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UNO [17]
3 years ago
15

Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106);

Office Supplies (108); Office Equipment (163); Automobiles (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250); Common Stock (307); Dividends (319); Fees Earned (402); Salaries Expense (601); and Utilities Expense (602).
Business
1 answer:
GuDViN [60]3 years ago
8 0

Answer:

Eric Pense Journal Entries:

a. Dr Cash$23,000

Dr Office Equipment12,000

Cr Pense, Capital$35,000

b. Dr Land $8,000

Dr Building $33,000

Cr Cash$15,000

Cr Notes payable$26,000

c.Dr Supplies 600

Cr Accounts payable$600

d.Dr Automobile$7,000

Cr Capital$7,000

e.Dr Office Equipment$1,100

Cr Accounts payable$1,100

f.Dr Salary $800

Cr Cash$800

g.Dr Cash$2,700

Cr Fees Earned$2,700

h. Dr Utilities Expense$430

Cr Cash$430

i.Dr Account payable$600

Cr Cash$600

J. Dr Office Equipment $4,000

Cr Cash$4,000

k. Dr Accounts receivables$2,400

Cr Fees Earned$2,400

l. Dr Salary$800

Cr Cash$800

m. Dr Cash$1,000

Cr Accounts Receivable$1,000

n.Dr Pense, Withdrawal$1,050

Cr Cash$1,050

Explanation:

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George Scott hires Shannon Lang to sell his house, with the condition that he will not be the first one in the neighborhood to s
ddd [48]

Answer:

Inform Scott that the condition is illegal and that she cannot comply with it.

Explanation:

Based on the scenario being described within the question it can be said that Shannon should Inform Scott that the condition is illegal and that she cannot comply with it. This is because refusing to sell to someone based on any factors pertaining to the individuals, age, race, social class, ethnicity, religion, culture, etc. is discriminatory behavior and completely illegal.

5 0
4 years ago
Mikkelson Corporation's stock had a required return of 12.50% last year, when the risk-free rate was 3% and the market risk prem
hoa [83]

Answer:

Beta = 2

New required rate of return = 16.50%

Explanation:

In this question, we apply the Capital Asset Pricing Model (CAPM) formula which is shown below

Expected rate of return = Risk-free rate of return + Beta × (Market rate of return - Risk-free rate of return)

12.50% = 3% + Beta × 4.75%

12.50% - 3% = Beta × 4.75%

So, the beta would be 2

The (Market rate of return - Risk-free rate of return)  is also known as the market risk premium

Now the required rate of return would be

= 3% + 2 × 6.75%

= 3% + 13.50%

= 16.50%

7 0
3 years ago
Partnerships operate as both an entity and as a collection of individuals. When it comes to taxes, partnerships are a (an) _____
Arte-miy333 [17]

Answer:

The correct answers are "collection of individuals " and "pay no income tax".

Explanation:

A partnership itself does not pay income taxes directly. The partnership files an information return that allows it not to pay the income directly. However, while the partnership itself is not taxed on its income, each partner is taxed on his or her share of the partnership's income.

Have a nice day!

8 0
3 years ago
Crown Holdings Inc. manufactures a high-resolution, full-color digital inkjet printed cans that allows smaller beverage producer
MA_775_DIABLO [31]

Answer:

Just-in-time (JIT).

Explanation:

In this scenario, Crown Holdings Inc. manufactures a high-resolution, full-color digital inkjet printed cans that allows smaller beverage producers to label the cans as they are needed to be filled rather than keeping a stock of preprinted cans. This is an example of how a beverage company could use just-in-time.

Just-in-time (JIT) is an inventory management method used by a company wherein goods, products, components, and labor are made available exactly when needed or just few hours before they are needed in the production process.

It is an inventory management system that is adopted by companies to reduce wastage to the barest minimum and to increase operational efficiency as goods, materials and labor are scheduled for arrival when needed in the production line. Consequently, this would help to reduce or cut costs associated with storage of materials and inventory costs.

Between the 1960s and 1970s, The concept of just-in-time was developed by Toyota in Japan.

<em>Additionally, in order to maximize the benefits of the just-in-time method, it is very important and essential that their is a proper synchronization between the manufacturer (small beverage producers) and the supplier (Crown Holdings Inc.); manufacturing cycles and the delivery of goods, materials and labor. </em>

5 0
3 years ago
If consumers purchase fewer goods and services, then a likely outcome for our economy is
Oduvanchick [21]
<span>There are two possible outcomes that are dependent on the size of absence for consumer purchasing. If the size of absence is negligible, a noticeable supply and demand relation curve will be observed, decreasing prices so that others will buy more. If the absence is large, or in totality, then companies can not meet their baseline operations costs, which will cause many to lose their jobs, and ultimately lead to a recession, and a probable depression.</span>
3 0
3 years ago
Read 2 more answers
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