This information relates to Bridgeport Real Estate Agency.
Oct. 1 Stockholders invest $33,380 in exchange for common stock of the corporation.
2 Hires an administrative assistant at an annual salary of $37,320.
3 Buys office furniture for $4,060, on account.
6 Sells a house and lot for E. C. Roads; commissions due from Roads, $10,630 (not paid by Roads at this time).
10 Receives cash of $240 as commission for acting as rental agent renting an apartment.
27 Pays $680 on account for the office furniture purchased on October 3.
30 Pays the administrative assistant $3,110 in salary for October.
Prepare the debit-credit analysis for each transaction. (If there is no transaction, then enter No Effect for the account and for the amount.)
Oct. 1 33,380
Debits No Effect
Debit Cash
Credits No Effect
Credit Common Stock
Debits No Effect
Debit No Effect 33380
Oct.2
Credits NOE
Oct. 3
Credit No Effect
Debits Increase Assets
Debit Equipment
Credits
Credit
Oct. 6 Debits
Debit
Credits
Credit
Oct. 10 Debits
Debit
Credits
Credit
Oct. 27 Debits
Debit
Credits
Credit
Oct 30 Debits
Debit
Credits
Credit

Answers

Answer 1

Answer:

Oct. 1

Dr Increase Assets

Dr Cash $33,380

Cr Increase stockholders'equity

Cr Common stock $29,100

Oct. 2

Dr No Effect

Dr No Effect $0

Cr No Effect

Cr No Effect $0

Oct. 3

Dr Increase Assets

Dr Office furniture $4,060

Cr Increase Liabilities

Cr Accounts payable $4,060

Oct. 6

Dr Increase Assets

Dr Accounts receivable $10,630

Cr Increase Revenues

Cr Service revenue $10,630

Oct. 10

Dr Increase Assets

Dr Cash $240

Cr Increase Revenues

Cr Service revenue $240

Oct. 27

Dr Decrease Liabilities

Dr Accounts payable $680

Cr Decrease Assets

Cr Cash $680

Oct. 30

Dr Increase Expenses

Dr Salaries and wages expense $3,110

Cr Decrease Assets

Cr Cash $3,110

Explanation:

Preparation of the debit-credit analysis for each transaction.

Oct. 1

Dr Increase Assets

Dr Cash $33,380

Cr Increase stockholders'equity

Cr Common stock $29,100

(Being To record common stock)

Oct. 2

Dr No Effect

Dr No Effect $0

Cr No Effect

Cr No Effect $0

Oct. 3

Dr Increase Assets

Dr Office furniture $4,060

Cr Increase Liabilities

Cr Accounts payable $4,060

( Being To record purchase of office furniture)

Oct. 6

Dr Increase Assets

Dr Accounts receivable $10,630

Cr Increase Revenues

Cr Service revenue $10,630

( Being To record service revenue)

Oct. 10

Dr Increase Assets

Dr Cash $240

Cr Increase Revenues

Cr Service revenue $240

(Being To record service revenue)

Oct. 27

Dr Decrease Liabilities

Dr Accounts payable $680

Cr Decrease Assets

Cr Cash $680

(Being To record payment of office furniture)

Oct. 30

Dr Increase Expenses

Dr Salaries and wages expense $3,110

Cr Decrease Assets

Cr Cash $3,110

(Being To record salaries expense)


Related Questions

is/are a good used as a medium of exchange that has intrinsic value in other uses. please choose the correct answer from the following choices, and then select the submit answer button. answer choices current u.s. dollar bills bank reserves fiat money commodity money

Answers

Commodity money is a good used as a medium of exchange that has intrinsic value in other uses. Option D.

Commodity-backed currency A medium of exchange without intrinsic value, whose ultimate value is guaranteed by a promise that it can be converted into a commodity of value. Fiat Currency: A currency that derives value solely from its official status as a means of payment.

Unlike commodity-based Intrinsic value such as gold coins and banknotes that can be exchanged for precious metals, fiat currency is fully backed by complete trust in the government that issued it. One reason is that governments are required to pay taxes on the legal tender issued. A token coin is a coin whose face value is greater than its commercial value.

Learn more about Intrinsic value here:- https://brainly.com/question/28342542

#SPJ4

Which of the following statements illustrates the principle of independence in
accounting?
A. An accountant should never disclose information to a third party
without consent.
B. An accountant should never promote information to clients that
may be false.
C. An accountant's decisions must be free of bias and free of conflict
of interest.
D. An accountant should never profess to have skills that he or she
does not have.

Answers

Answer:

The best answer here would be B.

Explanation:

The principle of independence in accounting is illustrated as An accountant should never promote information to clients that may be false. Thus the correct option is B.

What are the principles of accounting?

The regulations and standards that organizations and other bodies must respect while reporting financial data are known as accounting principles. By establishing standardized words and procedures for accountants, these regulations facilitate the analysis of financial data.

Providing clients with potentially misleading information is never appropriate for an accountant. Giving misleading information is a sign of a break in the integration of accounting standards, for which the accountant may face harsh punishment.

Therefore, option B is appropriate.

Learn more about the Principles of accountancy, here:

https://brainly.com/question/16874947

#SPJ2

Today is time t. Two zero coupon bonds both have a face value of 100 dollars, which means both bonds are expected to pay $100 at Maturity (time T). Bond A is liquid and is often traded by average institutional investors at zero transaction costs. Bond B is illiquid. Its total direct and indirect trading cost is $5 per trade (either buy or sell). Suppose an average-sized institutional trader who wants to own the two bonds will trade three times in either bond (i.e., first buy it at t, then sell it and buy it back again at some time between t and T). Interest rate for discounting future bond price is zero for both bonds. In other words, everyone in this market is not risk averse. What should be the average trader’s evaluation of the bond A and B price today?
A. 100,90
B. 100,100
C. 100,95
D. 100,85

Answers

Answer:

The correct answer is (D) 100,85

Explanation:

Solution:

Two zero coupon bonds both have a face value of = $100

Bond A is liquid and traded by average institutional investors at = 0 transaction costs

Bond B is liquid, with a trading cost of =$5

Now,

As the interest rate for discounting future price is zero, then the Bind price is represented as follows:

Bond price = face value - trading cost

Bond A price = 100 - 3*0 = 100

Bond B price = 100 - 3*5 = 85

Therefore, the average trader's evaluation of the bond A and bond B price today is = 100,85

The Income Summary account is closed to which of the following accounts?

A. Retained Earnings
B. Withdrawals
C. Expenses
D. Dividends

Answers

retained earnings im prtty sure I’m so sorry if I got it wrong

The Income Summary account is closed to Retained Earnings account. The correct option is A.

What is retained earnings?

Retained earnings are the total of a company's net income and net losses over all of its years of operation. Retained earnings are a component of stockholders' equity on the balance sheet.

On a balance sheet, retained earnings are not considered an asset. They are reported as a line item on the balance sheet's shareholder's equity section rather than the asset section.

While retained earnings can be reinvested as assets, they are not assets in and of themselves.

In businesses, the income summary is closed to the retained earnings account.

Only the income statement items are closed to the income summary. In the given situation, they include rent and supply expenses.

Thus, the correct option is A.

For more details regarding retained earnings, visit:

https://brainly.com/question/14529006

#SPJ2

Please Help ASAP!

2. Identify at least three factors that may influence Eric's decision, including Eric's savings and any ways he could reduce the total cost of the loan.

Answers

The three factors that influence Eric's decisions are the lowest rate of return along with the shorter duration of time.

What is Loan?

A Loan is referred to as the amount which an individual borrows from a financial institution at a certain rate of interest to start any business or to fulfill their needs.

When Applying for any loan it is important to conduct research about the rate of return which helps in saving a large rate of income for an individual.

While making a decision for a loan, it should be determined which financial institution provides maximum facility on any Loan in order to repay it timely and reduce the burden on an individual.

Learn more about Loan, here:

https://brainly.com/question/28894685

#SPJ1

rates. The table below gives statistics for Argentina in a recent year.

Nominal GDP growth rate GDP deflator growth rate Population growth rate
8.6% 7.1% 1.1%

What was the rate of economic growth for Argentina?
0.4
% (Round your answer to the nearest tenth.)

Part 2 (1 point)See Hint
If Argentina continues to grow at its current rate of economic growth, how long will it take to double the level of per capita real GDP? Round your answer to the nearest tenth.

0
years

Answers

The entire value of all products and services produced over a specific time period, often quarterly or yearly, is known as nominal GDP. Real GDP is nominal GDP that has been inflation-adjusted. Real GDP is used to assess the growth in output as it actually occurs, free from the impacts of inflation.

What is the formula for nominal GDP deflator?

(Nominal GDP minus Real GDP) / 100 is the GDP deflator.

Nominal GDP is the total dollar worth of all goods and services produced during a given period of time, often quarterly or yearly. The nominal GDP that has been corrected for inflation is the real GDP. Real GDP is used to measure economic growth in real time, unaffected by inflationary effects.

Take the current number and subtract it from the prior value to determine the growth rate. The growth rate is then expressed as a percentage by multiplying the difference by the previous number and dividing by 100.

After growing by 3.2 percent in the third quarter, real gross domestic product (GDP) expanded at an annual pace of 2.6 percent in the fourth quarter of 2022.

Learn more about nominal GDP:

https://brainly.com/question/31134559

#SPJ1

What is the budgeted cost of goods sold given the following for next budget
period (in $'000)? Sales 5,000; Fixed manufacturing costs 2,000; Variable
manufacturing costs are 40% of sales revenue. Inventory levels are expected to
remain constant.

Answers

Answer:

what is this i don't know hope I will understand plz don't be angry

10. Which of the following best describes a trial balance?

Answers

I’m sorry I don’t see where it says the following

15 Points need ASAP Type the correct answer in the box. How is the supply curve of money different from other supply curves? The government's monetary and fiscal policies determine the supply of money. Therefore, the supply curve of money is vertical and *blank*

Answers

Answer:

The supply curve of money is different from other supply curves in that it is vertical and not influenced by changes in price. This is because the supply of money is determined by the monetary and fiscal policies of the government rather than by market forces. Therefore, the quantity of money supplied remains constant regardless of changes in interest rates or other economic factors.

what is asset-backed security? in your own words.​

Answers

Answer:

a debt obligation, like a loan or mortgages

Interventions strategies to reduce or prevent restrictions or barriers ​

Answers

Answer:

Intervention strategies to reduce restrictions or barriers can be implemented in various settings, such as healthcare, education, and workplaces, to promote accessibility and inclusivity. Some effective intervention strategies include:

1. Providing accommodations: Individuals with disabilities or other special needs may require specific accommodations to access certain environments or services. These accommodations can include physical modifications, assistive technology, or alternative communication methods. By providing these accommodations, restrictions and barriers can be reduced, allowing for greater participation and inclusion.

2. Educating stakeholders: Educating stakeholders, such as employers, educators, or healthcare providers, on disability awareness and inclusion can help to reduce biases and stereotypes that may contribute to restrictions and barriers. Training programs or workshops can help to increase understanding and empathy, ultimately leading to more inclusive practices.

3. Collaboration and consultation: Collaborating with individuals with disabilities or other stakeholders to identify and address barriers can be a powerful tool in reducing restrictions. By consulting those who are directly affected, solutions can be tailored to meet their specific needs, ultimately promoting greater accessibility and inclusion.

4. Policy and legislation: Policies and legislation that promote accessibility and inclusion can help to reduce restrictions and barriers on a systemic level. For example, the Americans with Disabilities Act (ADA) requires certain accommodations to be made in public spaces, promoting accessibility for individuals with disabilities.

Overall, implementing intervention strategies that reduce restrictions and barriers can help to promote greater accessibility and inclusion in various settings. By providing accommodations, educating stakeholders, collaborating with individuals with disabilities, and promoting policies and legislation, we can work towards creating a more inclusive and accessible society for all.

For more such questions on Intervention strategies

brainly.com/question/28332991

#SPJ11

Explanation:

The production of 0d submarines and 0a hospitals..
A) Increases the available resources
b) is productively efficient given the available resources
c) is productively impossible given the available resources
d) is productively ineffient given the available resources.

The production of 0d submarines and 0a hospitals..A) Increases the available resourcesb) is productively

Answers

The production of 0d submarines and 0a hospitals  is productively in effient given the available resources. The answer is OPTION D.

When a company isn't producing at its lowest possible cost per unit, it exhibits inefficient production. The average cost of production, or unit cost, is calculated by dividing all production costs by the quantity of units produced. An economy might produce a lot of boots with low manufacturing costs.

If they were all for the left foot, it would be allocatively inefficient because no one would profit from this. When a different resource allocation may boost output of any good by even one unit while maintaining the same level of other products, that resource allocation may be deemed inefficient.

To learn more about production, click here.

https://brainly.com/question/31859289

#SPJ1

Your older brother turned 35 today, & he is planning to save
GH¢7,000/year for retirement, with the first deposit to be made
one year from today. He will invest in a mutual fund that's
expected to provide a return of 7.5%/year. He plans to retire 30
years from today, when he turns 65, & he expects to live for 25
years after retirement, to age 90. Under these assumptions, how
much can he spend each year after he retires? His first
withdrawal will be made at the end of his first retirement year

Answers

The older brother will be able to spend an amount of GH¢64,932.21 each year for 25 years after retirement.

What is Formula for Future value of the annuity?

Future Value (FV) = P * ((1 + r)^n - 1/r)

FV = GH¢7,000 * (1+0.075)^{30} - 1/0.075]

FV = GH¢7,000 x (8.754955-1)/0.075

FV = GH¢7,000 x (7.754955/0.075)

FV = GH¢723,795.82

The amount of cash flow is derived and shows the current yearly savings will be available for him at the age of 65 and to be spent for the 25 years if he expects to live after retirement.

To determine the amount he is able to spend each year, we will copute that as follows:

PV = P x [1-(1+r)^{-n}/r] where PV= GH¢723,795.82, P= Expected periodic spending, R = 7.5%, n = 25 years

GH¢723,795.82 = P *  [1-(1+0.075)^{-25}/0.075]

GH¢723,795.82 = P * [(1-0.163979)/0.075]

GH¢723,795.82 = P * (0,836021 /0.075)

GH¢723,795.82 = P * 11.14695

P = GH¢723,795.82/11.14695

P = GH¢64,931.21

Therefore, the amount of GH¢64,932.21 will be spent each year for 25 years after retirement.

Read more about Future value

brainly.com/question/5303391

#SPJ1

what are some ways the financial crisis in 2008 could've been avoided

Answers

The financial crisis in 2008 could've been avoided in some ways by Regulating the housing market, Proper regulation banks and financial institutions, Introduction of better accounting standards, Encouraging greater transparency, and Regulating credit rating agencies.

The global financial crisis of 2008 was a significant economic event that had a far-reaching impact on the worldwide economy. The crisis resulted in the collapse of numerous leading financial institutions, which led to unprecedented losses in the stock market, a decline in economic growth, and high levels of unemployment. It is commonly believed that the crisis could have been avoided if appropriate measures had been taken at the right time.

Here are some ways the financial crisis in 2008 could have been avoided:

1. Regulating the housing market: The financial crisis of 2008 originated from the housing market collapse. Banks and financial institutions had given loans to people who could not afford them, and when the housing bubble burst, a massive number of mortgages went into default. If the government had regulated the housing market more effectively, the financial institutions would not have been able to give out loans to risky borrowers, and the housing market would not have collapsed.

2. Proper regulation of banks and financial institutions: If banks and financial institutions were regulated more effectively, they would not have been able to engage in risky financial practices that led to the crisis. Regulators would have spotted the risky activities early on and would have been able to take corrective action before it was too late.

3. Introduction of better accounting standards: During the financial crisis of 2008, banks and financial institutions engaged in creative accounting practices to hide their losses. This deception made it difficult to ascertain the real situation of the banks and financial institutions, leading to a lack of confidence in the market. If better accounting standards had been introduced, this could have been avoided.

4. Encouraging greater transparency: The financial crisis of 2008 was partly caused by a lack of transparency in the market. If regulators had encouraged greater transparency, there would have been more information available to investors, which could have led to greater confidence in the market.

5. Regulating credit rating agencies: Credit rating agencies played a significant role in the financial crisis of 2008. They gave high ratings to toxic financial products, which misled investors and led to the collapse of the market. If credit rating agencies were regulated more effectively, they would not have been able to give high ratings to risky products, and the market would have been more stable.

Know more about Financial crisis here:

https://brainly.com/question/32723220

#SPJ8

yes loloolololololoolloolololololololoolololololol

Answers

Answer:

yup the true maeningnof lol Is laugh aloud or lots of love depending on how it's used

On March 1, 2021, a corporation has published a Notice of Redemption, calling all of its 6 1/2% Debentures, maturing in 2031. The corporation plans to refund the issue with new bonds at a lower interest rate. A bondholder can:

Answers

Answer:

A bondholder can sell the bonds he is holding at the current market price.

Explanation:

When it occurs that bonds are called, there will  no longer be interest payments on the bonds called. A bondholders then has the option to either sell the bonds he is holding at the current market price or the bonds can be tendered to receive the call price.

In addition, it is also not possible to exchange the old bonds for the new refunding bonds. By implication, any investor that needs the new bonds needs to go and buy it in the market.

Based on the explanation above, it simply means that a bondholder can sell the bonds he is holding at the current market price.

..S11.16 Monczka-Trent Shipping is the logistics vendor for
Handfield Manufacturing Co. in Ohio. Handfield has daily ship-
ments of a power-steering pump from its Ohio plant to an auto
assembly line in Alabama. The value of the standard shipment is
$250,000. Monczka-Trent has two options: (1) its standard 2-day
shipment or (2) a subcontractor who will team drive overnight
with an effective delivery of one day. The extra driver costs $175.
Handfield's holding cost is 35% annually for this kind of inventory.
a) Which option is more economical?
b) What production issues are not included in the data presented?

Answers

1. The standard 2-day shipment is more economical

2. The impact of transportation time on production schedules, the availability of the power-steering pump at the Ohio plant, and the impact of any delays or disruptions in transportation are not discussed here

What option is more economical?

a) To determine which option is more economical, we need to calculate the total cost of each option, taking into account the cost of transportation and the holding cost of the inventory.

Option 1: Standard 2-day shipment

Transportation cost: Assuming the transportation cost for the standard 2-day shipment is $1,000, which is typical for a shipment of this value, the total cost would be:

$1,000 + (0.35/365 x $250,000 x 2) = $1,845.21

Option 2: Overnight team drive

Transportation cost: Assuming the transportation cost for the overnight team drive is $1,175 ($1,000 for the standard shipment plus $175 for the extra driver), the total cost would be:

$1,175 + (0.35/365 x $250,000 x 1) = $1,877.40

Therefore, the standard 2-day shipment is more economical with a total cost of $1,845.21, compared to the overnight team drive with a total cost of $1,877.40.

b) There are several production issues not included in the data presented, such as the impact of transportation time on production schedules, the availability of the power-steering pump at the Ohio plant, and the impact of any delays or disruptions in transportation on the assembly line in Alabama. These issues can affect the overall cost and efficiency of the production process and should be considered when making decisions about transportation and logistics.

Read more on logistics here:https://brainly.com/question/23177203

#SPJ1

define federal deposit insurance corporation.​

Answers

The federal deposit insurance corporation is an independent agency of the United States government that protects the funds depositors place in banks and savings associations. FDIC insurance covers all deposit accounts , including: checking accounts, savings accounts ,money market deposit accounts.

While on a call with an emotional customer, the credit card they provide to purchase your service is declined by your system. They become even more agitated and swear it has the necessary funds.



What would you do?

Advise the customer of the declined card and suggest they call back when they get things figured out so you can help them right away.
Advise the customer of the declined card and apologize for the issue then ask if they have another card or a family member that can assist with the payment.
Explain to the customer that their card was declined and ask them if they'd like you to try again using different card.

Answers

If hey become even more agitated and swear it has the necessary funds. What she should do is: B. Advise the customer of the declined card and apologize for the issue then ask if they have another card or a family member that can assist with the payment.

Who is a customer care officer?

A customer care officer  is someone whose customers calls to make inquiring from or a person that render help to customers.  A customer care officer have to responds to the needs of the customers, must equally develop rapport with the customers and must be friendly.

It is the duty of a good customer care to show empathy and to as well have a good listening skills as well as others customers care qualities.

Based on the given scenario what she should do is to Advise the customer of the declined card and apologize for the issue then ask if they have another card or a family member that can assist with the payment.

Therefore the correct option  is B.

Learn more about customer care officer here:https://brainly.com/question/27290910

#SPJ1

If the demand for meals at the Campus Café declines. This will result in...
What will happen to the equilibrium price,supply and quantity

Answers

Answer:The campus may have a surplus of cook food that will affect the schools budget

Explanation:

all this cook food will go to the garbage in not consumed anytime soon , the school board seeing this waste of food will probably reduced the food budget meaning less food for the students , and when the students start to eat again cafeteria food there will not be enough for everyone  

Shamrock Incorporated had 46,400, $2.50 preferred shares issued. It did not pay a dividend to the preferred shareholders in 2023 and
2024.

What are the dividends in arrears, if any, at December 31, 2024, if the shares are cumulative?

Answers

The dividends in arrears for Shamrock Incorporated at December 31, 2024, are $116,000.

Dividends in arrears are a way of measuring the amount of dividend payments that are owed to shareholders but have not been paid.

Dividends that have not been paid are known as dividends in arrears.

If the shares are cumulative, this means that the company must pay any missed dividends before paying common stockholders dividends.

If preferred stock dividends are cumulative, they must be paid in full before any dividends can be paid to common shareholders.

The dividends in arrears for Shamrock Incorporated at December 31, 2024, can be calculated using the following formula:

Dividends in arrears = (Number of preferred shares) x (Dividend rate) x (Number of years in arrears)

Number of preferred shares = 46,400

Dividend rate = $2.50 per share per year

Number of years in arrears = 1 year (since no dividend was paid in 2023)

Dividends in arrears = (46,400) x ($2.50) x (1)

Dividends in arrears = $116,000

Therefore, the dividends in arrears for Shamrock Incorporated at December 31, 2024, are $116,000.

For such more questions on dividends

https://brainly.com/question/2960815

#SPJ8

The Fowlers own a townhouse that they have been renting out for many years. It provides a steady source of income each month, but sometimes they have to do major repairs on it. What are some alternative investments the Fowlers could look into that would give this type of regular income stream? Give pros and cons for each along with your recommendation.

Answers

Answer:

Explanation:

There are a wide range of different types of investments that can be made. One of which are Dividend-paying Stocks. These are individual company stocks that payout dividend payments to the holders of their stocks. Usually, these payments are made quarterly throughout the year but is a steady way of making extra regular passive income, without the maintenance work. Even though the income is usually steady the price of the stock can fluctuate and either increase or decrease in price depending on many different factors.

Another investment idea would be to create a digital course. If you invest time and a little money into creating a video course with information that is valuable to individuals around the world. Then that course can generate passive income for years to come. There is always something that someone around the world wants to learn which makes these courses valuable and people are willing to pay for that. The pros to this are that it can generate income steadily and for a very long time with little to no maintenance, while the cons are that it does take time to create and even more time if you do not yet possess the required knowledge in that topic.

9-13. LinkedIn targets a specific demographic: working professionals. They tend to be older and better educated. Why might advertisers be more interested in this group over others?

Answers

Answer:

Explanation:

Theme 3: Education ... most engaged, and you can reach a professional ... people that are most relevant for your content goals and your business.

In which of these do homeowners own BOTH the home and the
land it sits on?

cooperative
timeshare
condominium
townhouse

Answers

Answer:

time share is the answer or townhous

You decide to decrease the price of your product to increase total sales revenue, because you believe your product's demand is

A) perfectly inelastic
B) unit elastic
C) price elastic
D) price inelastic

Answers

Answer:

C) price elastic.

Explanation:

Due to COVID-19, employers are concerned with how the work environment must change to ensure what?


Answers

Answer:

Explanation:

Due to COVID-19, employers are concerned with how the work environment must change to ensure the safety and health of their employees. This may involve implementing measures such as social distancing, providing personal protective equipment (PPE), increasing cleaning and disinfection procedures, and modifying work schedules or procedures to minimize close contact. The goal is to reduce the risk of transmission of the virus and create a safe and healthy workplace for employees.

Answer: Employee safety

Explanation: This is due, in large part, to how easily the virus is spread.

Due to COVID-19, employers are concerned with how the work environment must change to ensure what?

An increase in personal income tax will ________ the amount of money consumers have to spend for food. a. increase c. replace b. reduce d. not change

Answers

Answer

I think it is

Explanation:

who is sus? pink or blue im playing among us

Answers

Answer:

pink smh

Explanation:

Answer:

Its blue i have photographic evidence

Explanation:

who is sus? pink or blue im playing among us

Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each section of the statement,
SMART TOUCH LEARNING
Adjusted Trial Balance
December 31, 2016
Account Title
Debit Credit
Cash 19500
Accounts recievable 10800
Office Supplies 200
Prepaid Rent 13,000
Furniture 22,800
Accumulated Depreciation--Furniture 7800
Accounts Payable 2600
Salaries Payable 600
Interest Payable 300
Unearned Revenue 6,500
Notes Payable 9,100
Common Stock 12,700
Retained Earnings 13,000
Dividends 33,100
Service Revenue 59,100
Depreciation Expense-Furniture 2600
Interest Expense 300
Rent Expense 3900
Salaries Expense 4500
Supplies Expense 1000
Total 111,700 111,700
SMART TOUCH LEARNING
Income Statement
Month Ended December 31, 2016 Balance
Revenue
Service revenue 59100
ExpensesDepreciation Expense-Furniture 2600
Interest Expense 300
Rent Expense 3900
Salaries Expense 4500
Supplies Expense 1000
Total expense 12300
Net income 46800

Answers

Answer:

Retained earnings, December 31, 2016 = 26,700

Explanation:

The Statement of Retained Earnings can be prepared as follows:

                     SMART TOUCH LEARNING

                Statement of Retained Earnings

         For the month ended December 31, 2016

Details                                                                     Amount  

Retained earnings, December 01, 2016                 13,000

Net income for the month                                      46,800

Dividends                                                               (33,100)  

Retained earnings, December 31, 2016              26,700  

Note: No currency sign is used in the answer in order to avoid confusion because no currency is used in the question itself.

4. What was the closing price of the corporation on July 26th?

Answers

The closing price of a security, such as a stock or a commodity, is the final price at which it was traded on a particular trading day. The calculation of the closing price depends on the market in which the security is traded.

What is closing price?

If you have access to the historical data of the security, you can easily calculate the closing price by finding the last recorded price of the security on a given trading day. Many financial websites and data providers offer this information in their daily summary of a security's trading activity.

However, if you are looking to calculate the closing price in real-time, you can use a real-time data provider that offers the latest market quotes for the security you are interested in. The closing price is usually determined at the end of the trading day, which varies depending on the market and the security being traded.

In general, to calculate the closing price of a security, you need to find the last traded price of the security for the day. This information can be obtained from various sources, such as stock exchange websites, financial news websites, or real-time data providers. Once you have this information, you can use it to calculate the closing price of the security for that particular trading day. An overview was given.

Learn more about closing price on

https://brainly.com/question/30155035

#SPJ1

Other Questions
Can yall pls help me solve this? In the conceptual framework for financial reporting, what provides the why--the purpose of accounting?. 1.1 Analyse the strategy of your department organisation ( Analyse the vision, Mission, Strategic objectives)Compensation Fund STRATEGIC OVERVIEW1. VisionTo be a world class provider of sustainable compensation for occupational injuries and diseases, rehabilitationand reintegration services.2. Mission To provide efficient, quality, client-centric and accessible COID services. To sustain financial viability. To ensure an organisation which takes care of the needs of its staff for effective service delivery.3. ValuesWe shall adhere to the following values: Respect: We will treat our customers and colleagues with respect. Excellence: We execute our duties with dedication and fortitude. Sinobuntu: Treat each other and clients with dignity and care. Pride: We model highest standards of personal and professional behaviour. Integrity: Communicate openly and honestly with relationship based on trust. Client-centric by Providing excellent & world class service to all.4. Situational AnalysisThe situational analysis was done using the PESTEL Model. Based on the discussions of the situational analysisunder Sections 5 and 6 below, the following are major challenges affecting performance of the Fund:i. Weak internal control environment due to ICT system inefficiencies and skills levels;ii. Poor compliance levels by employers affecting collection levels and claims processing;iii. Inefficient business processes and operating model;iv. Fraud syndicates who prey on the inefficiencies of the Fund; andv. Inability to attract the requires skills and expertise.vi.The unexpected developments caused by the COVID pandemic has necessitated the need to change the APP for 2020 - 2021 as some of the approached and strategy may have to change.As remedial actions to the above challenges, the following key activities will be implemented during the MTSF period:i) The CF Action Plans currently being implemented to address the root causes of the inefficienciesand weaknesses in the control environment;i. The implementation of the CF Action Plan aimed at correcting findings and weaknesses identified bythe Assurance bodies (AGSA and Internal Audit);ii. The Strategic and Operational Risk Registers reviewed with mitigation actions being incorporated in activities and processes of the Fund; andiii. The Annual Operational Plans reviewed to ensure the performance environment is well managed and improved.1.2 Communicate the departmental strategy to your division (Sub Directorate)Sub directorate : Medical ClaimsPurpose : To manage the processing of medical claims and the administration of medical tariffs.1.3 Aligning your sub directorate with the departments strategy Carl was given 15% of his paycheck before Christmas if his paycheck was $545.19 how much did he receive before Christmas With four employees, every employee can perform any activity and more than one activity. under this setting, what would be the maximum number of loan applications the office can process per day? Exercise 1 Circle the number in front of each complex sentence.In 1841 Douglass became the editor of the North Star, an antislavery newspaper. And tell me why or explain why its the answer Police arrive on the scene of a suspicious death at 11:00 am. When the medical examiner arrives, he takes the rectal temperature of the corpse and finds that it is 89.4 F. Using the Glastier equation, calculate the approximate time of death. A dog shelter housed 24 puppies last month. This month, 39 puppies are at the shelter. What is the percent of change? HELP ASAP I NEED HELP DUE AT 7:00 The thickness of paper manufactured at a manufacturing company is roughly symmetrical with a mean of 0. 0039 inch and a standard deviation of about 0. 00001 inch. A marketing manager wants to divide the values of the thickness of paper by 0. 0001 to make the values easier to manage. What are the mean and standard deviation of the thickness of paper after dividing by 0. 0001?The mean is ?inch. The standard deviation is ?inch Highlight the descriptive details in the sentence. Kahlo awakened to find herself encased in a coffinlike plaster cast with only her head exposed. Frida Kahlo, Hedda Garza What do the details help readers understand about Kahlos condition? Kahlo had a cast covering most of her body. Kahlo had a cast fitted to her head. Kahlo had completely recovered by the time she woke up. Kahlo nearly died after the accident. From the balanced equation, what is the molar ratio of Al and alum in the reaction? 2 Al(s) + 2 KOH(aq) + 22 H20(1) + 4H2SO4 2 [KAI(SO4)2.12 H2O(s)] + 3H2(g) Evaluate x+y^2(2+x) if x=3 and y= -1 A race car accelerates uniformly from 18.5 m/s to 46.1 m/s in 2.47 seconds.Determine the acceleration of the car and the distance traveled. This example using cluster sampling, how do we know whether these estimates are considered valid? What time is it? 1:30 a.es la una y cuarto b. son las unas y medias c.es la una y media d. es la media menos una Write the following series in summation notation. 1, 4, 9, 16, 25, 36 The spinner is flicked twice. Find the probability that the spinner lands in gray for both spins Which Structure Is The Following True For? For _________, Arguments Are Substituted Exactly As Entered, Without Checking For Memory, Registers, Or Literals. a. Both Macros And Procedures b. Procedures c. Neither Macros Nor Procedures d. MacrosWhich structure is the following true for?For _________, arguments are substituted exactly asentered, without checking for