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Veseljchak [2.6K]

3 years ago

5

3. Columbia Corporation deposited $2,000 in an account that pays 12% interest annually. If the interest is compounded continuous

ly, how much money will be in the account at the end of 20 years? a) $19,293 d) $22,704 b) $22,046 e) $22,900 c) $22,553

1 answer:

dangina [55]3 years ago

8 0

Answer:

should be the letter B. $22,046

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2 years ago

Denzel Brooks opened a Web consulting business called Venture Consultants and completes the following transactions in March Marc

san4es73 [151]

Answer:

1. Prepare general journal entries to record these transactions using the following titles:

March 1

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Dr Office Equipment (163) 26,000

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Cr Cash (101) 6,000

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Dr Office Supplies (124) 2,200

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March 6

Dr Cash (101) 4,500

Cr Services Revenue (403) 4,500

March 9

Dr Accounts Receivable (106) 10,900

Cr Services Revenue (403) 10,900

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Dr Accounts Payable (201) 6,000

Cr Cash (101) 6,000

March 19

Dr Prepaid Insurance (128) 6,400

Cr Cash (101) 6,400

March 22

Dr Cash (101) 4,000

Cr Accounts Receivable (106) 4,000

March 25

Dr Accounts Receivable (106) 5,330

Cr Services Revenue (403) 5,330

March 29

Dr Dividends (319) 5,400

Cr Cash (101) 5,400

March 30

Dr Office Supplies (124) 1,700

Cr Accounts Payable (201) 1,700

March 31

Dr Utilities Expense (690) 1,400

Cr Cash (101) 1,400

2. Post the journal entries from part 1 to the ledger accounts.

Account Description Debit Credit

101 Cash 175,000

6,000

4,500

6,000

6,400

4,000

5,400

<u> 1,400 </u>

101 Cash 158,300

106 Accounts Receivable 10,900

4,000

<u> 5,330 </u>

106 Accounts Receivable 12,330

124 Office Supplies 2,200

<u> 1,700 </u>

124 Office Supplies 3,900

128 Prepaid Insurance 6,400

131 Prepaid Rent 6,000

163 Office Equipment 26,000

<u> 3,800 </u>

163 Office Equipment 29,800

201 Accounts Payable 6,000

6,000

<u> 1,700 </u>

201 Accounts Payable 1,700

307 Common Stock 201,000

319 Dividends 5,400

403 Services Revenue 4,500

10,900

<u> 5,330 </u>

403 Services Revenue 20,730

690 Utilities Expense 1,400

3. Prepare a trial balance as of April 30.

Account Description Debit Credit

101 Cash 158,300

106 Accounts Receivable 10,900

106 Accounts Receivable 12,330

124 Office Supplies 3,900

128 Prepaid Insurance 6,400

131 Prepaid Rent 6,000

163 Office Equipment 29,800

201 Accounts Payable 1,700

307 Common Stock 201,000

319 Dividends 5,400

Retained earnings 11,000

403 Services Revenue 20,730

690 Utilities Expense 1,400

<u> </u>

TOTAL 234,430 234,430

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Answer:

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Explanation:

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3 years ago