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3 years ago

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)

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Vaughn Company has the following securities in its investment portfolio on December 31, 2020 (all securities were purchased in 2

vlabodo [156]

Answer:

Anderson Co. 3,100 shares at $18 per share

Munter Ltd. 10,200 shares at $57 per share

King Co. 5,600 preferred stock at $42 per stock

a. Prepare the entry for the security sale on January 15, 2021.

Dr Cash 58,880
Cr Investment in Anderson Co. stock AFS 52,200
Cr Realized gain on stock AFS 6,680

b. Prepare the journal entry to record the security purchase on April 17, 2021.

Dr Investment in Castle's stock AFS 38,160
Cr Cash 38,160

c. Compute the unrealized gains or losses.

unrealized gain = $40,800 (gain in Munter) - $11,200 (loss in King) - $13,960 (loss in Castle) = $15,640

d. Prepare the adjusting entry for Vaughn on December 31, 2021.

Dr Investment in Munter's stock 40,800
Cr Investment in King's stock 11,200
Cr Investment in Castle's stock 13,960
Cr Unrealized gain - other comprehensive income 15,640

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2 years ago

Pros and cons on outdoor advertising

Mademuasel [1]

If I'm correct-- by outdoor advertising do you mean commercials and ads encouraging people to go outside?

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3 years ago

List at least Two functional digital wallet

Ainat [17]

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2 years ago

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. Alternative A has a first cost of $20,000, an operating cost of $9,000 per year, and a $5,000 salvage value after 5 years. Alt

JulsSmile [24]

Answer and Explanation:

The computation is shown below:

NPW of X is

= -$20,000 - $9,000 × (P/A,12%,5) + $5,000 × (P/F,12%,5)

= -$20,000 - $9,000 × 3.604776 + $5,000 × 0.567427

= -$49,605.85

And,

NPW of Y is

= -$35,000 - $4,000 × (P/A,12%,5) + $7,000 × (P/F,12%,5)

= -$35,000 - $4,000 × 3.604776 + $7,000 × 0.567427

= -$45,447.11

Based on the above calculations as we can see that net present cost of Y is lower than the net present cost of X so Y should be selected

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3 years ago

A higher price point should create value for the customer. The buyers need to know that they are paying for __________, or an un

nlexa [21]

Answer:

Differentiation.

Explanation:

The concept of value for the customer corresponds to the expectation that the product will meet the needs, desires and features that he expects.

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