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3 years ago

During 2017, its first year of operations as a delivery service, Concord Corporation entered into the following transactions:

Business

1 answer:

Natasha2012 [34]3 years ago

3 0

Answer:

Concord Corporation

Transaction Assets = Liabilities + Stockholders' Equity

1 Assets (Cash +$181,000) = Liabilities + Stockholders' Equity (Common Stock +$181,000)

2 Assets (Cash +$54,000) = Liabilities (Bonds Payable +$54,000) + Equity

3 Assets (Delivery Trucks +$60,000, Cash - $60,000) = Liabilities + Equity

4 Assets (Cash + $17,000, Accounts Receivable -$17,000) = Liabilities + Equity

5 Assets (Supplies + $5,800) = Liabilities (Accounts Payable +$5,800) + Equity

6 Assets (Cash - $4,800) = Liabilities + Equity (Retained Earnings -$4,800)

7 Assets (Accounts Receivable + $11,000) = Liabilities + Equity (Retained Earnings + $11,000)

8 Assets (Cash - $29,300) = Liabilities + Equity (Retained Earnings + $29,300)

9 Assets (Cash - $10,700) = Liabilities + Equity (Retained Earnings + $10,700)

Explanation:

In accordance with the accounting equation, Assets are always equal to Liabilities + Equity with each given business transaction. The accounting equation reflects the double-entry system of accounting. It shows that two or more accounts are involved in any transaction and each transaction that is properly recorded keeps the equation in balance at all times.

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The first and most important step in the posting procedure is

Step2247 [10]

The answer is B. Posting the date.
Here's the sequence of posting procedures.
First, Posting the date.
Second, posting the amount of the transactions.
Third,posting the page number of the journal in the Post. Ref. column of the ledger account.
And lastly, recording the posting ref. information

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3 years ago

Which component of consumption has a negative or indirect relationship with consumption?

Sveta_85 [38]

Answer:

Interest rates

Explanation:

Here are the options to the question : o Interest rates o Real income Real income o Expected future income o Wealth

Disposable income is either saved or consumed. When interest rates fall, savings would fall as returns on investment would be lower and consumption would increase.When interest rates rise, savings would increase and consumption would fall

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2 years ago

4.The inflation rate in the U.S. is 3%, while the inflation rate in Japan is 1.5%. The current exchange rate is $1 equal to 105

Nana76 [90]

Answer:

103.4709

Explanation:

The computation is shown below:

Given that

U.S inflation rate = 3%

Japan inflation rate = 1.5%

Current exchange rate = 105

Now the new exchange rate for the yen is

= Current exchange rate × (1 + Japan inflation rate) ÷ (1 + U.S inflation rate)

= 105 × (1 + 1.5%) ÷ (1 + 3%)

= 105 × (1.015 ÷ 1.03)

= 105 × 0.985436893

= 103.4709

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3 years ago

You purchase one IBM July 120 put contract for a premium of $5. You hold the option until the expiration date when IBM stock is

grin007 [14]

Answer: Net loss = $2

Explanation:

Given that,

Purchase one IBM July 120 put contract for a premium of $5

IBM stock is at $123 per share on the market

In buying these kind of call option, a person can makes the profit if the future price of the share is greater than the strike price.

Here,

Profit = $123 - $120 = $3

But, we have to deduct the premium paid that is $5

Therefore,

Net loss = Profit - premium paid

= 3 - 5

=$2 ⇒ This much loss realize on a the investment.

4 0

3 years ago

Select all that apply. Select the items that describe what happens at the equilibrium price. Producers supply the exact goods th

malfutka [58]

Answers are:
Producers supply the exact goods that consumers buy.
Consumers have enough goods, at the given price
Producers use their resources efficiently

At the equilibrium price, the quantity bought= quantity sold. Consumers have enough goods at the given price, meaning that there isn't anyone who wants to buy the good at that price but can't, and producers use their resources efficiently.

The whole economy does not waste resources, since this is the market-efficient outcome, and there aren't many shortages or surpluses for the same reason.

5 0

3 years ago