
Business
, 21.06.2019 21:00 hannahkharel2
On june 1 of the current year, chad wilson established a business to manage rental property. he completed the following transactions during june: opened a business bank account with a deposit of $28,000 from personal funds. purchased office supplies on account, $2,690. received cash from fees earned for managing rental property, $7,390. paid rent on office and equipment for the month, $3,310. paid creditors on account, $1,230. billed customers for fees earned for managing rental property, $6,130. paid automobile expenses (including rental charges) for the month, $740, and miscellaneous expenses, $370. paid office salaries, $2,330. determined that the cost of supplies on hand was $1,590; therefore, the cost of supplies used was $1,100. withdrew cash for personal use, $2,210. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300) answer

Answers: 1
Show answers
Another question on Business

Business, 22.06.2019 00:30
Norton manufacturing expects to produce 2,900 units in january and 3,600 units in february. norton budgets $20 per unit for direct materials. indirect materials are insignificant and not considered for budgeting purposes. the balance in the raw materials inventory account (all direct materials) on january 1 is $38,650. norton desires the ending balance in raw materials inventory to be 10% of the next month's direct materials needed for production. desired ending balance for february is $51,100. what is the cost of budgeted purchases of direct materials needed for january? $58,000 $65,200 $26,550 $25,150
Answers: 1
Answer

Business, 22.06.2019 02:30
The payment of an insurance premium of $5,400 for a three-year policy was debited to prepaid insurance for $5,400 and credited to cash for $4,500. indicate whether the debit or credit total is higher and by how much.
Answers: 2
Answer

Business, 22.06.2019 12:40
When cell phones were first entering the market, they were relatively large and reception was undependable. all cell phones were essentially the same. but as the technology developed, many competitors entered, introducing features unique to their phones. today, cell phones are only a small fraction of the size and weight of their predecessors. consumers can buy cell phones with color screens, cameras, internet access, daily planners, or voice activation (and any combination of these features). the history of the cell phone demonstrates what marketing trend?
Answers: 3
Answer

Business, 22.06.2019 16:00
First bank has cash reserves of $200,000, loans of $800,000, and deposits of $1,000,000. (10 pts) a. prepare a balance sheet for the bank. b. if the bank maintains a 15% reserve requirement, what is the largest loan it can make? c. what is the maximum amount by which the money supply can grow as a result of first bank’s new loan? d. if the reserve requirement is reduced to 12%, how much more money can the bank lend?
Answers: 2
Answer
You know the right answer?
On june 1 of the current year, chad wilson established a business to manage rental property. he comp...
Questions

English, 26.06.2020 15:01
Which key details does Orwell include to support the central idea that Snowball uses his language skills to manipulate the other animals? Select four...

Business, 26.06.2020 15:01
A pension fund that begins with $500,000 earns 15% the first year and 10% the second year. At the beginning of the second year, the sponsor contribute...

Mathematics, 26.06.2020 15:01
Introduction: In this section, you will briefly describe the mathematical theorem you selected, what you are trying to answer with your report, the ap...

Mathematics, 26.06.2020 15:01
Expression A: 14z + 9z Expression B: (14 + 9)z Are the two expressions equivalent? OA. No, because for z = 5, the value of Expression A i...

Biology, 26.06.2020 15:01
F. Answer the following questions in brief. 1. Why should we use fossil fuels judicially?3. Define the term 'fossil fuel. Give two examples.

English, 26.06.2020 15:01
Who is called as the toto...

Mathematics, 26.06.2020 15:01
Find the maximum/minimum value of the quadratic function x2 – 10x = y + 40 by completing the square method....

English, 26.06.2020 15:01
King's central idea is to make listeners believe they deserve equality. What textual evidence supports the main idea? "This is no time to engag...

Mathematics, 26.06.2020 15:01
you currently have 24 credit hours and a 2.8 gpa you need a 3.0 gpa to get into the college. if you are taking a 16 credit hours this semester. what g...

Mathematics, 26.06.2020 15:01
What is the algebraic expression for "the sum of three times a number and seven"? A. 3 x + 7 B. 3 x + 11 x C. 3 + 7 x...

Mathematics, 26.06.2020 15:01
HUY PLEASASS! The swimming pool at Spring Valley High School is a rectangle with a width of 70 meters and a length of 25 meters. Around the perimeter...

Mathematics, 26.06.2020 15:01
The probability of a biased coin landing on heads is 2/7 complete the tree diagram

Biology, 26.06.2020 15:01
In three separate site-directed mutagenesis experiments, scientists altered a catalytic Lys residue in corn PEP carboxylase to an Asn, Glu, or Arg. Wh...

Mathematics, 26.06.2020 15:01
Find the saving balance after 18 months with and apr of 3% and monthly payments of $250...

Business, 26.06.2020 15:01
An American university professor derives a new formula which explains a fundamental principle of nature. In the United States, this formula: Select on...

Mathematics, 26.06.2020 15:01
Data was collected for a sample of organic snacks. The amount of sugar (in mg) in each snack is summarized in the histogram below. 2 4 6 8 10 12 14 am...

Business, 26.06.2020 15:01
urgent to me please! Let: C = consumption, Ip = investment spending (as a function of price level), G = government spending, Tx = tax revenue, Yd = af...

English, 26.06.2020 15:01
What is the "trap of deification" referred to in line 85? a state of perfection that by its nature precludes change or growth an absence...

Health, 26.06.2020 15:01
The Food and Drug Administration requires all processed-food companies to provide detailed nutritional information clearly identifying calories, fats,...

Social Studies, 26.06.2020 15:01
What is patrilineal primogeniture, introduced during the Zhou Dynasty?...
More questions: Business Another questions