The Ascent of Money: Risky Business<br> 1. Why do people buy insurance?

The business owner used $25000 from their personal savings account to but common stock in their company. what would be the journ

irina1246 [14]

The accounting entry is to Credit Cash for 25000 and Debit Common Stock for 25,000

<h3 /><h3>What is journal entry?</h3>

Journal entry shows how a business financial transactions are being recorded.

Typically, when cash is withdrawn from a business or personal account, the accounting entry is to credit the cash account.

Hence, the accounting entry is to Credit Cash for 25,000 and Debit Common Stock for 25.000.

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7 0

2 years ago

those people who own the mode of production are typically of than laborers. group of answer choices a lower class the same class

hoa [83]

Those people who own the mode of production are typically of higher class than laborers.

In the Marxist theory of historical materialism, a mode of production refers to a specific combination of the productive forces, which tend to include the human labour power, and another one is the social and technical relations of production.

So, here Marx says that a person's productive ability and his participation in the social relations are known to be the two essential characteristics of social reproduction. Thus, those people who tend to own the mode of production are typically of the higher class than the laborers.

Hence, option C is correct.

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3 0

1 year ago

Arntson, Inc., manufactures and sells two products: Product R3 and Product N0. The annual production and sales of Product of R3

Vitek1552 [10]

Answer:

$671.92

Explanation:

Note: The full question is attached as picture below

Product R3

Labor-related cost = 40736/7200*5400

Labor-related cost = $30,552

Production orders = 65970/1600*1000

Production orders = $41,231

Order size = 433175/7100*3100

Order size = $189,133

Total overhead = Labor-related cost + Production orders + Order size

Total overhead = $30,552 + $41,231 + $189,133

Total overhead = $260,916

Annual production and sales of Product of R3 = 900 u nit

Overhead cost per unit = Total overhead / Unit

Overhead cost per unit = $260,916 / 900

Overhead cost per unit = $289.92

Direct material = $226

Direct labor = (26*6) = $156

Unit product cost = Overhead cost per unit + Direct material + Direct labor

Unit product cost = $289.92 + $226 + $156

Unit product cost = $671.92.

3 0

3 years ago

At the beginning of 2020, Concord Company acquired a mine for $3,251,600. Of this amount, $124,000 was ascribed to the land valu

Sav [38]

Answer:

A. $737,520

B. $530,320

Explanation:

a. Computation for the total amount of depletion for 2020.

First step is to calculate the Depletion Rate

Depletion Rate = ($3,251,600 - $124,000 + $49,600 + $210,800)/12,100,000

Depletion Rate= $3,388,000/ 12,100,000

Depletion Rate= 0.28

Now let calculate the total amount of depletion for 2020.

2020 Total amount of depletion= 0.28 × $2,634,000

2020 Total amount of depletion= $737,520

Therefore the total amount of depletion for 2020 is $737,520

B. Computation for the amount that is charged as an expense for 2014 for the cost of the minerals sold during 2020.

Expense amount charged= ($737,520/$2,634,000)* 1,894,000

Expense amount charged=0.28 *1,894,000

Expense amount charged=$530,320

Therefore the amount that is charged as an expense for 2014 for the cost of the minerals sold during 2020 is $530,320

7 0

3 years ago

A great feature of QuickBooks Online is that there are other lists you can utilize to make it easier to fill i forms Where would

Juliette [100K]

Answer: A. Go to the Gear icon and select All Lists

Explanation:

QuickBooks online is an accounting software that is used by businesses to make business payments, to pay bills, and can also be utilized to perform payroll functions.

A great feature of QuickBooks Online is that there are other lists that one can use to make it easier to fill i forms and these list can be found in the gear icon where one would then select all lists.

7 0

3 years ago

The Ascent of Money: Risky Business 1. Why do people buy insurance?