Answer:
1. Cash (Dr.) $2,000
Common Stock (Cr.) $2,000
2. Accounts Receivable (Dr.) $1,500
Revenue (Cr.) $1,500
3. Cash (Dr.) $1,200
Accounts Receivable (Cr.) $1,200
4. Salaries expense accrued (Dr.) $900
Salaries payable (Cr.) $900
5. Salary Payable (Dr.) $700
Cash (Cr.) $700
6. Dividends paid (Dr.) $100
Cash (Cr.) $100
7.Prepaid Insurance (Dr.) $360
Cash (Cr.) $360
8. Cash (Dr.) $2,880
Unearned revenue (Cr.) $2,880
9. Insurance Expense (Dr.) $290
Prepaid Insurance (Cr.) $290
10. Unearned revenue (Dr.) $2,880
Revenue (Cr.) $2,880.
Explanation:
Smith company has started its business and incurred the transactions. These transactions need to be recorded to charge each and every expense in their respective accounts. The expenses are recorded in the journal entries and then ledger accounts will be formed to summaries all the expenses in their respective account heads.
I understand this question to mean "what can a minister of sports (presumably in the US?) do so that sports serves a nation builder"
Sports can be a nation builder when it unites the nation, as when for example all the people cheer for one team. So the minister can for example support national teams.
Sport can also increase people's standard of life, so the minister can support local sport facilities - healthy people mean a healthy nation.
Also, it can be a common goal, such as when a nation organizes some championships, so he or she can apply to host the Olympics for example. <span />
Answer: True
Explanation:
To understand organizational markets, one must first realize that there are three main types of them: Industrial, reseller and government.
Industrial markets enable businesses to transact with each other. They trade raw materials and other goods to each other and process them to finished goods.
The reseller market does not involve any processing but rather firms buying from one and selling to another as middlemen.
The last market is the Government market. Any arm of government that purchases goods and services fall here including at local, state or federal level.
Answer:
The payback period for this project is closest to 2 years
Explanation:
Initial investment = $300,000
Sales = $500,000
Cash variable expenses = ($200,000)
Contribution margin = 300,000
Fixed cash expenses = $150,000
Depreciation expenses = $37,500
Total Fixed expenses: $150,000 + $37,500 = ($ 187,500 )
Net operating income = $112,500
Annual cash inflows = Net operating income + Depreciation
= $112,500 + $37,500
= $150,000
Payback period = Initial investment ÷ Annual cash inflows
= $300,000 ÷ $150,000 = 2 years
