Answer:
a. On September 1, paid rent on the track facility for six months at a total cost of $12,000.
September 1
Dr Prepaid rent 12,000
Cr Cash 12,000
September 30
Dr Rent expense 2,000
Cr Prepaid 2,000
b. On September 1, received $60,000 for season tickets for 12-month admission to the race track.
September 1
Dr Cash 60,000
Cr Deferred revenue 60,000
September 30
Dr Deferred revenue 5,000
Cr Revenue 5,000
c. On September 1, booked the race track for a private organization that will use the track one day per month for $2,000 each time, to be paid in the following month. The organization uses the track on September 30.
September 30
Dr Accounts receivable 2,000
Cr Revenue 2,000
d. On September 1, hired a new manager at a monthly salary of $3,000, to be paid the first Monday following the end of the month.
September 30
Dr Wages expense 3,000
Cr Wages payable 3,000
<span>The action in 2008 in which milk prices increased and one milk consumer stated that the reason he cut down on milk consumption is so that he could drive his car represents </span>movement along the demand curve for milk.
<span>Movement along the demand curve usually occurs when the manufacturer raises or lowers the price of the product.</span>
Well it basically both answers because if a well known criminal gets a good lawyer then the criminal won’t be put behind bars, but if it gets a bad layer the criminal will be put in jail so both
Answer:
1. Communicate. Families have their own way of communicating, and, as many family therapists will tell you, it is not always the best way. Defy convention and make open, regular communication an essential part of your family business. When you sense communication problems, confront them immediately. Larger issues at play? Bring in an outside consultant.
2. Set boundaries. Leaders of flourishing family-owned businesses know that setting boundaries is critical to establishing and maintaining success. Institute and uphold a clear separation between family and business. In other words, keep family issues out of the boardroom, and keep work at the office.
3. Practice good governance.Setting boundaries also extends to the governance of family-run companies. Good governance requires the involvement of leaders outside the family. This oversight—employed by leading family businesses worldwide—typically takes the shape of a professional, advisory, or supervisory board comprised of non-family members with a limited number of family representatives.
Explanation:
Answer and Explanation:
The journal entries are shown below:
1 Cash $9,000
To Land $7,200
To Gain on Disposal $1,800
(Being the land is sold is recorded)
2 Cash $22,900
To Common Stock $22,900
(being the issuance of the common stock is recorded)
3 Depreciation Expense $16,600
To Accumulated Depreciation - Buildings $16,600
(being depreciation expense is recorded)
4 Salaries and Wages Expense $7,000
To Cash $7,000
(being salary paid is recorded)
5 Equipment $9,200
To Common Stock $1,100
To Paid in capital in excess of par-Common stock $8,100
(Being the common stock issued for the equipment)
6 Cash $1,728
Accumulated Depreciation-Equipment $10,080
Loss on Disposal $2,592
To Equipment $14,400
(being equipment sold is recorded)