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DerKrebs [107]
3 years ago
12

Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During Jun

e, Ming Chen (the owner) completed these transactions. ok ht inces
a. Owner invested $60,000 cash in the company along with equipment that had a $26,000 market value in exchange for its common stock.
b. The company paid $2,700 cash forfrent of office space for the month.
c. The company purchased $14,000 of additional equipment on credit (payment due within 30 days).
d. The company completed work for a client and immediately collected the $2,600 cash earned.
e. The company completed work for a client and sent a bill for $7,700 to be received within 30 days.
f. The company purchased additional equipment for $5,100 cash.
g. The company paid an assistant $4,000 cash as wages for the month.
h. The company collected $4,300 cash as a partial payment for the amount owed by the client in transaction e.
i. The company paid $14,000 cash to settle the liability created in transaction c.
j. The company paid $1,100 cash in dividends to the owner (sole shareholder). ad time
Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign.)
Business
1 answer:
stepan [7]3 years ago
7 0

Answer:

I used an excel spreadsheet because there is not enough room here.    

Explanation:

Download pdf
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Answer:

E. He is not accounting for the new consumers who will benefit from being able to consume the product.

Explanation:

With the increase in price of product, Demand equals Supply i.e., no shortage exists in the market. Thus, the equilibrium level is achieved at price of $ 10. Further, The most important advantage of increasing the price in the given question is that shortage which exists earlier no longer remains now which will benefit all the consumers including some new consumers as they will able to get the sufficient number of quantities of product for the consumption now. Financial Head of Firm is ignoring the new consumers who will benefit from able to consume the product.

Therefore, He is not accounting for the new consumers who will benefit from able to consume the product.

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What is meant by the term "piercing the corporate veil"?select one:a.corporate directors and/or officers may be held personally
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Explanation:

Value proposition refers to the promise

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Since Clay looked through ten different propositions and found them to all be ineffective, the reason attributed to this will be due to the fact that the propositions were generic, and had no unique value communicated.

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marin [14]

Answer:

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Explanation:

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