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Paul [167]
3 years ago
5

Pronghorn Repair Shop had the following transactions during the first month of business as a proprietorship. Journalize the tran

sactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually).
Aug. 2 Invested $12,100 cash and $2,690 of equipment in the business.
7 Purchased supplies on account for $550. (Debit asset account).
12 Performed services for clients, for which $1,180 was collected in cash and
$682 was billed to the clients.
15 Paid August rent $622.
19 Counted supplies and determined that only $295 of the supplies purchased
on August 7 are still on hand.
Date Account Titles and Explanation Debit Credit
Business
1 answer:
Llana [10]3 years ago
8 0

Answer:

Date                Account Details and Description           Debit               Credit

Aug. 2              Cash                                                     $12,100

                        Equipment                                           $2,690

                        Owner's Capital                                                         $14,790

Date                Account Details and Description           Debit               Credit

Aug. 7             Supplies                                                  $550

                       Accounts Payable                                                           $550

Date                Account Details and Description           Debit               Credit

Aug. 12            Cash                                                       $1,180

                        Accounts receivable                              $682

                        Service revenue                                                            $1,862

Date                Account Details and Description           Debit               Credit

Aug. 15           Rent expense                                         $622

                       Cash                                                                                $622

Date                Account Details and Description           Debit               Credit

Aug 19            Supplies expense (550 - 295)              $255

                       Supplies                                                                           $255

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Natasha2012 [34]

Answer:

t=\frac{5000-5600}{\frac{800}{\sqrt{16}}}=-3      

Explanation:

Data given and notation      

\bar X=5000 represent the sample mean      

s=800 represent the standard deviation for the sample      

n=16 sample size      

\mu_o =5600 represent the value that we want to test    

\alpha represent the significance level for the hypothesis test.    

t would represent the statistic (variable of interest)      

p_v represent the p value for the test (variable of interest)  

State the null and alternative hypotheses.      

We need to conduct a hypothesis in order to determine if the mean is lower than 5600, the system of hypothesis would be:      

Null hypothesis:\mu \geq 5600      

Alternative hypothesis:\mu < 5600      

We don't know the population deviation, so for this case is better apply a t test to compare the actual mean to the reference value, and the statistic is given by:      

t=\frac{\bar X-\mu_o}{\frac{s}{\sqrt{n}}} (1)      

t-test: "Is used to compare group means. Is one of the most common tests and is used to determine if the mean is (higher, less or not equal) to an specified value".  

Calculate the statistic      

We can replace in formula (1) the info given like this:      

t=\frac{5000-5600}{\frac{800}{\sqrt{16}}}=-3      

4 0
3 years ago
Crafting a strategy to compete in one or more foreign markets can be considered complex because 34) A) factors that affect indus
Wewaii [24]

Answer:

Options A, B, C, and E.

(Please check the explanation section before you judge or pick your answer)

Explanation:

The options A, B, C, and E are the options that are considered complex if we want to Craft a strategy to compete in one or more foreign markets.

Please take note that if the question asked us to pick which of the options is NOT a inherently complex reason when crafting a strategy to compete in one or more foreign markets then we would have picked Option D.

As given in the question, that is option D which says; '' buyer tastes and preferences creates challenges in standardizing products and services." Will not be a reason for crafting a strategy to compete in one or more foreign markets is inherently complex.

Countries due to globalization tends to participate in international trades. Competition in the international trade has its advantages as well as its disadvantages or risks.

To trade in the international market, countries must have their individual strategies and Option D above is NOT a inherently complex reason when crafting a strategy to compete in one or more foreign markets

4 0
4 years ago
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Net loss can be thought of as a __________ to the Capital account.<br><br> Debit<br> Credit
xz_007 [3.2K]

Answer:

The answer is Credit.

Explanation:

Net loss can be thought of as a <u>Credit </u>to the Capital account.

6 0
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Noncash assets are expected to produce cash over time but the amount of cash they eventually produce could be higher or lower th
Gre4nikov [31]

Answer:

Correct answer is TRUE

Explanation:

Non-cash assets are expected to produce cash over time but the amount of cash they eventually produce could be higher or lower than the values at which the assets are carried on the books. Some factors that affects the value of non-cash assets are the general economic forces such as inflation or deflation, amortization or impairement itself of the assets. It maybe realized at favorable side (gain) or unfavorable (loss) side.

3 0
3 years ago
Pastore Inc. granted options for 1 million shares of its $1 par common stock at the beginning of the current year. The exercise
Step2247 [10]

Answer:

$7,000,000

Explanation:

Calculation to determine What would be the total compensation indicated by these options

Using this formula

Total Compensation =Beginning options*Fair value of the options

Let plug in the formula

Total Compensation =1,000,000 shares × $7

Total Compensation =$7,000,000

Therefore What would be the total compensation indicated by these options is $7,000,000

3 0
3 years ago
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