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vfiekz [6]
3 years ago
7

The Marchetti Soup Company entered into the following transactions during the month of June:

Business
1 answer:
pav-90 [236]3 years ago
8 0

Answer:

The Marchetti Soup Company

Journal Entries:

a) Debit Inventory $245,000

Credit Accounts Payable $245,000

To record the purchase of inventory on account.

b) Debit Salaries Expense $60,000

Credit Cash $60,000

To record the payment of salaries for the month.

c) Debit Accounts Receivable $300,000

Credit Sales Revenue $300,000

To record the sale of inventory on account

Debit Cost of Goods Sold $160,000

Credit Inventory $160,000

To record the cost of goods sold.

d) Debit Cash $280,000

Credit Accounts Receivable $280,000

To record the receipt of cash from customers.

e) Debit Accounts Payable $225,000

Credit Cash $225,000

To record the payment to suppliers on account.

Explanation:

Journal entries enable the identification of accounts involved in each transaction.  They are used to make the initial record into the accounting books before they are posted to the general ledger.  They show the accounts to be debited and the ones to be credited.

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Austin and Erin are willing to pay $10 and $9, respectively, for a ticket to a screening of a new movie. What is the total consu
Rina8888 [55]

Answer:

B) $7

Explanation:

The computation of the consumer surplus is shown below:

Consumer surplus = Willing to pay - Market price

For Austin, The consumer surplus = $10 - $6 = $4

For Erin, The consumer surplus = $9 - $6 = $3

So, the total consumer surplus = $4 + $3 = $7

Simply we deduct the market price from the willing to pay so that the consumer surplus can be computed

8 0
2 years ago
What would symphony report as total shareholders' equity?
leva [86]
$485 + $380 + $15 + $48 - $120 = $808

Have a great night!
6 0
2 years ago
Android Products, Inc., agreed to accept a $1,000, one-year, 10 percent note from C. Mate. On its maturity date of December 16,
kodGreya [7K]

Answer:

Dr Cash       $1,100

Cr Notes receivable      $1000

Cr Interest revenue         $100

Explanation:

The $1,100  receipt of cash from C.Mate comprises of $1000 principal and $100 interest revenue,the $1000 should be credited to notes receivable since it is a reduction in asset and $100 credited to interest revenue as an increase in income.

The debit would be to cash account as an increase in cash and cash equivalents in the balance sheet of Android Products Inc,under the current assets section.

8 0
3 years ago
One problem with conflicts of interest is that they can reduce the ________ in financial markets, thereby increasing ________. Q
luda_lava [24]

Answer:

The answer is Quality of information and Asymmetric information

Explanation:

        Information quality is a multi-attribute concept, it is said to define the quality of information are of good quality or of high value then the information is said to have good quality.

        Asymmetric information also regarded as "information failure" occurs in a business environment in which some agent in a trade possesses information while other agents involved in the same trade do not.

3 0
2 years ago
Championing ideas, selecting candidates, mobilizing voters, organizing post-election activities, and integrating new voters into
rewona [7]

Answer:

Parties

Explanation:

The parties are the political groups that are formed by people that have the same positions. The parties present their candidates for election, they help organize the political campaigns to get votes, try to promote the interests of their voters and at the end, their goal is that their candidates win the elections to be able to implement their ideas.

According to this, the answer is that championing ideas, selecting candidates, mobilizing voters, organizing post-election activities, and integrating new voters into the political process are the major jobs of the parties as these groups share an ideology and they pick candidates and help organize campaigns attracting voters to win elections and get their ideas in the government.

3 0
3 years ago
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