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3 years ago

List at least one of each transaction related to all of the following business events:

Business

1 answer:

NeX [460]3 years ago

8 0

Answer:

a. Purchase of goods or services for cash

Transaction: Cash paid towards the dresses and shoes for security guards.

Accounts affected: Cash and Purchases

b. Providing services for cash

Transaction: Cash received against Bill raised towards Security services to M/s Major Computers for November month

Accounts affected: Cash and Service Revenues

c. Providing services on account

Transaction: Bill raised towards Security services to M/s Prime innovators for November month

Accounts affected: Accounts Receivables and Service Revenues

d. Purchase of goods or services on account

Transaction: Purchases the dresses and shoes for security guards on credit form M/s Immediate Dress.

Accounts affected: Accounts Payable and Purchases

e. Payment of a previously recorded expense

Transaction: Payment of bill raised by M/s Immediate Dress towards purchase of security guards dresses and shoes last month.

Accounts affected: Accounts Payable and Cash

f. Receipt of a previously recorded revenue earned

Transaction: Received payments towards Bill raised to M/s Prime innovators for Security services for November month

Accounts affected: Accounts Receivables and Cash

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The map above shows air release, or emissions, sites across the United States. These sites include locations such as smokestacks

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"The West has a higher potential for a negative externality to its free resources" reflects the content in the map.

Option D

<u> Explanation: </u>

A negative externality is a cost that is endured by an outsider as an outcome of a monetary exchange. In an exchange, the maker and customer are the first and second gatherings, and outsiders incorporate any individual, association, property proprietor, or asset that is in a roundabout way influenced.

Externalities are additionally alluded to as overflow impacts, and a negative externality is likewise alluded to as an 'outside cost'.

Externalities ordinarily emerge in circumstances where property rights over resources or assets have not been apportioned, or are unsure. For instance, nobody claims the seas and they are not the private property of anybody, so ships may dirty the ocean unafraid of being indicted.

The significance of building up property rights is fundamental to the thoughts of compelling Peruvian financial expert, Hernando De Soto, De Soto has broadly contended that effective market economies need a far reaching distribution of property rights to empower them to completely create.

6 0

3 years ago

Which statement is true?

Vikki [24]

Hewo, Your answer is <em>"Taxes paid to the government have no direct effect on the economy". </em>The First is incorrect because savings save money, and do not leak any income. Number 2 is incorrect because Companies and Businesses pay wage to employees, and not employees pay to the business. And Exports, earn money, because you sell and export a product. Hence the logical answer is #4.

8 0

3 years ago

Describe Classical Theory. To do so, begin by describing its approach to the circular flow model and indicate its assumption abo

gogolik [260]

Answer and Explanation:

Classical Theory:

Classical theory states that the economy is free flowing and that there should be no outside intervention. It states that the prices and wages move up and down freely. During good times the prices and wages tend to increase and during bad times or recession the prices and wages are adjusted accordingly to downwards.

Another vital information pertaining to classical theory is that it states: economy is always at full employment level of output. Which means that the aggregate supply curve is vertical and this implies that the increase in aggregate demand or a decrease in aggregate demand will lead to increase or decrease respectively. However, the output will remain same in the economy when it comes to the classical approach.

8 0

3 years ago

Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies fo

Olin [163]

Answer:

(a) $190,000

(b) $2,185,000

(d) $841,090

(e) $561,260

(f) $1,200,000

Explanation:

Rainier and Yakima Company several balances are omitted. These are calculated with reverse calculation. The material inventory at beginning of may is added with the purchases made and then ending inventory is subtracted to identify cost of goods manufactured.

6 0

2 years ago

Sayon Co. issues 200,000 shares of $5 par value common stock to acquire Trask Co. in an acquisitionbusinesscombination. The mark

enot [183]

Answer:

option (c) $1,365,000

Explanation:

Given;

Number of shares issued = 200,000

Par value of the common stock = $5

Market value of the common stocks= $12

Legal and consulting fees = $110,000

Registration and issuance costs for the common stock = $35,000

Now,

The par value of the stocks

= Number of shares issued × Par value of the stocks

on substituting the respective values, we have

= 200,000 × $5

= $1,000,000

and, the Market value of the stocks

= Number of shares issued × Market value of the stocks

on substituting the respective values, we have

= 200,000 × $12

= $2,400,000

Therefore,

the net additional paid in cash

= Market value of the stocks - par value of the stocks - Registration and issuance costs

on substituting the respective values, we have

= $2,400,000 - $1,000,000 - $35,000

= $1,365,000

The legal and the consulting fees is not included above because they are paid in cash.

Hence, the correct answer is option (c) $1,365,000

5 0

3 years ago