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3 years ago

Are there items that would receive the same share?

Business

1 answer:

max2010maxim [7]3 years ago

5 0

Explanation:

Equal shares when added together give us the whole.

Equal shares can be used to divide either a single object or group of objects equally.

The result of an equal share can sometimes be a fraction.

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Following are the transactions of Sustain Company.

MrMuchimi

Answer:

Jun-01

Dr Cash 18,500

Cr Common Stock T. James 18,500

Jun-02

Dr Furniture 11,500

Cr Account Payable 11,500

Jun-03

Dr Prepaid Insurance 2,100

Cr Cash 2,100

Jun-04

Dr Account Receivable 10,500

Cr Sales 10,500

Jun-12

Dr Account Payable 11,500

Cr Cash 11,500

Jun-20

Dr Cash 10,500

Cr Account Receivable 10,500

Jun-21

Dr Cash 17,500

Cr Common Stock T. James 17,500

Jun-30

Dr Cash 12,500

Cr Unearned Income 12,500

Explanation:

Preparation of Journal entries

Jun-01

Dr Cash 18,500

Cr Common Stock T. James 18,500

(Invested $18,500 as capital contribution)

Jun-02

Dr Furniture 11,500

Cr Account Payable 11,500

(Purchased furniture on credit)

Jun-03

Dr Prepaid Insurance 2,100

Cr Cash 2,100

(Cash Paid for 12 month insurance)

Jun-04

Dr Account Receivable 10,500

Cr Sales 10,500

(Billed customer )

Jun-12

Dr Account Payable 11,500

Cr Cash 11,500

(Cash paid to reclaimed wood)

Jun-20

Dr Cash 10,500

Cr Account Receivable 10,500

(Cash collected form customer)

Jun-21

Dr Cash 17,500

Cr Common Stock T. James 17,500

(Addition capital contribution)

Jun-30

Dr Cash 12,500

Cr Unearned Income 12,500

(Received advance for service to be performed)

8 0

3 years ago

On November 1, 20Y9, Lexi Martin established an interior decorating business, Heritage Designs. During the month, Lexi completed

Romashka-Z-Leto [24]

Answer:

Explanation:

(1) Journalizing the Transactions:-

Heritage Designs

General Journal

For the Month of November,20Y9

Date Accounts Debit Credit

Nov. 1 Cash $50,000

Common Stock $50,000

Nov. 1 Rent Expense $4,000

Cash $4,000

Nov. 6 Office Equipment $15,000

Accounts Payable $15,000

Nov. 8 Truck $38,500

Cash $5,000

Notes Payable $33,500

Nov. 10 Supplies $1,750

Cash $1,750

Nov. 12 Cash $11,500

Fees Earned $11,500

Nov. 15 Prepaid Insurance $2,400

Cash $2,400

Nov. 23 Accounts Receivable $22,300

Fees Earned $22,300

Nov. 24 Truck Expense $1,250

Cash $1,250

Nov. 29 Utilities Expense $4,500

Cash $4,500

Nov. 29 Miscellaneous Expense $1,000

Cash $1,000

Nov. 30 Cash $9,000

Accounts Receivable $9,000

Nov. 30 Wages Expense $6,800

Cash $6,800

Nov. 30 Accounts Payable $3,000

Cash $3,000

Nov. 30 Dividends $2,500

Cash $2,500

(2) Posting the each Transaction into General Ledger:-

Cash

Date Items Debit Credit Balance

Nov. 1 Common Stock $50,000 $50,000

Nov. 1 Rent Expense $4,000 $46,000

Nov. 8 Truck $5,000 $41,000

Nov. 10 Supplies $1,750 $39,250

Nov. 12 Fees Earned $11,500 $50,750

Nov. 15 Prepaid Insurance $2,400 $48,350

Nov. 24 Truck Expense $1,250 $47,100

Nov. 29 Utilities Expense $4,500 $42,600

Nov. 29 Miscellaneous Expense $1,000 $41,600

Nov. 30 Accounts Receivable $9,000 $50,600

Nov. 30 Wages Expense $6,800 $43,800

Nov. 30 Accounts Payable $3,000 $40,800

Nov. 30 Dividends $2,500 $38,300

Accounts Receivable

Date Items Debit Credit Balance

Nov. 23 Fees Earned $22,300 $22,300

Nov. 30 Cash $9,000 $13,300

Supplies

Date Items Debit Credit Balance

Nov. 10 Cash $1,750 $1,750

Prepaid Insurance

Date Items Debit Credit Balance

Nov. 15 Cash $2,400 $2,400

Equipment

Date Items Debit Credit Balance

Nov. 6 Accounts Payable $15,000 $15,000

Truck

Date Items Debit Credit Balance

Nov. 8 Cash $5,000 $5,000

Nov. 8 Notes Payable $33,500 $38,500

Notes Payable

Date Items Debit Credit Balance

Nov. 8 Truck $33,500 $33,500

Accounts Payable

Date Items Debit Credit Balance

Nov. 6 Equipment $15,000 $15,000

Nov. 30 Cash $3,000 $12,000

Common Stock

Date Items Debit Credit Balance

Nov. 1 Cash $50,000 $50,000

Dividends

8 0

4 years ago

When people move to an area of the world that was previously unpopulated, we expect more consumers and more producers to spring

lukranit [14]

Answer:

The correct answer is option c.

Explanation:

When people move to a previously unpopulated area, the quantity of both consumers as well producers will increase. This will create an increase in both the demand as well as the supply. Both the demand and the supply curve will move to the right.

This rightward shift in both the demand as well as supply curve will lead to an increase in equilibrium quantity. The change in equilibrium price will depend upon the extent of change in demand and supply.

4 0

4 years ago

Lashondra is the owner/operator of an interior design firm. Last year she earned $400,000 in total revenue. Her explicit costs w

padilas [110]

Answer:

b. $70,000

Explanation:

Economic profit is the difference between the total revenue received by a business and the total implicit and explicit costs of a firm.

Economic profit = Total revenue - (Implicit costs + Explicit costs)

Economic profit = $400,000 - $200,000 - $130,000 = $70000

Therefore Lashondra's economic profit is equal to $70000.

4 0

4 years ago

Read 2 more answers

What is a part time job?

vekshin1

Part-time is usually around 15-20 hours of work a week when in comparison to a full time job which can be upwards to 40 hours a week. Part-time jobs are common with teenagers as school constraints half of their day.

7 0

4 years ago

Are there items that would receive the same share?​

Are there items that would receive the same share?