Required information [The following information applies to the questions displayed below.] Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $8,200 cash and $35,200 of photography equipment in the company in exchange for common stock. 2 The company paid $3,800 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $1,050 cash. 20 The company received $5,031 cash in photography fees earned. 31 The company paid $845 cash for August utilities. Prepare general journal entries for the above transactions.

Answer and Explanation:

1. The computation of lease receivable is shown below:-

Amount of Lease Receivable = Present value amount i.e calculated by using the present value formula shown in the spreadsheet

Given that

Rate = 8%

NPER = 7 years

PMT = $26,143

FV = $0

The formula is

= -PV(RATE;NPER;PMT;FV;TYPE)

After applying this above formula, the present value is $146,998.94

2. Now The Journal entry is shown below:-

a. Lease Receivable A/c Dr,  $146,998.94

   Cost of Goods Sold  Dr, $75,000

                To Inventory A/c  $75,000

                To Sales  $146,998.94

(Being lease receivable is recorded)

Here we debited the lease receivables and cost of goods sold as it increased the assets and expenses  and we credited the inventory and sales as  it reduced the assets and increased the revenues

b. Cash A/c Dr, $26,143

                To Lease receivable A/c $26,143

(Being the first payment of lease is recorded)

For recording this we debited the cash as it increased the sales and credited the lease receivables as it decreased the assets

c. Interest Receivable A/c Dr, $9,668.432   {($146,998.4 - $26,143) × 8%}

              To Interest Income A/c $9,668.432

(Being accrued interest is recorded)

For recording this we debited the cash as it increased the sales and credited the interest income and it increased the revenue

The purpose for holding money in economic in classified into:

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The correct answer is OD. Salaries and Wages Payable: $26,690 credit; Cash: $26,690 debit.

When recording the payment of salaries and wages, the journal entry will involve debiting (increasing) the Cash account and crediting (decreasing) the Salaries and Wages Payable account.

In this case, the total current period earnings of $35,600 represents the amount owed to employees for their wages, which is a liability. Since the payment is being made, the Salaries and Wages Payable account will be credited for the same amount, $35,600. On the other hand, the Cash account will be debited for the amount actually paid, which is $8,910 (representing the net payment after withholdings and deductions).

Therefore, the correct journal entry would be:

Salaries and Wages Payable: $26,690 credit

Cash: $26,690 debit

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Answer:

Culver Corp.

Balance Sheet as of December 31, 2021 (Partial)

Current liabilities:

Bond Interest payable $18,720

Long-term liabilities:

8% Bonds Payable $936,000

Explanation:

a) Data and Calculations:

8% Bonds Payable = $936,000

Maturity period of bonds = 10 years

Annual interest payable = $74,880 ($936,000 * 8%)

Interest payable for 2021 = $18,720 ($74,880 * 3/12)

b) This shows that interest payable for 2021 is a current liability, which will be offset within a year, while the Bonds payable is a long-term liability with a maturity period of 10 years.

A product blend is a mixture of all of the records a manufacturer makes use of to promote its product to the public. False.

The required details for product mix in given paragraph

A product blend, additionally known as a product assortment, represents the sum overall of merchandise that a business enterprise sells. This includes new merchandise, current merchandise, and versions of merchandise (like smaller sizes for kids). Each of those sorts of merchandise counts in the direction of the business enterprise’s whole product blend. A business enterprise’s product blend influences its distribution channels: the extra sorts of merchandise a business enterprise offers, the extra its distribution needs.

A huge product blend additionally affects a business enterprise’s advertising blend: the business enterprise might also additionally want a bigger array of advertising channels to proportion its myriad product services with disparate patron bases.

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Answer:

c; depreciation

Explanation:

it was marked as correct on Edmentum

Answer:

c) depreciation

Explanation:

Explanation:

If Dale teaches Terrence's daughter to play the guitar in exchange for Terrence tiling Dale's kitchen floor Option B.  both Dale and Terrence are made better off by trade.

In this scenario, Dale is a guitar teacher and Terrence is a tile layer. Dale teaches Terrence's daughter how to play the guitar in return for Terrence tiling Dale's kitchen floor. It is a classic example of trade and bartering. Dale, the guitar teacher, would have had to pay for tile installation if he hadn't bartered with Terrence, the tile layer. Terrence, on the other hand, would have had to pay for guitar lessons if he hadn't traded with Dale.

Both Dale and Terrence, therefore, benefit from the trade, and they are both better off as a result. Because Dale receives tile installation in exchange for teaching guitar lessons, and Terrence receives guitar lessons in exchange for tile installation, both benefit.

In conclusion, the answer is (b) both Dale and Terrence are made better off by trade. When both parties are better off after a trade, it is known as a mutually beneficial trade. Trade, in general, promotes mutual gains by allowing people to concentrate on what they do best and exchange their output with others for goods and services that they desire. Therefore, the correct option is B.

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do you have any clue some story do that question has a story sorry for the disturb but this is compusing

If the nation should have to reduce their imports by 20 percent in order to curtail trade deficits it would have an effect on the nations that depend on the imports they get from the United States into their own countries.

This is the term that is used to refer to the amount by which the value exports that are done by a nation would be less  than its cost of imports.

This means that the nations would have to trade with other nations that are going to buy the goods that they have. They may have to start to depend on borrowing from other nations.

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Power Structural and Technical Systems employees typically perform duties such as designing, installing, maintaining, and repairing power systems and equipment.

This typically includes electrical, mechanical, and computer systems. Examples of Power Structural and Technical Systems careers include:

• Electrical Engineer

• Mechanical Engineer

• Electrical Technician

• Mechanical Technician

• Power Plant Operator

• Power Plant Maintenance Technician

• Power Plant Electrician

• Power Generation Engineer

• Power Distribution Engineer

• Solar System Designer

• Wind Turbine Technician

• Industrial Electrician

• Automation Engineer

• Telecommunications Engineer

• Network Engineer

• Automation Technician

• Robotics Technician

• Control System Technician

• Systems Analyst

• Network Technician

• Computer Technician

• Electronics Technician

• HVAC Technician.

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The financial statement for the year ended December 31, 2022 is Net Cash Provided by Operating Activities R (150,000), Net Cash Used in Investing Activities (1,600,000) and Net Cash Used in Financing Activities (250,000).

To prepare the cash flow statement for Megazone Limited for the year ended December 31, 2022, we need to analyze the information provided and categorize the cash flows into three main sections: operating activities, investing activities, and financing activities. Here's the breakdown:

Operating Activities:

Investing Activities:

Financing Activities:

Net Increase/(Decrease) in Cash (2,000,000)

Cash at the Beginning of the Year 350,000

Cash at the End of the Year R (1,650,000)

The cash flow statement shows that Megazone Limited had a net decrease in cash of R2,000,000 during the year. The operating activities resulted in a net cash outflow of R150,000, primarily due to payments to trade creditors, interest expense, and income tax.

The investing activities resulted in a net cash outflow of R1,600,000, mainly due to the purchase of plant and equipment and a long-term investment.

The financing activities resulted in a net cash outflow of R250,000, mainly due to dividends paid to shareholders.

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The standard deviation is 0.4182 and the coefficient of variation is 10.5%.

Given the following data Interval Frequency 3.00-3.25 64.00-4.25 473.25-3.50 194.25-4.50 293.50-3.75 354.50-4.75 153.75-4.00 445.00-4.75 5 The formula for finding the standard deviation is:\($$ \sigma =\sqrt{ \frac{\sum f(x-\overline{x})^2}{N}} $$\)

The table below shows the calculation; Interval \($X$ Midpoint ($X_i$)\) Frequency \(($f$) $x-\bar{x}$ $f(x-\bar{x})$ $(x-\bar{x})^2$ $f(x-\bar{x})^2\)

$3.00-3.25 3.125 6 -0.725 -4.35 0.525625 3.153.25-3.50 3.375 19 -0.475 -9.025 0.225625 4.279.50-3.75 3.625 35 -0.225 -7.875 0.050625 1.773.75-4.00 3.875 44 0.025 1.1 0.000625 0.274.00-4.25 4.125 47 0.275 12.925 0.075625 3.554.25-4.50 4.375 29 0.525 15.225 0.275625 7.994.50-4.75 4.625 15 0.775 11.625 0.600625 9.01.75-4.00 4.875 5 1.025 5.125 1.050625 5.25 \($\sum f=200$  $\sum f(x-\bar{x})= 3.15$  $\sum f(x-\bar{x})^2= 35.01$\)

The variance is: \($ \sigma^2 =\frac{\sum f(x-\overline{x})^2}{N} $$\sigma^2=\frac{35.01}{200}=0.1751$\)

Therefore, the standard deviation is: \($$ \sigma=\sqrt{ \sigma^2} $$$ \sigma=\sqrt{ 0.1751}=0.4182$\)

The formula for finding the coefficient of variation is:$$ C.V = \(\frac{\sigma}{\overline{x}} \times 100\% $$\)

The coefficient of variation is:$$ C.V = \(\frac{0.4182}{3.985} \times 100\% $$$C.V = 10.5\%$\)

Therefore, the standard deviation is 0.4182 and the coefficient of variation is 10.5%.

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The character of the distribution for Shareholder B if both shareholders elect to receive cash is a return of capital to the shareholders (capital dividend).

A capital dividend is a payment that is drawn from a company's paid-in-capital or shareholders' equity instead of from earnings.

When capital is returned to shareholders, their investment bases in the stock reduce, thereby, increasing their capital gains and the subsequent taxes.

Thus, the character of the distribution for Shareholder B if both shareholders elect to receive cash is a return of capital to the shareholders (capital dividend).

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Answer:

In order to keep the audiences attention, students were advised to avoid digressive discussion, and to speak only about subjects tangential to their report.

Marketability, one of the following is not a characteristic generally evaluated in analyzing financial statements. Thus, option (c) is correct.

Comparisons of financial data made within a company are called  intracompany comparisons. Thus, option (a) is correct.

The term company refers to the legal entities that are legally registered in accordance with the Company Act. Company is the main goal to earn higher profit, and they maintain the goodwill.

According to the financial statements, are the created with the help of the marketability of the product. There was the financial data are the company to the entry are the intracompany comparisons.

Therefore, option (c) and 2. (a) is correct.

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Road transportation has various benefits, including lower costs, shorter travel times, more adaptable load capacities, improved fuel economy, and environmental friendliness. On the other side, there are drawbacks as well, like traffic jams and safety worries.

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The total gross margin for the month under absorption costing is $16,120.

Total variable cost per unit:

Total variable cost per unit:

= Direct materials cost per unit + Direct labor cost per unit + Variable manufacturing overhead per unit + Variable selling and administrative expenses per unit

= $44 + $19 + $13 + $12

= $88

Total fixed costs:

Total fixed costs:

Fixed manufacturing overhead + Fixed selling and administrative expenses

= $85,260 + $16,440

= $101,700

Total gross margin:

= (Selling price per unit - Total variable cost per unit) * Units sold - Total fixed costs

= ($131 - $88) * 2,740 - $101,700

= $43 * 2,740 - $101,700

= $117,820 - $101,700

= $16,120.

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Answer:

combining shopmente6of prod6

Answer:A. Combining shipments of products

Explanation: Just had this and got it right

Answer:

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Explanation:

Answer:

hold up what did you just say

Explanation:

Answer:

The correct answer is the cruise line sector.

Explanation:

However, the average age of cruise passengers in North America, as well as their income, has been dropping since the early 1970’s.

the drop-down menus to identify the components of your essay: Format: Informative Essay, Topic: Globalization and Pollution, Purpose: To Educate.

Globalization has brought significant economic and social benefits, but it has also led to increased environmental pollution. As economies around the world become more interconnected, businesses seek to maximize profits by cutting costs, which often involves and can lead to climate change, deforestation, and the loss of biodiversity. It is important to recognize the impact of globalization on the environment and take steps to mitigate its effects. This can include implementing stricter environmental regulations, promoting sustainable practices, and investing in clean energy technologies.By educating ourselves and others on the consequences of pollution and the role of globalization, we can work towards a more sustainable and environmentally friendly future

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Answer:

cost of the new office equipment would be recorded at $120,000

Explanation:

First of all let us lay out the relevant information:

Book value of old equipment = $56,000

Fair value of old equipment = $40,000

additional exchange fee = $80,000

Cost of new equipment = Fair value + additional exchange fee

= 40,000 + 80,000 = $120,000

If all of restaurants of state reopened after being closed for six months then the state economy is most likely to increase considerably. Thus, the correct option is C). It would increase considerably.

The lockdown would have a great impact on the state economy in different ways. The situation of job lost arise in industries that pay low average wages during the lockdown according to Labor Department employment data.

Capital of a country is exploited and destroyed to the extent that resulted into the decline of the state economy. It could be found that lockdown could result in a direct initial reduction of 20-25% of GDP.

During the recession period due to the lockdown, the government will increase spending, reduce taxes, or do both to expand the economy. Thus, after the lockdown, the state economy would increase considerably.

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The two parts of every problem can be identified from the given list as option A: Problems have goals and barriers.

The correct answer is option a.

A problem arises when there is a specific goal or objective that needs to be achieved, but there are obstacles or barriers in the way that prevent easy progress towards that goal. The goal is the desired outcome or the result that one aims to achieve, while the barrier represents the challenges or difficulties that need to be overcome in order to reach the goal.

In order to effectively address and solve a problem, it is important to first identify the goals and the barriers. By doing so, we can focus on finding strategies and solutions that help to overcome the barriers and eventually achieve the goal. Understanding the two parts of a problem not only provides clarity on the issue at hand, but it also allows for a more systematic approach to problem-solving, increasing the chances of successfully reaching the desired outcome.

Therefore, the correct answer is option a.

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Answer:

A. $3,520

B. $13,520

C. $240 monthly

D. 21.55%

Explanation:

A. Calculation for the total interest

Using this formula

Interest = (Principal) (Rate) (Time)

Let plug in the formula

Interest = (8000)(.11)(4)

Interest = $3,520

B. Calculation for the total cost of the car

Using this formula

Total Cost = Down Payment + Principal amount Borrowed + Interest amount

Let plug in the formula

Total Cost = $2,000 + $8,000 + $3,520

Total Cost = $13,520

C. Calculation for the monthly payment

Using this formula

Monthly Payment = (Principal amount Borrowed + Total interest amount ) / Total number of payments

Monthly Payment = ($8,000 + $3,520) / 48

Monthly Payment=$11,520/48

Monthly Payment=$240 monthly

Note 4-year * 12 months will give us 48months

D. Calculation for the annual percentage rate (APR) using this formula

APR= (2 × n × I) / [P × (N + 1)]

Let plug in the formula

APR = (2 × 12 × $3,520) / [$8,000 × (48+1)]

APR =$84,480/$8,000×49

APR=$84,480/$392,000

APR=0.2155×100

APR= 21.55%

Answer:

a) Trial Balance as at 31st December, 2014:

Account Debit Credit

Purchases 74,400.00

Sales  141,600.00

Return inwards 4,900.00

Sundry expenses 370.00

Freight charges 6,240.00

Motor vehicle expenses 7,250.00

Rent and rates 5,720.00

Wages 19,600.00

Bank Loan interest 300.00

Bank Loan 6,000.00

Accounts receivable 15,000.00

Accounts payable  6,050.00

Inventory as at 01/01/14 8,540.00

Equipment 5,800.00

Motor Vehicle 26,400.00

Drawings 12,000.00

Capital 35,700.00

Cash at Bank 2,830.00

Total 224,350.00 224,350.00

b) Statement of Comprehensive Income for the year ended 31st December, 2014:

Particulars Amount ($)

Sales 141,600.00

Less: Return inwards (4,900.00)

Net Sales 136,700.00

Cost of Sales 74,400.00

Gross Profit 62,300.00

Less: Sundry expenses (370.00)

Less: Freight charges (6,240.00)

Less: Motor vehicle expenses (7,250.00)

Less: Rent and rates (5,720.00)

Less: Wages (19,600.00)

Operating Profit 23,120.00

Less: Bank Loan Interest (300.00)

Net Profit 22,820.00

Statement of Financial Position as at 31st December, 2014:

Particulars Amount ($)

Current Assets

Inventory 10,750.00

Accounts receivable 15,000.00

Prepaid Rent 900.00

Cash at Bank 2,830.00

Total Current Assets 29,480.00

Non-Current Assets

Equipment 5,800.00

Motor Vehicle 21,120.00

Less: Accumulated Depreciation (5,280.00)

Net Non-Current Assets 21,640.00

Total Assets 51,120.00

Current Liabilities

Accounts payable 6,050.00

Bank Loan 6,000.00

Total Current Liabilities 12,050.00

Net Assets 39,070.00

Equity

Capital 35,700.00

Add: Net Profit for the Year 22,820.00

Total Equity 58,520.00

Total Liabilities and Equity 51,120.00

Explanation: