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AnnyKZ [126]
1 year ago
11

Sally Smith decided to start a sea shell business organized as a corporation. Her initial investment in the business consisted o

f $10,000 in cash in exchange for common stock. Record this transaction in the accounting equation of the new business by___________.
Business
1 answer:
saw5 [17]1 year ago
7 0

Answer:

Dr Cash Account and Cr Capital Account

Explanation:

Initial investment  of $10,000 is the capital injected by the owner of the business. This inflow will be credited as an equity capital of the company while the cash balance will be debited as it represent a cash inflow to the business.

You might be interested in
Tuscan Inc. had a retained earnings balance of $60,000 at December 31, 2018. During the year, Tuscan had the following selected
GuDViN [60]

Answer:

$139,000

Explanation:

The computation of the retained earnings balance at December 31, 2019 is shown below:

= Beginning retained earning balance + depreciation charged yearly + net income - cash dividend paid

= $60,000 + $12,000 + $100,000 - $33,000

= $139,000

The depreciation in yearly is

= $1,000 × 12 months

= $12,000

Basically we applied the above formula to determine the ending balance

4 0
2 years ago
Multi-product branding is:_______.
Elan Coil [88]

Answer:

b. a branding strategy in which a company uses one name for all of its products in a product class.

Explanation:

Multi-product branding is a branding strategy in which a company uses one name for all of its products in a product class.

Multi-product branding is a business strategy widely used by manufacturers, it involves producing and selling multiple products using the same brand name for all.

For instance, Pears may have Pears diapers, clothing lines, lipstick ranges, shoes, body lotions, eye shadow, foundation etc. They are all different products manufactured and all branded as Pears.

The merits and advantages of Multi-product branding is high brand awareness, low promotional and advertising costs, and brand equity return.

8 0
1 year ago
Policies based on ABC analysis might include investing __________.A. extra care in forecasting for C items. B. more in supplier
Ilia_Sergeevich [38]

Answer:

Correct option is B

more in supplier development for A items.

Explanation:

In materials management, the ABC analysis is an inventory categorization technique. ABC analysis divides an inventory into three categories—"A items" with very tight control and accurate records, "B items" with less tightly controlled and good records, and "C items" with the simplest controls possible and minimal records.

The ABC analysis provides a mechanism for identifying items that will have a significant impact on overall inventory cost, while also providing a mechanism for identifying different categories of stock that will require different management and controls.

6 0
2 years ago
Suppose that you buy a new car, and you purchase it with a bag of gold coins minted in a foreign country. Which of the following
aleksley [76]

Answer:

D. The gold coins are a commodity money because even though they were issued by a foreign government, the gold has intrinsic value

Explanation:

Commodity money is money that has intrinsic value. Its value can be derived from the material from which it is made. E.g. gold, salt, silver

Fiat money is money that has no intrinsic value but the government establishes it as money.

I hope my answer helps you

5 0
2 years ago
How does having a flexible mind help you become a better employee?
likoan [24]
Well you can ask yourself which of these answers have to do with having a flexible mind. I would say having a flexible mind
helps you become a team player
because in order to work with other people you must have a flexible mind. 
8 0
1 year ago
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