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s2008m [1.1K]
2 years ago
11

Question #3

Business
2 answers:
FinnZ [79.3K]2 years ago
8 0
The answer is c: markets
Dennis_Churaev [7]2 years ago
6 0

Answer:

c markets c c c.

explanation:because that is where people meet each other

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Business transactions completed hannah venedict during september are follows. using transactions, record journal entries, create
professor190 [17]

 Cash                         60000

 Office Equipment    25000

To Common Stock                  85000

(Being Cash and equipment introduced in business)

Land                          $40000

Building                    $160000

To Cash                                                  $30000

To Long Term Note Payable                $170000

(Being Land and Building purchased partly by cash and long term note payable)

Office Supplies                      2000

To Accounts Payable                            2000

(Being Office Supplies Purchased on credit)

Automobile                       16500

To Common Shares                            16500

(Being Automobile introduced in lieu of share)

Office Equipment                        $5600

To Accounts Payable                            $5600

(Being Office Equipment Purchased on credit)

Salary                                     $1800

To Cash                                             $1800

(Being Salary Paid in cash)

Cash                                      8000

To Sales                                                8000

(Being Sales made in cash)



6 0
3 years ago
Honestly guys, there is a lot of plagiarizing going on now. Taking someone else’s words off the internet and making it into your
ryzh [129]

plagiarism is wrong to do you could go to prison for this


8 0
3 years ago
Following are the transactions of a new company called Pose-for-Pics
Assoli18 [71]

Answer:

Pose-for-Pics

1. T-accounts:

Cash

Date         Accounts Titles            Debit      Credit

Aug. 1      Common stock           $6,500

Aug. 2     Prepaid Insurance                       $2,100

Aug. 5     Office supplies                                 880

Aug. 20   Photography Fees        3,331

Aug. 31    Utilities                                             675

Aug. 31    Balance                                       $6,176

Common Stock

Date         Accounts Titles            Debit      Credit

Aug. 1       Cash                                           $6,500

Aug. 1       Photography Equipment           33,500

Aug. 31     Balance                       $40,000

Photography Equipment

Date         Accounts Titles            Debit      Credit

Aug. 1      Common stock           $33,500

Prepaid Insurance

Date         Accounts Titles            Debit      Credit

Aug. 2      Cash                             $2,100

Office Supplies

Date         Accounts Titles            Debit      Credit

Aug. 4      Cash                                $880

Photography Fees

Date         Accounts Titles            Debit      Credit

Aug. 20    Cash                                             $3,331

Utilities

Date         Accounts Titles            Debit      Credit

Aug. 31     Cash                             $675

2. Pose-for-Pics

Trial Balance

As of August 31:

Accounts Titles            Debit      Credit

Cash                           $6,176

Common stock                          $40,000

Equipment                33,500

Prepaid Insurance      2,100

Office supplies             880

Photography Fees                        3,331

Utilities expense          675

Totals                    $43,331      $43,331

Explanation:

T-accounts are the general ledger accounts where the transactions of Pose-for-Pics are summarized.  From the T-accounts, the Trial Balance can be prepared to show the list of account balances from the general ledger.  The Trial Balance forms the first basis for the preparation of financial statements after adjustments have been made for accruals, prepayments, deferred revenue, and depreciation expenses.  The Trial Balance may also show that the accounts have been correctly posted with corresponding debit and credit entries.

6 0
2 years ago
The Maroon & Orange Gym, Inc., uses the accrual method of accounting. The corporation sells memberships that entitle the mem
SashulF [63]

Answer:

c. $180 in 2019

Explanation:

The company uses the accrual method of accounting. Under the method, revenues are reported on the income statement when they are earned, regardless of when the money is actually received or paid.

On July 1, 2017, the company sold a one-year membership and a two-year membership. In 2017, The Maroon & Orange Gym, Inc. has provided service for 6 months of each contracts.

Gross income of one-year membership in 2017 = $40 x 6 = $240

Gross income of one-year membership in 2017 = $30 x 6 = $180

Total income = $240 + $180 = $420

In 2018, the company continued to provide service for 6 months remaining of one-year membership and 12 months remaining of two-year membership.

Gross income of one-year membership in 2018 = $40 x 6 = $240

Gross income of one-year membership in 2018 = $30 x 12= $360

Total income = $240 + $360 = $600

In 2019, the company completed providing service for 6 months remaining of two-year membership.

Gross income in 2019 = $30 x 6= $180

4 0
2 years ago
Which act requires that financial institutions must provide a privacy notice to each consumer that explains what data about the
Yakvenalex [24]

Answer:

Gramm–Leach–Bliley Act

Explanation:

The Gramm–Leach–Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999, (enacted November 12, 1999) is an act of the 106th United States Congress (1999–2001). It repealed part of the Glass–Steagall Act of 1933, removing barriers in the market among banking companies, securities companies and insurance companies that prohibited any one institution from acting as any combination of an investment bank, a commercial bank, and an insurance company. With the bipartisan passage of the Gramm–Leach–Bliley Act, commercial banks, investment banks, securities firms, and insurance companies were allowed to consolidate. Furthermore, it failed to give to the SEC or any other financial regulatory agency the authority to regulate large investment bank holding companies. The legislation was signed into law by President Bill Clinton.

5 0
3 years ago
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