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
Marrrta [24]
2 years ago
13

ABC Services reported the following transactions for September, 2013. A) The owner opened the business with a capital contributi

on of $23,500 cash. It was credited to Capital. B) The business purchased office equipment for $11,500. The business paid $2,500 cash down and put the balance on a note payable. C) The business paid insurance expense of $1,350 cash. D) The business paid a utility bill for $980 cash. E. The business paid $2,000 cash for September rent. F. The business had sales of $12,000 in September. Of these sales, 60% were cash sales, and the balance was credit sales. G. The business paid $9,700 cash for office furniture. What are the total liabilities at the end of September, 2013
Business
1 answer:
NemiM [27]2 years ago
8 0

Answer:

ABC Services

The total liabilities at the end of September, 2013

= $9,000

Explanation:

a) Data and Calculations:

Capital contribution = $23,500

Equipment = $11,500

Cash payment for equipment = $2,500

Note payable on equipment = $9,000

Insurance expense paid = $1,350

Utility expense paid = $980

Rent paid = $2,000

Sales = $12,000

Cash Sales = $7,200 (60% of $12,000)

Credit Sales = $4,800 (40% of $12,000)

Office furniture paid = $9,700

Therefore, total liabilities at the end of September, 2013 = $9,000.  This represents the note payable for the office equipment purchased in B.

You might be interested in
Population of household composition, price of real estate in the area, availability of mortgage credit, consumer tastes, and inc
Viefleur [7K]

Answer:

Demand.

Explanation:

Population of household composition, price of real estate in the area, availability of mortgage credit, consumer tastes, and income of consumers are all indicators of demand.

Demand can be defined as an economic principle which involves the willingness of a customer to pay an amount of money (price) for a desired goods or services it need or requires.

Simply stated, demand for goods and services rest solely upon the consumer of such goods and services.

6 0
2 years ago
26. Given a normal market supply curve for ice cream, if the surgeon general states that ice cream causes cancer, then:________
Anvisha [2.4K]

Answer:

B) there is a decrease in the quantity supplied of ice cream

Explanation:

normal market supply curve provide the relationship between quantity supply and the price of the community.

In this question the ice cream is the quantity supply,Given a normal market supply curve for ice cream,

In case, surgeon general states that ice cream causes cancer, then there will be decrease in the quantity supplied of ice cream because the value(price) has decreased then the quantity supplied of ice cream decreases.

3 0
3 years ago
Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies fo
Vladimir79 [104]
You’re answer is 91928393819
6 0
3 years ago
Which investment option has the highest risk ?
Flauer [41]
Buying is the highest risk investment because the outcome is unknown and you have to take a gamble.
8 0
1 year ago
A written and signed document between an employer entity and a labor organization specifying the terms and conditions of employm
Eduardwww [97]

Answer:

A written and signed document between an employer entity and a labor organization specifying the terms and conditions of employment for a specified period of time is known as a collective bargaining agreement.

Explanation:

The reason why it is collective bargaining agreement is because it binds two or more entities which makes it to be collectively agreed

6 0
2 years ago
Other questions:
  • You just purchased a three-month BP call option (exercise price $75) and a three-month BP put option (exercise price $75). The c
    11·1 answer
  • Candlewood LLC started business on September 1, and it adopted a calendar tax year. During the year, Candlewood incurred $6,500
    6·1 answer
  • Given the relations: STUDENT (SID, StudentName, Major, AdvisorID) ADVISOR (AdvisorID, AdvisorName, Office, Phone) such that each
    9·1 answer
  • What you have found in your review regarding accounting issues; What you believe the appropriate accounting treatment should be
    7·1 answer
  • Keynes explained that recessions and depressions occur because of a. excess aggregate demand. b. inadequate aggregate demand. c.
    13·1 answer
  • For financial reporting purposes, an advance payment for services is NOT recorded as a revenue, but rather recorded as a(n) . It
    6·1 answer
  • The following data are taken from the financial statements of Marigold Company: 2022 2021 Average accounts receivable $539,000 $
    9·2 answers
  • A US firm is bidding for a contract required by the Swiss government. The firm will not know until three months from now, whethe
    12·1 answer
  • Which of the following statements is CORRECT?
    9·1 answer
  • Which brokers allow residents to hold trading accounts
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!