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Makovka662 [10]
3 years ago
15

Paid Rs.700 as rent of the house occupied by the proprietor for personal use​

Business
1 answer:
Pani-rosa [81]3 years ago
4 0

Answer:

see below

Explanation:

In this transaction, Rs. 700 is used to pay for rent that the proprietor uses for personal use. The transaction will be captured in the drawings account. A drawing account is used to track all the money owners take from a business for personal use. The amount taken to pay rent, Rs. 700 will be debited  Drawings A/c.

The transaction will decrease cash ( asset account) by Rs. 700. A decrease in assets is credited. Therefore, the cash account will be credited by Rs.700

The journal entry will be

Drawings A/c Dr.   Rs.700

Cash A/c.                          Cr  Rs.700

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A VC investor has invested $5 million in the preferred stock of a venture that is now being acquired for $50 million. The invest
Scorpion4ik [409]

Answer: $12.5 million

Explanation:

The best payoff the VC investor can get from the acquisition will be:

From the question, we've two options. The first option using the 2x Liquidation Preference will give a payoff of:

= 2 × $5 million

= $10 million

The second option using 25% of Common Shares will give a payoff of:

= 25% × $50 million

= 0.25 ÷ $50 million.

== $12.5 million

Therefore, the best Payoff is $12.5 Million.

4 0
3 years ago
Which of the following is an example of a deferral? A : recording revenues that have been earned on account B : expensing wages
MrMuchimi

Answer:

C : expensing a part of the cost of a building

Explanation:

A deferral is an amount of money that was earned or paid but that would be included in the income statement in a future accounting period. According to this, the answer is expensing a part of the cost of a building because the company pays the cost of the building but includes a part of it in the current period and the remaining will be recorded in a future period.

3 0
3 years ago
Madison Corporation's production cycle starts in the Processing Department. The following information is available for April: Un
charle [14.2K]

Answer:

Equivalent Units of Production :

(1) Materials = 298000

(2) Conversion Costs = 284400

(3) Total = 582400

Explanation:

The Concept of Equivalent Units entails identifying number of completed units in terms of their completion % in the input component or process.

<em>Step 1 : Determine Units Completed and Transferred to Finished Goods</em>

<em>Units in Process = Units Output</em>

Units In Process                                298000

Less Closing Work In Process            34000  

Completed and Transferred             264000 (Balancing figure)

<em>Step 1 : Determine Equivalent Units for each input component</em>

Materials:

Completed and Transferred 100% = 264000×100%= 264000

Closing Work In process 100% = 34000×100%= 34000

Total = 298000

Conversion Costs:

Completed and Transferred 100% = 264000×100%=264000

Closing Work In process 60%=34000×60%=20400

Total =284400

5 0
3 years ago
The purpose of a ________ group is to protect data and information assets by establishing data standards and data management pra
Citrus2011 [14]

The purpose of a data administration group is to protect data and information assets by establishing data standards and data management practices and policies

8 0
4 years ago
The day-to-day living conditions of modern Americans are very different from what they were in the 20th century. While doing res
wariber [46]

Answer:

To the first question: C)  C. There has been economic growth in our society.

To the second question: E). Economics.

Explanation:

To the first question:

A is false because there has been several recessions in the past 100 years

B is false because markets have failures, causing the recessions mentioned above.

D is false because there are still poor countries, and the concept of "invisible hand" isn't properly explained

To the second question:

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En option A they talk about the monetary variable and status of the GDP (recession is associated as decreasing in GDP)

Option B talks about the markets.

C outright spells "economic"

D "the invisible hand" is a concept invented by Adam Smith, the father of modern economics

6 0
4 years ago
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