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2 years ago

Prepare journal entries for each transaction and identify the financial statement impact of each entry.

Business

1 answer:

madam [21]2 years ago

7 0

Answer:

Cash (Dr.) $21,200

Common Stock (Cr.) $21,200

Cash (Dr.) $4,500

Services to client (Cr.) $4,500

Cash (Dr.) $11,200

Unearned Revenue (Cr.) $11,200

Cash (Dr.) $5,900

Accounts Receivable (Cr.) $5,900

Cash (Dr.) $11,000

Notes Payable (Cr.) $11,000

Explanation:

Adams services may record these transactions as journal entries. The transactions may have some changes after they are recorded then adjusting entries will be prepared to reflect the correct effect of transaction on business activities.

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Mid-Town Auto Parts Company uses the direct method to prepare its statement of cash flows. Refer to the following information r

Lera25 [3.4K]

Answer:

Collection from Customers =$487,000

Explanation:

Collection from Customers=account receivable beginning balance+sales revenue-account receivable ending balance

=97000+$519,000-$65,000

=$487,000

7 0

2 years ago

To reduce the amount of time it takes to apply packaging to its finished products, North Star Foods is implementing new equipmen

TiliK225 [7]

Answer:

B. primary activity

Explanation:

Based on the information provided within the question it can be said that in this scenario North Star is addressing a primary activity in the value chain analysis. This is because the five primary activities are inbound logistics, operations, outbound logistics, marketing and sales, and service. So in this scenario, North Star implementing new equipment into its production it is dealing with the operations factor of the primary activities.

8 0

2 years ago

Factor proportions theory differs from the theory of comparative advantage in that the focus of factor proportions theory is on

Tom [10]

Answer:

The correct answer is letter "C": usage of the most abundant factors of production, while the focus of the comparative advantage theory is on the productivity of the production process.

Explanation:

The Factor Productions theory, also known as the <em>Heckscher-Ohlin</em> theory, is a concept that tries to explain how international trade works. It is based on the focus that production increases capital and labor to an equal importance level. While, the Comparative Advantage theory is defined as the ability of an individual, company, or country to produce a good or service at a lower opportunity cost than its competitor.

5 0

2 years ago

enrique borrowed $3600 to put a down payment on a motorcycle. the loan had a simple interest rate of 8% for 2 years. use the fo

Rudik [331]

Answer:

The amount of interest is $576.

Step by step explanation :

Given : Enrique borrowed $3600 to put a down payment on a motorcycle. The loan had a simple interest rate of 8% for 2 years.

To find : The amount of interest he will pay on the loan.

Solution : Using the formula,

$I=P\times R\times T$

Where, I= Interest , P=principal , R= rate, T=time in years

We have given that :

P=$3600

R=8%=0.08

T=2 years

Substitute value in the formula to find interest,

$I=P\times R\times T$

$I=3600\times 0.08\times 2$

$I=576$

Therefore, The amount of interest is $576.

6 0

2 years ago

A project manager is faced with the following activities and times associated with a building construction for a cancer research

iogann1982 [59]

Answer:

$12000 ( A )

Explanation:

Calculate The minimum cost to crash this project by 2 weeks

To get the minimum cost to crash this project in 2 weeks we have to first look to crash the activity on the critical path that has the lowest cost of crashing from the first week

critical path: A-B-D-F-G = 25 weeks

After crashing Activity B by 1 week both paths become critical paths hence we need to crash activity C and D by 1 week each so that the paths can crash simultaneously within 2 weeks

therefore the overall crash cost for 2 weeks will be

crash costs of Activities : B + C + D ( 1st crashes)

= 3500 + 4000 + 4500

= $12000

3 0

2 years ago