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IgorLugansk [536]
2 years ago
9

M2-9 Determining Financial Statement Effects of Several Transactions [LO 2-2] For each of the following transactions of Spotligh

ter, Inc., for the month of January, indicate the accounts, amounts, and direction of the effects on the accounting equation. A sample is provided. (Enter any decreases to account balances with a minus sign.) (Sample) Borrowed $3,940 from a local bank on a note due in six months. Received $4,630 cash from investors and issued common stock to them. Purchased $1,000 in equipment, paying $200 cash and promising the rest on a note due in one year. Paid $300 cash for supplies. Bought and received $700 of supplies on account
Business
1 answer:
Pepsi [2]2 years ago
5 0

Answer:

 Assets                   =          Liabilities          +          Stockholder's

                                                                                       Equity

(a) cash = $3,940             Notes payable = $3,940

                                         (short term)

(b) cash = $4,630                                                       Common

                                                                                  stock =$4,630

(c) Equipment = $1000     Notes payable = $800

   Cash = (-$200)               (short term)

(d) Supplies = $300

    Cash = (-$300)

(e) Supplies = $700          Accounts receivable = $700

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Answer:

The correct option is C,import quotas.

Explanation:

Import quota is an approach to prevent home industries from high foreign competition by placing a ceiling on the quantity of locally manufactured goods that can be imported.

By import quotas,the businesses are provided a level playing ground to thrive as they able to sell their products at reasonable prices and not chased out of business by foreign manufacturers that produce in large quantity at reduced cost in order to sell at a very competitive price.

7 0
2 years ago
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abares Corporation had these transactions during 2020. Indicate whether each transaction is an operating activity, investing act
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Answer:

(a) Issued $50,000 par value common stock for cash = Financing Activities

b) Purchased a machine for $30,000, giving a long-term note in exchange. Financing Activities = Non-cash Investing and Financing Activity

(c) Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000 =  Non-cash Investing and Financing Activities

(d) Declared and paid a cash dividend of $18,000 = Financing Activities

(e) Sold a long-term investment with a cost of $15,000 for $15,000 cash = Investing Activities

(f) Collected $16,000 from sale of goods = Operating Activities

Explanation:

The Cash flows related to raising of capital is known as Cash flow from Financing Activities.

The Cash flows related to growing and selling of Assets of the business is known as Cash flow from Investing Activities.

The Cash flow related to trade in Ordinary course business of the Company is known as Cash flow from Operating Activities.

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2 years ago
While preparing the annual advertising budget, Tracy, the chief marketing officer of an online furniture store, is deciding whic
LiRa [457]

Answer:

b. The resource allocator role

Explanation:

The resource allocator role -

It refers to the person , who represents and decides the resources , is referred to as the resource allocator .

All the resources and funds are handled by the resource allocator .

Any major decision or any confusion about the certain goods and services is resolved by the resource allocator .

Hence , from the given scenario of the question ,

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3 years ago
1. Assume you are planning to invest $200 each year for four years and will earn 8 percent per year. Determine the future value
Virty [35]

Answer:

The future value of the $200 invested yearly for 4 years at 8% is $973.32

Explanation:

The future value of an immediate annuity is given by the formula = (1+r)*[P*((1+r)^n-1)/r]

P=is the periodic payment of $200

r=rate of return=8 percent

n=number of years=4

By slotting the variables into the formula we have:

Fv=(1+0.08)*(200*((1+0.08)^4-1)/0.08)

FV=$973.32

Judging by the concept of time value of money, it is expected that the sum invested at interest would have been much more at maturity of the investment as $1 today should give a lot more than $1 in future.

6 0
3 years ago
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Livingston Fabrication has created the following aggregate plan for the next 5 months (see PDF): Assume that Livingston will hav
Andreyy89

Answer:

Explanation:

worker's production rate = 60/3 = 20units per hour

monthly capacity 160 x 20 = 3200 units.

capacity needed to produce 2000000 units

= 2000000/3200

= 625

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c) Average inventory in each of the months has been listed in the attachment below.

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