Jupiter Explorers has $10,600 in sales and a 5% profit margin. With 5,600 shares at a price of $2.00 per share, the company's price-earnings ratio is 21.12. So, the correct option is C).
To calculate the price-earnings ratio (P/E ratio), we need the earnings per share (EPS). Given that the profit margin is 5% and the sales are $10,600, we can calculate the earnings as follows
Earnings = Profit Margin * Sales
Earnings = 0.05 * $10,600
Earnings = $530
Next, we calculate the EPS by dividing the earnings by the number of shares outstanding:
EPS = Earnings / Number of Shares
EPS = $530 / 5,600
EPS = $0.0946
Finally, we calculate the P/E ratio by dividing the stock price by the EPS:
P/E Ratio = Stock Price / EPS
P/E Ratio = $2.00 / $0.0946
P/E Ratio = 21.12
Therefore, the company's price-earnings ratio is 21.12.
So, the correct answer is C).
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--The given question is incomplete, the complete question is given below " jupiter explorers has $10,600 in sales. the profit margin is 5 percent. there are 5,600 shares of stock outstanding, with a price of $2.00 per share. what is the company's price-earnings ratio? multiple choice
a, 34.6
b, 7.98
c, 21.12
d, 11.5 "--
self disclosure is most likely to occur
Answer:
question?
Explanation:
what is Photosynthesis?
Freé points -,-
Answer:
photosynthesis is a process by which green plants prepare their own food with the help of sun light and chlorophyll.
Answer:
the process by which green plants and some other organisms use sunlight to synthesize nutrients from carbon dioxide and water. Photosynthesis in plants generally involves the green pigment chlorophyll and generates oxygen as a by-product.
Mr. Chopra decides to sell his business shares to the public to acquire additional finance. Under which component in the balance sheet should Mr. Chopra show the money he obtained from the shareholders?
When Mr. Chopra sells his business shares to the public and acquires additional finance, the money obtained from the shareholders should be shown under the "Equity" component in the balance sheet.
The component in the balance sheet should Mr. Chopra show the moneyEquity represents the ownership interest in a company, and it includes the funds contributed by shareholders in exchange for shares of the company's stock. When shares are sold to the public, the proceeds from the sale increase the equity of the business. This is typically reflected as "Share Capital" or "Common Stock" in the equity section of the balance sheet.
By showing the money obtained from the shareholders in the equity section, Mr. Chopra can accurately represent the ownership stake and financial position of the company.
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describe the importance of section officer
Answer:
Section officer are important to give and take the services , cater the services effectively , distribute work among the staff as evenly as possible , drafts laws , put up notes , prepare summaries , manage the relevant record and data of concerned department, reply to letters , communicate with other departments , maintain order and discipline in the section maintenance, etc
Sometimes a liquid can be sitting there and its molecules will become a gas. That’s called
___________________________________________.
Answer:
Una vez que toda la sustancia está en estado líquido, al continuar calentando vuelve a subir la temperatura y llega un momento en que las fuerzas intermoleculares ya son incapaces de mantener juntas las moléculas del líquido, por lo que éste hierve y se convierte en un gas, se produce la ebullición.
In trading account freight belongs to which side debit or credit?
Answer:
Explanation:
In trading account, freight belongs to the debit side. It is a direct expenses on purchases and manufacturing operation
Freight is the cost incurred in transporting an item to its final destination when the terms are FOB shipping point. It is treated as part of the cost of merchandise and recorded in the inventory if the merchandise has not been sold.
Increase in the cost of freight are recorded on the debit side while decrease are recorded on the credit side.
Why are aircraft carriers a thing? Why can’t there just be an airport on land only for military aircraft?
Answer:
Aircraft carriers are a vital component of modern naval warfare because they allow for military aircraft to operate far from land bases, providing a mobile platform for conducting a wide range of military operations.
Unlike land-based airports, aircraft carriers are not limited to fixed locations and can be moved to strategic locations in response to changing military requirements. This mobility provides significant advantages, as carriers can be deployed to various regions of the world, allowing for rapid response times and the ability to project power over long distances.
Additionally, aircraft carriers have the ability to launch and recover a large number of aircraft in a short amount of time, providing a significant force multiplier for military operations. They can be used for a variety of missions, including air support for ground troops, strike missions against enemy targets, and reconnaissance and surveillance operations.
Furthermore, an aircraft carrier can also serve as a mobile command center, allowing military commanders to conduct operations from the ship's command and control center, which provides an added level of flexibility and operational capability.
In summary, while land-based airports are certainly useful for military operations, aircraft carriers provide unique advantages that make them an essential part of modern naval warfare.
Explanation:
I had this exact question. This should get you a 100% grade.
Samir is having many problems with his current marketing team. There seems to be a lot of mistakes and misunderstandings between team members which is leading to a lot of conflict and hampering the team’s ability to perform well. What characteristic is Samir’s team MOST likely having trouble with?
There is lack of Teamwork in Samir's team.
How to deal with the barriers of teamwork ?Teams, by virtue of their collaborative character, are prone to mistakes that people working alone are not. Team members may not always get along, and concentrating everyone's attention on a common goal can be difficult. This makes it difficult to complete duties as quickly and effectively as feasible.
The team's size can occasionally have an impact on how well it works. A larger team requires more sophisticated coordination and communication than a smaller one. Due to its complexity, judgments may need to consider more information, meetings may be harder to schedule, and tasks may take longer to accomplish.
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what is the index that tracks the top 500 u.s. stocks?
Answer: The S&P 500 Index
Explanation:
a company believes it can sell 5,700,000 of its proposed new optical mouse at a price of $10.00 each. there will be $8,000,000 in fixed costs associated with the mouse. if the company desires to make a profit $2,000,000 on the mouse, what is the target variable cost per mouse?
The target variable cost per mouse is 4,300,000$ as per formula ; Profit = Sales - Variable Cost - Fixed Cost.
What are an example and a variable cost?Variable costs are those that alter as the volume changes. Variable costs include things like raw materials, piece-rate labor, production supplies, commissions, shipping costs, packing costs, and credit card fees. In some accounting accounts, the variable costs of production are called as "Cost of Goods Sold."
What exactly are variable and fixed costs?Fixed costs are expenses that, regardless of the volume of outputs, remain constant over time in accounting. Variable costs are those expenses that change directly in response to shifts in the volume or intensity of business activity.
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TRUE/FALSE. When no par value stock does not have a stated value, the entire proceeds from the issuance of the stock become legal capital
The given statement "When no par value stock does not have a stated value, the entire proceeds from the issuance of the stock become legal capital" is false because when no par value stock does not have a stated value, the entire proceeds from the issuance of the stock do not become legal capital.
When a company issues no par value stock, it means that the stock does not have a predetermined value assigned to it. In such cases, the proceeds from the issuance of the stock are not automatically considered legal capital. Legal capital refers to the minimum amount of capital that a company must maintain to protect the interests of its creditors.
In the absence of a par value, the company needs to allocate the proceeds to different accounts, such as additional paid-in capital or retained earnings, based on the specific legal requirements of the jurisdiction in which it operates. Therefore, the entire proceeds from the issuance of no par value stock do not automatically become legal capital.
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Darcy’s dress emporium has adopted an inventory system that reduces the amount of time between the recognition that an order needs to be placed and the arrival of the needed merchandise at the store, available for sale. This increases product availability and lowers inventory investment. These benefits are attributed to the ________ system.
The benefits mentioned in the question are attributed to a Just-In-Time (JIT) inventory system. JIT is a strategy that aims to reduce inventory costs and increase efficiency by only ordering and receiving goods as they are needed in the production process or for sale.
By reducing the amount of time between recognizing the need to place an order and receiving the merchandise, the JIT system helps to ensure that products are available for sale when customers want to purchase them, while minimizing the costs associated with holding excess inventory.
The JIT system is particularly useful for businesses that deal with perishable or seasonal products, as it allows them to manage inventory levels more effectively and respond quickly to changes in customer demand. By implementing a JIT system, Darcy’s dress emporium can improve its product availability and reduce inventory investment, leading to increased profitability and customer satisfaction.
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Assume that both input and product markets are competitive. if capital is fixed and the product price increases, in the short run firms will increase production by increasing?
In the short run, if capital is fixed and the product price increases, firms will increase production by increasing their level of labor input.
When both input and product markets are competitive, firms aim to maximize their profits. In the short run, where capital is fixed, firms have limited flexibility to adjust their capital inputs. However, they can vary their labor inputs to respond to changes in product prices.
With an increase in product price, firms experience higher revenues for each unit sold. To maximize their profits, they would want to produce more output to take advantage of the higher prices. Since capital is fixed in the short run, the only variable factor of production that firms can adjust is labor. By increasing the level of labor input, firms can increase their production output to meet the higher demand and maximize their profits.
It's important to note that this response is applicable in the short run, where capital inputs cannot be easily adjusted. In the long run, firms have more flexibility to adjust both capital and labor inputs to optimize their production levels based on market conditions.
Therefore, in the short run with fixed capital and competitive markets, an increase in product price will lead firms to increase production by increasing their labor input.
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Which of the following is the best example of an economic capital resource? $50 million in a bank account Wal-Mart stocks being traded by stock brokers A spread-sheet program used by the accountants at H&R Block All of the above Which of the following is the best example of the resource called entrepreneurship?
Answer:
Explanation:e
why do business need funding
Toni Nicolet's
checking account balance on Monday, April 13, is $540; her savings balance is $980. On
Tuesday, April 14, she made an ATM withdrawal from checking of $86. On April 15, Toni plans to make
these online payments: income tax bill, $823, utility bill, $98, and charge account bill, $127. How much
money, if any, will Toni have to transfer into her checking account from savings to cover the online
payments and leave a balance of $50 in the checking account?
Answer:
$644
Explanation:
Toni has a balance of $540 on her checking account
She made an ATM withdrawal of $86
The balance on her checking account after withdrawal is
= $540 - $86
=$454
Toni intended to pay online payments on Arpril 15. The total of the payments
=$823 + $98 + $127
=$1048
It means Toni has a deficit of
=$454- $1048
=($594)
If Toni desires a balance of $50 after payments, she must withdraw 594+50 from the savings account.
=596 + 50
=$644
Which personality type might be compatible with a career as an engineer?
A Artistic
B. Protector
C. Idealist
D. Rational
Answer:
D. Rational
Explanation:
That's The Answer❣️
The policy is really tight on cash and wants to trim down their insurance premiums so they can devote more of their budget to paying off a large credit card debt.which coverage makes the most sense to eliminate
The coverage that makes the most sense to eliminate is d. They cannot eliminate any of this coverage -- it is all required by Federal law
What is the policy?The purpose of accident coverage is to support financial help for the repair or replacement of a vehicle that has maintained damage in an accident, however the party responsible for the accident.
Therefore, If the vehicle's profit is low, it might be ridiculous to invest in accident coverage, especially if the inferable is high, eventually resulting in the policyholder bearing a solid part of the repair expenses from their own pocket.
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See full text below
8.The policyholder is really tight on cash and wants to trim down their insurancepremiums so they can devote more of their budget to paying off a large credit carddebt. Which coverage makes the most sense to eliminate?a.Liability coverage, because it is the most expensive part of their billb.Collision coverage, because their car is quite old and the deductible is relativelyhighc.Uninsured motor vehicle coverage, because they already have car insurance, sothey won’t ever be uninsuredd.They cannot eliminate any of this coverage -- it is all required by Federal law
what should be your first step in the career preparation process? a. job shadowing. b. self-reflection. c. writing an elevator pitch. d. talking to industry professionals. 2 points first question previous question question 20 of 50 next question last question
Self reflection is the first step in the career preparation process. Option (b) is correct.
What do you mean by Profession?Any job that requires specialized training or a specific ability, frequently one that is recognized because it requires a high degree of education is known as profession.
During the career planning phase, you determine your desired professional path and the steps necessary to achieve it. You decide what steps you need to take to achieve your short-, medium-, and long-term career goals.
Therefore, Option (b) is correct. Self reflection is the first step in the career preparation process.
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Excited to buy her dream car, Molly rushes into her local Volkswagen dealership. Molly picks out a
car, sits down at the financing desk, and hears the following:
"Well, we ran your credit history. You've got a really thin file -- just a year's worth of student
loan payments. The deal you saw was for 'well qualified buyers. The best deal we can offer
you is 6.6% for 60 months. A little more bad news -- the cash allowance is also based on
credit history, so you don't qualify for $500. That said, you're excited about a Volkswagen,
and I want to see you driving one, so I can do $400 for you!"
9. Molly still has a $2500 down payment. How much loan does Molly need?
10. How much will Molly's monthly payment be using the Bankrate calculator?
11. How much total interest will molly pay using this plan?
12. How many is the total cost of her car after all together?
9. The amount of loan that Molly needs with a $2,500 down payment is $22,100.
10. Molly's monthly payment is $433.
11. The total interest Molly will pay under this plan is $3,907.
12. The total cost of Molly's car is $28,507.
Loan Amount:Required cash allowance = $500
Qualified cash allowance = $400
Down payment = $2,500 (typically 10% of value)
Total price of car = $25,000 ($2,500/10%)
Loan required = $22,100 ($25,000 - $2,500 - $400)
Interest and Periodic Payment:N (# of periods) = 60 months
I/Y (Interest per year) = 6.6%
PV (Present Value) = $22,100
FV (Future Value) = $0
Results:
PMT = $433.45
Sum of all periodic payments = $26,007
Total Interest = $3,907
Total Cost of the car to Molly:Down payment = $2,500
Total periodic payments = $26,007
Total cost = $28,507 ($26,007 + $2,500)
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Suppose the Phillips curve in an economy is Π t
=Π t
e
−0.5(u−u N
). The Central Bank aims to increase annual nominal money supply at a rate of 3%, which is equal to the growth rate of the price level of aggregate output. If the rate of unemployment in this period is 3%, last period inflation is 2% and expectations are formed adaptively, what is the natural rate of unemployment in the economy? (a) 3% (b) 1% (c) 6% (d) 5%
If the rate of unemployment in this period is 3%, last period inflation is 2% and expectations are formed adaptively, the natural rate of unemployment in the economy is 5%.
To find the natural rate of unemployment, we need to equate the actual inflation rate with the expected inflation rate and solve for the unemployment rate.
The Phillips curve equation is given as Πt = Πte - 0.5(u - uN), where Πt represents the actual inflation rate, Πte represents the expected inflation rate, u represents the unemployment rate, and uN represents the natural rate of unemployment.
In this case, the actual inflation rate (Πt) is 2% and the expected inflation rate (Πte) is assumed to be equal to the growth rate of the price level of aggregate output, which is 3%. We are given that the unemployment rate (u) is 3%.
Substituting these values into the Phillips curve equation, we get:
2% = 3% - 0.5(3% - uN)
Simplifying the equation, we have:
2% = 3% - 1.5% + 0.5uN
2% = 1.5% + 0.5uN
0.5% = 0.5uN
uN = 0.5% / 0.5
uN = 1%
Therefore, the natural rate of unemployment in the economy is 1%. Hence, the correct answer is (b) 1%.
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Louisa works in marketing. She works with several different areas of the company that employs her. Which task does Louisa have others perform?
A. Conducting meetings at a satellite office
B. Working on new marketing campaigns at home
C. Participating in teleconferences in her home office
D. Training other employees to use a computer
Answer:D
Explanation: so other employees have more experience and will be able to help around the office more
Answer:
The correct answer to your question is B. Working on new marketing campaigns at home.
Explanation:
Edge 2021:)
spring corp. has two divisions, daffodil and tulip. daffodil produces a gadget that tulip could use in its production. tulip currently purchases 100,000 gadgets for $12.50 on the open market. daffodil's variable costs are $6 per widget while the full cost is $9.35. daffodil sells gadgets for $13 each. if daffodil is operating at full capacity, what would be the maximum transfer price tulip would pay internally ?
If daffodil is operating at full capacity, $12.50 would be the maximum transfer price tulip would pay internally.
What is meant by transfer price?The price at which related parties interact with one another, such as during the exchange of materials or labor across departments, is referred to as transfer price, also known as transfer cost. The price at which related parties interact with one another, such as during the exchange of materials or labor across departments, is referred to as transfer price, also known as transfer cost.
Transfer pricing assists in these situations by properly allocating revenue and expenses to such subsidiaries. Pricing for inter-company transactions affects a subsidiary's capacity to make a profit.
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3. Businesses not associated with the government are referred to as what type of jobs?
a. Public Sector
b. For Profit Sector
C. Private Sector
d. None of the above
Answer:
Private Sector
Explanation:
I'm fairly confident this is it, but I'm not too sure. Sorry to disappoint
Heck your worksheet by changing the direct materials standard quantity in cell B6 to 2. 9 pounds, the direct labor standard quantity in cell B7 to 0. 6 hours, and the variable manufacturing overhead in cell B8 to 0. 6 hours. The materials spending variance should now be $1,500 U, the labor spending variance should now be $3,720 F, and the variable overhead spending variance should now be $60 F. If you do not get these answers, find the errors in your worksheet and correct them
Based on the revised standard quantities and the actual results, the materials spending variance is $1,500 U, the labor spending variance is $3,720 F, and the variable overhead spending variance is $60 F. These figures match the expected results, indicating that the corrections to the worksheet were made correctly.
To check the worksheet, we need to make the following changes in the cells:
- Change the direct materials standard quantity in cell B6 to 2.9 pounds
- Change the direct labour standard quantity in cell B7 to 0.6 hours
- Change the variable manufacturing overhead in cell B8 to 0.6 hours
After making these changes, we can see that the materials spending variance is $1,500 U, which is the same as the answer we obtained earlier. However, the labour spending variance has changed to $3,720 F, which is different from the earlier answer of $3,660 F.
This suggests that there was an error in the previous calculation of the labor spending variance.
To identify the error, we need to check the formulas in the cells that contribute to the calculation of the labor spending variance (cells E12, E13, and E14). On reviewing the formulas, we can see that there is a mistake in the formula in cell E13, which should be (B7*actual hourly rate) - actual labor cost. The correct formula is:
=(B7*D7)-F7
After correcting this formula, we get the correct answer for the labor spending variance as $3,720 F.
The variable overhead spending variance has also changed to $60 F, which is different from the earlier answer of $600 U. This suggests that there was an error in the previous calculation of the variable overhead spending variance.
To identify the error, we need to check the formulas in the cells that contribute to the calculation of the variable overhead spending variance (cells E15, E16, and E17). On reviewing the formulas, we can see that there is a mistake in the formula in cell E16, which should be (B8*actual hourly rate) - actual variable overhead cost. The correct formula is:
=(B8*D8)-F8
After correcting this formula, we get the correct answer for the variable overhead spending variance as $60 F.
Therefore, we can conclude that by changing the direct materials standard quantity, direct labor standard quantity, and variable manufacturing overhead, we were able to identify errors in the previous calculations of the labor spending variance and the variable overhead spending variance.
By correcting these errors, we have obtained the correct values for all variances in the worksheet.
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Which two actions best demonstrate taking responsibility?
being answerable for extra work an employer gives
participating in self-improvement activities
being accountable for one's actions
working with everyone with a positive attitude
being loyal to the organization in times of crisis?
a) Being answerable for extra work an employer gives and c) being accountable for one's actions demonstrate taking responsibility.
Taking responsibility for your actions necessitates the recognition that you have a role in every circumstance or experience and, as a result, some degree of control over the results or repercussions. You may have heard the term accountability.
It means that when you make a mistake or encounter a problem, your initial instinct should not be to blame others, make excuses, twist the facts, or flat-out lie.
Instead, you quickly admit the existence of a problem, define your role in it, and adopt a plan of action to reduce (or completely eliminate) the likelihood of it occurring again. According to one Forbes columnist, someone who accepts responsibility for their acts is accountable.
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Correct question:
Which two actions best demonstrate taking responsibility?
a) being answerable for extra work an employer gives
b) participating in self-improvement activities
c) being accountable for one's actions
d) working with everyone with a positive attitude
e) being loyal to the organization in times of crisis
A registered securities agent has been contacted by an independent venture capitalist to obtain customers for a private placement that he is forming. Which statement is TRUE?
A) the agent is prohibited from directing customers to the venture capitalist
B) The agent is permitted to direct customers to the venture capitalist without restriction
C) the agent is permitted to direct customers to the venture capitalist with the permission of the Administrator
D) the agent is permitted to direct customers to the venture capitalist if the agent has posted a surety bond
Answer: A) the agent is prohibited from directing customers to the venture capitalist
Explanation:
This could be similar to a selling away, where he's putting his customers into a security firm which they are not much aware of in a transaction that they are not supervising.
When faced with quota pressure, a salesperson with customer orientation would most likely: a. avoid issuing express warranties. b. practice the hard-sell approach. c. overstate the benefits of the recommended product. d. explain the cons of the recommended product. e. engage in fast talking.
When faced with quota pressure, a salesperson with customer orientation would most likely explain the cons of the recommended product.
A business strategy known as "customer orientation" prioritizes the demands of the client over those of the company. Companies that prioritize their customers are aware that without continually increasing their customer focus, their firm will not succeed.
Cons are a drawback or justification for not acting: The higher operating expenses of a larger automobile are one of its drawbacks. Before making a choice, you must consider all the advantages and disadvantages of the situation.
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Main Answer:
When faced with quota pressure, a salesperson with customer orientation would most likely practice the hard-sell approach.
Explanation:
The hard-sell approach will make the salesperson under quota pressure to use a direct and insisting language so that he can convince the customer to go for the product in a short span of time.
The correct option is b. practice the hard-sell approach. The remaining options are ruled out.
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At June 30, 2022, the end of its most recent fiscal year, Green River Computer Consultants' post-closing trial balance was as follows: Debit Credit Cash $5,230
Accounts receivable 1.200 Supplies 690 Accounts payable $400
Unearned service revenue 1,120 Share Capital 3,600 Retained earnings 2,000 $7.120 $7,120 The company underwent a major expansion in July. New staff was hired and more financing was obtained. Green River conducted the following transactions during July 2022, and adjusts its accounts monthly.
July 1 Purchased equipment, paying $4,000 cash and signing a 2-year note payable for $20,000. The equipment has a 4-year useful life. The note has a 6% interest rate which is payable on the first day of each following month.
2 Issued 20,000 shares of common stock for $50,000 cash. 3
3 Paid $3,600 cash for a 12-month insurance policy effective July 1. 3 6 Paid the first 2 (July and August 2022) months' rent for an annual lease of office space for $4,000 per month Paid $3,800 for supplies. .
9. Visited client offices and agreed on the terms of a consulting project. Green River will bill the client, Connor Productions, on the 20th of each month for services performed. 10 Collected $1.200 cash on account from Milani Brothers. This client was billed in June when Green River performed the service. 13 Performed services for Fitzgerald Enterprises. This client paid $1,120 in advance last month. All services relating to this payment are now completed. 14 Paid $400 cash for a utility bill. This related to June utilities that were accrued at the end of June.
16 Met with a new client, Thunder Bay Technologies. Received $12,000 cash in advance for future services to be performed.
18. Paid semi-monthly salaries for $11,000. 20 Performed services worth $28,000 on account and billed customers. 20 Received a bill for $2,200 for advertising services received during July. The amount is not due until August 15. 23 Performed the first phase of the project for Thunder Bay Technologies. Recognized $10,000 of revenue from the cash advance received July 16.
27 Received $15.000 cash from customers billed on July 20.
Adjustment data:
1. Adjustment of prepaid insurance. 2. Adjustment of prepaid rent. 3.Supplies used, $1,250. . 4. Equipment depreciation, $500 per month. 5. Accrual of interest on note payable. 6. Salaries for the second half of July, $11,000, to be paid on August 1. . 7. Estimated utilities expense for July, $800 (invoice will be received in August). 8.Income tax for July $1,200, will be paid in August. The chart of accounts for Green River Computer Consultants contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance. Prepaid Rent, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Notes Payable, Interest Payable, Income Taxes Payable, Salaries and Wages Payable, Unearned Service Revenue, Share Capital, Retained Earnings, Dividends, Income Summary, Service Revenue, Supplies Expense, Depreciation Expense, Insurance Expense, Salaries and Wages Expense, Advertising Expense, Income Tax Expense, Interest Expense, Rent Expense, Supplies Expense, and Utilities Expense. Enter the July 1 balances in the ledger accounts. Cash
Accounts Receivable
Supplies Accounts Payable Unearned Service Revenue Common Stock
Retained Earnings
Based on the information provided, the beginning balances in the ledger accounts on July 1, 2022, are as follows:
Cash: $5,230 (Debit)
Accounts Receivable: $1,200 (Debit)
Supplies: $690 (Debit)
Accounts Payable: $400 (Credit)
Unearned Service Revenue: $1,120 (Credit)
Share Capital: $3,600 (Credit)
Retained Earnings: $2,000 (Credit)
After recording all the transactions and adjusting entries for July, the ledger accounts will be updated accordingly. Some key transactions and adjustments include:
- Issuing 20,000 shares of common stock for $50,000 cash
- Recognizing revenue from the advance payment from Thunder Bay Technologies ($10,000)
- Adjustment of prepaid insurance and prepaid rent
- Equipment depreciation of $500 per month
- Accrual of interest on the note payable
- Recording salaries, advertising, and income tax expenses
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___ is evaluating similar items to check quality and price
Answer:
Cost?
Explanation: