Answer:
Journal Entries
Date Account Titles and Explanation Debit Credit
Oct. 1 Cash $34,040
Common Stock $34,040
(To record the cash is invested in the business)
Oct. 2 No Journal Entry $0
Oct. 3 Office Furniture $4,110
Accounts Payable $4,110
(To record the purchase of office furniture on account)
Oct. 6 Accounts Receivable $10,780
Service Revenue $10,780
(To record the services provided but cash is not yet collected)
Oct. 10 Cash $165
Service Revenue $165
(To record the services provided by cash)
Oct. 27 Accounts Payable $690
Cash $690
(To record the payment made on accounts payable
relating to office furniture)
Oct. 30 Salaries Expense $2,740
Cash $2,740
(To record the payment of salaries to the assistant)
Answer:
$127,700
Explanation:
Bramble Corp stockholders’ equity section of the balance sheet
Stockholders’ equity
Paid-in Capital
Capital Stock
Common Stock 59,950
Additional Paid-in Stock
Paid-in Capital in Excess of Par Common Stock 33,400
Total paid in Capital 93,350
Retained Earnings 47,000
Total paid in Capital and Retained Earnings 140,350
(93,350+47,000)
LessTreasury Stock 12,650
Total Stockholders’ equity 127,700
(140,350-12,650)
Answer:
Consider the calculations below
Explanation:
(1) Nominal GDP, year 2 ($) = Sum of (Year 2 price x Year 2 quantity)
= 125 x 1.5 + 825 x 90
= 187.5 + 74,250
= 74,437.50
(2) Real GDP, year 2 ($) = Sum of (Year 1 price x Year 2 quantity)
= 1 x 125 + 45 x 825
= 125 + 37,125
= 37,250.00