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lara [203]
3 years ago
14

Sally Smith decided to start a sea shell business. Her initial investment in the business consisted of $10,000 in cash. Record t

his transaction in the accounting equation of the new business by:
Business
1 answer:
tensa zangetsu [6.8K]3 years ago
8 0

Based on the transaction that Sally engaged in, recording it will involve:

  • Debiting cash for $10,000.
  • Crediting equity for $10,000.

<h3>Recording Sally's transaction. </h3>
  • The cash transaction is an investment which will be recorded in the Shareholder's Equity account.
  • The investment came in cash so will go to the cash account.

When cash is increased as was the case here, it should be debited. When equity increases as was the case here once more, it is to be credited.

Find out more on shareholder's equity at brainly.com/question/26384373.

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Brees Inc., a company that produces and sells a single product, has provided its contribution format income statement for April.
ch4aika [34]

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Sales (6,200 units) $136,400

Variable expenses 80,600

<u>The total contribution margin is the difference between the sales revenue and the total variable costs. First, we need to determine the unitary selling price and unitary variable costs:</u>

Selling price= 136,400/6,200= $22

Unitary variable cost= 80,600/6,200= $13

Now, we can calculate the total contribution margin at 5,800 units:

Total contribution margin= 5,800*22 - 5,800*13= $52,200

6 0
4 years ago
ABC Mechanics charges an estimate fee of $100 plus $40 per hour, x, in labor. XYZ Mechanics charges an estimate fee of $65 plus
Dima020 [189]

Answer:

5 hours  would work! Hope it helps!

Explanation:

100 off top!

40 in labor for each hour

40 times 5 is 200

so that would cost 300

for xyz

65 off top and 50 in labor for each hour

5 times 50 is 250

250 plus 65 is 315 !

7 0
3 years ago
SilverStone Inc. supplies emission systems worth $100,000 to Horizon Enterprises. As per the terms of sale contract, SilverStone
Hunter-Best [27]

Answer:

<u>The entire $100,000 sales price can be currently recognized since most of the conditions have been met.</u>

<em>Explanation:</em>

Remember, it was mentioned that Silverstone accepted the terms of the sales contract that states "SilverStone takes back all unused emission systems." But a new point was mentioned that four out of the five conditions were met by Silverstone which could grant them 95% percent of sales.

Thus, they can recognize the sales since most conditions were met.

3 0
3 years ago
Swiftspan inc. is a construction company. it uses 202,500 gallons of paint a year. if the ordering costs are $32 per order and h
Alla [95]

1,200 Gallons.

Economic ordering quantity (EOQ) is the most cost efficient amount to order that minimizes both carrying and order costs. The formula is

\sqrt{(2*units  *ordering  costs)/holding  costs \\\\

\sqrt{405,000*32 / 9\\\

\sqrt{1,440,000

1,200 gallons

6 0
3 years ago
If a sales associate is working with a seller on a residential transaction and has not given the seller a brokerage relationship
Sveta_85 [38]

Answer:

hgfrt

Explanation:

4 0
3 years ago
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