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Vinvika [58]
3 years ago
11

The following events occurred for Johnson Company: a. Received investment of $39,000 cash by organizers and distributed 1,190 sh

ares of $1 par value common stock to them.b. Purchased $7,100 of equipment, paying $1,300 in cash and signing a note for the rest.c. Borrowed $15,000 cash from a bank.
Business
1 answer:
soldi70 [24.7K]3 years ago
8 0

Answer:

Cash 39.000 debit

  Common Stock       1,190 credit

  Additional Paid-in 37,810 credit

Equipment  7,100 debit

  Cash                  1,300 credit

  Note payable   5,800 credit

Cash    15,000 debit

 Note payable 15,000 credit

Explanation:

We debit the cash received and credit the face value of the common stock

the difference is label as additional paid-in common stock which, is also credited.

as the equipment is worth 7,100 and we paid 1,300 cash the differnece: 7,100 - 1,300 = 5,800 is the principal of the note signed

As the equipment which enters the firm is  an asset it wil lbe debited.

the cash is being used thus, credited and the note is a liability hence credit as well

the third event consist of a inflow of cash thus debit and taking a liability therefore, credit.

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Which of the following statements are examples of labor except:
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Answer:

C) a group of church members gather clothes for a clothing drive for the poor in their community.

Explanation:

The stated example is and example of voluntary work, which by most statutes does not count as labor. Although volunteering is technically work, it does not count as labor as volunteers are not paid for what they do. Instead, they do it for an ethical purpose which is not related to getting money. Therefore, volunteers do not coun as the working labor force.

7 0
3 years ago
A computer accessory salesman attempts to convince you to purchase a "solar neutrino" shield for your new computer. (It's even "
Margaret [11]

Answer:

Because neutrinos rarely, if ever, interact with my computer.

Explanation:

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4 0
3 years ago
Candlewood LLC started business on September 1, and it adopted a calendar tax year. During the year, Candlewood incurred $6,500
SpyIntel [72]

Answer:

deduction for organizational expenses = $5,000

Explanation:

Since the total startup costs are over $50,000 then the company's deduction will be lower. Generally speaking, a company can deduct up to $5,000 in organizational an startup costs ($5,000 each). But if the costs are over $50,000, then your deduction will be reduced by $1 for each dollar over that threshold.

In this case, organizational costs were $9,500, so they can deduct $5,000 during the first year and $4,500 will be amortized over the next 15 years. Startup costs are $54,500, which means that they can only deduct $5,000 - ($54,500 - $50,000) = $500 during the first year. The remaining $54,000 must be amortized over a 15 year period. Total deduction during the first year = $5,000 + $500 = $5,500

8 0
3 years ago
Robert, the president of the labor union of a company, speaks to the management of the company about the requirement for an extr
vodomira [7]

Answer:

Taft-Hartley Act

Explanation:

Taft-Hartley Act is also known as the labour management relations act of 1947 and it restricts the activities and powers of labour unions. It stops unions for engaging in unfair labour practices such as jurisdictional strike, wild strike, political strike, secondary boycotts, and monetary donations to political campaigns.

Robert has violated the Taft-Hartley act by creating a fictional role in the company in order to get his cousin a job.

8 0
3 years ago
When a union in the U.S. is able to sell its labor to for-profit businesses, those business are likely to ________.
amm1812

If a union is able to sell its labor to a for-profit business, then the business is likely to D. pay wages above the market equilibrium for wages.

<h3>What do unions do?</h3>

Unions negotiate a higher rate of pay for their member thanks to their power to initiate industrial actions.

this means that when they are able to get a company to hire their members, that company would likely pay above the equilibrium wage in the market.

Options for this question at:

A. pay wages exactly where the demand and supply labor curves intersect

B. pay wages below the market equilibrium for wages

C. pay wages matching the preferred equilibrium wage chosen by these businesses

D. pay wages above the market equilibrium for wages

Find out more on the role of unions at brainly.com/question/881501.

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6 0
2 years ago
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