Answer:
Issued a check for $1,010 to pay the monthly rent
Account Debit Credit
Rent Expense $1,010
Bank $1,1010
Issued a $1,300 check to pay a creditor on account.
Account Debit Credit
Creditor $1,300
Bank $1,300
Purchased new equipment for $390 and paid $110 immediately by check with the remainder due in 30 days.
Account Debit Credit
Equipment $390
Bank $110
Accounts Payable $280
Provided services on credit in the amount of $860.
Account Debit Credit
Service Revenue $860
Accounts Receivable $860
Performed services for cash in the amount of $1,320.
Account Debit Credit
Service Revenue $1,320
Cash $1,320
The owner made an additional investment of $5,600 in cash and $1,050 in equipment.
Account Debit Credit
Cash $5,600
Equipment $1,050
Capital $6,650
Purchased $190 worth of supplies on credit.
Account Debit Credit
Supplies $190
Accounts Payable $190
Sent a $105 check to the utility company to pay the monthly bill.
Account Debit Credit
Utilities Expense $105
Bank $105
Collected $650 from credit customers.
Account Debit Credit
Cash $650
Accounts Receivable $650
Answer:
Remain same
Explanation:
In this situation, China makes tablets and smartphones only. The equipment used to manufacture these two products is nearly the same, the same collection of tools is equally useful in manufacturing both smartphones and tablets. So there is the constant opportunity cost of both commodities.
Resources are similarly appropriate for the manufacturing of two varied goods at a constant opportunity cost.
Therefore, the opportunity costs for additional smartphone remains the same.
Answer:
$5
Explanation:
Given that,
Asset turnover ratio = 0.5 times
Net profit margin = 10 percent
Average total assets = $100
Asset turnover ratio = sales ÷ Total asset
0.5 = sales ÷ $100
sales = $50
Profit margin = Net income ÷ sales
0.10 = Net income ÷ $50
Net income = $5
Therefore, the net income of GoodTimes, Inc. is $5.
Explanation:
Company strategies evolve because
of the ongoing need to respond to changing market conditions, the fresh moves of competitors, shifting buyer needs and preferences, emerging market opportunities, new ideas for improving the strategy, and any evidence that indicates the strategy is not working well.
