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antoniya [11.8K]
2 years ago
7

The Chewbacca Starship Company had the following transactions during the month of December:

Business
1 answer:
Naily [24]2 years ago
3 0

Answer:

The Chewbacca Starship Company

T-accounts:

Cash

Date   Account Titles                 Debit        Credit

Dec. 1 Beginning balance      $73,500

Dec. 31 Salaries expense                        $57,000

Dec. 31 Accounts receivable 265,000

Dec. 31 Accounts payable                       210,000

Accounts receivable

Date   Account Titles           Debit        Credit

Dec. 1 Beginning balance   $60,000

Dec. 31 Sales revenue         154,000

Dec. 31 Cash                                     $265,000

Accounts payable

Date   Account Titles           Debit        Credit

Dec. 1 Beginning balance                  $39,000

Dec. 31 Inventory                               230,000

Dec. 31 Cash                    $210,000

Inventory

Date     Account Titles           Debit        Credit

Dec. 31 Accounts payable   $230,000

Sales revenue

Date     Account Titles           Debit        Credit

Dec. 31 Accounts receivable              $154,000

Salaries Expense

Date     Account Titles           Debit        Credit

Dec. 31 Cash                       $57,000

Explanation:

a) Data and Analysis:

a. Inventory $230,000 Accounts payable $230,000

b. Salaries expense $57,000 Cash $57,000

c. Accounts receivable $154,000 Sales revenue $154,000

d. Cash $365,000 Accounts receivable $265,000

e. Accounts payable $210,000 Cash $210,000

Opening balances:

Cash $73,500

Accounts receivable $60,000

Accounts payable $39,000

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Answer:

Omega Company

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Explanation:

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Product Y therefore produces a greater total profit.  This is because the fixed cost will remain the same if there are no avoidable elements.

5 0
3 years ago
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mr Goodwill [35]

Answer:

A. $35,000

Explanation:

The first $150,000 were invested in research and development of the product itself, not the patent. Thus, this amount should be debited to research and development expenses.

The only expenses directly related to the patent itself are the $20,000 spent on legal fees on January 2, 2017, and the $15,000 for legal fees in a successful defense of the patent on July 31, 2017.

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3 years ago
Suppose that General Motors Acceptance Corporation issued a bond with 10 years until​ maturity, a face value of $ 1 comma 000​,
astraxan [27]

Answer:

$1,073.60

Explanation:

bond's current price = PV of face value + PV of coupons

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Answer:

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A. observable artifacts

Explanation:

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