1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vinvika [58]
3 years ago
6

Boyd Docker engaged in the following activities in establishing his photography studio, SnapShot!:

Business
1 answer:
WARRIOR [948]3 years ago
4 0

Answer:

1. Dr Cash $8,290

Cr Common stock $8,290

2. Dr Supplies $980

Cr Cash $390

Cr Accounts payable $590

3. No Entry $0

No Entry $0

Explanation:

Preparation of the entries to record the transactions

1. Based on the information given if he deposited the amount of $8,290 of his own money into this account in exchange for common stock the journal entry will be:

Dr Cash $8,290

Cr Common stock $8,290

(Being To record the investment)

2. Based on the information given in a situation where he Purchased photography supplies at a total cost of the amount of $980 which means that if The business paid the amount of $390 in cash, and the balance is on account the journal entry will be:

Dr Supplies $980

Cr Cash $390

Cr Accounts payable $590

($980-$390)

(Being To record the purchase of supplies)

3. Based on the information given in a situation where he Obtained the estimates on the cost of photography equipment from the three different manufacturers which means that no transaction or entry will be recorded.

No Entry $0

No Entry $0

You might be interested in
if variable cost increases by $1/unit, advertising cost increases by $1,500, and units sales increase by 250, what would be the
stira [4]

Revised Sales revenue (1,000 + 150 units = 1,150 * $35)           $40,250

Less: Reised Variable costs ($21 + $1 = $22 * 1,150)                  ($25,300)

Revised Contribution Margin                                                   $14,950

Less: Revised Fixed costs ($8,400 + $1,250)                          ($9,650)

Net operating income                                                                   $5,300

Fixed costs remain the same for a period of time. Variable costs increase or decrease depending on the performance of the company. Examples of fixed costs are rent, taxes, and insurance premiums.

Variable costs are costs that change with changes in quantity. Examples of variable costs include raw materials, parts labor, production materials, handling charges, shipping charges, packaging materials, and credit card fees. In some fiscal documents, the variable cost of production is called the "cost of goods sold."

Learn more about Variable costs at

brainly.com/question/5965421

#SPJ4

4 0
1 year ago
Refined Grains, Inc., is a Kansas-based firm that does business throughout the world. Refined Grains manages retail and wholesal
nadya68 [22]

Answer:

A) Commercial Transactions for the sale "of sonf" (should be AND) payment of goods.

Explanation:

The Uniform Commercial Code (UCC) was established to create a set of standard laws that can regulate interstate commerce. Since different states had various state laws that regulated commerce, it was difficult for companies to work without problems happening. Since the Constitution gave Congress the power to regulate interstate commerce, they set up the UCC that provides a standard legal framework for all the nation.

3 0
3 years ago
A growing trend to "Buy American" may encourage U.S. automakers to increase political pressure on Washington to pass legislation
Kazeer [188]

Answer:

C) a positive result from regulatory and economic environmental forces.

Explanation:

In the short run the whole economy will benefit, more American jobs will be created, consumers will probably get good cars at even lower prices, but on the long run the scenario may not be that good for everyone. If Toyota builds the plant, it will be the result of economic and political pressures, and that is a game that two can play, just ask farmers about the trade deal with China.

On the other hand, this is a type of deja vu (or been there, done that), and it ended up with GM and Chrysler bankrupt and Ford barely surviving. This types of policies were enforced in the 1980s by president Reagan and the famous "Made in the USA" by Bruce Springsteen. Back then Honda had a small factory and Toyota was starting to consider building a plant in the US, Nissan hadn't showed up yet. Fast forward a few years and the only good American vehicles are pickups, the Japanese brands wiped out the rest. The country is full of Camrys, Accords, Civics, Corollas, CRVs and Rav4s. They are great cars, too great for the American car manufacturers to compete against. Who knows, with this type of policies maybe in 10 years the only American car manufacturer left will be Tesla.

This is like playing with fire on top of a fuel truck.

5 0
3 years ago
Consider the following statements regarding Company A and Company B:The two companies have identical operating results but have
Natalija [7]

Answer:

A. A only

Explanation:

U.S. Generally Accepted Accounting Principles (GAAP) does not allow property, plant, and equipment to be written up or revalued. If the fair value of PP&E falls below the book value and the amount is material then a company must write down the asset to fair value.

Since under US GAAP, once PPE is written, it can not be reversed. as Company B is indicated to have reversed the write down while company A did not. It therefore means that Company A only is reporting under US GAAP.

7 0
3 years ago
Identify two benefits of drawing up a business plan.
VashaNatasha [74]

Answer:

Here are four benefits of a business plan:

You can get outside funding. To get funding from lenders or investors, you need to show a business plan. ...

You gain an understanding of your market. ...

You focus your strategies. ...

You can check the financial numbers.

Explanation:

5 0
3 years ago
Other questions:
  • The Food and Drug Administration is targeting salt in processed foods as a health hazard, and some experts believe the agency wi
    14·1 answer
  • Amy wants to invest money for two years. She doesn’t know which investment is best for her. What should Amy do?
    12·2 answers
  • g one of your friends purchased a zero coupon corporate bond (i.e., a bond that has no interest payments) for $4,850. The bond h
    6·1 answer
  • Peggy-Sue's cookies are the best in the world, or so I hear. She has been offered a job by Cookie Monster, Inc., to come to work
    11·2 answers
  • Skolits Corp. issued 15-year bonds 2 years ago at a coupon rate of 7.3 percent. The bonds make semiannual payments. If these bon
    8·1 answer
  • True or False.
    14·1 answer
  • A manufacturer reports the following costs to produce 10,000 units in its first year of operations:
    9·1 answer
  • I'll give Brainliest to whoever has the best answer.
    9·2 answers
  • What is journal entry for purchase goods from ram on cash rs 4000​
    6·1 answer
  • Why does Publix expect you to bag with two hands
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!