Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March, the partners plan to expand by opening a retail sales shop. They have decided to form the business as a corporation called Traveling Gourmet, Inc. The following transactions occurred in March:



Received $80,000 cash from each of the two shareholders to form the corporation, in addition to $2,000 in accounts receivable, $5,300 in equipment, a van (equipment) appraised at a fair value of $13,000, and $1,200 in supplies. Gave the two owners each 500 shares of common stock with a par value of $1 per share.
Purchased a vacant store for sale in a good location for $360,000, making a $72,000 cash down payment and signing a 10-year mortgage note from a local bank for the rest.
Borrowed $50,000 from the local bank on a 10 percent, one-year note.
Purchased food and paper supplies costing 10,200 in March; paid cash.
Catered four parties in March for $4,200; $1,600 was billed and the rest was received in cash.
Sold food at the retail store for $16,900 cash; the food and paper supplies used cost $10,830. (Hint: Record the revenue effect separate from the expense effect.)
Received a $420 telephone bill for March to be paid in April.
Paid $363 in gas for the van in March.
Paid $6,280 in wages to employees who worked in March.
Paid a $300 dividend from the corporation to each owner.
Purchased $50,000 of equipment (refrigerated display cases, cabinets, tables, and chairs) and renovated and decorated the new store for $20,000 (added to the cost of the building); paid cash.



Required:

2. Record in the T-accounts the effects of each transaction for Traveling Gourmet, Inc., in March.

Answers

Answer 1

Recording the effects of each transaction in the T-accounts for Traveling Gourmet, Inc. in March will appear as follows:

T-accounts:

Cash

Account Titles                    Debit       Credit

Common Stock and

Additional Paid-in Capital $160,000

Building                                              $72,000

Bank Payable                       50,000

Supplies                                               10,200

Revenue Earned                    2,600

Revenue Earned                  16,900

Cost of Supplies                                10,830

Vehicle Expense                                    363

Wages Expense                                 6,280

Dividend                                                600

Equipment                                       50,000

Building                                           20,000

Accounts Receivable

Account Titles                    Debit       Credit

Common Stock and

Additional Paid-in Capital $2,000

Service Revenue                 1,600

Supplies

Account Titles                    Debit       Credit

Common Stock and

Additional Paid-in Capital $1,200

Cash                                  10,200

Equipment

Account Titles                    Debit       Credit

Common Stock and

Additional Paid-in Capital $13,000

Cash                                   50,000

Building

Account Titles                    Debit       Credit

Cash                                $72,000

Mortgage Payable          288,000

Cash                                 20,000

Mortgage Payable

Account Titles                    Debit       Credit

Building                                             $288,000

Bank Payable

Account Titles                    Debit       Credit

Cash                                                  $50,000

Telephone Expense Payable

Account Titles                    Debit       Credit

Telephone Expense                            $420

Common Stock and Additional Paid-in Capital

Account Titles                    Debit       Credit

Cash and other assets                    $176,200

Dividend

Account Titles                    Debit       Credit

Cash                                   $600

Revenue Earned

Account Titles                    Debit       Credit

Cash                                                   $2,600

Accounts Receivable                           1,600

Cash                                                  16,900

Cost of Supplies

Account Titles                    Debit       Credit

Cash                                 $10,830

Telephone Expense

Account Titles                    Debit       Credit

Telephone Expense Payable $420

Vehicle Expense

Account Titles                    Debit       Credit

Cash                                    $363

Wages Expense

Account Titles                    Debit       Credit

Cash                                $6,280

Data Analysis:

a. Cash $160,000 Accounts receivable $2,000 Equipment $13,000 Supplies $1,200 Common Stock and Additional Paid-in Capital $176,200 for 1,000 shares of common stock at $1 per share.

b. Building $360,000 Cash $72,000 Mortgage Payable $288,000

c. Cash $50,000 Bank Payable $50,000 on a 10 percent, one-year note.

d. Supplies $10,200 Cash $10,200

e. Accounts Receivable $1,600 Cash $2,600 Revenue Earned $4,200  

f. Cash $16,900 Revenue Earned $16,900

Cost of Supplies $10,830 Cash $10,830

g. Telephone Expense $420 Telephone Expense Payable $420

h. Vehicle Expense $363  Cash $363

i. Wages Expense $6,280 Cash $6,280

j. Dividend $600 Cash $600

k. Equipment $50,000 Building $20,000 Cash $70,000

Thus, the March transactions are recorded in the T-accounts as above after journal analysis and recording.

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Related Questions

12+8x10.00000000000000000

Answers

Answer:

92

Step-by-step explanation:

10.00000000000000000 is the same as just 10

so through bodmas/bidmas you know thta the multiplication ha sto be done first so 8 x 10 =80

no add the first value.

12+80=92

You buy tomatoes sauce for 0.37per ounce. One portion of potatoes gnocchi requires 3.5 ounces of tomatoe sauce. How much does the sauce for one portion cost

Answers

Answer:

it would cost $0.74 = 74 cents

Step-by-step explanation:

The cost of one ounce of tomato = $0.37

1 portion of potato gnocchi requires 2 ounces of tomato sauce.

To find the cost of one portion of the potato gnocchi, we have to simply find the cost of 2 ounces of tomato sauce.

That is:

Cost = 2 * 0.37 = $0.74

Hence, one portion of potato gnocchi costs $0.74

Since $1 = 100 cents, the cost in cents will be:

0.74 * 100 = 74 cents

Select the correct answer from each drop-down menu.
Nirja has 24 marbles. The number of marbles Nirja has is 6 more than the number of marbles Tim has.
If Tim has x marbles, the equation that represents the situation is
The value of x that makes the equation true is
Reset
Next

Answers

Answer:

24 = x+6

x = 18

Step-by-step explanation:

N = 24

T = x

N = x+6  

24 = x+6

Subtract 6 from each side

24-6 = x+6-6

18 = x

Time has 6 marbles

Nirja has 6 more than Tim,

So you can subtract 6 from 24 to find x:

24-6 = x

Or you can add 6 to x to equal 24:

x + 6 = 24

You don't list the choices but it should be one of these.

Solve:

24 - 6 = x

x = 18

In a class of 32 students
The mean height of the 14 boys is 1.56 meters
The mean of all students is 1.515 meters

Work out the mean height for the girls

Answers

When the the mean height of the 14 boys is 1.56 meters and the mean of all students is 1.515 meters then the mean height for the girls will be 1.48.

How can the mean height for the girls be calculated?

From the question, we were given total number of students as  32

But the mean can be calculated as the ratio of all the sum of all the data to the total number of data,

the total height of all students= (32*1.56)=48.48

total height of 14 boys=(14*1.56)=26.64

number of girls is (32-14)=18

The mean height for the girls will be (26.64/1118)=1.48

Therefore, When the the mean height of the 14 boys is 1.56 meters and the mean of all students is 1.515 meters then the mean height for the girls will be 1.48.

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NOTE; This is a complete question , no given option , even on internet.

Show that the point (å,ä ) is on the perpendicular bisector of the line segment with end points
(Ů,ü ) and (ĝ,ġ )

Answers

To show that the point (å, ä) is on the perpendicular bisector of the line segment with endpoints (Ů, ü) and (ĝ, ġ), we need to demonstrate two things: that the point lies on the line segment, and that it is equidistant from the endpoints.

1. Determine the midpoint of the line segment:

  - The midpoint coordinates (\(x_{mid, y_{mid\)) can be found using the midpoint formula:

    \(x_{mid\) = (x1 + x2) / 2 and \(y_mid\) = (y1 + y2) / 2, where (x1, y1) and (x2, y2) are the coordinates of the endpoints.

    In this case, we have (x1, y1) = (Ů, ü) and (x2, y2) = (ĝ, ġ).

2. Calculate the midpoint coordinates:

  - Substitute the values into the midpoint formula to find (x_mid, y_mid).

3. Find the slope of the line segment:

  - Use the slope formula: slope = (y2 - y1) / (x2 - x1).

    Apply the formula to the endpoints (Ů, ü) and (ĝ, ġ) to determine the slope of the line segment.

4. Determine the negative reciprocal of the line segment's slope:

  - Take the negative reciprocal of the slope calculated in the previous step. The negative reciprocal of a slope m is -1/m.

5. Write the equation of the perpendicular bisector:

  - Using the negative reciprocal slope and the midpoint coordinates (\(x_{mid\), \(y_{mid\)), write the equation of the perpendicular bisector in point-slope form: y - \(y_{mid\) = \(m_{perp\) * (x - \(x_{mid\)), where \(m_{perp\) is the negative reciprocal slope.

6. Substitute the point (å, ä) into the equation:

  - Replace x and y in the equation of the perpendicular bisector with the coordinates of the point (å, ä). Simplify the equation.

7. Verify that the equation holds true:

  - If the equation is satisfied when substituting (å, ä), then the point lies on the perpendicular bisector.

By following these steps, you can demonstrate that the point (å, ä) lies on the perpendicular bisector of the line segment with endpoints (Ů, ü) and (ĝ, ġ).

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Arrange the steps in order to simplify the expression

Arrange the steps in order to simplify the expression

Answers

Answer:

Step-by-step explanation:

For step explanation:

1. write the problem

2. distinguishing the neg sign

3. distributing 3

4. moving like terms next to each other through commutative property

5.  Combining like terms

6. getting rid of parentheses

Arrange the steps in order to simplify the expression

The probability that Evelyn is on time for a given class is 40 percent. If there are 45 classes during the semester, what is the best estimate of the number of times out of 45 that Evelyn is on time to class? Round your answer to the nearest integer.

Answers

Answer:

18

Step-by-step explanation:

40/100 x 45 = 2/5 x 45 = 18

Answer: 18

Step-by-step explanation:

To find the number of times out of 45 Evelyn is on time for class, we need to find 40 percent of 45. 40 percent of 45 is equivalent to writing 0.4 x 45. Since 0.4 x 45 equals 18, we can estimate that Evelyn will be on time to class about 18 times out of 45

If 21% of a number is 27, find 7% of that number.

Answers

For the 21% of a number is 27, the value of 7% of that number is 7.

What is mean by Percentage?

A number or ratio that can be expressed as a fraction of 100 or a relative value indicating hundredth part of any quantity is called percentage.

We have to given that;

⇒ 21% of a number is 27

Let a number is = x

So, We can formulate;

⇒ 27% of x = 27

Solve for x as;

⇒ 27/100 × x = 27

⇒ 27x = 27 × 100

⇒ 27x = 2,700

⇒ x = 2,700 / 27

⇒ x = 100

So, 7% of 100 is,

⇒ 7% of 100

⇒ 7/100 × 100

⇒ 7

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The fraction of PKR 1 is 50 paisas

Answers

The fraction that represents the rate between PKR and Paisas is given as follows:

1/50.

What is a fraction?

A fraction is a numerical representation of the division of the two terms x and y, as follows:

Fraction = x/y.

As the rate is PKR 1 = 50 paisas, we have that the fraction that represents the rate between PKR and Paisas is given as follows:

1/50.

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24°
Solve for c.
= [?]°
C =
60% C
Enter

24Solve for c.= [?]C =60% CEnter

Answers

Answer:

  96°

Step-by-step explanation:

You want the value of angle C in the diagram with two parallel lines and a triangle between them.

Angle sum theorem

The sum of angles in a triangle is 180°, so the missing angle in the triangle is ...

  180° -60° -24° = 96°

Alternate interior angles

Angle C and the one we just found are alternate interior angles with respect to the parallel lines and the transversal that forms those angles. As such, they are congruent:

  C = 96°

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What is the area of the triangle below

What is the area of the triangle below

Answers

14

Step-by-step explanation:

Area of a triangle = 1/2 ×base ×height

= 1÷2 ×(7×4)

=1÷2 ×28

=14

4(w+1)=−6

w = ?
HURRY FAST!

Answers

Answer:

4w+4=-6

4w=-6-4

4w=-10

4w/4=-10/4

w=-2.5

Please help me this is hard

Please help me this is hard

Answers

Well, we can calculate the shaded area by calculating the larger rectangles area and subtracting the smaller rectangles area:
Shaded Area=11*14 -5*7= 154- 35=119 sqm

PLEASE TELL ME THE VALUE

PLEASE TELL ME THE VALUE

Answers

Answer:

Hello! answer: there are 7 quarters which are worth 25 cents each 6 dimes which are worth 10 cents each

there are 5 nickels which are worth 5 cents each and there are 8 pennies which are worth 1 cent each

the total value off all of these together is $2.68

In a major city is 7% find the total cost including the tax change on a purchase of $400 the total cost including sales tax is how much money

Answers

Answer:

$428, with the sales tax being $28.

Step-by-step explanation:

400 x 7/100 = 28

400+28=428

How to calculate volume of a rectangular prism

Answers

Calculating the volume of a rectangular prism is a simple process that involves multiplying the length, width, and height.

Calculating the volume of a rectangular prism is a straightforward process. A rectangular prism is a three-dimensional shape that has a length, width, and height. To find its volume, you simply multiply the length by the width by the height. The formula for calculating the volume of a rectangular prism is:
Volume = length x width x height
For example, if a rectangular prism has a length of 5 cm, a width of 4 cm, and a height of 3 cm, its volume would be:
Volume = 5 cm x 4 cm x 3 cm
Volume = 60 cubic centimeters (cm³)
It's important to ensure that all measurements are in the same unit before calculating the volume. For instance, if the length is in meters and the width and height are in centimeters, you would need to convert the length to centimeters to ensure that all measurements are in the same unit before calculating the volume.
In conclusion, calculating the volume of a rectangular prism is a simple process that involves multiplying the length, width, and height. This formula can be used for any rectangular prism regardless of its size or shape.

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write the equation of the circle graphed below

write the equation of the circle graphed below

Answers

Answer:

(x +2)^2 + (y +2)^2 = .5625

Step-by-step explanation:

(x - h)^2 + (y - k)^2 = r^2

(x + 2)^2 + (y + 2)^2 = .75^2

A line passes through the points (-4,8) and (3,-7). Answer all parts of the question. Part A: what is the slope of the line that passes through these points (-4,8) and (3,-7).

Answers

Answer:  \(y=\frac{-15}{7}x-\frac{4}{7}\)

Slope: -15/7

y-int:-4/7

Step-by-step explanation:

slope: rise/run

\(\frac{x^2-x^1}{y^2-y^1}\)

\(\frac{-7-8}{-4-3}=\frac{-15}{-7} =\frac{-15}{7}\)

thats the answer :)

~rere

y=3x +4
How do you graph this

Answers

Answer:

Step-by-step explanation:

you can use desmos to see the graph

but 4 is the y intercept, so that means you can start from the point (0, 4). then, to draw the rest of the line,  you would go up 3 and right 1 because the slope is 3 or 3/1

ethan buys vidio games for 39.99 sale on 20% how much ethan payed

Answers

The amount that Ethan pays for the video game is 47.988.

How to calculate the value?

From the information illustrated, it should be noted that it was stated that Ethan buys video games for 39.99 sale on 20% tax.

In this case, the amount that he will pay will be:

= Original amount + Tax

= 39.99 + (20% × 39.99)

= 39.99 + 7.998

= 47.988

The amount is 47.988.

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Complete question

Ethan buys vidio games for 39.99 sale on 20% tax how much ethan payed

please help please...

please help please...

Answers

The required coordinate of B' is B' = (4, -5), across the y-axis after reflection. Option A is correct.

What is the transformation of geometry over the coordinate plane?

Transform the shapes on a coordinate plane by rotating, reflecting, or translating them.

here,
Given that a point B (-4, -5) is reflected across the y-axis, the Coordinate of image B' is to be determined.

Since the coordinate is reflected across the y-axis,
The equation of trasformation is given as,
(x , y) ⇒ (-x , y)

So, the image of B,

B' = (-(-4), -5)

B' = (4, -5)

Thus, the required coordinate of B' is B' = (4, -5), across the y-axis after reflection. Option A is correct.

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A community college has a math placement exam that has a mean of 65 and a standard deviation of 8.2. If a student takes the exam and scores in the lower 2.5%, they are eligible for a free intensive course to help them succeed in their math class. Assume that the exam has a normal distribution. What is the score that cuts off the bottom 2.5%

Answers

Answer:

The score that cuts off the bottom 2.5% is 48.93.

Step-by-step explanation:

When the distribution is normal, we use the z-score formula.

In a set with mean \(\mu\) and standard deviation \(\sigma\), the zscore of a measure X is given by:

\(Z = \frac{X - \mu}{\sigma}\)

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.

In this question, we have that:

\(\mu = 65, \sigma = 8.2\)

What is the score that cuts off the bottom 2.5%

This is X when Z has a pvalue of 0.025, so X when Z = -1.96.

\(Z = \frac{X - \mu}{\sigma}\)

\(-1.96 = \frac{X - 65}{8.2}\)

\(X - 65 = -1.96*8.2\)

\(X = 48.93\)

The score that cuts off the bottom 2.5% is 48.93.

Which linear function represents a slope of ? A two column table with five rows. The first column, x, has the entries, 3, 6, 9, 12. The second column, y, has the entries, negative 11, 1, 13, 25. A coordinate plane with a straight line with a positive slope passing through (0, 3), (4, 4), and (8, 7). A two column table with five rows. The first column, x, has the entries, negative 5, negative 1, 3, 7. The second column, y, has the entries, 32, 24, 16, 8. A coordinate plane with a straight line with a positive slope passing through (2, 0), (3, 4), and (4, 8)

Answers

The linear function which represents a slope of -3 as required in the task content is; A two column table with five rows. The first column, x, has the entries, negative 5, negative 1, 3, 7. The second column, y, has the entries, 32, 24, 16, 8.

Which answer choice has a slope of -2?

It follows that the task requires that a linear function whose slope, i.e rate of change is -2 is to be determined.

Since slope is the rate of change in y with respect to x;

The required linear function is; A two column table with five rows. The first column, x, has the entries, -5, -1, 3, 7. The second column, y, has the entries, 32, 24, 16, 8 so that we have;

Slope = (24 - 32) / (-1 -(-5)) = -8 / 4 = -2.

Remarks: The complete question is such that the required slope is -2.

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Answer: the second option

Step-by-step explanation:

i took the assignment

i need help!!!! does anyone know this..!!???

i need help!!!! does anyone know this..!!???

Answers

The period of oscillation is 3 seconds

What is period of oscillation?

A Oscillation is the periodic change of a measure around a central value or between two or more states, usually in time.

The time taken for an oscillating particle to complete one cycle of oscillation is known as the Period of oscillating particle. It is measured in seconds

Oscillation can also be vibration or revolution or cycle.

Therefore, using the graph to determine the period. Then the wave particle made a complete oscillation at 3 second.

This means that the period of the particle is 3 seconds.

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Select the correct answer from each drop-down menu. Gino is buying wood screws at the corner hardware store. The table shows different numbers of bags of screws and their corresponding prices. Bags of Screws Price ($) 2 10 4 20 7 35 According to the table, the relationship between the number of bags and the price is proportional or not proportional

Answers

Without the table I will guess 5 is common to all 3 they are proportional

What is the value of x

What is the value of x

Answers

9514 1404 393

Answer:

  x = 10

Step-by-step explanation:

The mnemonic SOH CAH TOA reminds you of the relation ...

  Sin = Opposite/Hypotenuse

  sin(30°) = 5/x

Solving for x, we get ...

  x = 5/sin(30) = 5/0.5

  x = 10

_____

It can be helpful to remember that the side ratios in a 30°-60°-90° triangle are ...

  1 : √3 : 2

That is, the hypotenuse is 2 times the length of the side opposite the 30° angle. Here, that means x = 2×5 = 10, as we found above.

(question 15) Find the derivative of the function
using logarithmic differentiation.

(question 15) Find the derivative of the function using logarithmic differentiation.

Answers

Answer:

\(\textsf{A.} \quad (2+x)^x\left[\dfrac{x}{2+x}+\ln(2+x)\right]\)

Step-by-step explanation:

Replace f(x) with y in the given function:

\(y=(x+2)^x\)

Take natural logs of both sides of the equation:

\(\ln y=\ln (x+2)^x\)

\(\textsf{Apply the log power law to the right side of the equation:} \quad \ln a^n=n \ln a\)

\(\ln y=x\ln (x+2)\)

Differentiate using implicit differentiation.

Place d/dx in front of each term of the equation:

\(\dfrac{\text{d}}{\text{d}x}\ln y=\dfrac{\text{d}}{\text{d}x}x\ln (x+2)\)

First, use the chain rule to differentiate terms in y only.

In practice, this means differentiate with respect to y, and place dy/dx at the end:

\(\dfrac{1}{y}\dfrac{\text{d}y}{\text{d}x}=\dfrac{\text{d}}{\text{d}x}x\ln (x+2)\)

Now use the product rule to differentiate the terms in x (the right side of the equation).

\(\boxed{\begin{minipage}{5.5 cm}\underline{Product Rule for Differentiation}\\\\If $y=uv$ then:\\\\$\dfrac{\text{d}y}{\text{d}x}=u\dfrac{\text{d}v}{\text{d}x}+v\dfrac{\text{d}u}{\text{d}x}$\\\end{minipage}}\)

\(\textsf{Let}\; u=x \implies \dfrac{\text{d}u}{\text{d}x}=1\)

\(\textsf{Let}\; v=\ln(x+2) \implies \dfrac{\text{d}v}{\text{d}x}=\dfrac{1}{x+2}\)

Therefore:

\(\begin{aligned}\dfrac{1}{y}\dfrac{\text{d}y}{\text{d}x}&=x\cdot \dfrac{1}{x+2}+\ln(x+2) \cdot 1\\\\\dfrac{1}{y}\dfrac{\text{d}y}{\text{d}x}&= \dfrac{x}{x+2}+\ln(x+2)\end{aligned}\)

Multiply both sides of the equation by y:

\(\dfrac{\text{d}y}{\text{d}x}&=y\left( \dfrac{x}{x+2}+\ln(x+2)\right)\)

Substitute back in the expression for y:

\(\dfrac{\text{d}y}{\text{d}x}&=(x+2)^x\left( \dfrac{x}{x+2}+\ln(x+2)\right)\)

Therefore, the differentiated function is:

\(f'(x)=(x+2)^x\left[\dfrac{x}{x+2}+\ln(x+2)\right]\)

\(f'(x)=(2+x)^x\left[\dfrac{x}{2+x}+\ln(2+x)\right]\)

Find the slope of the line

Find the slope of the line

Answers

The slope of the line is 5

PLZ HELP WILL GIVE BRAINLIEST

PLZ HELP WILL GIVE BRAINLIEST

Answers

the answer is c

Step-by-step explanation:

it is because you have to times 3 and 4 and 3 and 9

Answer:

The answer is 27/ 12x - 9 = 28

Step-by-step explanation:

All you have to do is multiply 3 X 4x and gives you 12x and multiply 3 X 9 and gives you 27.

3 ( 4x - 9 ) = 28 = 12x - 27 = 28

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Find a 3rd degree polynomial function with real coefficients satisfying the given condition. 2 and -3 +3i are zeros; leading coefficients is 1

Find a 3rd degree polynomial function with real coefficients satisfying the given condition. 2 and -3

Answers

A 3rd degree polynomial function with real coefficients satisfying the given condition. 2 and -3 +3i are zeros; leading coefficients is 1, is:

f(x) = x³ + 4x² + 6x - 36

What is polynomial function?

An expression that consists of variables, constants, and exponents that is combined using mathematical operations like addition, subtraction, multiplication, and division is referred to as a polynomial (No division operation by a variable).

A polynomial function is one that uses only non-negative integer powers or positive number coefficients of such a variables in such an expression like the quadratic function, cubic equation, and so on.

we have to find third degree polynomial, so, n = 3

Since 2 is its zero ,so, x - 2 is its factor

As complex zeros occur in conjugate pairs .

So,other factors are (x + (3 + 3i)) and (x + (3 - 3i)) ,

Firstly, we find the product of these two factors:

= x² + 6x + 9 - 9i²

= x² +6x +9 - 9(-1)

= (x² +6x + 18)

Now multiply (x² +6x + 18) with (x - 2) we get f(x):

= (x² +6x + 18) (x - 2)

= x³ - 2x² + 6x² - 12x + 18x - 36

= x³ + 4x² + 6x - 36

Correct option: b

To know more about polynomial function refer to:

https://brainly.com/question/7693326

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