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2 years ago

You must complete parts 1, 2, 3, 4, 6, 7 and 8 before attempting to complete part 9. Part 5 is optional.

Business

1 answer:

Crank2 years ago

4 0

Answer:

Sales (Dr.) $45,000

Income Summary (Cr.) $45,000

Income summary (Dr.) $63,900

Advertising Expense (Cr.) $1,200

Rent expense (Cr.) $5,600

Office Supplies Cost (Cr.) $9,800

Insurance Expense (Cr.) $7,000

Sales Returns (Cr.) $2,900

Interest Expense (Cr.) $3,200

Cost of Goods sold (Cr.) $27,500

Selling and administrative expense (Cr.) $6,700

Income Summary (Dr.) $250,000

Capital investment (Cr.) $ 250,000

Explanation:

Closing entries are prepared to close business transactions that occurred during the month. These transactions are closed with a contra account of Income Summary. All debit balance are credited with a debit of Income summary account and vice versa. the temporary account balances are reset to zero after closing entries are passed.

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Because with building costs soaring out of sight, there is pent-up demand for a well-designed, green-built, contemporary home th

Tresset [83]

Answer: The Assembly Process

Explanation: I hope it helps you!

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2 years ago

Abc buys widgets for $5 cash and sells them on account for $8. At the point of sale, what is the effect on the cash flow of abc?

s2008m [1.1K]

At the point of sale, there is an increase in the effect on the cash flow of abc.

What is cash flow?

A cash flow is a real or virtual movement of money.

A cash flow in its narrow sense is a payment (in a currency), especially from one central bank account to another; the term 'cash flow' is mostly used to describe payments that are expected to happen in the future, are thus uncertain and therefore need to be forecast with cash flows.
A cash flow is determined by its time t, nominal amount N, currency CCY and account A; symbolically CF = CF(t,N,CCY,A).
It is however popular to use cash flow in a less specified sense describing (symbolic) payments into or out of a business, project, or financial product.
Cash flows are narrowly interconnected with the concepts of value, interest rate and liquidity. A cash flow that shall happen on a future day t(N) can be transformed into a cash flow of the same value in t(0).

To learn more about cash flow: brainly.com/question/10714011

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2 years ago

Intro to Investing Math Quiz

olga nikolaevna [1]

As a result of having increased from a price of $55 to $85, we can say that the stock value increased by 54.55%

The stock was valued at $55 then it increased to $85. First thing to do is to check how much it increased by in dollar terms:

= New price - old price

= 85 - 55

= $30

In percentage terms, this is:

= Increase/ Old price x 100%

= 30 / 55 x 100%

= 54.55%

In conclusion, the stock value increased by 54.55%

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4 0

2 years ago

The central bank buys $15,000 worth of bonds in the open market from Christopher, who

vladimir2022 [97]

Answer:

(a) What is the amount by which Carla Bank's liabilities have changed?

Carla Bank's liabilities increased by $15,000 (bank deposits are liabilities).

(b) Calculate the change in required reserves for Carla Bank.

Carla Bank's reserves must increase by $15,000 x 5% = $750

(c) What is the dollar value of the maximum amount of new loans Carla Bank can initially make because of Christopher's deposit?

Carla Bank can loan $15,000 x 95% = $14,250

(d) Based on the central bank's open-market purchase of bonds, calculate the maximum amount by which the money supply can change throughout the banking system.

Money multiplier = 1 / 5% = 20

The money supply has the potential to increase by $15,000 x 20 = $300,000

(e) How will the change in the money supply in part (d) affect aggregate demand in the short run? Explain.

Aggregate demand will increase since the total money supply increases. This should also help to decrease the interest rates and foster investment.

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2 years ago

What are the benefits of naming a secondary beneficiary in a will? Check all that apply. It could prevent a will from going into

Gnom [1K]

Answer:

• It could prevent a will from going into probate

•It avoids confusion if the primary beneficiary on dies first

•It allows for another option if the primary beneficiary cannot inherit it

Explanation:

A Secondary beneficiary otherwise known as contingent beneficiary is a person or an entity who has been named in a Will, insurance policy or trust to inherit assets therein should the main or primary beneficiary dies before the grantor.

Secondary beneficiary is important because should the primary beneficiary dies first, he is entitled to the benefits therein inorder to avoid confusion as to who should inherit the deceased's assets. It is also important because it provides other option where the primary beneficiary is not able to inherit the will i.e not found at the time of grantor's death or disclaim inheritance in the will, the secondary beneficiary inherits same and also prevent the will from going into probate i.e allowing it to pass through the court process which is oftentimes time consuming .

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3 years ago