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Vlada [557]
3 years ago
13

Nike Inc is one of the world leading atheletic shoes manufacturer. The following activities occurs during the recent year: Purch

ased additional buildings for $176 and equipment for $270; paid $408 in cash and signed a long-term note for the rest. Issued 120 shares of $2 par value common stock for $345 cash. Declared $145 in dividends to be paid in the following year. Purchased additional short-term investments for $7,616 cash. Several Cannon Sporting Goods investors sold their own stock to other investors on the stock exchange for $86. Sold $4,413 in short-term investments for $4,413 in cash.Prepare journal entries.
Business
1 answer:
Ksenya-84 [330]3 years ago
8 0

Explanation:

The journal entries are shown below:

1. Building A/c Dr $176

  Equipment A/c Dr $270

               To Cash A/c $408

                To Note payable A/c $38

(Being the building and the equipment is purchased for cash and note payable)

2. Cash A/c Dr $345

        To Common stock $240 (120 shares × $2)

        To Additional paid in capital A/c - Common stock A/c $105

(Being the common stock is issued for cash)

3. Retained earnings A/c Dr $145

            To Dividend payable A/c $145

(Being the dividend is declared)

4. Short - term investment A/c Dr $7,616

            To Cash A/c $7,616

(Being the short term investment is purchased for cash)

5. No journal entry is required

6. Cash A/c Dr $4,413

           To Short - term investment A/c $4,413

(Being the short-term investment is purchased)

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Alex receives a raise at work and continues to work the same number of hours each week. what is the most likely way that his dem
Murljashka [212]

An inferior good is a type of welfare whose demand decreases when consumer income increases or demand increases when consumer income decreases. Therefore, if a consumer considers shirts to be inferior goods, the way he will stop consuming it will be when there is a real increase in his income.

In the case narrated, Alex had an increase in salary and remained working for the same number of hours. This means that with the same job, he will have a higher income, meaning there was a real increase in Alex's income. If he considers the $ 3 shirts a much lower asset, he will lessen the demand for it.

3 0
3 years ago
Read 2 more answers
Where can you access the sample company - Long For Successful Events?
guajiro [1.7K]

The place where you can access the sample company - Long For Successful Events is through the "icon."

In QuickBooks Online Advanced application.

  • Go to the Settings menu:
  • Then click on the Icon tab.
  • Then follow up by selecting the Sample company.

QuickBooks Online is used for many financial activities of a company, such as managing income and expenses, keeping a record of the finances of business activities.

Hence, in this case, it is concluded that the correct answer is through the company <u>icon</u> in the QuickBooks Online settings.

Learn more here: brainly.com/question/20376246

6 0
2 years ago
Suppose that a 10 percent increase in the physical capital stock increases GDP by 10 percent. Nowconsider an additional 10 perce
Artyom0805 [142]

Answer:

B. Less than 10%

Explanation:

An addition increase by 10 % in the physical capital stock (which is a factor of production consisting of man made goods like machineries and so on) will lead to a less than 10% increase in the Gross domestic product. This is due to the law of diminishing marginal utility which talks about the consumption increases marginal utility from each additional unit declines. Thus, the more the physical capital stock increases, the GDP will increase at a decreasing rate.

7 0
3 years ago
Before the last presidential debates, 50% of registered votes indicated they were planning to vote for the incumbent president.
MAVERICK [17]

Answer:

a) H₀ : p = 0.5

H_{a} : p > 0.5

b) z = 2.0785

c) p - value = 0.0188

d) Our conclusion is that there has been a significant increase in the proportion of registered voters who are planning to vote for the incumbent president

Explanation:

Probability of those planning to vote for the incumbent president before the debate, P₀ = 50/100 = 0.5

a) The null and the alternative hypothesis

Let the null hypothesis be represented by H_{0}

and the alternative hypothesis be represented by H_{a}

H₀ : p = 0.5

H_{a} : p > 0.5

b) compute the test statistics

sample size, n = 1200

number of voters planning to vote for the incumbent president, x = 636

Probability of those planning to vote for the incumbent president in the selected sample:

\bar{p} = x/n\\\bar{p} = 636/1200\\\bar{p} = 0.53

Formula for the test statistic:

z = \frac{\bar{p} - p_{0} }{\sqrt{\frac{p_{0}(1-p_{0} ) }{n} } }

z = \frac{0.53 - 0.5 }{\sqrt{\frac{0.5(1-0.5 ) }{1200} } }

z = 2.0785

c)

For \alpha = 0.05\\, the critical value as checked from the normal table will be:

z_{\alpha} = 1.645

The P value for z > 2.0785

P-value = P(z > 2.0785) \\P - value = \phi (-2.0785)\\P - value = 0.0188

d) What do you conclude?

since ( z = 2.0785) > (z_{\alpha} = 1.645), we will reject the null hypothesis.

Our conclusion is that there has been a significant increase in the proportion of registered voters who are planning to vote for the incumbent president

6 0
3 years ago
The receiving department of Owen has three activities: unloading, counting goods, and inspecting. Unloading requires a forklift
Drupady [299]

Answer:

d.$56,000

Explanation:

For computing the cost of counting, first we have to calculate the total salary amount which is shown below:

Total Salary = Average salary × number of employees

                    = $35,000 × 4 employees

                    = $140,000

Now the cost of counting would be equal to

= Total salary × counting percentage

= $140,000 × 0%

= $56,000

5 0
3 years ago
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