Recording the transaction of providing travel services to the travelers, who paid $22,500 with a balance of $4,500 in the books of the Travel Services Corporation include:
Journal Entries:
Debit Cash $22,500
Debit Accounts Receivable $4,500
Credit Service Revenue $27,000
To record the provision of travel services for cash and on credit.Data Analysis:
Cash $22,500 Accounts Receivable $4,500 Service Revenue $27,000
Thus, the total service revenue recorded for this transaction is $27,000.
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There are selected transactions of Martin Consulting Service. Post the transactions into the appropriate Ledger accounts.
DATE TRANSACTIONS
20x1
Sept. 1 Marcus Martin invested $40,000 in cash to start the firm.
4 Purchased office equipment for $4,350 on credit from Zappo, Inc.; received Invoice 8925, payable in 30 days.
16 Purchased an automobile that will be used to visit clients; issued Check 1001 for $28,000 in full payment.
20 Purchased supplies for $550; paid immediately with Check 1002. 23 Returned damaged supplies for a cash refund of $105.
30 Issued Check 1003 for $2,100 to Zappo, Inc., as payment on account for Invoice 8925.
30 Withdrew $3,000 in cash for personal expenses.
30 Issued Check 1004 for $4,500 to pay the rent for October.
30 Performed services for $11,325 in cash. 30 Paid $480 for monthly telephone bill, Check 1005.
Post the above transactions into the appropriate Ledger accounts.
Martin Consulting Service, posting transactions to the appropriate Ledger accounts are as follows:
Cash
Date Account Titles Debit Credit
Sept. 1 Capital, Martin $40,000
Sept. 16 Automobile $28,000
Sept. 20 Supplies 550
Sept. 23 Supplies 105
Sept. 30 Accounts Payable (Zappo, Inc.) 2,100
Sept. 30 Drawings, Martin 3,000
Sept. 30 Prepaid Rent 4,500
Sept. 30 Service Revenue 11,325
Sept. 30 Utilities Expense 480
Capital, Martin
Date Account Titles Debit Credit
Sept. 1 Cash $40,000
Office equipment
Date Account Titles Debit Credit
Sept. 4 Accounts Payable
(Zappo, Inc.) $4,350
Accounts Payable
Date Account Titles Debit Credit
Sept. 4 Office equipment $4,350
Sept. 30 Cash $2,100
Automobile
Date Account Titles Debit Credit
Sept. 16 Cash $28,000
Supplies
Date Account Titles Debit Credit
Sept. 20 Cash $550
Sept. 23 Cash $105
Drawings
Date Account Titles Debit Credit
Sept. 30 Cash $3,000
Prepaid Rent
Date Account Titles Debit Credit
Sept. 30 Cash $4,500
Service Revenue
Date Account Titles Debit Credit
Sept. 30 Cash $11,325
Utilities Expense
Date Account Titles Debit Credit
Sept. 30 Cash $480
Data Analysis:
Sept. 1 Cash $40,000 Capital, Martin $40,000
Sept. 4 Office equipment $4,350 Accounts Payable (Zappo, Inc.) $4,350
Sept. 16 Automobile $28,000 Cash $28,000
Sept. 20 Supplies $550 Cash $550
Sept. 23 Cash $105 Supplies $105
Sept. 30 Accounts Payable (Zappo, Inc.) $2,100 Cash $2,100
Sept. 30 Drawings, Martin $3,000 Cash $3,000
Sept. 30 Prepaid Rent $4,500 Cash $4,500
Sept. 30 Cash $11,325 Service Revenue $11,325
Sept. 30 Utilities Expense $480 Cash $480
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Financial Calculations
Let's go through a series of calculations for Frank's cookie business.
First, let's determine how much Gross Profit he makes on each batch of cookies.
One batch is 24 cookies.
Frank starts by selling cookies for $1 each.
It costs Frank $10 in materials to make one batch of cookies (sugar, butter, chocolate chips, packaging, etc.)
What is the gross profit per batch of cookies?
Answer:
$14
Explanation:
24 each batch minus 10 is total profit
Sweet Catering completed the following selected transactions during May 2016:
May 1: Prepaid rent for three months, $2,700 May 5: Received and paid electricity bill, $170
May 9: Received cash for meals served to customers, $2,300
May 14: Paid cash for kitchen equipment, $2,700
May 23: Served a banquet on account, $2,000
May 31: Made the adjusting entry for rent (from May 1).
May 31: Accrued salary expense, $1,300
May 31: Recorded depreciation for May on kitchen equipment, $180
Required:
If Sweet Catering had recorded transactions using the Cash method, how much net income (loss) would they have recorded for the month of May?
Answer:
ask the internet
Explanation:
to get your answer hope this was helpful to you
Nicole and Larry have decided to perform the landscaping of their new home by themselves. They also plan to take a do-it-yourself class at a local home store so they can replace the tile in the master bathroom without using a contractor. The effect of performing these tasks themselves will result in an increase in their:
The effect of performing these tasks themselves will result in an increase in their sweat equity.
Sweat equity is simply known as the interest gotten by the owner or increase in worth that is brought about by direct input of hard work by the owner(s).
It is the one method that is mostly adopted in building equity for low-cash entrepreneurs in their start-up ventures due to the fact that they lack the capability to aid much financial capital to their business.
Conclusively, This sweat equity helps individuals or companies to get funds without having more debts while for the workers, it is a case of high risk to get high reward.
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In a market economy, prices are the signals that guide the allocation of scarce resources.
Answer:
True
Explanation:
is D right?
Scarcity can be eliminated through
A) the use of market mechanisms.
B) exploration that helps us find new resources. C) wise use of our resources.
D) None of the above because scarcity cannot be eliminated.
Answer:
C
Explanation:
wise use of our resources
Answer:
Hello, There! I'll be Gald to help!
QuestionScarcity can be eliminated through
AnswerC is the Correct Answer
Explanation:
By Using Our resources Wisely We Would Not have scarity Because We are using them Wisely
Also
This reduces scarcity and gives us more satisfaction from our existing resources.
Therefore The Answer is option C.
Bramble Corp. is planning to sell 200 buckets and produce 880 buckets during March. Each bucket requires 100 grams of plastic and one-half hour of direct labor. Plastic costs $ 10 per 100 grams and employees of the company are paid $ 18 per hour. Manufacturing overhead is applied at a rate of 110% of direct labor costs. Bramble has 1000 kilos of plastic in beginning inventory and wants to have 1000 kilos in ending inventory. How much is the total amount of budgeted direct labor for March
An investor already has some money invested in Company A. She does not have any shares of Companies B and C. She has some extra money available, and she is deciding in which company to invest this extra money right now. The investor beliefs that the following scenarios are likely to occur one year from now:
a. With probability 1/2 the price of one share of Company A will be $100, one share of Company B will be $200, and one share of company C will be $50.
b. With probability 1/2 the price of one share of Company A will be $50, one share of Company B will be $400, and one share of company C will be $25.
In order to diversify her portfolio, the investor should invest in assets that have returns. In this case, the investor should use her extra money to purchase shares from company's: _____________
Questions-
.............
Answer:
????
Explanation:
where the questions
At the profit-maximizing output rate, what is the average total cost?
Variable expenses are defined as those that vary with changes in volume. Examples include
Answer:
Electricity
Explanation:
Hugh has experience as a firefighter and a degree in chemistry. What company might be interested in hiring Hugh
Considering Hugh's experience as a firefighter and a degree in chemistry, the company that might be interested in hiring Hugh is "Fire Protection System Suppliers."
This is because Fire Protection System Suppliers are the companies that provide, manufacture or sell fire fighting products and equipment.
With his knowledge of chemistry, Hugh would understand and know the right chemical and equipment to use in fighting fire faster.
Some of the Fire Protection System Suppliers in the United States include the following:
Koetter Fire Protection, Amerex Corp., Telgia, USA Fire Protection, etc.
Hence, in this case, it is concluded that the correct answer is Fire Protection System Suppliers.
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Answer: A State Agency Looking For A Fire Inspector
Explanation: i just took a quiz and that was the right answer
5. MBO was first described by a. Henry Minzberg b. Henri Fayol. c. Fredrick W. Taylor. d. Peter Drucker.
Answer:
MBO was first described by Peter Drucker.
The difference between corporate governance and social organization management
Answer: The terms corporate governance and corporate social responsibility sound similar, but there is a very important difference between them. Both processes are important for corporations, industries and society at large.
Explanation:
Which is not a type of payroll deduction?
O A. Retirement account contribution
O B. Clothing expenses
O C. State taxes
D. Health insurance premium
Answer B. Clothing expenses
Explanation:
Business plan are also called ROAD MAPS; it’s possible to travel without one, but it will only increase the likelihood of getting lost along the way. Explain to correct answer.
1. The text (page. 220-221) tells the story of Mr. Jones who sues Mr. Smith for taking his briefcase even though he loses a significant amount of money. It also tells the story of why Mr. Jones will make Mr. Smith an offer above the rational choice prediction if they are considering a joint venture where both must participate or the venture fails. Explain what is causing these deviations from rational choice theory and why some knowledge of the person you are dealing with is important. (20 points)
These deviations are likely to be caused by emotions and it is important to have information about the person you are dealing with to favor your interests and make the best decision.
The Rational Choice Theory states:
A person will always make decisions to favor himself or herselfDecisions are based on rational calculationsDespite this, individuals might make irrational decisions if:
Emotions External factorsIn the case of Mr. Jones, he makes an irrational decision because by suing Mr. Smith he loses more money. This is likely motivated by emotions such as a desire for justice or a desire to revenge.
Moreover, in this situation, it is shown Mr. Jones does not have enough information about the person he is dealing with (Mr. Smith) and this lack of knowledge does not allow him to make the best decision possible.
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_________ Refers procedures that connect to the work activities of the different work divisions or units of the firm in order to achieve its overall goal
Answer:
Organizing
Explanation:
Organizing involves coordinating and allocating a firm's resources so that the firm can carry out its plans and achieve its goals. This organizing, or structuring, process is accomplished by: Determining work activities and dividing up tasks (division of labor) Grouping jobs and employees (departmentalization
______________ is the amount an employee earns before payroll withholding is performed.
A.
Net pay
B.
Gross pay
C.
Taxable interest
D.
An estate
Please select the best answer from the choices provided
A
B
C
D
Jamie is considering leaving her current job, which pays $75,000 per year, to start a new company that develops applications for smartphones. Based on market research, she can sell about 50,000 units during the first year at a price of $4 per unit. With annual overhead costs and operating expenses amounting to $145,000. Jamie expects a profit margin of 20 percent. This margin is 5 percent larger than that of her largest competitor, Apps, Inc.
Suppose that Jamie’s estimated selling price is lower than originally projected during the first year. How much revenue would she need in order to earn:
Positive accounting profits?
Positive economic profits
Answer:
Accounting costs = $145,000 (annual overhead costs and operating expenses)
Implicit cost = $75,000 (Value of Salary Given Up)
Opportunity cost = $220,000 (Accounting Costs + Implicit Costs)
Revenue needed to earn positive accounting profits = at least $145,000 (more than accounting costs)
Revenue needed to earn positive economic profits = at least $220,000 (more than opportunity cost)Explanation:
Multiply 3.85% x $45,076 *
First month plus a security deposit is an example of this operating expense.
Equipment
Rent
O Fixtures
Advertising
Answer:
Your answer would be "Rent"
Explanation:
Hope I was able to help ! Have a great day :)
In people focus primarily on individual rights, roles, and achievements
Answer: individual
Explanation:
Explain how the following transactions would affect U.S. net capital outflow. For each transaction, state whether it represents direct investment or portfolio investment.a.An American cellular phone company establishes an office in the Czech Republic.b.Harrods of London sells stock to the General Motors pension fund.c.Honda expands its factory in Marysville, Ohio.d.A Fidelity mutual fund sells its Volkswagen stock to a French investo
The transactions would affect U.S. net capital outflow in the following ways:
Foreign direct investment.Foreign portfolio investment.Foreign direct investmentForeign portfolio investmentAn American cellular phone company that establishes an office in the Czech Republic is an increase in net capital flow and foreign direct investment.
Harrods of London sells stock to the General Motors pension fund is an increase in net capital flow and foreign portfolio investment.
Honda expands its factory in Marysville, Ohio is a decrease in net capital flow and foreign direct investment.
A Fidelity mutual fund sells its Volkswagen stock to a French investor is a decrease in net capital flow and foreign portfolio investment.
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Warner Company has $196,000 of total fixed costs and sells products A and B with a product mix of 40% A and 60% B. Selling prices and variable costs for A and B result in contribution margins per unit of $8 and $4, respectively. Compute the break-even point. Enter product mix answers in decimal form. Round weighted average unit contribution margin to two decimal places, if applicable.
The break-even point of Warner Company is 3,500 units.
Here, we are going to calculate the break-even point of Warner Company.
Product Product Mix Contribution margin Weighted Average unit
[1] per unit[2} contribution margin[1*2]
A 40% $8 $3.2
B 60% $4 $2.4
Total $5,6
Formula for Break Even point is Fixed cost / Weighted average unit contribution margin
Break-even point = $196,000 / $5,6
Break-even point = 3,500 units
Therefore, the break-even point of Warner Company is 3,500 units.
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Explain collaborative ,planning,forecasting and replenishment each scenario briefly and indicate how they benefit supply chain partners,
Explanation:
collarborating is working together to achieve a common goal
What was the CEO of Tyco accused of doing?
A falsifying records to keep the company stock price from falling
B. engaging in insider trading
C. using company funds to pay for his lavish lifestyle
D. hiding debt by transferring it to subsidiaries
please help accounting is always hard to find answers for if there’s any other app what does better let me know !!
The CEO of Tyco was accused of C. using company funds to pay for his lavish lifestyle.
What did Dennis Kozlowski do?
Dennis Kozlowski was the CEO of Tyco but he was found to have evaded taxes by the IRS.
When they investigated his dealings further, they found that he had been using the company's funds to pay for his lavish lifestyle such as purchasing art and taking bonuses.
Find out more on Dennis Kozlowski at https://brainly.com/question/23099133.
#SPJ1
Rủi ro của các doanh nghiệp khi kinh doanh taxi công nghệ
Answer:
Pls translate in english
Explanation:
I dont understand im sorry
How would you balance demands from different stake holders that are at
variance with each other?
i need answers right no
Answer:
what's the whole question
I can't understand
The hazard management process consists of a number of activities designed to reduce loss of life and destruction of property. Natural hazard management has often been conducted independently of development planning. A distinctive feature of OAS technical assistance is the integration of the two processes.
