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3 years ago

Jameson Corporation was organized on May 1. The following events occurred during the first month.

Business

1 answer:

olya-2409 [2.1K]3 years ago

7 0

Answer:

Date General Journal Debit Credit

a. Cash $70,000

Common stock $5,000

(5*100 shares * $10)

Additional paid - in - capital $65,000

b. No journal entry required - -

c. Cash $18,000

Notes payable (long term) $18,000

d. Equipment $11,000

Cash $1,500

Notes payable (Short term) $9,500

e. Notes receivable $2,000

Cash $2,000

f. Store fixtures $15,000

Cash $15,000

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Suppose the demand for good X is given by Qd x = 10 - 2Px + Py + M. The price of good X is $1, the price of good Y is $10, and i

tekilochka [14]

Answer:

Option D.

Explanation:

The demand function for good X is

$Q_x^d=10-2P_X+P_Y+M$

where, $P_X$ is price of good X, $P_Y$ is price of good Y and M is income.

It is given that the price of good X is $1, the price of good Y is $10, and income is $100.

Substitute $P_X=1$ , $P_Y=10$ and M = 100 in the given function.

$Q_x^d=10-2(1)+(10)+(100)$

$Q_x^d=10-2+110$

$Q_x^d=118$

None of the statements associated with this question are correct.

Therefore, the correct option is D.

3 0

3 years ago

A company produces very unusual CD's for which the variable cost is $ 17 per CD and the fixed costs are $ 30000. They will sell

Alika [10]

Answer:

Explanation:

Let we assume the number of CD produced be X

So, the total cost would be

C = Fixed cost + variable cost × number of CD produced

= $30,000 + $17X

For total revenue, it would b

R = $63X

For total profit, it would be

P = Selling cost per CD × number of CD produced - variable cost per CD × number of CD produced - fixed cost

= $63X - $17X - $30,000

= $46X - $30,000

For number of CD, it would be

0 = $46X - $30,000

X = $30,000 ÷ $46

= 652 CD for break-even

4 0

2 years ago

Name any four examples of economically marginalised group

ohaa [14]

Answer:

Here is a sample of the most common marginalized groups:

GLBT.

Senior citizens.

Racial/Cultural minorities.

Military Combat Veterans.

Persons of below average intelligence.

Hearing, visually, and Physically Challenged Persons.

Persons with a serious and Persistent Mental Illness (SPMI)

Persons with Cognitive Impairments.

6 0

2 years ago

ABC Co. purchased equipment for $72,000 on January 1, 2017. The equipment is expected to have a five-year life and a residual va

Korvikt [17]

Answer:

Depreciation expense for 2017: $26,400

The book value of the equipment at December 31, 2017: $45,600

Explanation:

Under the straight-line method, useful life is 5 years, so the asset's annual depreciation will be 20% of the Depreciable cost.

Depreciable cost = Total cost of the equipment - Residual value = $72,000 - $6,000 = $66,000

Under the double-declining-balance method the 20% straight line rate is doubled to 40% - multiplied times the Depreciable cost's book value at the beginning of the year.

Depreciation expense for 2017 = 40% x $66,000 = $26,400

Accumulated depreciation at December 31, 2017 = $26,400

Book value of the equipment at December 31, 2017 = Cost of the equipment - Accumulated depreciation at December 31, 2017 = $72,000 - $26,400 = $45,600

6 0

2 years ago

How can business activity affect the government?

algol13

Businesses often engage in a variety of tactics to influence government policy. This includes lobbying, political contributions, and interest group politics.

8 0

2 years ago