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3 years ago

Commenced business by Sarita with her bank balance 100000 and furniture 100000

Business

2 answers:

olga_2 [115]3 years ago

4 0

Answer:

see below

Explanation:

This transaction increases the bank balance ( asset account) by 100,000 and furniture account( asset account) by 100,000.

Capital account increases by 200,000. An increase in assets is a debits while an increase in capital is credited.

The journal entry will be as follows

Bank A/C Dr. 100,000

Furniture A/C Dr. 100,000

Capital A/C Cr. 200,000

SashulF [63]3 years ago

3 0

Answer:

200,000

Explanation:

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Svetlanka [38]

Answer:

Stockton Company

The retained earnings ending balance is:

= $12,114.

Explanation:

a) Data and Calculations:

Stockton Company

Adjusted Trial Balance December 31

Cash 6,102

Accounts Receivable 2,938

Prepaid Expenses 703

Equipment 15,970

Accumulated Depreciation 6,337

Accounts Payable 1,719

Notes Payable 4,543

Common Stock 1,000

Retained Earnings 10,872

Dividends 916

Fees Earned 6,176

Wages Expense 2,514

Rent Expense 761

Utilities Expense 459

Depreciation Expense 233

Miscellaneous Expense 51

Totals 30,647 30,647

Income Statement for the year:

Fees Earned $6,176

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Statement of Retained Earnings for the year:

Net Income $2,158

Retained Earnings 10,872

Dividends (916)

Retained Earnings, ending $12,114

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3 years ago

Why would deca, an international association of marketing students, be classified as a nonprofit organization?

Amiraneli [1.4K]

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3 years ago

Select all that apply The weighted average unit contribution margin ______. Multiple select question. is calculated by adding up

8090 [49]

Answer:

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Explanation:

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3 years ago

Problem 24-01 Liquidation Southwestern Wear Inc. has the following balance sheet: Current assets $1,875,000 Accounts payable $37

Softa [21]

Answer:

1. Proceeds from sale of assets $ 4,000,000

2. First mortgage, paid from sale of assets 0.00

3. Fees and expenses of administration of bankruptcy 276,250

4. Wages due workers earned within 3 months prior to filing of bankruptcy petition 0.00

5. Taxes 0.0

6. Unfunded pension liabilities 0.00

7. Available to general creditors $3,723,750

Distribution to general creditors

Claim (1) =$1,875,000

Application of 100% Distribution(2)=$1,875,000

After Subordination Adjustment

(3)=$1,875,000

Percentage of Original Claims Received

(4)=$1,875,000

Explanation:

Calculation for how much will each class of investors receive if a total of $4 million is received from sale of the assets

1. Proceeds from sale of assets $ 4,000,000

2. First mortgage, paid from sale of assets 0.00

3. Fees and expenses of administration of bankruptcy 276,250

4. Wages due workers earned within 3 months prior to filing of bankruptcy petition 0.00

5. Taxes 0.00

6. Unfunded pension liabilities 0.00

7. Available to general creditors $3,723,750

Distribution to general creditors:

Claims of General Creditors

Notes payable

Claim (1) 750,000

Application of 100% Distribution

(2) 750,000

After Subordination Adjustment

(3) 750,000

Percentage of Original Claims Received

(4) 100%

Accounts payable

Claim (1) 375,000

Application of 100% Distribution

(2) 375,000

After Subordination Adjustment

(3) 375,000

Percentage of Original Claims Received

(4) 100%

Subordinated debentures

Claim (1) 750,000

Application of 100% Distribution

(2) 750,000

After Subordination Adjustment

(3) 750,000

Percentage of Original Claims Received

(4) 100%

TOTAL

Claim (1) $750,000+ 375,000+750,000=$1,875,000

Application of 100% Distribution

(2)$750,000+ 375,000+750,000=$1,875,000

After Subordination Adjustment

(3)$750,000+ 375,000+750,000=$1,875,000

Percentage of Original Claims Received

(4)$750,000+ 375,000+750,000=$1,875,000

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3 years ago

Concerts in arenas are not excludable because it is virtually impossible to prevent someone from seeing the show.

stealth61 [152]

True. Concerts in arenas are not excludable because it is virtually impossible to prevent someone from seeing the show.

As long as the arena is outside, people can sit in their cars or on a chair outside and hear the show without paying for admission to get inside. Because they are unable to prevent everyone from hearing it, it is non-exludable. Likewise, if the concert was held inside, it would be excludable because those who aren't paying can not see/hear the show.

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3 years ago

Commenced business by Sarita with her bank balance 100000 and furniture 100000​

Commenced business by Sarita with her bank balance 100000 and furniture 100000