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Rufina [12.5K]
3 years ago
7

Received contributions of $ 10 comma 000$10,000 in exchange for common stock. a. Increase asset (Cash) ; Increase equity (Common

Stock) b. Purchased equipment for $ 5 comma 000$5,000 on account.
Business
1 answer:
MakcuM [25]3 years ago
6 0

Answer:

The answer is stated below:

Explanation:

A. Received or collected $10,000 in exchange of the common stock:

This transaction will have an impact on the Accounting Equation of the Accounts, which is :

Assets = Liabilities + Equity

As the cash is received, there will be an increase in the assets and under the cash account of the current assets. Though the cash is against the common stock, which increases the common stock account upon the side of the equity.

Therefore, it will be:

Increase in assets (Cash) : Increase in equity (Common Stock)

B. Bought the equipment on account worth $5,000.

This transaction will have an impact on the Accounting Equation as:

As the equipment is purchased will in turn lead to increase in the assets side, under the equipment account and it is purchased on account, which means on credit, that leads to increase in the liability under the Accounts Payable account.

Therefore, it will be:

Increase in assets (Equipment) : Increase in Liability (Accounts Payable)

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A simple Keynesian model follows four principles:

<span>1. Accumulated expenditures, income, and output are the same.
2. All input of spending into the economy must equal all withdrawals
3. Investment is an input.
4. Saving is a withdrawal</span>

<span>
According to Keynesian analysis, of households intend to save more, they will become poorer. The theory about Keynesian analysis applies to economic where an increase in savings decreases the circular flow of income. S when the households save more, they are reducing the stream of income for other households and therefor diminishes the overall economic activity.</span>

5 0
3 years ago
Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $3,200 of dir
maw [93]

Answer:

Total job Costs added to Work In Process in October=$ 21, 700

Explanation:

Jaycee Corporation

Direct Materials requisitioned $3,200

Direct labor $4,700  

Over head = 150% 0f $ 4700= $ 7050

Total Costs Added During September = $ 3,200+ $ 4,700+ $ 7050= $ 14950

Costs Added During October

Direct Materials $3,700

Direct labor $7,200  

Overhead = 150 % 0f $ 7,200 = $ 10,800

Total job Costs added to Work In Process in October= $ 3,700+ $ 7,200 + $10,800= $ 21, 700

7 0
3 years ago
A trial balance:_____.
kakasveta [241]

Answer:

d. All of these answer choices are correct.

Explanation:

There are two sections namely debit sections and credit sections. The total of debit and credit sections is always be matched and equaled

The debit sections reports assets and expenses side

whereas, the credit sections reports revenue, stockholder equity, and the liability side.  

Moreover, the balances are used to prepare the financial statement i.e income statement, balance sheet, etc

The trail balance is prepared three times i.e non adjusted, adjusted and the post-closing trail balance

8 0
3 years ago
Which of the following correctly defines a​ product?
Alisiya [41]

Answer: Option C            

                           

Explanation: In simple words, a product refers to an entity that that could be tangible or intangible and is produced by the manufacturer for satisfying the wants of its customers.

Hence anything that is offered to the market and has the ability to satisfy the needs of specified individuals will be classified as a product.

Thus, the correct option is C.

7 0
3 years ago
The Blanket Company (TBC) manufactures two types of blankets. One is made of nylon. The other is made of wool. The budgeted per-
Ksenya-84 [330]

Answer:

contribution margin of nylon blankets = $64

contribution margin of wool blankets = $120

annual fixed costs = $743,000

sales mix = 75% nylon blankets, 25% wool blankets

weighted contribution margin = ($64 x 75%) + ($120 x 25%) = $78

if TBC wants ot make $115,000 in profits it must sell:

= ($743,000 + $115,000) / $78 = 11,000 units

TBC must sell 2,750 wool blankets and 8,250 nylon blankets.

The Blanket Company (TBC)

Income Statement

Sales revenue                   $1,804,000

Variable costs                    <u>($946,000)</u>

Contribution margin            $858,000

Fixed costs                         <u>($743,000)</u>

Operating income                $115,000

4 0
3 years ago
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