Answer:
Required 1 : General journal entries
A.
Cash $100,750 (debit)
Capital ; K. Spade $100,750 (credit)
B.
Office Equipment $10,050 (debit)
Trade Payable $10,050 (credit)
C.
Trade Payable $10,050 (debit)
Cash $10,050 (credit)
D.
Trade Receivable $2,700 (debit)
Fees Earned $2,700 (credit)
E.
Rent Expense $1,225 (debit)
Cash $1,225 (credit)
F.
Cash $1,125 (debit)
Trade Receivable $1,125 (credit)
Required 2 : Posting Journal Entries to T - Accounts
Cash Account
<u>Debit</u>
Capital ; K. Spade $100,750
Trade Receivable $1,125
Totals $101,875
<u>Credit</u>
Trade Payable $10,050
Rent Expense $1,225
Balance c/d $90,600
Totals $101,875
Capital Account
<u>Debit</u>
Balance c/d $100,750
Totals $100,750
<u>Credit</u>
Cash $100,750
Totals $100,750
Office Equipment Account
<u>Debit</u>
Trade Payable $10,050
Totals $10,050
<u>Credit</u>
Balance c/d $10,050
Totals $10,050
Trade Payable Account
<u>Debit</u>
Cash $10,050
Totals $10,050
<u>Credit</u>
Office Equipment $10,050
Totals $10,050
Trade Receivable Account
<u>Debit</u>
Fees Earned $2,700
Totals $2,700
<u>Credit</u>
Cash $1,125
Balance c/d $1,575
Totals $2,700
Rent Expense Account
<u>Debit</u>
Cash $1,225
Totals $1,225
<u>Credit</u>
Profit and Loss Account $1,225
Totals $1,225
Fees Earned Account
<u>Debit</u>
Trading Account $2,700
Totals $2,700
<u>Credit</u>
Trade Receivable $2,700
Totals $2,700
Explanation:
All transaction are first record in the journal. Be careful to use the account titles provided by the question.
The Posting to general account is the second stage in accounting. Here account balances to be transferred into the trial balance are established.
Answer:
4. to gain access to low-cost inputs of production
Explanation:
The reason for Exxon Mobil to opt for this strategic alliance, Whereas the remaining ones are not relevant in this context may be because it can help to gain access to low-cost inputs of production.
Answer:
For efficiency, <u>3 haircuts</u> should be given.
Only three haircuts should be given because only 3 firms have costs that are lower than the customer whose hair they are to cut.
Firm A's cost is less than Kyoto's willingness to pay so Firm A can cut.
Firm B's cost is more than Rina's willingness to pay so Firm B should not cut.
Firm C's cost is less than Jacques's willingness to pay so Firm C can cut.
Firm D's cost is less than Musashi's willingness to pay so Firm D can cut.
That makes only 3 firms that can cut therefore 3 haircuts.
The business that should cut as shown above are:
Answer: False
Explanation:
Even if you have a reliable income but you have no credit history, you will be seen as a something of a risk because you don’t yet have a track record.
Therefore a credit card company will charge higher interest rate due to the potential risk because of lack of track record .
Their concentrated attention on serving the needs of buyers in a narrow piece of the overall market
Answer: Option B.
<u>Explanation:</u>
There are certain strategies which the producer might keep in mind so that they can maintain a position in the market when there is competition at such a high level.
Some of such policies and strategies are the low cost strategy where the focus is on reducing the price of the production of the goods. The producer should also focus on keeping a track of need of the consumers so that the production is according to that to meet the needs.