Ask question

Ask question

All categories

3 years ago

9

Rodriguez Corporation issues 10,000 shares of its common stock for $196,400 cash on February 20. Prepare journal entries to reco

rd this event under each of the following separate situations.

1 answer:

emmainna [20.7K]3 years ago

3 0

I’m not going to be able to get my homework homework but I’m not gonna be going back to school

You might be interested in

Beth is conducting a risk assessment. She is trying to determine the impact a security incident will have on the reputation of h

ddd [48]

Answer:

c) Qualitative

Explanation:

reputation is affected by loss of confidentiality, loss of integrity, loss of availability and etc.

Therefore, The type of risk assessment is best suited to this type of analysis is Qualitative.

5 0

3 years ago

"Pinkmake Inc. is expanding its global operations into Jartainia in spite of the frequent changes in its government due to the a

exis [7]

Answer:

... it must deal with criminal aspects, dangerous situation and violence in general.

Explanation:

5 0

3 years ago

Read 2 more answers

Jasper is a self-employed businessman. on march 5, 2015 he purchases a personal computer for use at his home. he uses the comput

g100num [7]

Jasper could most certainly claim depreciation on the computer that is, 50% of it plus 50% of the purchase price and I know because I am self-employed too and I know that legitimate office expenses like a new printer, printer paper etc can be claimed according to the amount used for the business.

7 0

3 years ago

During Burns Company's first year of operations, credit sales totaled $166,000 and collections on credit sales totaled $118,000.

marusya05 [52]

Answer:

1. Prepare all appropriate journal entries relative to uncollectible accounts and bad debt expense.

1

Db Bad debt expense_______ 3320

Cr Allowance for bad debt_________________ 3320

2

Db Allowance for bad debt__ 430

Cr Account Recevaible_____________________ 430

2. Show the year-end balance sheet presentation for accounts receivable.

Account receivable__________47570

Net account receivable_______44250

Explanation:

Credit sales 166000

Credir sales 118000

Bad debt losses 2%

Writte off 430

Allowance 3320

1

Db Bad debt expense_______ 3320

Cr Allowance for bad debt_________________ 3320

2

Db Allowance for bad debt__ 430

Cr Account Recevaible_____________________ 430

Year end balance___________48000

Cr Account Recevaible_________430

Account receivable__________47570

Allownace for bad debts_______3320

Net account receivable_______44250

5 0

3 years ago

Short Company purchased land by paying $15,000 cash on the purchase date and agreed to pay $15,000 for each of the next ten year

gogolik [260]

Answer:

Option D is the correct answer,$ 88,338.48

Explanation:

The liability reported in the balance sheet can be computed by using the pv formula in excel which is stated thus:

=-pv(rate,nper,pmt,fv)

rate is the incremental borrowing rate of 11% per year

nper is the number of payments required to settle the obligation which is 10

pmt is the amount of yearly payment in order to fully settle the debt owed which is $15,000 per year

fv is the future worth of total payments which is not unknown,hence taken as zero

=-pv(11%,10,15000,0)=$ 88,338.48

The correct answer is $ 88,338.48

3 0

3 years ago