Why do you think states have licensing requirements for certain occupations?

Cody Mountain Sports is an outdoor sporting goods guiding service located in northern Wyoming. Cody Mountain Sports (CMS) primar

saveliy_v [14]

Answer:

Cody Mountain Sports (CMS)

T-accounts:

Cash

Date Account Titles Debit Credit

Mar. 1 Common Stock $100,000

Mar. 1 Prepaid Insurance $1,200

Mar. 4 Service Revenue 20,000

Mar. 19 Vehicle Expenses 1,000

Mar. 22 Accounts Receivable 3,000

Mar. 24 Rent Expense 4,000

Mar. 27 Salaries Payable 1,000

Mar. 31 Cash dividends 2,500

Accounts Receivable

Date Account Titles Debit Credit

Mar. 15 Service Revenue $3,000

Mar. 22 Cash $3,000

Prepaid Insurance

Date Account Titles Debit Credit

Mar. 1 Cash $1,200

Salaries Payable

Date Account Titles Debit Credit

Mar. 18 Salaries Expense $10,000

Mar. 27 Cash $1,000

Common Stock

Date Account Titles Debit Credit

Mar. 1 Cash $100,000

Service Revenue

Date Account Titles Debit Credit

Mar. 4 Cash $20,000

Mar. 15 Accounts Receivable 3,000

Salaries Expense

Date Account Titles Debit Credit

Mar. 18 Salaries Payable $10,000

Vehicle Expense

Date Account Titles Debit Credit

Mar. 19 Cash $1,000

Rent Expense

Date Account Titles Debit Credit

Mar. 24 Cash $4,000

Cash Dividends

Date Account Titles Debit Credit

Mar. 31 Cash $2,500

Explanation:

a) Data and Analysis:

Mar. 1 Cash $100,000 Common Stock $100,000

Mar. 1 Prepaid Insurance $1,200 Cash $1,200

Mar. 4 Cash $20,000 Service Revenue $20,000

Mar. 15 Accounts Receivable $3,000 Service Revenue $3,000

Mar. 18 Salaries Expense $10,000 Salaries Payable $10,000

Mar. 19 Vehicle Expenses $1,000 Cash $1,000

Mar. 22 Cash $3,000 Accounts Receivable $3,000

Mar. 24 Rent Expense $4,000 Cash $4,000

Mar. 27 Salaries Payable $1,000 Cash $1,000

Mar. 31 Cash dividends $2,500 Cash $2,500

6 0

3 years ago

Write a short memo to Ms Loki explaining the business performance findings of your statement of cash flow.

UkoKoshka [18]

The memo explaining the business performance findings from the statement of cash flow will entails:

address of the receiver
subject of the memo
body of the memo.

<h3>What is a statement of cash flow?</h3>

This refers to the financial statement that shows how changes in balance sheet accounts and breaks the analysis down to operating, investing and financing activities.

Hence, the memo will inform Ms Loki about business performance findings especially on the cash position of the business such as the inflow and outflow of cash from the firm.

Read more about statement of cash flow

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8 0

1 year ago

Sandy Shores Corporation operates two stores: J and K. The following information relates to J: Sales revenue$1,300,000 Variable

natulia [17]

Answer:

Sandy Shores Corporation

J's Segment Contribution Margin is:

= $700,000.

Explanation:

a) Data and Calculations:

Sales revenue $1,300,000

Variable operating expenses 600,000

Contribution $700,000

Fixed expenses:

Traceable to J and controllable by J 275,000

Traceable to J and controllable by others 80,000

Total fixed expenses 355,000

Net operating income $345,000

b) The contribution margin is the difference between total sales revenue and the variable costs. The idea of segment contribution margin is that it covers the fixed expenses, whether controllable by the segment or not.

5 0

2 years ago

When a company pays a dividend, it isn't as simple as getting a paycheck from one's employer. There are several critical dates i

PtichkaEL [24]

Answer:

Flagon Transcontinental Corp.'s board of directors announced that it will pay a $1 million dividend in three months on this date - Declaration Date On the declaration date, the firm announces that it will pay dividends. If the company is large, it pays for a press release on a newspaper, or even, on TV.

Transcontinental Corp. actually sent the dividend checks to stockholders on this date - Payment Date.

Self-explanatory, this is the date on which checks are sent to shareholders who were recorded eligible for payment on the record-date.

Flagon Transcontinental Corp.'s board of directors declared that whoever is listed as the owner of the stock on this date will receive the dividend for this year - Holder-of-Record date.

Also known as the record date, on this date, the firm determines which shareholders will receive the dividend.

Transcontinental Corp.'s board of directors set this date as the date on which the right to the current dividend no longer accompanies the stock - Ex-Dividend Date.

On this date, the value of the next dividend payment is substracted from the stock price. The Ex-Dividend Date is usually the day before the Record-Date, because shareholders that were found uneligible for dividend payment are now the holders of ex-dividend stocks.

7 0

2 years ago

Consider an asset that has a beta of 1.25. If the risk free rate is 3.25 and the mrket risk premium is 5.5% caculate the expecte

valina [46]

Answer:

10.125%

Explanation:

The formula to compute the expected return on the asset is shown below:

Expected return on the asset = Risk-free rate of return + Beta × (Market rate of return - Risk-free rate of return)

= 3.25% + 1.25 × 5.5%

= 3.25% + 6.875%

= 10.125%

The (Market rate of return - Risk-free rate of return) is also known as the market risk premium and the same is used in the computation part

4 0

3 years ago