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ioda
2 years ago
7

Victor Cruz contributed $77,000 in cash and land worth $144,000 to open a new business, VC Consulting, in exchange for common st

ock. Which of the following general journal entries will VC Consulting make to record this transaction?A. debit cash 77,000; debit land 144,000; common stock 221,000B. debit common stock 122,000; credit assets 221,000C debit common stock 221,000; credit cash 77,000; credit land 144,000D credit cash and land 221,000; common stock 221,000E debit accounts payable 221,000 common stock 221,000
Business
2 answers:
Tpy6a [65]2 years ago
6 0

Option A is correct

Explanation:

The following entry will be passed by VC Consulting in the books of accounts:

<u>Particulars                Debit                  Credit </u>

Cash                           77000

Land                             144000

To common stock                              221000

Cash account and Land account will be debited in the books of account with an amount of $77000 and $144000 and common stock will be credited with an amount of $221000

Therefore, the option with this will be the correct option.

From the given option, A is the correct one.

Scilla [17]2 years ago
5 0
No
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4 0
2 years ago
Carmen is a member of a student taskforce that was asked to recommend solutions to the university's budget problem. when she not
9966 [12]

Answer: democratic leadership

Carmen stated a possible solution that was increasing tuition fee and then Carmen said that it should be considered. This means that she did not impose it that that is the only solution and that has to be done in any way, if she did then it would’ve been autocratic leadership.

Carmen left some room for discussion and this means it is a democratic approach in leadership.  


8 0
2 years ago
The common stock of Detroit Engines has a beta of 1.34 and a standard deviation of 11.4 percent. The market rate of return is 11
stealth61 [152]

Answer:

The firm's cost of equity is C. 14.05 percent

Explanation:

Hi, we need to use the following formula in order to find the cost of equity of this firm.

r(e)=rf+beta(rm-rf)

Where:

r(e) = Cost of equity

rf = risk free rate

rm = Market rate of return

Everything should look like this.

r(e)=0.04+1.34(0.115-0.04)=0.1405

So, this firm´s cost of equity is 14.05%

Best of luck

6 0
2 years ago
Becky only eats out at Macaroni Grill and eats out 3 times per month. She receives a raise fro $31,900 to $33,500 and decided to
ololo11 [35]

Answer:

Since elasticity is 6.4, a positive figure,it is normal good and the fact that it is greater than one means it is elastic,hence option A is correct

Explanation:

The formula for income elasticity of demand is given as:

/(new quantity-old quantity)//(old price+new price)/2)/(New income-Old income)/(old income+new income)/2)

New income=$33,000

Old income=$31,900

New quantity =5 times

Old quantity=3 times

Hence=(5-3)/(3+5)/2)/(33500-31900)/(31900+33500)/2)

Elasticity=6.45

6 0
2 years ago
Hamrick Industries makes and sells two products. The demand for both products is unlimited. Product A has a contribution margin
sergejj [24]

Answer:

Product A because the contribution margin per MH is $23.33

Explanation:

In terms of efficiency, you have to look for the highest outcome with the fewer use of resources. In this case, the resources available are the machines, and the outcome is the profit (margin per unit). Applying the formula:  Efficiency producing X (Ex) = [(1 hour of machine hour) / (Product x timed used per unit)]Margin per unit X, and comparing products A and B, you get that producing A is more efficient in terms of profits than producing B, by $10,1 per hour (23,33 - 13,2)

8 0
2 years ago
Read 2 more answers
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