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Inessa05 [86]
3 years ago
5

Transactions for Sheridan Company for the month of May are presented below. Prepare journal entries for each of these transactio

ns.
May 1 Stockholders invests $4,350 cash in exchange for common stock in a small welding corporation.
3 Buys equipment on account for $1,055. 13Pays $394 to landlord for May rent.
21 Bills Noble Corp. $530 for welding work done. (Use Service Revenue account.)
Business
1 answer:
babymother [125]3 years ago
6 0

Answer:

May 1

Cash $4,350 (debit)

Common Stock $4,350(credit)

May 3

Equipment $1,055 (debit)

Accounts Payable $1,055 (credit)

May 13

Rent Expense $394  (debit)

Cash $394  (credit)

May 21

Accounts Receivable : Noble Corp $530 (debit)

Service Revenue $530 (credit)

Explanation:

Note that, When stockholders invest cash in exchange of common stock, we recognize the increase in assets of cash and also the increase in equity item common stocks.

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The most complex level of culture is the culture trait.
xeze [42]

Answer:

False.

Explanation:

Culture trait is the simplest level of culture. It is an individual tool, act, or belief that is related to a particular situation or need. Using spoons and forks when eating is a culture trait. Another trait is the specific greeting used when meeting people. If you meet a pal, you probably say, “Hello”. On the other hand, when greeting the company's manager you would probably be quite formal. The greeting you use is related to the particular situation or need.

So, Individual culture traits combine to form the next level – culture complexes.

And culture complexes combine to form larger levels called culture patterns. These patterns form important components of a society’s culture.

5 0
3 years ago
There will be a lower equilibrium price and quantity if
denis23 [38]

Answer: demand decreases and supply stays the same

Explanation:

The equilibrium price refers to the price whereby the quantity of goods that's demanded and the quantity of goods that's supplied is equal.

On the other hand, the equilibrium quantity is gotten when the quantity of goods demanded and supplied are equal. This is gotten when the demand curve and the supply curve intersects.

It should be noted that there will be a lower equilibrium price and quantity if

In a situation whereby the demand increases and the supply remains the same, the equilibrium quantity and the equilibrium price will increase and vice versa.

8 0
3 years ago
Which of the following best describes a subsidy​? A. Banks make​ low-interest loans to farmers. B. The government puts a tax of​
diamong [38]

Answer:

C. The government pays farmers​ $100 per ton of wheat produced.

Explanation:

Subsidy is grant/ financial aid given by government to producers of a commodity, to enable its availability in markets at a lower price.

Government paying farmers $100 tone per wheat produced is a subsidy as : It is a financial assistance given by government to reduce wheat's price in markets.

Bank's low interest rate to farmers is just credit ease policy ; Govt putting a tax on wheat imports is opposite of subsidy ; Farmer paying govt $100 per unit wheat is also a form of tax (opposite to subsidy).

3 0
3 years ago
There may be a maximum balance requirement for a savings account.<br> True<br> False
luda_lava [24]

Answer:

true

Explanation:

For example, if a bank account has a $100 minimum balance requirement, you want to make sure that you don't let your balance fall to $99.99 or less.

4 0
3 years ago
Which type of power production produces the least amount of greenhouse gases?
weeeeeb [17]
I think the answer is Nuclear
5 0
3 years ago
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