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Andrej [43]
3 years ago
6

The following events occurred for Johnson Company:

Business
1 answer:
il63 [147K]3 years ago
4 0

Answer:

a. Received investment of cash by organizers and distributed to them 1,180 shares of $1 par value common stock with a market price of $15 per share.

Account                                 Debit      Credit

Cash                                      $17,700

Common Stock                                     $1,180

Additional Paid-In Capital                    $16,520

Assets increase, and stockholder's equity increase by the same amount: $17,700.

b. Purchased $8,200 of equipment, paying $1,500 in cash and owing the rest on accounts payable to the manufacturer.

Account                                 Debit      Credit

Equipment                             $8,200

Cash                                                       $1,500

Accounts Payable                                  $6,700

Assets increase by a net $6,700 (Equipment - Cash), and Accounts Payable by $6,700 as well.

c. Borrowed $14,000 cash from a bank. Loaned $800 to an employee who signed a note.

Account                                 Debit      Credit

Cash                                     $14,000

Notes Payable                                      $14,000

Notes Receivable                  $800

Cash                                                      $800

Assets increase by a net $14,000 (Cash + Notes Receivable - Cash), and liabilities increase by $14,000

d. Purchased $20,343 of land; paid $9,000 in cash and signed a note for the balance.

Account                                 Debit      Credit

Land                                     $20,343

Cash                                                     $9,000

Notes Payable                                     $11,343

Assets increase by a net $11,343 (Land - Cash), and liabilities increase by the same amount.

                                       

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Activity based costing _____________
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Answer:

1. groups costs into meaningful buckets that are then distributed based on the activity or product they support.

Explanation:

Activity based costing basically categorizes various overheads into different activities, that leads to charge of overheads based on different activities.

In this manner overheads that shall be charged on some standard products based on the activities involved is charged accordingly, and not based on standard overhead allocation rate.

Basically the overheads are divided into various activities and then distributed  to each product based on the volume of activity in the manufacturing process of such activity.

7 0
2 years ago
Fogelberg Company purchased equipment for $30,000. Sales tax on the purchase was $1,500. Other costs incurred were freight charg
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Answer:

Cost of the equipment  = $32350

Explanation:

given data

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solution

we get here Cost of the equipment that is express as

Cost of the equipment  = Purchase cost + Sales tax paid + Freight + Installation cost    .........................1

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3 years ago
Tara is responsible for the strategic planning retail planning process in her organization. She has identified the strategic opp
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Answer:

A. Evaluate strategic opportunities.

Explanation:

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2 years ago
Globalization is:
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Answer:

d) making HR planning more critical and complex.

Explanation:

Globalization refers to the way of interacting with different people around the world in order to get healthy relationship for business purpose. Communication technologies become a helping hand to make globalization so easy and efficient.

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See attached image

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