1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Goshia [24]
3 years ago
5

Journalize the following transactions for Cullumber Company.

Business
1 answer:
Thepotemich [5.8K]3 years ago
3 0

Answer and Explanation:

The journal entries are shown below

On Sept 1

Supplies Dr $1,020

    To Cash $1,020

(being supplies purchased in cash)

On Sept 5

Dividend Dr $410

   To cash $410

(being cash dividend is paid)

On Sept 7

cash Dr 5,500

   To Unearned service revenue  $5,500

(being cash collection is recorded)

On Sept 16

Cash Dr $770

  To Account receivable $770

(being cash collection is recorded)

On Sept 22

Equipment Dr $3,000

         To cash $1,100

         To Note payable $1,900

(being equipment purchased is recorded)

You might be interested in
What are consumer motives?
Marrrta [24]

Explanation:

The motivation for consumption comes from individual needs and desires, which may occur consciously and unconsciously. To meet their needs and wants, people identify and buy products and services that are compatible with their satisfaction.

There are several surveys and studies that seek to identify consumer behavior and explain how the purchasing decision process occurs. One of the most widespread theories in the world is Maslow's theory, which presented a hierarchy of needs that aims to identify a priority system of human needs satisfaction, divided into five parts, which are arranged in order of importance:

  1. physiological,
  2. safety,
  3. love,
  4. esteem and
  5. self-actualization

This theory is of great relevance to help marketers target their strategy according to the priority and need of individuals, including in their campaigns messages that send the consumer a sense of urgency for the product or service, directing marketing communication to the bottom of the hierarchy, which is the consumer's priority.

3 0
3 years ago
Department D had materials costs of $10,000 in beginning work in process inventory and added an additional $50,000 in materials
EastWind [94]

Answer:

The correct answer is $3

Explanation:

Cost per equivalent unit = Total costs / EUP for materials = ($50000+ $10000) / 20000 = $3

3 0
3 years ago
The price of gold is currently $1,400 per ounce. The forward price for delivery in one year is$1,500. An arbitrageur can borrow
Rashid [163]

Answer:

The arbitrageur should borrow money at 4% per annum since it is cheaper than paying the forward price for delivery

Explanation:

Current price of gold=$1,400 per ounce

Forward price=$1,500

The arbitrageur can either pay the forward price or borrow $1400 and pay the interest of 4% in a year. Consider option 1 paying the forward price of 1500

Option 1

Since there are no additional costs, the total cost for buying the gold=forward price=$1,500

Option 2

If the arbitrageur borrows the 1400 to pay for the gold now, then pay the interest in 1 year;

The total cost=Amount borrowed+interest accrued in 1 year

Total cost=1400+(4%×1400)

1400+((4/100)×1400)

1400+56=$1456

Since there are no additional costs, option 2=$1456

If we compare option 1 to option 2, we notice that option 2 is slightly cheaper than option 1 by $44

(Option 1-Option 2)=(1500-1456)=$44

The arbitrageur should borrow money at 4% per annum since it is cheaper than paying the forward price for delivery

8 0
2 years ago
The audit working papers often include a client-prepared, aged trial balance of accounts receivable as of the balance sheet date
Mars2501 [29]

Answer:

C. Estimate credit losses.

Explanation:

the client prepared aged triad balance of account receivable is generally included in audit documents so that the evaluation of estimated credit losses can be done.

Therefore, This aging is best used by the auditors to Estimate credit losses.

7 0
3 years ago
Green Field county stadium is planning to conduct a cricket match between two teams A and B. A large crowd is expected in the st
ANTONII [103]

Answer:

Mode Name: BS-485 Half Duplex Mode 2 wires

Reason 1:  less Noisy

Reason 2:  Allows upto 32 receivers

Explanation:

The BS-485 is an electrical interface, that supports half-duplex mode through 2 wires, and full-duplex mode through four wires. However, here, we only need the half-duplex mode, and that is enough as the recordings are to be shown on the screen, which is the receivers, and they do not need to talk to the transmitter, while the transmitter is transmitting the recordings to the screen. And since, BS-485 supports around 32 receivers, its more than enough for this question requirement. So its half-duplex mode, and an example of the Serial data transmission. And also, it's synchronous, as there is no stop in between the data packets.

4 0
3 years ago
Other questions:
  • A soft drink company has researched the possibility of marketing a new low-calorie beverage, in a study region. The expected pro
    15·1 answer
  • Arden Company reported the following costs and expenses for the most recent month: Direct materials $ 79,000 Direct labor $ 41,0
    7·1 answer
  • Whole Foods Market ordered 12 cases of organic vegetable soup with a list price of $18.90 per case and 8 cases of organic baked
    13·1 answer
  • A manufacturing company leases a building for $100,000 per year for its production facilities. In addition the machinery used in
    9·1 answer
  • Consider two very different firms, M and N. Firm M is a mature firm in a mature industry. Its annual net income and net cash flo
    6·1 answer
  • Figure your taxable income, subtract the sum of lines 8 and 9 from line 7, and then enter that number here
    12·1 answer
  • Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the f
    13·1 answer
  • Micro Corp. reported a statutory tax rate of 35% and an effective tax rate of approximately 15%. The current year's income state
    8·1 answer
  • A developer buys a large tract of land and plans to develop several single family homes. To proceed, ______________ is needed.
    6·1 answer
  • A firm's attempts to shorten the length of time a process takes, may lead to disappointing outcomes because of ______.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!