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andrezito [222]
3 years ago
6

Yoplease solve this journal entries as soon as possible ​

Business
1 answer:
Elodia [21]3 years ago
4 0

Answer:

1. Drawings A/c. dr. 15,000

To Cash A/c. 15,000

2. Cash A/c. Dr. 63,000

To Sales A/c. 63,000

3. Drawings A/c. Dr. 12,000

To Cash A/c. 12,000

4. Purchases A/c. Dr. 31,000

To Creditors A/c. 31,000

5. Drawings A/c. Dr. 16,000

To Purchases A/c. 16,000

6. Dalip Singh A/c. Dr.35,000

To Sales A/c. 35,000

7. Rent A/c. Dr. 22,000

To Bank A/c. 22,000

8. Purchases A/c. Dr. 19,000

To Cash A/c. 19,000

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Albright Company purchased as a long-term investment $500,000 of Benton Corporation 10-year, 9% bonds. Required: Present entries
katen-ka-za [31]

Answer:

March 1, purchased securities from Benton Corporation:

Dr Investment in securities 500,000

    Cr Cash 500,000

May 1, sold half of securities plus accrued interest:

Dr Cash 248,550

Dr Loss on investment in securities 5,000

Dr Brokerage fees 200

    Cr Investment in securities 250,000

    Cr Interest revenue 3,750

Securities were sold at 98 or $250,000 x 98% = $245,000, which means that the company lost $5,000 with that investment.

5 0
3 years ago
Select the correct answer.
Cerrena [4.2K]

Answer:

A.

They ensure that people and businesses can buy what they need.

Explanation:

Borrowing involves requesting and receiving a huge sum of money in a lump sum. Households and firms borrow from lenders to finance business expansion or domestic consumption.

In the economy, borrowing is significant as it facilitates the acquisition of start-up capital, capital goods, and household developments. Without borrowing and lending, these investments and consumption would not be possible as they require large sums of money to initialize. If firms and households depended on savings for capital and consumption expenditure, the rate of economic growth would be very slow. It would take many years to achieve the substantial amount needed for expansion and development projects.

4 0
3 years ago
Russell was determined to make a big change in the thought process behind police officer roles in communities. What were some of
harkovskaia [24]

Explanation:

Area = Area of sides + area of semicircle thing

= (2*0.21*0.31) + (2*0.31*0.61) + (0.21*0.61) + ( 3.14*0.105*0.61) + (3.14*0.105*0.105) = 0.872 m^2

Total area = 0.872 *1106 =964.43 m^2

Answer =965 m^2

8 0
3 years ago
Martin transfers real estate with an adjusted basis of $260,000 and fair market value of $350,000 to a newly formed corporation
katrin [286]

Answer:

$40,000

Explanation:

We can calculate recognized gain on the transfer and basis for his stock just by deducting adjusted basis value from liability on the transfered real estate.

Calcuation

iability on the transfered real estate        $300,000

less: adjusted basis value                       ($260,000)

Gain recognized                                        $40,000

3 0
3 years ago
Read 2 more answers
Under the FLSA, regular rate of pay does not include: A. vacation pay. B. severance pay. C. overtime pay. D. earned bonuses. E.
Galina-37 [17]

Answer:

The correct answer is A

Explanation:

FLSA stands for Fair Labor Standard Act, which is defined as the act that usually requires, the covered non- exempt employees to receive the overtime pay, at least 1 and 1/2 times of their regular pay for the time they worked in excess of the 40 hours per week of the work.

The regular rate is defined as the remuneration which involves all the employment remuneration that are subject to the exclusions mentioned in the Section 7 under sub section (e) of the FLSA.

So, the vacation pay is the one which is not involved in the regular rate as any time earned gained over 40 along with the vacation is the straight time which will not be paid.

5 0
3 years ago
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