Mia’s gross pay is $2954. Her deductions total $724. 15. What percent of her gross pay is take-home pay?.

Post the journal entries to the T-accounts, using transaction dates as posting references in the ledger accounts.

umka2103 [35]

Answer:

July 1. Yardley contributed $68,000 cash to the business in exchange for common stock.

Dr cash 68,000

Cr common stock 68,000

July 5. Paid monthly rent on medical equipment, $510.

Dr rent expense 510

Cr cash 510

July 9. Paid $16,000 cash to purchase land to be used in operations.

Dr land 16,000

Cr cash 16,000

July 10. Purchased office supplies on account, $1 ,600.

Dr office supplies 1,600

Cr accounts payable 1,600

July 19. Borrowed $26,000 from the bank for business use.

Dr cash 26,000

Cr notes payable 26,000

July 22. Paid $1,100 on account.

Dr accounts payable 1,100

Cr cash 1,100

July 28. The business received a bill for advertising in the daily newspaper to be paid in August, $250.

Dr advertising expense 250

Cr accounts payable 250

July 31. Revenues earned during the month included $6,300 cash and $5,300 on account.

Dr cash 6,300

Dr accounts receivable 5,300

Cr service revenue 11,600

July 31. Paid employees' salaries $1 ,900, office rent $1 ,400, and utilities $600. Record as a compound entry.

Dr wages expense 1,900

Dr rent expense 1,400

Dr utilities expense 600

Cr cash 3,900

July 31. The business received $1 ,340 for medical screening services to be performed next month.

Dr cash 1,340

Cr unearned revenue 1,340

July 31. Paid cash dividends of $6,900.

Dr dividends 6,900

Cr cash 6,900

cash

debit credit

July 1 68,000

July 5 510

July 9 16,000

July 19 26,000

July 22 1,100

July 31 6,300

July 31 3,900

July 31 1,340

July 31 <u> 6,900</u>

101,640

accounts receivable

debit credit

July 31 5,300

office supplies

debit credit

July 10 1,600

land

debit credit

July 9 16,000

accounts payable

debit credit

July 10 1,600

July 22 1,100

July 28 <u> 250 </u>

750

unearned revenue

debit credit

July 31 1,340

notes payable

debit credit

July 19 26,000

common stock

debit credit

July 1 68,000

service revenue

debit credit

July 31 11,600

rent expense

debit credit

July 5 510

July 31 1,400

advertising expense

debit credit

July 28 250

wages expense

debit credit

July 31 1,900

utilities expense

debit credit

July 31 600

dividends

debit credit

July 31 6,900

4 0

3 years ago

One bag of flour is sold for $1.00 to a bakery, which uses the flour to bake bread that is sold for $3.00 to consumers. A second

Phoenix [80]

Answer:

The correct answer is option b.

Explanation:

GDP is a measure of economic growth that shows the level of final goods and services produced in an economy in a year. It includes only final goods and services, intermediate goods are not included.

So here the value of flour used to make bread will not be included as it is an intermediate good. But the value of bread will be included. The value of the second bag of the floor will be included as it is a final good sold to the consumer.

Increase in GDP

= $3 + $2

= $5

8 0

2 years ago

You are writing a proposal to restructure your department's organizational chart. Your manager was a member of the committee tha

Bess [88]

Answer:

a. the purpose of this proposal is to show how we can reorganize our department to improve our efficiency while keeping intact the values that have allowed us to succeed to this point.

Explanation:

If you are writing a restructuring proposal, it means that you have mapped out points that can be improved in your department. However, the organizational structures of firms can rarely be changed drastically. What are usually applicable are the policies for improving processes, so that they become more and more efficient. This applies in general, but especially if you are going to propose changes to a structure that was designed by a superior of yours, who probably has more experience than you. Thus, you must present a restructuring project that identifies points to be improved, that proposes alternatives for improvement, but that maintains the values policy that was instituted by your manager. In this way, your manager will see your contribution as adding value to the structure and your work will be valued.

3 0

3 years ago

At the end of every 3 months, Teresa deposits into an account that pays 5% compounded quarterly. After she puts the accumulated

NikAS [45]

Answer:

The amount Teresa will have accumulated when this certificate matures is $2,452.16.

Explanation:

Note: This question is not complete as some important data are omitted. The complete question is therefore provided before answering the question as follows:

At the end of every 3 months, Rita deposits $100 into an account that pays 5% compounded quarterly. After 5 years, she puts the accumulated amount into a certificate of deposit paying 8.5% compounded semiannually for 1 year. When this certificate matures, how much will Teresa have accumulated?

The explanation of the answers is now provided as follows:

Step 1: Calculation of accumulated amount after 5 years.

Since the deposits are paid at the end of every 3 months, the accumulated amount after 5 years can be calculated using the formula for calculating the Future Value (FV) of an Ordinary Annuity as follows:

FV5 = P * (((1 + r1)^n1 - 1) / r) ................................. (1)

Where,

FV5 = Future value or accumulated amount after 5 years = ?

P = Quarterly deposit or deposit at the end of every 3 months = $100

r = Quarterly interest rate on the account = Interest rate on the account / Number of quarters in a year = 5% / 4 = 0.05 / 4 = 0.0125

n = number of quarters = 5 years * Number of quarters in a year = 5 * 4 = 20

Substituting the values into equation (1), we have:

FV5 = $100 * (((1 + 0.0125)^20 - 1) / 0.0125) = $2,256.30

Therefore, the accumulated amount after 5 years is $2,256.30.

Step 2: Calculation of the amount Teresa will have accumulated when this certificate matures.

This can be calculated using the simple future value (FV) as follows:

FVM = FV5 * (1 + R)^N ……………………… (2)

FVM = Accumulated amount at maturity = ?

R = semi-annual interest rate on certificate of deposit = Interest rate on certificate of deposit / Number of semiannuals in a year = 8.5% /2 = 0.085 / 2 = 0.0425

N = number of semiannuals = 1 year * Number of semiannuals in a year = 1* 2 = 2

Substituting the values into equation (2), we have:

FVM = $2,256.30 * (1 + 0.0425)^2 = $2,452.16

Therefore, the amount Teresa will have accumulated when this certificate matures is $2,452.16.

3 0

2 years ago

If you believe in the ________ form of the EMH, you believe that stock prices reflect all relevant information including histori

Alex

Answer:

A)semistrong

Explanation:

As regards to finance, the efficient-market hypothesis known as "EMH"

gives assertion that financial markets can be regards as "informationally efficient. ”

The EMH three forms which are:

1)weak

2) semi-strong

3)strong

it gives evaluation of the influence that MNPI(material Nonpublic Information ) has on market prices. It explains that when markets are efficient then the current prices reflect all information.

Semi-strong-form give a claim that prices gives reflection of all publicly available information, it also claims that

that prices instantly change to to gives a reflection of new public information.

The weak-form gives a claim that prices that is on traded assets such as bonds or stock gives reflection of

all publicly available information in the past . It should be noted that If you believe in the semistrong form of the EMH, you believe that stock prices reflect all relevant information including historical stock prices and current public information about the firm, but not information that is available only to insiders.

3 0

2 years ago