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Arturiano [62]
3 years ago
10

Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions occurred and

were recorded in the company's books:
1. Andrea invested $13,500 cash in the business.
2. Andrea contributed $20,000 of photography equipment to the business.
3. The company paid $2,100 cash for an insurance policy covering the next 24 months.
4. The company received $5,700 cash for services provided during January.
5. The company purchased $6,200 of office equipment on credit.
6. The company provided $2,750 of services to customers on account.
7. The company paid cash of $1,500 for monthly rent.
8. The company paid $3,100 on the office equipment purchased in transaction #5 above.
9. Paid $275 cash for January utilities.

Based on this information, the balance in the A. Apple, Capital account reported on the Statement of Owner's Equity at the end of the month would be:

A. $31,400.
B. $39,200.
C. $31,150.
D. $40,175.
E. $30,875.
Business
1 answer:
Tamiku [17]3 years ago
3 0

Answer: D. $40,175

Explanation:

The balance in the Capital account reported on the Statement of Owner's Equity will include the Capital contributions of Andrea Apple to the business as well as the Net income from operations also known as Retained Earnings.

The Net Income for the month will be revenue less expenses.

Revenue

$5,700 cash and $2,750 on account for services provided in January.

Revenue is therefore,

= 5,700 + 2,750

= $8,450

Expenses

Expenses include the rent paid of $1,500 and the $275 paid for January Utilities.

= 1,500 + 275

= $1,775

Net Income = Revenue - Expenses

Net Income = 8,450 - 1,775

Net Income = $6,675

The Capital that Mr. Apple brought into the business refers to anything he contributed to the business whether in cash or otherwise.

The Capital therefore is,

- The $13,500 cash and the $20,000 worth of equipment.

The Capital Mr. Apple brought into the business is therefore,

= 13,500 + 20,000

= $33,500

The balance on the capital account will therefore be,

= Capital + Net Income

= 33,500 + 6,675

= $40,175

Option D. is correct.

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Answer:

Trace the evolution of legal status of American unions.

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What activities were restricted by laws and courts?

Using the members dues for political purposes.

Did constraints increase or decline with time?

They have decline.

Explanation:

- The first union to get legal right was the National Labor Relations Act of 1935, or the Wagner Act, which at the time was considered the "Labor Bill of Rights", guaranteed the basic rights of employees to organize into unions, collectively bargain for better working conditions, and take collective action.

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- States and public-sector unions may no longer extract agency fees from nonconsenting employees,” Justice Samuel A. Alito Jr. wrote for the majority. “. . . This procedure violates the First Amendment and cannot continue.”

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3 years ago
Find the selling price cost to store $20 mark up 15%
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Explain corporate bond interest in terms of cost of capital versus investor yields. also, explain the municipal bond interest in
astraxan [27]

A sort of financial product sold to investors is a corporate bond, which is issued by a business. The investor receives a predetermined amount of interest payments at either a fixed or variable interest rate in exchange for providing the firm with the money it requires.

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The ability of the corporation to repay the bond often serves as its security, and this ability is based on its expectations for future revenues and profitability. Physical assets of the corporation may occasionally be utilized as collateral.

A state, municipality, or county may issue municipal bonds as a debt security to pay for capital projects like building roads, bridges, or schools. They can be compared to loans given to local governments by investors.

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2 years ago
Mike is driving over to his girlfriend's apartment and decides to buy some gum. He could stop in a gas station, go to any grocer
stepan [7]

Answer:

Intensive.

Explanation:

In this scenario, Mike is driving over to his girlfriend's apartment and decides to buy some gum. He could stop in a gas station, go to any grocery store, go to any discount store, or even buy some out of a vending machine. The reason Mike has so many options to buy gum is because chewing gum companies strive for intensive channel coverage.

An intensive channel coverage is a sales method which is typically focused on providing varieties of sales outlets or channels for customers to buy their desired products.

Companies operating under the intensive channel coverage, are usually aimed at saturating the market with their products, by using all available sales outlets.

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3 years ago
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steposvetlana [31]

Answer and Explanation:

The journal entries are shown below;

On March 1

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On April 1

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(Being the common stock issued is recorded)

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Machinery $155,000

 To Common Stock (2,400 ×$20) $48,000

 To Notes payable $93,000

  To Paid in capital in excess of par value $57,000

(Being the shares are issued)

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3 years ago
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