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2 years ago

Record the following transactions for Summer Consulting. Explanations are not required.

Business

1 answer:

Anvisha [2.4K]2 years ago

8 0

Answer:

Apr. 15

Dr Accounts Receivable—Jones $1,500

Cr Service Revenue $1,500

Apr. 18

Dr Accounts Receivable—Cruise $865

Cr Service Revenue $865

Apr. 25

Dr Cash $750

Cr Accounts Receivable—Jones $750

Apr. 28

Dr Accounts Receivable—Taylor $625

Cr Service Revenue $625

Apr. 28

Dr Cash $865

Cr Accounts Receivable—Cruise $865

Apr. 30

Dr Cash $1,375

Cr Accounts Receivable—Jones $750

Cr Accounts Receivable—Taylor $625

Explanation:

Preparation of journal entries

Apr. 15

Dr Accounts Receivable—Jones $1,500

Cr Service Revenue $1,500

Apr. 18

Dr Accounts Receivable—Cruise $865

Cr Service Revenue $865

Apr. 25

Dr Cash $750

Cr Accounts Receivable—Jones $750

Apr. 28

Dr Accounts Receivable—Taylor $625

Cr Service Revenue $625

Apr. 28

Dr Cash $865

Cr Accounts Receivable—Cruise $865

Apr. 30

Dr Cash $1,375

Cr Accounts Receivable—Jones $750

Cr Accounts Receivable—Taylor $625

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It has to be the product chain

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2 years ago

Suppose you deposit $1 comma 700 cash into your checking account. By how much will the total money supply increase as a result

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Answer:

$17,000

Explanation:

Amount Deposited into checking account = $1,700 cash

Required reserve ratio = 0.10

Money multiplier = 1 ÷ Required reserve ratio

= 1 ÷ 0.10

= 10

Change in money supply = Amount deposited × Money multiplier

= $1,700 × 10

= $17,000

Therefore, the increase in total money supply would be $17,000.

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3 years ago

You are the IT manager for the Andrews Company. A large shipment of new computers has just arrived. You notice that the inventor

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Answer:

1. Rule out other explanations such as an error by the computer distributor.

Explanation:

The best and most appropriate action is to rule out explanation. There can be an error with the shipment or by computer distributor. Before suspecting Bill for the missing computer we need to seek explanation from him. The computer can either be loss or missed out when shipped. Bill should be asked to explain the missing inventory. The explanation from Bill can be a point for further investigation.

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3 years ago

The expected rates of return on portfolios A and B are 11% and 14%, respectively. The beta of A is 0.8 and the beta of B is 1.5.

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Answer:

Portfolio B has a higher return but more volatile stocks. However it depends on how the individual can tolerate risks.

Explanation:

Expected return= free return + Beta (Expected rate of return – risk free rate)

Portfolio A

6%+ +.8*6%

= 6%+4.8%= 10.8%

Portfolio B

6%+1.5(6%)

6%+9%= 15%

It depends on different factors. Portfolio B has a higher return but more volatile stocks. However it depends on how the individual can tolerate risks.

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3 years ago

A process currently services an average of 43 customers per day. Observations in recent weeks show that its utilization is about

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Answer:

The correct answer is 31 customers per day.

Explanation:

Consider the current capacity requirement as = x

Management wants to have a capacity cushion = 8%.

So the utilization is required = 100% - 8% = 92%

A process of currently services an average of 43 customers per day and utilization is 90%.

Expected Demand=70%= 70 ÷ 100 = 0.70

Current utilization = 90% = 0.90

Let Capacity requirement = X

Capacity requirement ÷ required utilization = Expected Demand rate × current service rate ÷ current utilization rate

X ÷ 0.92 = 0.70 × 43 ÷ 0.90

X = 0.70 × 43 ÷ 0.90 × 0.92

= 30.76 or 31

Needed capacity requirement is 31 customer per day.

6 0

3 years ago