Answer:
Explanation:
Journal entries:
Oct 1
Dr Cash 41,000
Cr Common stock 41,000
Oct 2
No entry
Oct 3
Dr Equipment 4,400
Cr Accounts payable 4,400
Oct 6
Dr Accounts receivable 13,000
Cr Sales 13,000
Oct 10
Dr Cash 170
Cr Service revenue 170
Oct 27
Dr Accounts Payable 880
Cr Cash 880
Oct 30
Dr Salaries expense 2,500
Cr Cash 2,500
Answer:
It will be regarded as inflow from financing activities
Explanation:
Since we are receiving money it is an inflow of cash. The bank can be regarded as a finance house. Since we are borrowing money and not buying assets this is regarded as a finance activity and this money will need to repaid in the future (finance from outside parties).
Answer:
December 1st
Explanation:
If an investor purchases ABC stock before the ex-date, he/she is entitled to the additional shares that will be assigned on the ex-date. But if an investor purchases the stock at the ex-date or after, he/she will not be entitled to any additional shares, since the ex-date is the first day the stock will not trade with a due bill.
Answer:
<u>price of the average transaction multiplied by the number of transactions must double</u>
Explanation:
This follows the principle of the Quantity theory of money. Thus according to this theory when the rate of change of the transactions of money in an economy has remain constant or unchanged, while the supply of increases twice as before it will result in a situation where;
the price of the average transaction multiplied by the number of transactions must double because of increase supply of money.
This simply implies that the more money in circulation, the more the price of goods and services in an economy.
