Leach Inc. experienced the following events for the first two years of its operations:

at wilma service company, the balance of cash account on january 1st, 2020 was $5,000. the following transactions are for year 2

Xelga [282]

the correct answer is $60,000

How Do I Open a Cash Account?

To balance an account, just add up its debit and credit sides, then subtract the smaller (with a lower total value) side from the bigger side. The balance of the account is the difference between the two sides.

Any securities transactions must be paid in full from monies in the account at the time of settlement if the account is a cash one with a brokerage company. Thus, with this form of account, short selling and buying on margin are prohibited. Cash accounts and margin purchases of securities are governed by Regulation T of the Federal Reserve. Investors have two business days to pay for security under this legislation. T+2 is the name of it.

A ledger in which all cash transactions are documented is referred to as a cash account or cash book in accounting. The cash account contains both the cash receipts and payments journals.

To know more about balance of cash account

brainly.com/question/14541900

#SPJ4

3 0

1 year ago

True or false? The “ Buy one get one free” strategy is an example of distribution.

Effectus [21]

Answer: False

Explanation: Buy one and get one free is an example of a promotion to get your customers to buy your product

7 0

3 years ago

A company had 260 units of inventory at a cost of $152 each on January 1. On June 5, the company purchased 460 units for $172 ea

Nadusha1986 [10]

Answer:

$62,411

Explanation:

January 1: 260 units, cost of $152 each ($39,520 value)

June 5: purchased 460 units for $172 each ($79,120 value)

November 10: purchased 160 units for $212 each ($33,920 value)

December 15: the company sold 520 units.

Let's first find out the average weighted cost for the units purchased:

Total value: 39520 + 79120 + 33920 = $152,560

Total units bought: 260 + 460 + 160 = 880 units

Average cost: $152,560 / 880 units = $173,363636363636 /unit

Inventory left at the end:

I = 880 - 520 = 360 units

Value of the inventory:

V = 360 units * $173.3636363636 = $62,410.9090909

Rounded to the nearest dollar: $62,411

7 0

3 years ago

Magnus Inc.'s price is $35 a share, their dividend for last year was $1.90, and the long-term sustainable growth rate is 3.5%. T

aliya0001 [1]

Answer:

the expected return on the stock is 8.675%

Explanation:

The computation of the expected return on the stock is shown below:

The Expected return on the stock is

= Current year dividend ÷ Price of the stock + growth rate

= ($1.75 × 1.035) ÷ $35 + 3.5%

= 8.675%

Hence, the expected return on the stock is 8.675%

We simply applied the above formula so that the correct value could come

And, the same is to be considered

4 0

2 years ago

Squirrel Co. operates in a lean manufacturing environment. For June production, Squirrel purchased 6,000 units of raw materials

valina [46]

Answer:

At the time of purchase of raw material inventory,

Raw material inventory account will debit and accounts payable account will credit.

Therefore, the Journal entry for this transaction is as follows:

Raw Materials Inventory Account Dr. $36,000

To Accounts Payable $36,000

(To record the purchase of raw material on account)

Workings:

Raw material Inventory = Units of raw material purchased × Price per unit

= 6,000 × $6

= $36,000

3 0

3 years ago