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NeTakaya
2 years ago
7

David Segal started a business. During the first month (October 20--), the following transactions occurred.

Business
1 answer:
zloy xaker [14]2 years ago
8 0

Answer:

Assets = Liabilities + Owner’s Equity (Capital – Drawing + Revenues – Expenses) = $17,017

Explanation:

Note: See the attached xlsx file for the effect of each transaction on the individual accounts of the expanded accounting equation and the report of the total of each element.

In the attached xlsx file, transaction (c) is treated in such a way that the insurance for the month of October 20—is accounted for under the following:

Prepaid Insurance = One-year insurance premium - (One-year insurance premium / Number of months in a year) = $1,000 - ($1,000 / 12) = $1,000 - $83 = $917

Expenses = One-year insurance premium / Number of months in a year = $1,000 / 12 = $83

Download xlsx
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Part A Smith Company experienced the following accounting events during 2018:
ValentinkaMS [17]

Answer:

1. Cash (Dr.) $2,000

Common Stock (Cr.) $2,000

2. Accounts Receivable (Dr.) $1,500

Revenue (Cr.) $1,500

3. Cash (Dr.) $1,200

Accounts Receivable (Cr.) $1,200

4. Salaries expense accrued (Dr.) $900

Salaries payable (Cr.) $900

5. Salary Payable (Dr.) $700

Cash (Cr.) $700

6. Dividends paid (Dr.) $100

Cash (Cr.) $100

7.Prepaid Insurance (Dr.) $360

Cash (Cr.) $360

8. Cash (Dr.) $2,880

Unearned revenue (Cr.) $2,880

9. Insurance Expense (Dr.) $290

Prepaid Insurance (Cr.) $290

10. Unearned revenue (Dr.) $2,880

Revenue (Cr.) $2,880.

Explanation:

Smith company has started its business and incurred the transactions. These transactions need to be recorded to charge each and every expense in their respective accounts. The expenses are recorded in the journal entries and then ledger accounts will be formed to summaries all the expenses in their respective account heads.

6 0
3 years ago
HH is a 68 yo M who has been admitted to the medical ward with community-acquired pneumonia for the past 3 days. His PMH is sign
Pachacha [2.7K]

Answer: weakened host immune system and other factors like his anti-hypertensive medications predisposed Mr HH to community acquired pneumonia.

Explanation:

Having a past medical history of

Chronic Obstructive pulmonary disease (COPD), Hypertension, Hyperlipidemia and diabetes, Me HH has a higher risk of developing community acquired pneumonia through the following ways...

Having a past medical history of Chronic obstructive pulmonary disease ascertains that he might have the bacteria Streptococcus pneumoniae, Haemophilus influenzae, Chlamydia pneumoniae, Mycoplasma pneumoniae, and Legionella pneumophila which are the main causative organism of pneumonia and therefore will vkme down with community acquired pneumonia once the immune system is compromised.

Hypertension predisposes Mr HH to community acquired pneumonia through the use of certain anti-hypertensive medications like calcium channel blockers which tends to decrease phagocyte function and host defence.

Digoxin a cardiac glycoside decreases the clearance of pneumococci from lower respiratory tree.

Delayed emptying of the stomach with comes with diabetes can lead to aspiration this further resulting In pneumonia (community acquired pneumonia)

Diabetes and Hyperlipidemia impairs neutrophils and monocytes (macrophages) function thereby wearing the host immune response and further encouraging micro organisms that cause pneumonia to thrive.

8 0
3 years ago
Jim and Lisa own a dog-grooming business in Champlain, New York, called JL Groomers. There are many buyers and many sellers in t
Elza [17]

The answer is marginal revenue (MR) curve above $22.

Explanation:

Jim and Lisa Groomers will maximize its accounting profit when taking it to 0 its economic profits when marginal revenue = marginal costs.

Economic profits are not the same as accounting profits because they include the opportunity costs of investing the money somewhere else. That is whythe long run firm is not able to make economic profits since as they exist, new competitors will enter the market. But in the case of the shoert run, the firms are able to make economic profit, but by doing so, they cannot maximize their accounting profit.

Economic profit = account profit = Opportunity profit

Opportunity cost are extra costs or benefitslost from choosing one activity or investment over another one.

3 0
3 years ago
According to the Business Case for CSR, a reason companies are becoming more socially responsible is all of the following except
denis-greek [22]

Answer:

d. Access to capital

Explanation:

Corporate social responsibility (CSR) is characterized as a program of activities to lessen external costs. it is also an approach, practice, speculation and solid outcome sent and accomplished by a business organization in the quest for its partners' interest.

3 0
2 years ago
Qu. 13-95 (Algo) Two products, QI and VH, emerge from a joint process... Two products, QI and VH, emerge from a joint process. P
Andrews [41]

Answer and Explanation:

The computation of the financial advantage or disadvantage is as follows:

<u>Particulars                                              Product Q1 </u>

Selling price after further processing  13.00

Selling price at split off point                 11.00

Incremental revenue per pound or gallon 2.00

Total production                                    2,200.00

Total Incremental Revenue                 4,400.00

Total Incremental Processing costs        10,200.00

Total Incremental profit or loss                   (5,800.00)

Since there is an incremental loss so the same would be Sold at split off

7 0
3 years ago
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