Bruce Bonner began a web-based computer sales and service compary on March 1 . 20×8 called Bonner's Toys. Bruce has decided to record all prepayments to assets, and all uneamed revenues to liabilities. The company will use a periodic imventory Fisystem. Bonner Toy's completed the follow transactions for March 20×8 March 1 Bruce invested $11,000 cash along with $9,000 of computer equipment into his new business. The equipment is estimated to have a usoful life of 2 years and havo no residual value after that time. March 1 Purchased 10 months of insurance for $1,000 cash, the insurance is effective immediately. March 3 Purchased $9.000 of merchandise imventory from Funnors, terms 1/10, n 20 . March 5 Recoivod March 3 purchase and paid cash of $200 for shipping March 7 Sold merchandise to John Smath that cost $3,300 for $4,000, John paid March 8 Paid freight of $275 to ship goods to Jokn Smath March 9 Hired technsian with salary of $350 to paid every other wevik March 11 Bought $200 of office supplies on account. March 19 Cheque # 100 for $100 was issued to pay for newspaper advertising Advertisement to appear April 2 in the local paper. March 19 Paid for merchandise purchased from Runners on March 3 March 22 Recewed $1,000 cash from a XYZ company for 5 months of advortising on Bonner's website. Contract for advertising to begin on April 1,20×8. March 23 Paid technician $650 in salary for first two weeks of work March 25 Bought office fumiture for $10,000 paying cash of $1,800 and signing a 1 yoar note at 6% for the balance. March 26 John Smith paid his account in full March 31 Bruco paid his personal property taxes with cash, amount $1,000 March 31 Received a bill from the utilites company for March utilities in the amount of $130. The amount is diee April 4. Required: Prepare general joumal entries to record the transactions Explanations are:
Answers
Here are the general journal entries to record the transactions for Bonner's Toys in March 20×8:
March 1:
Cash $11,000
Computer Equipment $9,000
Owner's Equity $20,000
(To record investment of cash and equipment)
March 1:
Prepaid Insurance $1,000
Cash $1,000
(To record the purchase of insurance)
March 3:
Merchandise Inventory $9,000
Accounts Payable $9,000
(To record the purchase of inventory on account)
March 5:
Merchandise Inventory $200
Cash $200
(To record cash payment for shipping)
March 7:
Accounts Receivable $4,000
Sales Revenue $4,000
Cost of Goods Sold $3,300
Merchandise Inventory $3,300
(To record the sale of merchandise to John Smith)
March 8:
Freight Expense $275
Cash $275
(To record payment for shipping goods to John Smith)
March 9:
Salaries Expense $350
Cash $350
(To record payment of technician's salary)
March 11:
Office Supplies Expense $200
Accounts Payable $200
(To record the purchase of office supplies on account)
March 19:
Advertising Expense $100
Cash $100
(To record payment for newspaper advertising)
March 19:
Accounts Payable $9,000
Cash $9,000
(To record payment for merchandise purchased from Funnors)
March 22:
Cash $1,000
Unearned Revenue $1,000
(To record cash received for advertising contract)
March 23:
Salaries Expense $650
Cash $650
(To record payment of technician's salary)
March 25:
Office Furniture $10,000
Notes Payable $8,200
Cash $1,800
(To record the purchase of office furniture)
March 26:
Accounts Receivable $4,000
Cash $4,000
(To record payment received from John Smith)
March 31:
Property Tax Expense $1,000
Cash $1,000
(To record payment of personal property taxes)
March 31:
Utilities Expense $130
Accounts Payable $130
(To record the utility bill for March)
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Related Questions
Explain why the credit industry wants you to believe that you need a credit score
Answers
Answer:
Because the credit industry gains a profit from it's users. Credit is a tool, and if used wisely can be beneficial for many people who don't have enough cash to pay for things. Having "good" credit score means that it's easier for you to receive a loan.
Let understand that Credit score refers the score which tells about a consumer's creditworthiness.
In practice, the higher the credit score of an individual, the higher the rate of repayment of credit gotten.
The Credit scoring is used the lenders to help them decide whether to borrow, extend or deny credit.
Therefore, the credit industry wants one to believe you need credit score because its helps them to ascertain your creditworthiness.
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d.
What is the difference between Sources of Information and
'Methods of Getting Information' in foreign employment?
Answers
The difference between Sources of Information and 'Methods of Getting Information' in foreign employment is network technology.
The network technology involves the use of data systems to manage and deliver digital resources over a computer network.
The sources of information in foreign employment as notice board, newspaper, electronic media ( radio, FM, television) with some online websites.
The Methods of Getting Information' are basically offline tools like notice board, public programs etc.
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If the price of gloves increases, total expenditures on gloves will decline if
A) the demand for gloves is inelastic.
B) the demand for gloves is elastic.
C) the quantity of gloves purchased is unresponsive to changes in price.
D) there are few good substitutes for gloves.
Answers
If the price of gloves increases, total expenditures on gloves will decline if the demand for gloves is elastic. Elastic demand means that a small change in price will lead to a significant change in the quantity demanded. The correct option is B).
In other words, when the price of gloves increases, consumers will react by reducing the quantity of gloves they buy, resulting in a decline in total expenditures on gloves.
On the other hand, if the demand for gloves is inelastic, a price increase will result in a smaller reduction in the quantity demanded, and total expenditures on gloves may actually increase.
For example, if gloves are necessary for medical procedures, a price increase may not significantly affect the quantity demanded as there are no good substitutes for gloves.
In this case, consumers may continue to purchase gloves at the higher price, resulting in higher total expenditures on gloves.
However, if there are few good substitutes for gloves and the quantity of gloves purchased is unresponsive to changes in price, the total expenditures on gloves may not necessarily decline.
In this case, a price increase may not result in a significant change in the quantity demanded, and consumers may continue to purchase gloves at the higher price, resulting in higher total expenditures on gloves.
In summary, the elasticity of demand for gloves is a critical factor that determines whether a price increase will lead to a decline in total expenditures on gloves. Therefore, the correct option is B).
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Rising interest rates have made borrowing more costly to consumers. As a result
of the most recent increase in interest rates, borrowing and consumption have
fallen throughout the economy, triggering a contractionary period. Growing
uneasy, citizens have been asking Congress to make an official statement as to
how long this contractionary period is expected to last. Which of the following is
an appropriate response?
Answers
Answer:
it depends on the measures taken to ensure that economy is stable.
Answer:
1. it is difficult to say since contractionary periods have varying lengths in different business cycles.
2. shock
3. high unemployment
4. two
5. expansion stage of the business cycle
Explanation:
just took it
briefly describe the term factor market
Answers
Answer:
is a term economists use for all of the resources that businesses use to purchase, rent, or hire what they need in order to produce goods or services.
Explanation:
a forecasting model has produced the follwoing forcases at the end of may the average error would be
Answers
At the end of May the average error in the forecasting model would be 3.
Forecasting models are one of the numerous tools businesses use to forecast issues regarding deals, force and demand, consumer geste and further. These models are especially salutary in the field of deals and marketing. Forecasting styles generally fall into three orders statistical models, machine knowledge models and expert forecasts, with the first two being automated and the ultimate being homemade .
Forecasting :Period Demand Forecast Error
January 120 110 10
February 110 115 - 5
March 115 120 -5
April 125 115 10
May 130 125 5
Total → 15
Average of error = sum of error ÷ number of months
15 ÷ 5
= 3
Average of error in May end = 3
Forecast error :
forecast error is the difference between the forecast demand and the factual demand. A lot of computations go into forecast error, but the nethermost line is that the lesser the difference between factual demand and forecast demand, the lesser the impact on a distributor's nethermost line.
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What is a personal value? Help
Answers
Answer:
A.
brainliest if correct please!!!!!!
Explanation:
Answer: A
Explanation:
Why does an enterprise need to listen to its customers
Answers
The ________ budget is comprised of funds for dedicated revenues that target money for specific purposes.
Answers
Answer: general revenue-dedicated funds budget
Explanation: The general revenue-dedicated funds budget is a type of budget (the amount of money earmarked for a particular institution, activity or time-frame) that is comprised of funds for dedicated revenues that target money for specific purposes. The fund is designated dedicated because by law is dedicated, appropriated or set aside for a limited object or purpose in the State Treasury, a separate account or fund in the General Fund in the State Treasury and does not include a trust or revolving fund.
Answer:
Lemme get straight to the point it's C
Explanation:
EDG2020
What are variables used by Honda to segment the market? Why do they use those variables to segment?
Answers
Answer and Explanation:
Honda market segmentation is based mainly on three market segmentation factors: demographics, behavioural factors, and psychographic factors. Demographic factors include: income/household income, age, family size etc. Behavioural factors include: purchasing behaviour, buying patterns etc. Psychographic factors include: psychological traits that affect a person's consumption habits, e.g- people that attach prestige to cars, people that prefer expensive cars etc.
Honda makes use of these segments in understanding their market, thereby grouping it's consumers into various segments which share same buying patterns, motivations, interests, or habits. For instance, Honda's market is mostly focused at individuals who do not want pricey cars; cars that are affordable and at the same time durable. This market is mostly made up of middle income individuals, therefore Honda would group these consumers accordingly.
List 10 resources that are scarce in the world today
Answers
-biodiversity and air,
-rare earth and metals,
-agriculture,
-waste disposal,
-processing power,
-youth,
-health and wellness,
-skills and education,
-time.
Which statement is true about ISO 9000?
A.
Only 10 products from an organization can be certified.
B.
Organizations can become certified.
C.
Employees can certify themselves.
D.
Marketing activities can be certified.
Answers
Answer: B- Organizations can become certified
Explanation: In the lesson it states:
"Here are certain facts about ISO 9000:
ISO 9000 is applicable to any business, regardless of its size or the industry in which it exists.
It includes definitions, requirements, and recommendations for continuous improvement.
ISO 9000 can also provide certifications to organizations.
Over 170 countries have used ISO 9000 certifications in their industries."
what are the advantages and disadvantages of common stocks
Answers
Advantages:
You can invest in companies with limited liability. Common stocks offer a higher earning potential. You can easily purchase common stock on virtually any trading platform. Common stocks can provide dividends. You’ll get to take advantage of a growing economy.Disadvantages:
You are the last person to get paid during a company liquidation. You don’t have much control over your investment. Companies are not required to pay dividends on common stocks. It can take time to generate significant gains. You will face high levels of professional competition when investing in common stocks.Hopes this helps :)
according to omi and winant, when is a racial project defined as racist?
Answers
According to Omi and Winant, a racial project is defined as racist when it creates or reinforces racial hierarchies, privileges one racial group over others, and perpetuates systemic discrimination based on race.
In their framework, a racial project becomes racist when it reinforces or supports racial hierarchies, stereotypes, and power differentials. This can occur through various means, such as institutional policies and practices, cultural representations and narratives, economic structures, and everyday interactions. Racist racial projects often aim to advantage certain racial groups while disadvantaging others, leading to systemic racism and the reproduction of racial inequality.
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The young men below are in colloquial language, “getting their hustle on!” Explain how their business is a sole proprietorship. Secondly, explain why the government will have a difficult time taxing this type of business.
Answers
These businesses are typically not registered with the government, and they do not have an official structure.
The government may be unwilling or unable to regulate these types of businesses because they are frequently viewed as necessary for economic growth and development.
In colloquial language, the young men below are "getting their hustle on." A sole proprietorship is a type of business that is owned and operated by a single individual. The young men's business can be referred to as a sole proprietorship since they are the sole owners of the business.
They are the ones who started the business, are responsible for all of its operations, and are accountable for all of the profits or losses.The government will have a tough time taxing this type of business for a variety of reasons.
Firstly, these businesses are typically not registered with the government, and they do not have an official structure. As a result, it's difficult for the government to track their activities and evaluate their taxes.
Secondly, many of these businesses operate in the informal sector, and they do not have formal accounting procedures or systems in place. As a result, it's difficult for the government to determine their exact revenue and taxable income.
Thirdly, these businesses are frequently involved in cash transactions, and it's difficult for the government to monitor their cash flow and revenue. As a result, they may not accurately report their earnings or pay the required taxes.
Finally, the government may be unwilling or unable to regulate these types of businesses because they are frequently viewed as necessary for economic growth and development. As a result, they may not be heavily taxed, if at all, since the government may be hesitant to discourage their operations.
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automatic stabilizers can do which of the following? automatic stabilizers can do which of the following? aid the economy to move away from the full-employment output level allow policymakers to formulate a set of rules flexible and comprehensive enough to eliminate discretionary actions cause tax revenue to decrease when gross domestic product (gdp) decreases and to increase when gdp increases allow policymakers to prescribe public works programs during inflationary periods because expenditures for unemployment and welfare have correspondingly decreased offset the destabilizing influence of changes in tax revenue
Answers
Automatic stabilizers can do the following: offset the destabilizing influence of changes in tax revenue and aid the economy to move away from the full-employment output level. Additionally, automatic stabilizers can cause tax revenue to decrease when gross domestic product (GDP) decreases and increase when GDP increases.
What are automatic stabilizers?Automatic stabilizers refer to a fiscal policy tool that is primarily used by governments to stabilize economic fluctuations. It is an automatic fiscal policy that takes effect as the economic cycle moves up or down, without the need for a political decision. It is also a budgetary instrument that is designed to counterbalance changes in the economy in the absence of any direct action by policymakers. There are two types of automatic stabilizers which are tax policy and spending programs.What is the importance of automatic stabilizers?The importance of automatic stabilizers is that they can stabilize the economy without discretionary fiscal policy actions. The role of automatic stabilizers is that they can reduce the severity of economic downturns and promote economic growth, while at the same time minimizing the negative effects of business cycles. They can help in achieving full employment in the economy and promote income stability.In conclusion, automatic stabilizers can do the following: aid the economy to move away from the full-employment output level, allow policymakers to prescribe public works programs during inflationary periods, offset the destabilizing influence of changes in tax revenue, and cause tax revenue to decrease when GDP decreases and to increase when GDP increases.
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A company in Maine sends lobsters to France What is Maine doing? Select three options
Answers
Answer:
Following are the answer to this question:
Explanation:
Some information is missing in the question. So, the correct choices can be described as follows:
i) practicing international trade
ii) exporting products
iii) participating in globalization
Maine has been globally traded because its, company transfers it's own goods at international frontiers when a client gives lobster with France in Maine. It exports products as its goods are manufactured in one nation, in this scenario the USA, is one other country, France in this case.Finally, it participates in the process of globalization because the company operates internationally by selling its products.Answer:
B. practicing international trade
C. exporting products
D. participating in globalization
A increase in Prepaid Expenses indicates that ______ was expensed than paid during the period. Thus the increase will be ______ net income on the statement of cash flows prepared using the indirect method.
Answers
An increase in prepaid expenses indicates that more expenses were recognized than cash was paid during the period. This means that the increase in prepaid expenses will decrease net income on the statement of cash flows prepared using the indirect method.
Prepaid expenses represent an advance payment for goods or services that will be used or consumed in the future. When a business makes an advance payment for a service or product, it recognizes the expense upfront, but the payment is not immediately reflected in cash flows. As a result, the increase in prepaid expenses means that more expenses were recognized in the income statement, reducing net income. When using the indirect method, the increase in prepaid expenses will be added back to net income to arrive at the cash flow from operating activities.
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taylor what happened
Answers
Answer:
whos taylor?
Explanation:
i dont know anyone named taylor so...
Answer:
do fish get thristy? this is a assignment for health
How do you do this ?
Answers
what does it mean when the feds lower interest rates
Answers
Interest rates are lowered by the Fed in order to boost economic development. Reduced finance costs might entice people to borrow and invest. When interest rates are excessively low, however, they might stimulate excessive growth and perhaps inflation. On the other hand, if growth becomes excessive, the Fed will boost interest rates.
the budget for a project on voting trends includes ​$ for hiring undergraduate​ students, graduate​ students, and faculty members to conduct interviews on the day before an election. each undergraduate student will conduct interviews for​ $100. each graduate student will conduct interviews for​ $150. each faculty member will conduct interviews for​ $200. no more than interviewers can be hired. how many of each type of interviewer should be hired in order to maximize the number of​ interviews? what is the maximum number of​ interviews?
Answers
To maximize the number of interviews in the given budget, hire 0 undergraduate students, 0 graduate students, and all faculty members available.
The maximum number of interviews will depend on the total budget available. Since the goal is to maximize the number of interviews, we should prioritize hiring faculty members who conduct interviews for $200 each. Undergraduates and graduate students conduct interviews for lower fees, so it's more cost-effective to hire only faculty members. By allocating the entire budget towards faculty members, we can conduct the maximum number of interviews possible within the given budget. hire 0 undergraduate students, 0 graduate students, and all faculty members available.
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A stock currently sells for $25 per share and pays $0.24 per year in dividends. What is an investor's valuation of this stock if she expects it to be selling for $30 in one year and requires a 15 percent return on equity investments? Working out
Answers
Answer:
$26.30
Explanation:
Calculation to determine the investor's valuation of this stock
Using this formula
Investor's valuation of the stock = [Dividend / (1 + rate)] + [Selling price / (1 + rate)]
Let plug in the formula
Investor's valuation of the stock = [$0.24 / (1 + 0.15)] + [$30 / (1 + 0.15)]
Investor's valuation of the stock = $0.21 + $26.09
Investor's valuation of the stock = $26.30
Therefore the investor's valuation of this stock will be $26.30
Consider Australian football, cricket, and field hockey. Of the three, list which of those sports you find the most interesting, why it interests you, and a few rules of the game.
Answers
Answer:
Basic Rules Of Cricket
Cricket is played between two teams each made up of eleven players. ...
Games comprise of at least one innings where each team will take turns in batting and fielding/bowling.
The fielding team will have a bowler bowl the ball to the batsman who tries to hit the ball with their bat.
Explanation:
hope this helps
Sample Response: Students should select one of the listed sports and be able to describe some unique features of the sport highlighted in the test. Their interest in the sport can be pretty much anything including their relative obscurity in the US mainstream, past experience playing with family, or because they seem uniquely challenging.
Pompeii, Inc., has sales of $53,000, costs of $24,200, depreciation expense of $2,550, and interest expense of $2,300. If the tax rate is 24 percent, what is the operating cash flow, or OCF
Answers
Answer:
$23,052
Explanation:
The computation of operating cash flow is shown below:-
Before that we have to determine the net income which is
Income statement
Sales $53,000
Cost ($24,200)
Depreciation ($2,550)
EBIT $26,250
Interest expense ($2,300)
Earnings before tax $23,950
Tax (5,748)
(24% × $23,950)
Net income $18,202
Now,
Operating cash flow = EBIT + Depreciation - Tax
= $26,250 + 2,550 - $5,748
= $23,052
if you are required to read the u.s. constitution for a history or political science class, you'll need to
Answers
Still, you will need to do a lot of reading to research the content, If you have to read the US Constitution in a history or political wisdom class.
still, you'll need to read a lot to come familiar with the subject, the authors, If Familiarity with the United States Constitution for a history or political wisdom course.
A constitution is a set of abecedarian principles or established precedents that form the legal base of a system, association, or other type of reality and generally determine how that reality is governed.
The Constitution defines the abecedarian law of the civil government of the United States by relating the three main branches of the civil government and determining their governance.
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The US Supreme Court did what in Piscataway Board of Education v. Taxman, 521 U.S. 1117, 117 S.Ct. 2506 (1997)?
Answers
Answer:
The case was never heard in the United States Supreme Court.
Explanation:
The board of education of Piscataway High School, New Jersey desired to remove one teaching position from the Business Education department. A hindrance to this was the fact that the two teachers being considered had indefinite appointments, and were equal in seniority. According to the state law, tenured teachers can be relieved of their duties in reverse order of seniority. Either Sharon Taxman, a white teacher, or Debra Williams an African-American teacher were to be relieved of their positions.
Taxman was chosen because African-Americans were a minority. Taxman contested this in the court. The case was never heard at the U.S Supreme court because some civil rights group wanted the case to be settled out of court. The United States Court of Appeal ruled in favor of Taxman.
High school students may include coursework in the education section of a résumé if it is relevant to the job opening. True or False
Answers
Answer:
the answer is true
Explanation:
Answer:
True
Explanation:
Assume the Capital Asset Pricing Model (CAPM) holds. The expected annual return of stock A is 6%. The annual risk-free rate was 5% and the expected annual return of the market was 7%. If the standard deviation of annual return of stock A was 15% and the standard deviation of annual return of the market was 10%, what is the correlation between annual returns of stock A and the market?
A. 0.5
B. 0.33 C. 0.66 D. −0.66 E. 1
Answers
The answer is option B . To find the correlation between the annual returns of stock A and the market, we will first calculate the beta of stock A using the Capital Asset Pricing Model (CAPM). The CAPM equation is:
Expected return of stock A = Risk-free rate + Beta * (Expected return of the market - Risk-free rate)
Given:
Expected return of stock A = 6%
Risk-free rate = 5%
Expected return of the market = 7%
We can now solve for Beta:
6% = 5% + Beta * (7% - 5%)
1% = Beta * 2%
Beta = 0.5
Next, we need to find the correlation between stock A and the market. The formula for Beta is:
Beta = (Correlation * Standard deviation of stock A) / Standard deviation of the market
We can now solve for the correlation:
0.5 = (Correlation * 15%) / 10%
Rearrange the equation and solve for Correlation:
Correlation = (0.5 * 10%) / 15%
Correlation = 0.33
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Frankilin Construction Company expects to bulid three new homes during a specific accounting period. The estimated direct materials and labor costs are as follows: Assume Franklin needs to allocate two major overhed costs $70,600 of employee fringe benefits and $29,190 of indirect materials costs) among the three jobs. Required Choose an appropriate cost driver for each of the overhead costs and determine the fotal cost of each house. Note: Round "Allocation tate" to 2 decimal places.
Answers
The total cost of House 1 is $19,952, the total cost of House 2 is $29,928, and the total cost of House 3 is $49,880.
To allocate the overhead costs of employee fringe benefits and indirect materials costs among the three jobs, Franklin Construction Company needs to choose appropriate cost drivers for each overhead cost. A cost driver is a factor that causes or influences the incurrence of costs.
For the $70,600 of employee fringe benefits, an appropriate cost driver could be direct labor hours. This means that the total number of direct labor hours worked on each house will be used to allocate the employee fringe benefits. To calculate the allocation rate, we divide the total fringe benefits cost by the total direct labor hours for all three houses. Let's assume the total direct labor hours for all three houses is 2,000 hours. Therefore, the allocation rate for employee fringe benefits is $70,600 / 2,000 hours = $35.30 per direct labor hour.
For the $29,190 of indirect materials costs, an appropriate cost driver could be the square footage of each house. This means that the square footage of each house will be used to allocate the indirect materials costs. To calculate the allocation rate, we divide the total indirect materials costs by the total square footage for all three houses. Let's assume the total square footage for all three houses is 6,000 square feet. Therefore, the allocation rate for indirect materials costs is $29,190 / 6,000 square feet = $4.86 per square foot.
To determine the total cost of each house, we need to multiply the allocation rates by the relevant cost drivers for each house. Let's assume House 1 has 400 direct labor hours and 1,200 square feet, House 2 has 600 direct labor hours and 1,800 square feet, and House 3 has 1,000 direct labor hours and 3,000 square feet.
For House 1:
- Total employee fringe benefits cost: 400 hours * $35.30 per hour = $14,120
- Total indirect materials costs: 1,200 square feet * $4.86 per square foot = $5,832
- Total cost of House 1: $14,120 + $5,832 = $19,952
For House 2:
- Total employee fringe benefits cost: 600 hours * $35.30 per hour = $21,180
- Total indirect materials costs: 1,800 square feet * $4.86 per square foot = $8,748
- Total cost of House 2: $21,180 + $8,748 = $29,928
For House 3:
- Total employee fringe benefits cost: 1,000 hours * $35.30 per hour = $35,300
- Total indirect materials costs: 3,000 square feet * $4.86 per square foot = $14,580
- Total cost of House 3: $35,300 + $14,580 = $49,880
Therefore, the total cost of House 1 is $19,952, the total cost of House 2 is $29,928, and the total cost of House 3 is $49,880.
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