answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Goryan [66]
2 years ago
14

he following are the transactions of Spotlighter, Inc., for the month of January: a. Borrowed $4,940 from a local bank on a note

due in six months. b. Received $5,630 cash from investors and issued common stock to them. c. Purchased $3,000 in equipment, paying $1,200 cash and promising the rest on a note due in one year. d. Paid $1,300 cash for supplies. e. Bought and received $1,700 of supplies on account. Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Business
1 answer:
Alona [7]2 years ago
7 0

Answer:

a.

(A) Cash +4,940

(L) Notes payable (short-term) +4,940

b.

(A) Cash +5,630

(S) Common Stock +5,630

c.

(A) Cash -1,200

(A) Equipment +3,000

(L) Notes payable (short-term) +1,800

d.

(A) Cash -1,300

(A) Supplies +1,300

e.

(A) Supplies +1,700

(L) Accounts payable +1,700

Explanation:

(A) = Assets  

(L) = Liabilities

(S) = Stockholders' Equity

(A) = (L) + (S)

Transaction a.

(A) Cash +4,940

(L) Notes payable (short-term) +4,940

Transaction b.

(A) Cash +5,630

(S) Common Stock +5,630

Transaction c.

(A) Cash -1,200

(A) Equipment +3,000

(L) Notes payable (short-term) +1,800

Transaction d.

(A) Cash -1,300

(A) Supplies +1,300

Transaction e.

(A) Supplies +1,700

(L) Accounts payable +1,700

Hope this hepls!

You might be interested in
How does newton's law apply to a company's brand? explain, citing at least one example. the bigger the brand the more force it t
LUCKY_DIMON [66]

Answer:

Explanation:

The person who spoke says that, if the the brand is very huge, (so also it will have a huge baggage ), by this , the force that will be needed to change its positioning will be high. An example is companies like

Unilever, P&G like to keep all the brands they have differently like Pringles and cornflakes and another example is companies like Hoover found it very hard to convince the world that they were more than vaccum cleaners as a brand.

6 0
2 years ago
At December 31, 2019, Bramble Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 108,506
ale4655 [162]

Answer:

The earnings per share for Bramble in 2020 is $2.99

Explanation:

This was arrived at by preparing income statement for 2020,where in the results from continued operations and discontinued were shown.

The income from continued operations attracted tax at 35% while the losses from the discontinued operations got a tax benefit at the same 35% tax rate.

Note that the earnings used in calculating earnings per share is net of preferred dividends as only earnings  attributable to ordinary shareholders are considered.

Find attached spreadsheet for the full blown income statement and the calculation of earnings per share.

Download xlsx
5 0
2 years ago
Warren Cassell, owner of Just Books, a very small book store, makes special orders for customers at no extra charge, provides fr
Anna007 [38]

Answer:

Cassell is relying on Guerrilla Marketing strategy in this case.

Explanation:

Guerrilla Marketing:

It is a such type of marketing strategy in which we use non-traditional ways to accomplish our marketing goals. This unconventional way of marketing is directed towards developing an emotional between a business/organization and its customer.

Example:

The common example of guerrilla marketing is as follow:

A company named "XYZ" sells soft drink and they start a campaign in a public space in which they offer free drinks to the public. The people taste their soft drink for free and tell others about it.  

In our case, Warren Cassell use this strategy of marketing by offering them free gift-wrapping, free autographed copies of books etc so that the customer develop a very strong emotional bond with the book store. As a result, they will tell other people about her generosity and will help her to expand her business.    

5 0
2 years ago
Read 2 more answers
All of the following are resources of an organization EXCEPT ______.
Ksivusya [100]

Answer:

The correct answer is letter "C": weak competitors in the industry.

Explanation:

Organizational resources are all those assets a company has that allows the firm to maintain or improve its production process. Organizations can have <em>human, capital, monetary, </em>and <em>raw materials resources</em>. After properly combined, the firm's resources created final goods.

In that case, competitors do not represent assets firms can use in their production process.

7 0
2 years ago
Why was friedrich von hayek against government intervention in an economy?
Ray Of Light [21]
The answer top the question stated above is letter D. It would improve the economy's situation.

For F<span>riedrich Von </span>Hayek, less government intervention<span> meant more </span>economic freedom. He believed that if  people are free to choose, then the economy runs more efficiently. 
Thus, it would improve the economy's situation.
3 0
2 years ago
Read 2 more answers
Other questions:
  • A 25-year maturity bond with par value $1,000 makes semiannual coupon payments at a coupon rate of 8%. a. Find the bond equivale
    8·1 answer
  • Campbell Inc. produces and sells outdoor equipment. On July 1, 20Y1, Campbell issued $30,000,000 of 10-year, 10% bonds at a mark
    9·1 answer
  • Crane Company reported total manufacturing costs of $390000, manufacturing overhead totaling $59000, and direct materials totali
    14·1 answer
  • Marina Lyon works as a reservation executive at a travel and tourism company. Though her job requires her only to efficiently bo
    15·1 answer
  • Kavitha and Andrei are truck drivers for the Delightful Delivery Company, which services cities WWW, TTT, and QQQ. The distance
    6·1 answer
  • In 2017 Wilkinson Company had net credit sales of $2250000. On January 1, 2017, Allowance for Doubtful Accounts had a credit bal
    8·1 answer
  • If $525,000 of bonds are issued during the year but $210,000 of old bonds are retired during the year, the statement of cash flo
    14·1 answer
  • Freddie's Market offers customers tissues, canned goods, napkins, and various detergents in basic packaging with no identified b
    8·1 answer
  • If average annual income for all workers is $37,000 and a person with a bachelor’s degree can expect to earn 32 percent more tha
    14·1 answer
  • Assume the November transactions for Camindo Co. are as follows:
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!