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2 years ago

Wilma’s Vegetable Market had the following transactions during 2017:

Business

1 answer:

babymother [125]2 years ago

4 0

Answer:

Journal Entries are as follows.

Explanation:

1. Cash $25,000 (Debit)

Common Stock $ 25,000 (credit)

2. Wages $10,000 (debit)

Cash $10,000 (credit)

3. Land $ 50,000 (debit)

Common Stock $50,000 (credit)

4. Dividend Declared $ 1000 (debit)

Dividend Payable $ 1000 ( credit)

And

Dividend Payable $ 1000 ( debit)

Cash $ 1000 (credit)

5. Cash $ 3000 (debit)

Long Term Investment $ 3000 (credit)

6. Cash $ 20,000 (debit)

Sales $ 20,000 ( credit)

7. Inventory $2000 (debit)

Cash $ 2000 (credit)

8. Investment $ 6000 ( debit)

Cash $ 6000 (credit)

9. Bonds Payable $ 10,000 (debit)

Discount $ 1000 (credit) ( if there's any)

Common Stock $ 9,000 ( credit ) ( in case of discount)

10. Notes Payable $ 10,000 (debit)

Interest on Notes Payable $ 1,000 (debit) ( suppose there's interest of $ 1000 on $ 10,000 Notes Payable)

Cash $ 11,000 (credit)

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Answer:

The above statement is true .

Explanation:

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2 years ago

What factors are used in the rule-of-thumb methods to determine the communication budget?.

kvv77 [185]

The factors that are used in the rule-of-thumb methods to determine the communication budget is "Prior sales and communication activities".

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The rule of thumb would be a cognitive guideline that offers basic guidelines or guidance that is distilled for a certain topic or course of action.

Some characteristics of rule-of-thumb are-

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Rules of thumb may not apply to your specific scenario because they not scientific and don't take into consideration the unique circumstances and demands of each individual.
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1 year ago

Leo is a welfare recipient who qualifies for two means-tested cash benefit programs. If he does not earn any income, he receives

lubasha [3.4K]

Answer:

The correct answer is B.

Explanation:

Giving the following information:

If he does not earn any income, he receives $225 from each program. For each dollar he earns (which his employer is required to report to the welfare agency), his benefit from each program is reduced by 75 cents until the benefit equals zero.

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2 years ago

If the fixed costs for a product decrease and the variable costs (as a percentage of sales dollars) decrease, what will be the e

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Answer:

Option (b) is correct.

Explanation:

Contribution margin ratio is the difference between the selling price of the product and the variable cost of the product.

Contribution margin ratio = Selling price - Variable cost

Now, if there is a decrease in the fixed costs and variable costs of the product then as a result contribution margin ratio increases because of the fall in variable cost.

Break even point = (Fixed expense ÷ Contribution margin ratio)

If there is an increase in the contribution margin ration and a reduction in the fixed expense then as a result break even point decreases.

Increased; Decreased

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2 years ago

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Answer:

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