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anygoal [31]
3 years ago
8

Terapin Company engages in the following external transactions for November.

Business
1 answer:
balandron [24]3 years ago
5 0

Answer and Explanation:

The journal entries are shown below:

1. Equipment Dr $21,300

          To cash $21,300

(Being the equipment is purchased for cash)

For recording this we debited the equipment as it increased the assets and credited the cash as it reduced the assets

2. Cash Dr $6,100

       To Service revenue $6,100

(Being the cash received is recorded)

For recording this we debited the cash as it increased the assets and credited the service revenue as it increased the revenue

3. Rent expense $900

       To Cash $900

(Being the rent is paid)

For recording this we debited the rent expense as it increased the expenses and credited the cash as it reduced the assets

4. Office supplies Dr

        To Account payable

(Being the office supplies purchased on account)

For recording this we debited the office supplies as it increased the assets and credited the account payable as it increased the liabilities

5. Salaries expense

           To cash

(Being the salaries paid is recorded)

For recording this we debited the salaries expense as it increased the expenses and credited the cash as it reduced the assets

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allochka39001 [22]

Answer:

The correct answer is B: U.S.​ tourists' expenditures in foreign countries.

Explanation:

To be listed as a surplus in the U.S. balance of payments, it needs to be an entry of money to the economy. The option B is the only one that does not meet the requirements. U.S.​ tourists' expenditures in foreign countries mean an exist of money to other countries.

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3 years ago
When using the needs approach, several "special needs" should be considered. One special need is money to cover unexpected event
12345 [234]

Answer:

Emergency fund.

Explanation:

Emergency funds are money that we keep on hand in case of unforeseen events. It may cover car repairs, unforeseen buying, medical bills and so on.

It is important to hold some emergency funds so as to avoid being stranded with no access touch needed resources.

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3 years ago
Organizational change can best be defined as​ ________.
Paul [167]
Organizational change can best be defined as​ <span>any alteration of​ people, structure, or technology</span>.

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6 0
3 years ago
On July 1, Stan, a steel manufacturer, telephoned Byron and offered to sell Byron six carloads of steel at $600 a ton. Byron sai
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<u>Explanation:</u>

In the given case it is valid contract as there is time, promise, benefit and obligation to do thing. But verbal contracts are difficult to prove. Stan and Byron have a verbal contract which is a promise for 10 days and the contract has exchange of goods for $600. Offer is made by Byron but the acceptance is not yet given by Stan.

Here only the offer is made and it is not yet accepted by Byron. here Stan has revoked the offer through letter so the revoke has been communicated to the other party through letter. So in this case there is no breach of contract as the contract was clearly revoked by Stan through his letter.

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Exercise 2-10 Applying Overhead Cost to a Job [LO2-2] Sigma Corporation applies overhead cost to jobs on the basis of direct lab
OlgaM077 [116]

Answer:

See explanations below.

Explanation:

1. Yes. Overhead should be applied to job W at year-end. Overhead is applied to every jobs whether or not they are completed at year end.

b. To calculate the amount of overhead to be applied to job W, we need to calculate first the overhead application rate based on direct labor cost through job V.

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Overhead applied $6,000

Overhead rate = [ Overhead applied / Direct labor cost ] × 100

= [6,000/8,000] × 100

= 75%

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