

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faltersainse [42]

Answer:

MRPL= $200 = wage rate when there are 5 workers

and MRPL = $1,200 = wage rate when there are 2 workers.

Explanation:

The computation of unionized is shown below:-

Marginal revenue product of labor = Marginal product × Price per unit

Workers   Total Production    Marginal Product     MRPL

                   (per day)

a                    b                        b × $8

0                   0

1                   200                         200                      $1,600

2                   350                          150                      $1,200

                                               (350 - 200)

3                   450                           100                    $800

                                               (450 - 350)

4                   500                          50                        $40

                                               (500 - 450)

5                   525                           25                       $200

                                               (525 - 500)

6                    510                         -15                        -$120

                                               (510 - 525)

From the above table MRPL = $200 = wage rate when there are 5 workers

and MRPL = $1,200 = wage rate when there are 2 workers.

4 0
3 years ago
The following information pertained to Azur Co. for the year: Price of goods purchased $102,800 Price discounts 10,280 Freight-i
MrRissso [65]

Answer:

$118,220

Explanation:

The Costs of Goods Sold COGS is calculated using the following formula.

COGS = Beginning inventory + purchases - Ending Inventory

For Azur company

Beginning inventory:  30,840

Ending inventory : 20,560

Net purchases equal Net purchase equal to purchases plus freight-in minus discounts  freight-out are administrative expenses, hence do not feature in COGS

Net purchases =$102,800 + $15,420 -$ 10,280

Net purchases =$107,940

COGS = $30,840 +$107,940 -$20560

COGS = $118,220

7 0
3 years ago
Charlie sells cookies only in packages of 10. It costs him $3.50 in materials per package. Additionally, he has overhead costs o
yaroslaw [1]

Let x represent the number of packages Charlie needs to sell to make a monthly income of $5, 000 
Since he sells cookies only in packages of 10 then he has to sell 10x to make that income. But Charlie has expenses that has to be deducted from his total sales to make that figure.  
So the total expenses is $1, 500 in overhead and an extra $3.50 per material per package. So the total expenses = 1500 + 3.50x 
If he has to make $5, 000 at the end of the month we have
 10x - (1500 + 3.50x) = 5000
 10x - 1500 - 3.50x = 5000
 6.50x = 5000 + 1500 = 6500
 Solving we find:
 x = 1, 000 packages


5 0
3 years ago
What is the name of the Inca tot of stock market prices that averages 30 selected industrial stocks?
nydimaria [60]

Answer:

C

Explanation:

I'm smart boy that's y because y = u and u nedda pay attention in class blood

6 0
3 years ago
There are two ratios which are used to measure airline performance. one measures efficiency while the other measures equipment u
den301095 [7]

Operating ratio-measures the portion of operating revenue that goes to operating expenses, only revenue and expenses generated from passenger and freight transportation are considered

(operating expenses/operating revenue)*100

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(number of passengers/total number of seats)*100

All pilots should be interested in weight and balance control. The two changeable factors that can alter an aircraft's total weight and CG location are loading and fuel management, both of which are under the control of the pilot.

The owner or operator of the aircraft should guarantee that the pilots have access to current information and that the proper entries are made in the records when repairs or modifications are completed. The CG is altered as a result of equipment removal or addition.

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6 0
1 year ago
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