All categories

3 years ago

Complete the journal entries for the following financing transactions.

Business

1 answer:

Musya8 [376]3 years ago

4 0

Answer:

The answer is

Explanation:

The answer is ___, because

You might be interested in

Sidewinder, Inc., has sales of $634,000, costs of $328,000, depreciation expense of $73,000, interest expense of $38,000, and a

Mazyrski [523]

Answer:

$154,050

Explanation:

The computation of the net income for the firm is shown below:

Sales $634,000

Less: costs -$328,000

Less: depreciation -$73,000

EBIT -$233,000

Less: interest -$38,000

EBT 195,000

Less: tax(195,000 × 21%) -$40,950

Net income $154,050

We simply deduct all expenses ,interest and taxes from the sales revenue so that the net income could come and the same is to be considered

5 0

3 years ago

Rusty sells his home for $330,000. He must pay a 6% brokerage fee which will be split evenly between the selling broker and list

Solnce55 [7]

Answer:

=$ 80, 200.00

Explanation:

selling price : $ 330,000.00

Commission 6 %:

Commissions paid = 6/100 x $ 330,000.00

=$19,800.00

Closing costs =: $ 5000.00

Mortgage paid : $ 225,000

Total payouts: $19,800 + $50,00+ $225,000

=$ 249, 800.00

Rusty Expects: $ 330,000.00- $ 249,800.00

=$ 80, 200.00

8 0

2 years ago

Jessica teaches business studies in a reputed college. As part of the curriculum, she needs to demonstrate to her students the s

nata0808 [166]

Answer:

In the first step jessica should discuss the basic and general ideas of creating business.

Explanation:

As mentioned in the question jessica teaches business studies in a college and she has to demonstrate her students the steps which would be involved in the starting of a business.

So, she has thought to demonstrate the ideas in a sequential order with proper examples and all the steps should be explained nicely.

So,here in the first step she will need to:

Start with the most basic and general idea of creation of new business.

Here we should know why a business basic idea so important:

Because a proper plan will only lead to a business reality.
The idea will work as a blueprint in the guidance of business
The best idea will progressively lead to well settled company from a start-up.

6 0

3 years ago

Mary jo spends $2,180 to buy stock in two companies. she pays $23 a share to one of the companies and $20 a share to the other.

Dahasolnce [82]

20was 40times. 23was 60times

5 0

3 years ago

A customer has requested that Lewelling Corporation fill a special order for 2,400 units of product S47 for $36 a unit. While th

yKpoI14uk [10]

Answer:

Effect on income= $38,640 increase

Explanation:

Giving the following information:

Units= 2,400

Seling price= $36

Variable cost per unit:

Direct materials $4.80

Direct labor 4.00

Variable manufacturing overhead 1.90

Total variable cost= 10.7

Increase in variable cost= $1.70

Increase in fixed costs= $18,000

<u>Because it is a special offer, there is unused capacity, and other sales will not be affected, we will take into account only the incremental fixed costs (besides the variable costs).</u>

Sales= (2,400*36)= 86,400

Total variable cost= 2,400*(10.7 + 1.7)= (29,760)

Increase fixed costs= (18,000)

Effect on income= $38,640 increase

6 0

3 years ago