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3 years ago

June 1: Byte of Accounting, Inc. Acquired $78,200 in cash from lauren and issued 3,400 shares of its common stock.

Business

1 answer:

Paha777 [63]3 years ago

8 0

Answer:

Question requires that a journal entry is done;

Date Account Title Debit Credit

June 1 Cash $78,200

Common Stock $78,200

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The following lists are nations with mixed economies. In which list is the free market most dominant?. . A. France, Canada, Sout

Marizza181 [45]

A free market is a type of economy which allows the manufacturers and consumers to interact resulting to the relationship between the supply and demand market. This is different from the command market in which the government controls solely. One of the countries with strong free market economy are B. US, UK, HK and Singapore.

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3 years ago

Brief Exercise 229 On January 1, the Biddle & Biddle, CPAs received a $7,500 cash retainer for accounting services to be pro

Gnoma [55]

Answer:

Debit Credit

Unearned revenue $2,500

($7,500/3)

Revenue $2,500

Explanation:

The following adjusting entry shall be recorded in the accounts of the Biddle and Biddle, on January 31, in respect of revenue earned by it from accounting services:

Debit Credit

Unearned revenue $2,500

($7,500/3)

Revenue $2,500

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3 years ago

It will cost $3,000 to acquire a small ice cream cart. Cart sales are expected to be $1,400 a year for three years. After the th

Cerrena [4.2K]

Answer:

2.14 years

Explanation:

Payback calculates the amount of time it takes to recover the amount invested in a project from it cumulative cash flows

Payback period = Amount invested / cash flows = $3,000 / $1,400 = 2.14 years

4 0

3 years ago

Determine the finance charge on a $6,500 loan with an interest rate of 9. 5% compounded monthly over 36 months. A. $27. 65 b. $2

Rudiy27

The amount of finance charges for the loan amount of $6,500 is $<em><u>17.15</u></em>

The finance charge is the extra amount for holding the loan amount until the maturity period. It is mostly the interest amount paid on the entire loan amount.

Computation:

Given,

$P$ Principal Amount =$6,500

$i$ Interest rate =9.5%

$n$ Period of compounding =36 months

First, the annuity formula will be used to determine the entire future value:

$\begin{aligned}A&=P\times(1+\frac{i}{n})\\&=\$6,500\times(1+\frac{0.095}{36})\\&=\$6,517.15\end{aligned}$

Now, the finance charge will be determined by the difference between the Annuity amount and Principal amount.

$\begin{aligned}\text{Finance Charge}&=A-P\\&=\$6,517.15-\$6,500\\&=\$17.15\end{aligned}$

Therefore, the finance charge is $17.15 is not mentioned in any of the given options.

To know more about finance charges, refer to the link:

brainly.com/question/298229

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3 years ago

Meiji Isetan Corp. of Japan has two regional divisions with headquarters in Osaka and Yokohama. Selected data on the two divisio

zaharov [31]

Answer: See explanation

Explanation:

1. The return on investment for Osaka will be:

= (816000/10200000) × (10200000 × 2550000)

= 32%

The return on investment for Yokohama will be:

= (3200000/32000000) × (32000000/16000000)

= 20%

2. See attachment

3. Yokohama’s greater amount of residual income is not an indication that it is better managed. Since Yokohama Division is bigger than Osaka Division, it's expected that Yokohama will have a greater residual amount.

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3 years ago