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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

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The managerial task of ______ involves establishing task and authority relationships.
andrezito [222]

Answer:

Organizing

Explanation:

Organizing is the most important role in any organization as it defines that the work is distributed among employees so that the target can be achieved timely. Also during the organizing process the supervisor coordinates with their employees.

Therefore the correct answer is organizing as it includes the task which has been created and authority relationship.

4 0
3 years ago
The following data exists for Carley Company. 20182017 Accounts Receivable$50,000$70,000 Net Sales500,000410,000 Calculate the a
Elena-2011 [213]

Answer:

8.3 times

43.8 days

Explanation:

Accounts receivable turnover measure the average times the company received their receivable, It measure the efficiency of the company regarding collection from customers. Turnover will be higher if company has low ratio of receivables to sales value.

Average Receivable can be calculated as below

Average Receivable = (Accounts Receivable at the beginning of the year +  Accounts Receivable at the end of the year) / 2 = ($50,000 + $70,000)/2 = $60,000

Net Sales = $500,000

Formula for Accounts receivable turnover is as follow

Accounts receivable turnover = Net Sales  / Average Receivable

Accounts receivable turnover = $500,000  / $60,000 = 8.3 times

Days Sales Receivable is also know as Days receivables. It is an method of estimation of a company for the receivables value. it measure the numbers of days at average account receivable take after sales to convert into cash.

Formula for Days Sales Receivable  is as follow

Days Sales Receivable = ( $60,000 / $500,000 ) x 365 = 43.8 days

6 0
4 years ago
On September 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend on its 15,000, $6 par, common sha
anyanavicka [17]

Answer:

Sept 1,

DR Stock dividends $52,500  

CR Common stock   $9,000

CR Additional paid in capital   $43,500

Sept 1,

DR Stock dividends $90,000  

CR Common stock  $90,000

 

Sept 1,

No journal entry required.

<u>Workings</u>

Small Dividends

<em>Stock dividends</em>

= 15,000 * 10% * $35

= $52,500

<em>Common stock </em>

= 15,000*10%* $6  

= $9,000

<em>Additional paid in capital</em>

= 52,500 - 9000

= $43,500

Large Dividends

<em>Stock dividends</em>

= 15,000 * $6

= $90,000

<em>Common stock </em>

= 15,000 * $6  

= $90,000

<em>No entry for stock splits.</em>

3 0
3 years ago
Employees who work on commission typically work in<br> education
faltersainse [42]

Answer:

Is this true or false? What are the options to answer

Explanation:

A sales commission is a sum of money paid to an employee upon completion of a task, usually selling a certain amount of goods or services. Employers sometimes use sales commissions as incentives to increase worker productivity. A commission may be paid in addition to a salary or instead of a salary. The Fair Labor Standards Act (FLSA) does not require the payment of commissions.

8 0
3 years ago
The temperature dropped 12°f in 8 hours. If the final temperature was -7°F what was the staring temperature
Allisa [31]
You just take the 12°-7° which would be 5° so the starting temperature was 5°F
8 0
3 years ago
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