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4 years ago

Prepare journal entries for each transaction and identify the financial statement impact of each entry.

Business

1 answer:

madam [21]4 years ago

7 0

Answer:

Cash (Dr.) $21,200

Common Stock (Cr.) $21,200

Cash (Dr.) $4,500

Services to client (Cr.) $4,500

Cash (Dr.) $11,200

Unearned Revenue (Cr.) $11,200

Cash (Dr.) $5,900

Accounts Receivable (Cr.) $5,900

Cash (Dr.) $11,000

Notes Payable (Cr.) $11,000

Explanation:

Adams services may record these transactions as journal entries. The transactions may have some changes after they are recorded then adjusting entries will be prepared to reflect the correct effect of transaction on business activities.

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When a firm tries to encourage consumers directly to purchase a particular product or service by offering some sort of special i

bekas [8.4K]

Answer:

Sales Promotion Strategy

Explanation:

Sales Promotion Strategy is the strategy which is followed by the firms or the organization where the firms or the organization tries to encourage the potential buyers or the customers in order to buy or purchase a specific product or the service through offering the special discount or the incentive.

This will boost the short term sales so that could attract the new customers or repeat the purchases.

6 0

4 years ago

Accrued Product Warranty Fosters Manufacturing Co. warrants its products for one year. The estimated product warranty is 3% of s

Ksju [112]

Answer:

Warranty Expenses $6,330 (debit)

Provision of Warranty Expense $6,330 (credit)

Provision of Warranty Expense $240 (debit)

Raw Materials : Parts $170 (credit)

Labor $70 (credit)

Explanation:

Entry to record the warranty estimate for the year :

Hint : Recognize an Expense : Warranty Expenses and a Liability : Provision of Warranty Expense

Warranty Expenses $6,330 (debit)

Provision of Warranty Expense $6,330 (credit)

Warranty Expenses Calculation = $211,000 × 3% = $6,330

When customer received warranty cost

Hint : Utilize the Provision that had been previously recognized.

Provision of Warranty Expense $240 (debit)

Raw Materials : Parts $170 (credit)

Labor $70 (credit)

3 0

3 years ago

In a market economy, prices are set using a cost/benefit analysis

Cloud [144]

I think false. It is based on supply and demand.

7 0

3 years ago

In ________, the state has the broad powers to decide what goods and services are produced and in what quantities.

kirill115 [55]

The state has extensive authority to determine what goods and services are produced and in what quantities under centrally planned socialism.

A Centrally Planned Economy: What Is It?

A centrally planned economy, commonly referred to as a command economy, is a form of capitalism where decisions about the production and distribution of goods are made by the government. Market economies, where these decisions are the consequence of hundreds of choices made by producers and consumers, are different from centrally planned economies.

Although individual businesses may occasionally be brought into economic planning, state-owned corporations produce goods and services in planned economies frequently. In most cases, a centralized bureaucracy determines the costs, salaries, and production schedules.

to know more about Centrally Planned Economy

brainly.com/question/7350036

#SPJ4

8 0

2 years ago

Conducting ourselves ethically and within the law of business practices

Leno4ka [110]

Conducting yourself ethically and legally could have examples of: making products that are trustworthy, don't false advertise (yes, you can legally do things like endorsements and bandwagons, but you can't say "If you buy this product, you will be elected to a high office!".

3 0

3 years ago