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)
Answer: 21000
Explanation:
Direct materials inventory desired = 6,000
Purchase of direct materials budgeted = 5000
Pounds needed for production = 5000 × 4 = 20000
The number of pounds in Salter's beginning direct materials inventory on January 1 will be:
= Direct materials inventory desired + Pounds needed for production -
Purchase of direct materials budgeted
= 6000 + 20000 - 5000
= 21000 pounds
1) Banks hold excess and secondary reserves toA) reduce the interest-rate risk problem.
2) Which of the following statements most accurately describes the task of bank asset management?
b. Banks seek to have the highest liquidity possible subject to earning a positive rate of return on their operations.
3) The goals of bank asset management include
d. purchasing securities with high returns and low risk.
Hope this helps. Have a nice day.
Answer:
Yes
Explanation:
Based on the information provided within the question we can say that Yes, the dealership is contractually bound to sell Mike the car at that price. This is assuming that the ad handed to the dealership by Mike is an actual ad that was designed and published by the dealership. If this is the case the dealership must uphold their price or it will be considered false advertisement and Mike would have a basis on which to sue the business.
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