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Katen [24]
2 years ago
13

Determine what the net income or loss Use the business transactions below to: 1. Stockholders invest $40,000 in cash in starting

a real estate office operating as a corporation. 2. Purchased $500 of supplies on credit. 3. Purchased equipment for $25,000, paying $3,500 in cash and signed a 30-day, $21,500, note payable. 4. Real estate commissions billed to clients amount
Business
1 answer:
Angelina_Jolie [31]2 years ago
7 0

Answer:

the question is incomplete, so I looked for a similar one:

Real estate commissions billed to clients amount to $4,000. Paid $700 in cash for the current month's rent. Paid $250 cash on account for office supplies purchased in transaction 2. Received a bill for $800 for advertising for the current month. Paid $2,500 cash for office salaries. Paid $1,200 cash dividends to stockholders. Received a check for $2,000 from a client in payment on account for commissions billed

<u>Income statement</u>

Service revenue                             $4,000

Operating expenses:

  • Rent $700
  • Advertising $800
  • Office salaries $2,500         <u>($4,000)</u>

Net income                                          $0

Accrual accounting recognizes both expenses and revenues when they occur, not when a cash flow is associated to them. E.g. even though only $2,000 were paid by clients, the whole $4,000 must be considered revenue.

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3 years ago
Xyx Motors pays Nick $1,567.46 in dividends every year. If the dividend on one share of Xyx Motors is $4.33, how many shares doe
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Option C 362 Number of shares

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And the dividend per share = $4.33

By putting the values in the above equation we have:

Number of shares = $1567.46 / $4.33 = 362 Number of shares

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