Record following transactions in General Journal.
1st May 2022:
Peter Klaus started Peter’s Furniture Repair a furniture repair and refinishing business.
by investing Rs. 50,000 in cash.
3rd May:
Paid rent for the month, Rs. 4,000
5th May:
Paid supplies on credit for Rs480
7th May:
Performed services for cash, Rs 990
9th May:
Purchased a used pick-up truck for Rs. 8,500.
28th May:
Paid for supplies bought on May 5th.
29th May:
Withdrew Rs. 600 cash for personal use.
29 May:
Performed services for cash Rs 1,075
30th May:
Paid utility bill for Rs 360
31st May:
Performed services for cash Rs 300
Answers
The following transactions in General Journal 3 may: Rent. 4000, Cash. 4000
5 May: Supply. 480, cash. 480
7 may: Services 990, cash 990
Briefing:-9 may: Pick up truck 8500, Cash. 8500
28 may: Supplies. 480, Cash. 480
29 may: Service 1075, Cash. 1075
30 may: Bill 360, cash 360
31 may: service 300, cash 300
Describe general transaction.Transactions done to sub-ledger accounts as journal entries are summarized in general ledger transactions. Every general ledger account and its balance are listed in the trial balance report, making modifications and errors easy to see.
What does a general journal transaction mean?The accounting record-keeping system includes the general journal. A transaction is a required recording of an occurrence that must be kept track of; it can be made in either the general journal or a specialty journal.
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Related Questions
Definition of meeting
Answers
Interaction with someone is called meeting..
according to me yes
Specialization in production was the starting point for:A. The Wealth of Nations, by Adam Smith.
B. The General Theory, by John Maynard Keynes.
C. Das Kapital, by Karl Marx.
D. Free to Choose, by Milton Friedman.
Answers
Specialization in production was the starting point for The Wealth of Nations by Adam Smith. His ideas are still relevant today, as many countries use a form of free-market capitalism to drive economic growth.
What do you know about Adam Smith?
Adam Smith was a Scottish philosopher and economist who is widely regarded as the founder of modern economics. He is best known for his 1776 book "An Inquiry into the Nature and Causes of the Wealth of Nations", which is considered the first work of modern economics. Smith argued that the division of labour and the pursuit of self-interest would lead to economic prosperity. His ideas have had a profound influence on the way people think about economics, and his theories are still widely taught and studied today. He is also remembered for his ethical philosophy, which argued that people should be free to pursue their own interests and that governments should not interfere with this pursuit.
So, The required answer is A.
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A firms dividend payments less any net new equity raised is referred to as the firms
Answers
A firm's dividend payments less any net new equity raised are referred to as the firm's Cash flow to stockholders.
What is cash flow vs revenue?Revenue is the cash a business brings in from the sale of its goods and services. A company's net cash inflow and outflow are known as its cash flow. Cash flow is more of a liquidity indicator than revenue, which measures the effectiveness of a company's sales and marketing.
The amount of money a business distributes to its shareholders is known as a cash flow to stockholders. The cash dividends paid out during a reporting period are represented by this sum.
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what is the relative worth of goods
Answers
Relative Value in Consumption is measured as the relative cost of the amount of goods and services such as food, shelter, clothing, etc., that an average household would buy. Historically this bundle has become larger as households have bought more over time.
How would the distribution of income change if social security were privatized
Answers
Answer:
One of the debates surrounding the Social Security program is whether it should be privatized. With any policy decision, however, there are costs and benefits associated with changing the status quo. In this case, the status quo is the Social Security program in its current form. Privatizing would bring significant changes.
Explanation:
Required information {The following information applies to the questions displayed below. At the beginning of Year 2, the Redd Company had the following balances in its accounts:
Cash $8,200
Inventory 2,200
Common stock 7, 700
Retained earnings 2,700
During Year 2, the company experienced the following events:
1. Purchased inventory that cost $5,700 on account from Ross Company under terms 2/10, n/30. The merchandise was delivered FOB shipping point. Freight costs of $520 were paid in cash.
2. Returned $350 of the inventory that it had purchased because the inventory was damaged in transit. The seller agreed to pay the return freight cost.
3. Paid the amount due on its account payable to Ross Company within the cash discount period.
4. Sold inventory that had cost $6,200 for $9,200 on account, under terms 2/10, n/45.
5. Received merchandise returned from a customer. The merchandise originally cost $520 and was sold to the customer for $820 cash. The customer was paid $820 cash for the returned merchandise.
6. Delivered goods FOB destination in Event 4. Freight costs of $620 were paid in cash.
7. Collected the amount due on the account receivable within the discount period.
8. Took a physical count indicating that $1,900 of inventory was on hand at the end of the accounting period.
Required
a. Identify these events as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE) (Select "NA" if there is no effect on the "Classification".) Classification Event 1a. (Purchase inventory). 16. (Shipping cost) 4a. (Recording revenue). 4b. (Recording cost of goods sold) 5a.(Reversing revenue) 46. (Reversing cost of goods sold). 6.
b. Record each event in a statements model like the following one. In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, and NC for net change in cash. The first event is recorded as an example. (Enter any decreases to account balances and cash outflows with a minus sign.
Answers
Answer:
Assets:
Cash 8200 - 520 - 5243 - 820 - 620 + 9016 = 10,013
Receivables 9200 - 9200 = 0
Inventory 2200 + 5700 + 520 - 350 - 107 - 6200 + 520 - 383 = 1900
Liabilities:
Accounts Payable 5700 - 350 - 5350 = 0
Common Stock 7700 = 7700
Explanation:
Redd Company has incurred multiple transactions which will require adjustments before financial statements are prepared. These transaction will have effects on both sides of the accounts assets and liabilities. Common stock is not affected by the transactions as this is equity section.
Today is also the day on which your manager’s boss is collecting information about your manager’s leadership style so that they can give him a 360-degree appraisal. They assure you that your comments about your manager will remain confidential, but the nature of your thoughts is such that he probably would guess you are the person who made those comments. Specifically, you think that your manager takes offense easily, has a bad temper, and could be more effective in time management. Would you share your thoughts with your manager’s manager?
Answers
The decision to share feedback about a manager should be based on a careful evaluation of the potential impact and one's own personal values and goals.
Sharing negative feedback about a manager can be a delicate situation, especially when it may affect the manager's performance review and future career opportunities. Before deciding whether to share the thoughts with the manager's manager, it is important to consider the potential consequences and benefits of doing so.
If the feedback is constructive and could help the manager improve their leadership skills, it may be worth sharing with the manager's manager in a tactful and respectful manner. However, if the feedback is solely based on personal opinions and could harm the manager's reputation or career prospects, it may be best to keep those thoughts to oneself.
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i am meeting my new team, which I will directly supervise for the first time. I introduce myself and jump right into the agenda items for the jobs each team member will be assigned. I am using ______.
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Click this link to view O*NET's Work Activities section for Special Education Teachers. Note that common activities are listed toward the top, and less common activities are listed toward the bottom. According to O*NET, what are common work activities performed by Special Education Teachers? Check all that apply. O establishing and maintaining interpersonal relationships o operating vehicles, mechanized devices, or equipment documenting/recording information o evaluating information to determine compliance with standards communicating with supervisors, peers, or subordinates repairing and maintaining equipment
Answers
Answer:
a,c,d on edge
Explanation:
Common work activities performed by Special Education Teachers, as per general expectations of their role, include Establishing and maintaining interpersonal relationships: Special Education Teachers often work closely with students, parents, and other education professionals to build positive and effective relationships to support the learning and development of students with special needs.
Documenting/recording information: Special Education Teachers regularly document students' progress, behavior, and any other relevant information to track their development and create individualized education plans.
Evaluating information to determine compliance with standards: They assess students' performance and progress to ensure that they are meeting educational standards and make necessary adjustments to teaching methods if required.
Communicating with supervisors, peers, or subordinates: Special Education Teachers collaborate with school administrators, fellow teachers, and support staff to coordinate efforts and optimize educational outcomes for students with special needs.
Please note that this information is based on the general duties and responsibilities of Special Education Teachers and may vary depending on the specific educational institution and location. For the most up-to-date and comprehensive information, it's best to refer to O*NET's Work Activities section for Special Education Teachers.
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Select the correct answer.
On May 30, 2015, XYZee Inc. paid a dividend of $10,000 to its shareholders. How will this transaction be recorded in the journal of the corporation?
A.
Cash Account (Debit) $10,000 Dividend Account (Credit) $10,000
B.
Dividend Account Debit) $10,000 Cash Account (Credit) $10,000
C.
Common Stock Account (Debit) $10,000 Cash Account Credit) $10,000
D.
Cash Account (Debit) $10,000 Common Stock Account (Credit) $10,0000
Answers
Answer:
answer is b
Explanation:
In a manufacturing company, which budget is used as the basis for creating the direct materials budget, the direct labor budget, and the manufacturing overhead budget?
Answers
In a manufacturing company, the budget which is used as the basis for creating the direct materials budget, the direct labor budget, and the manufacturing overhead budget is the Production budget.
The materials budget is used to plan how many raw materials we will need to have on the side in order to meet our production targets. This budget is prepared in the same manner as the production budget, as the company must decide how much raw materials inventory to keep on hand at the end of each quarter.
The direct labor budget is basic. Firstly, we need to know how many units are needed from the production budget. Then, we need to know how many direct labor hours are required to complete one unit, as well as the cost per labor hour.
The manufacturing overhead budget is the final budget for manufacturing. It is developed in accordance with how the company allocates overhead.
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Describe 2 types of free trade barriers by giving a suitable example for each
Answers
2 types of free trade barriers are subsidies and standardization.
Subsidies eg: agriculture, electric cars, green energy, oil.
Standardization eg: generally accepted accounting principles (GAAP).
What are trade barriers?
The government imposes trade limitations on global trade. The theory of comparative advantage claims that trade restrictions harm the global economy and reduce overall economic efficiency. A government-imposed restriction on the movement of commodities or services across borders is known as a trade barrier. These limitations are sometimes overt, but they are primarily covert and undetectable. The government erects trade barriers to prevent foreign influence from harming domestic trade. Trade restrictions are put in place to safeguard domestic jobs. They contribute to reducing trade deficits. They protect emerging sectors and guard against dumping. Trade barriers are limitations placed on the free movement of commerce.
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b. Suppose that while Melissa was on the coast, she also spent two days sightseeing the national parks in the area. To do the sightseeing, she paid $1,560 for transportation, $1,295 for lodging, and $430 for meals during this part of her trip, which she considers personal in nature. What amount of the total costs can Melissa deduct as business expenses
Answers
Answer: $0
Explanation:
Melissa can only deduct business expenses i.e. expenses relating to a business purpose for travelling such as to complete a deal or attend a business conference.
Melissa does not get to deduct expenses for personal leisure activities. All the expenses listed above relate to her sightseeing of the national parks and are therefore personal leisure expenses that cannot be deducted as business expenses.
What are the differences between first-generation OD and second-generation OD? What are the major changes between these two generations of OD practice? What do you think have been the losses or gains in the second generation of OD practice?
Answers
The main difference between the two generations of OD is that the first generation focuses on individual development, while the second generation focuses on the development of the entire organization.
1st generation:
We focus on personal growth through T Group. Management Practices and Employee Participation.
- Behavioral surveys, survey feedback and sociotechnical systems.
Second generation:
It highlighted larger system-wide concerns such as culture, change management, and organizational development. I think there are some gains and losses. OD is not a one-size-fits-all approach. Different organizations therefore require different approaches. It is a win in the sense that they are new and improved because there are new experiences and research programs and scholars build on previous practices.
But it's a loss. Perhaps his OD practices in the 1st gen work best for a particular company, but are overlooked or heavily altered for the 'benefits' of the 2nd gen and never tried. because they won't try. In defining these groups, “first generation” refers to foreign-born individuals who have at least one foreign-born parent. People born in the Netherlands from at least one of their foreign-born parents belong to the 'second generation' (CBS, 2000).
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At the end of the car model year, what source of financing for a new car would probably have the best terms? Select only one answer.
1.) a collateral loan from a bank
2.) a collateral loan from the car company
3.) a home equity loan
4.) revolving credit line
Answers
The source of financing for a new car would probably have the best terms is a collateral loan from a bank. Thus, option first is correct.
Why do lenders ask for collateral while lending?Collateral is an asset or kind of tangible wealth owned by the borrower, such as a home, cattle, or automobile. Banks make loans to borrowers on the basis of these assets. The collateral acts as a kind of security for the lender.
Banks are one of the most common forms of automobile finance, with around 40% of all car purchasers obtaining a loan from them. Because each bank analyzes risk differently, interest rates might vary significantly.
A bank collateral loan would most likely offer the finest conditions for financing a new automobile. As a result, option one is correct.
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a document format is : ap3x
A. a small mark at the end of each line of a type character
B. a complete set of letters, numbers, and symbols having the same style
C. the shape, size, design, and arrangement of its physical elements
D. alignment of a block of text from top to bottom on the left, right, or both
Answers
Answer:is D
Explanation:
The shape,size,design,and arrangement of its physical elements
Suppose the real risk-free rate and inflation rate are expected to remain at their current levels throughout the foreseeable future. Consider all factors that affect the yield curvc Then identify which of the following shapes that the U.S. Treasury yield curve can take Cheek all that apply. Identify whether each of the following statement:, is true or false If Inflation Is expected to decrease in the future and the rcol rate is expected to remain steady, then the Treasury yield curvc is downward sloping. The default risk on Walmart's short-term debt will be higher than the default risk on its long-term debt. The yield curve for a AA-rated corporate bond Is expected to be above the U.S. Treasury bond yield curve. Yield curves of highly liquid assets will be lower than yield curves of relatively illiquid assets.
Answers
Based on the information provided, the U.S. Treasury yield curve can take the following shapes: Normal Yield Curve, Flat Yield Curve, Inverted Yield Curve.
The default risk on Walmart's short-term debt will be higher than the default risk on its long-term debt- True
The yield curve for a AA-rated corporate bond Is expected to be above the U.S. Treasury bond yield curve- True
Normal Yield Curve: This is the most common shape for the yield curve, where longer-term yields are higher than shorter-term yields. This shape typically indicates that investors expect the economy to grow at a moderate rate and that inflation expectations are stable.
Flat Yield Curve: This shape indicates that yields for different maturities are roughly the same. A flat yield curve typically suggests that investors have a neutral outlook on the economy and inflation.
Inverted Yield Curve: This shape occurs when short-term yields are higher than long-term yields. An inverted yield curve is often seen as a warning sign of an impending economic recession, as it suggests that investors expect short-term interest rates to fall in the future.
As for the given statements:
False: If inflation is expected to decrease in the future and the real risk-free rate is expected to remain steady, then the Treasury yield curve is likely to be upward-sloping. This is because investors will demand a higher yield for longer-term investments to compensate for the expected decrease in inflation.
True: Generally, short-term debt is considered riskier than long-term debt due to its shorter duration and higher sensitivity to changes in interest rates. Therefore, the default risk on Walmart's short-term debt is likely to be higher than the default risk on its long-term debt.
True: AA-rated corporate bonds typically offer higher yields than U.S. Treasury bonds to compensate for the higher default risk associated with corporate debt. Therefore, the yield curve for a AA-rated corporate bond is expected to be above the U.S. Treasury bond yield curve.
False: Highly liquid assets, such as U.S. Treasury bonds, tend to have lower yields than relatively illiquid assets, such as corporate bonds or emerging market debt. This is because investors are willing to accept lower yields in exchange for the safety and liquidity of these assets.
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The Clean Water State Revolving Fund (CWSRF) in 1987, a low-interest loan program intended for states replaced the Construction Grants program.
True
False
Answers
Answer:
True
Explanation:
Why should a global marketing manager consult local attorneys in other countries before creating a marketing campaign abroad?
Answers
Answer:
ok answer is c
Explanation:
i did this today and got a 100%
Your coin collection contains 95 1952 silver dollars. If your grandparents purchased them for their face value when they were new, how much will your collection be worth when you retire in 2060, assuming they appreciate at an annual rate of 4.9 percent
Answers
Answer:
FV= $16,652.38
Explanation:
Giving the following information:
Your coin collection contains 95 1952 silver dollars.
Number of years= 2060 - 1952= 108
They appreciate at an annual rate of 4.9 percent.
To calculate the future value of the coins, we need to use the following formula:
FV= PV*(1+i)^n
FV= 95*(1.049^108)
FV= $16,652.38
Will give brainliest Please help me and write an outline for my alternate answer at the end of this assignment ( btw a shul is a synagogue)
Answers
Explanation:
Sorry about this but problem are not very clear
A company just paid a dividend of $1.75, and those dividends are expected to grow at a constant rate of 5.5% forever. The stock price of this company is $74.58, what is the stock's expected dividend yield?
Answers
Answer:
2.48%
Explanation:
Dividend yield = Expected annual dividend / Price today
Dividend yield = $1.75 * 105.5% / $74.58
Dividend yield = $1.84625 / $74.58
Dividend yield = 0.0247553
Dividend yield = 2.48%
So, the stock's expected dividend yield is 2.48%.
Question 7 of 10
If you borrow $2,000 at 5 percent simple interest, how much will you owe
after one year?
A. You will owe 5 percent of the principal only.
OB. You will owe the principal of $2,000 only.
C. You will owe the principal of $2,000 plus 5 percent of the principal.
D. You will owe the principal of $2,000 minus 5 percent of the
principal.
Answers
You will owe the principal of $2,000 plus 5 percent of the principal.The correct answer to this question is C.
Simple interest is calculated by multiplying the principal by the interest rate and the time period. In this case, the principal is $2,000 and the interest rate is 5 percent. After one year, the interest accrued would be $100 (5% of $2,000).
Therefore, the total amount owed after one year would be $2,100 ($2,000 principal + $100 interest). It is important to note that simple interest is calculated only on the principal amount borrowed, and not on any interest that has already accrued.
Additionally, the interest rate is usually expressed as an annual rate, so it is important to adjust the time period accordingly if the loan term is less than one year. The correct answer to this question is C.
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St. Augustine Corporation originally budgeted for $360,000 of fixed overhead at 100% of normal production capacity. Production was budgeted to be 12,000 units. The standard hours for production were 5 hours per unit. The variable overhead rate was $3 per hour. Actual fixed overhead was $360,000, and actual variable overhead was $170,000. Actual production was 11,700 units. The fixed factory overhead volume variance is a.$5,500 favorable b.$9,000 unfavorable c.$5,500 unfavorable d.$9,000 favorable
Answers
Answer:
YOUUUU TOOOOOO!!!!!!!!!!!!!!!!
Explanation:
Hi this man I was wondering if you had any time today I have a good morning sleep today and I’m just gonna be watching a movie for
An HR software sales rep is talking to a prospect for the first time about a premium software package. At the beginning of the call, the prospect ask,"How will your product help my business? " What should the rep do first?
Answers
The rep should first highlight the problems that the prospects is faced with and the solutions that the software will provide.
Who is a Sales Rep?A sales rep is basically a person hired by a firm to present what the firm does, they speak/preach what solution the company provides.
In other words, the sales rep is a manager of the company's brand and products.
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The relationships between the dependent variables and the independent variables used in causal forecasting methods are described by two measures. What following best describes these measures?
Answers
Answer:
Coefficient of Chaos and Coefficient of Exponential smoothing.
Explanation:
Coefficient of exponential smoothing is the measure to smoothly run the timeseries data without using moving average data. It helps the identification of relationship between dependent and independent variables. It is same as regression model technique which determines the extent of dependence of the two variables.
is it right to kick someone out just because they are not on the lease and or had been evicted in the past?
Answers
October 2010, the amount of money held by individuals and companies was $893.4 billion; checkable deposits owned by the same individuals and companies were $345.6 billion; money market funds were $1.9423 trillion; savings deposits were $989.4 billion, finally, time deposits were $243.8 billion.
What is the M1 for October 2010?
Answers
Answer:
M1 $1.24 trillion
M2 $4.41 trillion
M1 and M2 money have several definitions, ranging from narrow to broad. M1 = coins and currency in circulation + checkable (demand) deposit + traveler's checks. M2 = M1 + savings deposits + money market funds + certificates of deposit + other time deposits.
1. Critical thinking requires setting high standards for yourself. True or false
Answers
Answer:
True
Explanation:
Which of the following is likely to increase the value of a country's currency?
Answers
Higher interest rates in a country can increase the value of that country's currency relative to nations offering lower interest rates. Political and economic stability and the demand for a country's goods and services are also prime factors in currency valuation.