Answer:
1a) The PPF for this economy would be a concave curve, as can be seen in the graph below. The PPF shows the maximum combinations of capital and consumer goods that can be produced in the economy. 1b) The PPF is concave because of the law of increasing opportunity cost. As more of one good is produced, the opportunity cost of producing the other good increases. 1c) The opportunity cost of moving from point B to point C is the loss of 1 unit of capital goods. 2a) An increase in housing prices would cause an upward shift in the demand curve for housing, as consumers would be willing to pay more for housing. 2b) A fall in interest rates would cause an outward shift in the demand curve for housing, as it would become cheaper to borrow money for housing. 2c) A rise in interest rates would cause an inward shift in the demand curve for housing, as it would become more expensive to borrow money for housing. 2d) A severe economic recession would cause an inward shift in the demand curve for housing, as people would have less money to spend on housing. 2e) A robust
Explanation:
can someone please help me with this question!!!
A U.S. business sells milk to consumers in France which situation would most likely cause demand for milk to rise in France?
A. A popular French nutrition author claims that milk is bad for people's health
B. French consumers expect the price of milk to increase in the future
C. the French population declines steadily due to years of economic problems
D. Cheese and other products made from milk become less popular in France
Answer:
option D
Explanation:
D. Cheese and other products made from milk become less popular in France. A situation that would most likely cause demand for milk to rise in France is French consumers expect the price of milk to increase in the future.
PLEASE HELP!!
Which situation would cause the price of a product to increase the most?
A. Both the demand and the supply fall.
B. The demand falls while the supply rises.
C. Both the demand and supply rise.
D. The demand rises while the supply falls.
Answer:
D
Explanation:
It's d since if the demand of more of something that they have little of would increase the price the most
Someone made 80000 and paid 12000 child care what is credit
Someone made 80000 and paid 12000 child care, the credit is 68000
What is credit?Generally, Credit is an agreement between a lender and a borrower in which the lender provides money, goods, or services to the borrower in exchange for a promise from the borrower to repay the lender in the future.
The loan can be secured with collateral, such as a house, or unsecured, such as a credit card.
Credit is used to purchase goods and services, pay for education, buy a home, or finance other large expenses.
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Which is the best example of the concept of event marketing
In at least 3 sentences for each, provide examples for how Ford Motor Company should market differently to Millennials
Ford Motor Company can market differently to Millennials in several ways, here are a few examples:
Focus on sustainability and environmentally friendly featuresEmphasize technology and connectivityUse social media and influencer marketingWhat is Ford Motor?Focus on sustainability and environmentally friendly features: Millennials are more environmentally conscious and want products that align with their values. Ford can market its electric and hybrid vehicles, as well as other sustainable features, to appeal to this demographic.
Emphasize technology and connectivity: Millennials are tech-savvy and highly connected, and they value cars with advanced technology and connectivity features. Ford can market its cars with features such as in-car entertainment systems, smartphone integration, and driver-assist technology to appeal to this group.
Lastly, the use social media and influencer marketing: Millennials are heavily influenced by social media and trust recommendations from friends and influencers. Ford can use social media and influencer marketing to showcase its cars, reach a larger audience, and drive engagement among this demographic.
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At presidential promise company, managers review a list of traits and place a check mark on the continuum
Performance reviews can assist organizations in determining how well employees carry out their job responsibilities and where workers can improve to more closely align with the organization's overall mission.
What are the objectives of performance appraisal?To put the right people in the right jobs, one must first determine the strengths and weaknesses of their employees. to keep up with and evaluate a person's potential for development. to give staff members feedback regarding their performance and related status. The employees' working habits can be influenced using this as a foundation.
A performance appraisal is a methodical, recurring process for evaluating a person's work output in comparison to the predetermined job requirements. It's a judgment of the employee's relative value to the company, strengths, and areas for improvement in the future.
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Although the ___________can promote a competitive and achievement-based culture, it can also undermine teamwork, decrease employees’ desire to help each other, and encourage an “everyone for himself or herself” attitude.
a. graphical scaling method
b. forced distribution method
c. management by objectives method
d. paired comparison method
A bell-shaped curve must be forced into the employee ratings in order for the forced distribution performance appraisal rating method to be used. Hence option B is correct .
What is forced distribution method ?See Managing Employee Performance for further details.
One technique of performance evaluation that "needs a predetermined percentage of employees be graded at varying levels of performance" is forced distribution, also known as forced ranking. (Robert Heneman) For instance, when ranking employees, it is assumed that 10% of them are the "most effective," and 80% are graded.
In order to evaluate an employee's performance, raters must choose between attributes that are equally good or negative. Last but not least, the forced distribution approach necessitates that a rater assign a predetermined percentage or quantity of workers to various performance categories.
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Compare the risk of fire with the risk of war in terms of how well they meet the requirements of an ideally insurable risk
In case of a loss due to fire, the quantum of loss can be determined and measured clearly. In the case of war losses, the measurement of losses is difficult.
What is the comparison of the risks of fire with the war in terms of an ideally insurable risk?The probability of a fire loss can be calculated using models and taking into account the variables likely to cause a fire. In the case of a war, the probability is very difficult to calculate. It is almost impossible. Premiums in the case of fire insurance are economically feasible. In the case of wars, considering the potential of large-scale destruction and losses, the premium would not be economically feasible. There are a large number of exposure units in the case of fire insurance as there are hundreds and thousands of homes and establishments that are protected through insurance.
In the case of war, it will not be possible to determine the number of wars that are likely to occur.
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Income Statement. Owner’s Equity Statement. Balance Sheet. Statement of Cash Flows. Each of these statements provides important financial information to both internal and external users. Choose two of the above-mentioned statements and identify how internal and external users can use the information from those statements to make decisions.
Managers and other employees who use financial information to confirm past results and make adjustments for future activities are examples of internal users. External users are those who use financial information outside of the organisation to make decisions or evaluate an entity's performance.
Who are internal and external users?Internal users are people who use financial information within a company. Owners, managers, and employees are examples of internal users. External users are people who use accounting information outside of the business entity (organisation).
Managers are the most frequent users of financial statements because they require the information to perform their duties. The statements can be used by owners to determine whether their investment is safe and whether the company is providing an acceptable return on their investment.
Therefore, internal and external users can use the information from income statements to make decisions.
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4) Mr. Arian opened Arian’s Carpet Cleaners on March 1, 2021. During March, the following transactions were completed.
Mar. 1: Invested Br. 35,000 cash in a share of a business.
Mar. 1: Purchased used Truck (equipment) for Br. 6,000, paying Br. 2,000 cash and the remaining balance on account.
Mar. 3: Purchased cleaning supplies for Br. 1,500 on account.
Mar. 5: Paid Br. 1,200 cash on one-year insurance policy effective March Mar. 14: Billed customers Br. 4,800 for cleaning services.
Mar. 18: Paid Br. 1.500 cash on amount owed on Truck and Br. 500 on amount owed on cleaning supplies.
Mar. 20: Paid Br. 7,000 cash for employee salaries.
Mar. 21: Collected Br. 3,800 cash from customers billed on Mar. 28: Billed customers Br. 2,500 for cleaning services.
Mar. 31: Paid advertising expenses of Br. 2000. Mar. 31: paid a dividend of Br. 3000.
Requirements:
1) Journalize the March transactions.
2) Prepare necessary Ledger Accounts.
3) Prepare a Trial Balance at March 31
4) Journalize the following adjustments and prepare an adjusted Trial Balance:
i. Earned but unbilled revenue at March 31 was Br. 1000.
ii. Depreciation on equipment for the month was Br. 200.
iii. One-twelfth of the insurance expired.
iv. An inventory count shows Br. 400 of cleaning supplies on hand
v. Accrued but unpaid employee salaries were Br. 700.
5) Prepare the worksheet
6) Prepare an income statement, a statement of owner’s equity, and a statement of financial position.
7) Maintain the necessary closing entry.
In order to document a business transaction in the accounting records of the company, a journal entry is employed.
What is Journal Entry ?A journal entry is often made in the general ledger, but it can also be made in a subsidiary ledger and subsequently rolled forward into the general ledger after being summarised. After then, the general ledger is utilised to produce the company's financial statements.
Every business transaction should be recorded in at least two places, according to the reasoning behind a journal entry (known as double entry accounting). For instance, when you make a cash sale, the revenue account and the cash account are both increased. Alternatively, if you purchase items on credit, this raises both the accounts payable and inventory accounts.
The required journal entries are as below-
Date Particulars Debit (Br.) Credit (Br.)
Mar. 1 Cash a/c 35,000
To Capital a/c 35,000
(To start a business with cash)
Mar. 1 Truck a/c 6,000
To Cash 2,000
To Notes payable 4,000
Mar. 3 Cleaning supplies a/c 1,500
To Accounts payable 1,500
(To purchase supplies on account)Account
Mar. 5 Insurance policy a/c 1,200
To Cash a/c 1,200
(To record the payment of insurance policy)
Mar. 14 Accounts receivable a/c 4,800
To Service revenue a/c 4,800
(To billed customers for services)
Mar. 18 Notes payable a/c 4,000
Accounts payable a/c 1,500
To Cash a/c 5,500
(Being cash paid to truck and cleaning service due amount)
Mar. 20 Salary a/c
To Cash 7,000
(To paid salary) 7,000
Mar. 21 Cash a/c 3,800
To Accounts receivable a.c 3,800
(To collect billed amount)
Mar. 28 Accounts receivable a/c 2,500
To Service revenue a/c 2,500
(To bill customers for services)
Mar. 31 Advertising expense a/c
To Cash a/c 2,000
(Being advertising expense paid) 2,000
Mar. 31 Dividends a/c 3,000
To Cash a/c 3,000
(Being dividend is paid)
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Assignment for Intermediate Financial Accounting One Identify the purpose of financial reporting. Describe the qualitative characteristics of accounting information. Identify the elements of financial statements. The following information is available for Inverness Ltd.'s second year in business: Opening merchandise inventory is Br 35,000. Goods are marked to sell at 35% above cost. 1. 2. 3. 4. ● ● • Merchandise purchased totaled Br 600,000. . Collections from customers are Br 420,000. Ending merchandise inventory is Br 225,000. Opening accounts receivable balance is $0. Ending accounts receivable balance is $85,000.
Financial reporting is the process of producing and presenting financial information that is useful to stakeholders in making economic decisions.
What is Financial reporting?The purpose of financial reporting is to provide transparency and accountability to stakeholders, enabling them to assess the financial performance and position of an entity and make informed decisions.
The qualitative characteristics of accounting information are the attributes that make it useful for decision-making. The most important characteristics are understandability, relevance, reliability, comparability, and consistency.
The elements of financial statements are the basic components used to prepare financial reports. The main elements are assets, liabilities, equity, revenues, and expenses.
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what first step did you take before answering the problem
The first step to take before you answer the problem is defining the problem.
How to answer a problem ?The first step in problem-solving is defining and understanding the problem. This involves gathering information, clarifying the issue, and identifying the root cause. Once the problem has been clearly defined, it becomes easier to develop potential solutions and find the best course of action.
Naturally, identifying the issue is the first step in solving a problem. If there isn't even an issue, how could you possibly solve it? The following phase is information collecting to learn more about the problem once it has been identified.
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Which is the following is an important consideration in setting up the proper environment to complete tasks on time
The important consideration in setting up the proper environment to complete tasks on time is to learn to establish priorities.
What is Consideration?A promisor may swap their promise for consideration in the form of a promise, performance, or forbearance.
Being on time or early for work can demonstrate your dependability and credibility as a worker. Being on time regularly can also demonstrate your professionalism, which will raise your value as an employee and help you develop in your career.
But doing multiple things at once and changing contexts make you slower. On the other side, single-tasking is more likely to put you in a state of Flow, which is the intense attention you experience when working on something challenging and significant.
Therefore, The important consideration is to learn to establish priorities.
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is important as someone can only accurately rate those aspects of a person’s work performance that they observe.
task assessment
task reviews
task information
task acquaintance
Task assessment is important as someone can only accurately rate those aspects of a person’s work performance that they observe.
How does task assessment help?Yes, it is important that someone can only accurately rate those aspects of a person's work performance that they observe. Task assessment, task reviews, and task information all rely on observation of the individual's performance in order to be effective.
This means that the person conducting the assessment, review, or gathering information should have direct and regular exposure to the individual's work in order to provide an accurate assessment of their performance.
Task acquaintance, or being familiar with the individual's work, is also important for accurate performance assessments, as it provides context and insight into the individual's abilities and responsibilities.
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An advertisement has been placed on your company’s and on major recruitment websites for a great opportunity to be employed as Country Manager at ABC insurance company in the UAE.
You read the job description and believe you are a fir for this position. You want to negotiate withthe General Manager, Dr David Smith, that you would like to excel and get promoted as the ‘Country Manager’, from your current position as the ‘Dubai’s Branch Manager’. This position will provide you with many opportunities such as a higher salary, more responsibilities, and utilizing more of your technical and leadership skills.
In addition, you have been working with the company since September 2015 as a full-time employee and have made enormous contributions to the organization. From your experience, you have also determined that Dr Smith is a ‘thinker’ personality type as per The Myers-Briggs Type Indicator. What would be your negotiation process?
Considering that General Manager Dr Smith has a "thinker" personality type to get a promotion, his negotiation process must be focused on details, analysis of the situation and the benefits.
What are the characteristics of the thinker personality type in MBTI?According to the Myers-Briggs Type Indicator approach, the thinker is the individual who seeks to explore theories in an analytical and detailed way, being an individual who uses logic and reason to determine his actions and behaviors.
Therefore, negotiating with an individual with a thinking personality should be focused on rationality and the exploration of possibilities and information, and the manager seeking a promotion should have all the details and information about such a situation for it to be successful.
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Laureen Maurer's salary a year ago was $52,000. If inflation during the year was 3.5 percent in Tampa where she lives, how much of a decline in her purchasing power occurred? Also what would be her purchasing power if a deflation of 1 percent occurred?
If a deflation of 1 percent occurred, then purchasing power would be = $51,480.
What is the purchasing power about?The decline in Laureen Maurer's purchasing power due to inflation of 3.5% can be calculated as follows:
$52,000 * 3.5% = $1,820
So, the decline in her purchasing power was $1,820.
To find out her purchasing power if there was a deflation of 1 percent, we need to calculate the decrease in salary:
$52,000 * 1% = $520
So, her purchasing power would be $52,000 - $520 = $51,480.
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A few years ago, in order to gain market share, DelRay™, a well-known learning management system software company used by many colleges and universities, joined forces with WEB Cast™, another learning management system software company. Both companies were in the same industry and originally competed against one another. In business, we would call the joining of these two firms a(n
In business, we would call the joining of these two firms a horizontal merger is the joining of two firms in the same industry, often producing very similar products or services. This strategic move is usually for the purchasing firm to increase its market share and competitive advantage.
What is business?Business is the practice of making one's living or making money by producing or buying and selling products. It is also any activity or enterprise entered into for profit. Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business.
If the business acquires debts, the creditors can go after the owner's possessions.
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José wants to buy a new large screen TV. The electronics store has a special on the model he wants and offers same-day delivery if he uses his store rewards card. An online retailer is offering the same model, and if he uses their credit card, he can get 10% off. Why might Jose have decided to buy from the electronics store when the same TV is available for less money from the online retailer?
A. The one from the online retailer was of higher quality.
B. José likes paying extra money.
C. He was worried that the TV would get lost in the mail.
D. He wants to get the rewards, and he did not want to open another credit card.
Answer:
1. If she decides to move, she will not have to deal with selling her home.
2. With each new lease, your rent can go up.
3. You are always driving a new car, which has the latest safety features.
4. It will charge him all the interest that would have accrued over the year.
5. He wants to get the rewards, and he did not want to open another credit card.
Explanation: I took the quick check
Jose have decided to buy from the electronics store when the same TV is available for less money from the online retailer because he wants to get the rewards, and he did not want to open another credit card.
What is retailer?
Retailer is a business that sells products directly to the customer. Retailers are part of a supply chain in which the products are purchased from manufacturers, wholesalers, or other suppliers and then sold to the end user. The retailer is responsible for the selection, pricing, promotion, and distribution of products to the customer. They also provide services such as customer service and store operations. Retailers also need to be aware of the changing customer needs and preferences, and adjust their product offerings accordingly. Retailers can be found in many formats, including physical stores, online stores, mobile stores, and even home-based businesses.
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Journalize the adjusting entry needed at December 31 for each of the following independent situation.
a. On October 1, we collected $6,000 rent in advance for a year.
b. Interest revenue of $800 has been earned but not yet received.
c. Salary expense is $1,500 per day and the business pays employees each Friday. Dec. 31 falls on a Wednesday.
d. The unadjusted balance of the supplies account is $3,100. Supplies on hand total $1,200.
e. Equipment was purchased last year at a cost of $10,000. The equipment's useful life is 4 years. Record the year's dep
f. On September 1, we prepaid $1,200 for a two year insurance policy.
(yearly basis)
The Rent Revenue will be 6,000, Unearned Rent Revenue will be 6,000, Interest Revenue will be 800 , Salary Expense will be 7,500, Supplies Expense will be 2,900, Depreciation Expense will be 2,500, Accumulated Depreciation will be 2,500 , Insurance Expense will be 600 and Prepaid Insurance will be 600.
What is Depreciation Expense?
Depreciation Expense is an accounting concept used to spread out the cost of an asset over its useful life. It is a non-cash expense that is used to reduce the value of a fixed asset on the balance sheet over its useful life. When an asset is acquired, the cost of the asset is spread out over the years that it is expected to be useful. This is done by charging a certain amount of the cost to the income statement each year as an expense, thus reducing the value of the asset on the balance sheet. Depreciation Expense is used to represent the decline in value of the asset due to its usage, wear and tear, and obsolescence.
So, These are the required answers.
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A Troubador is... *
O An English word for Trouble Maker
O A Buddhist Monk
O A traveling Sacred Musician
A traveling Seculary Musician
Answer:
A troubadour was a poet and musician of the Middle Ages who performed songs about chivalry and courtly love. Troubadours were mainly active in the courts of the Frankish nobility and played an important role in the development of vernacular literature in medieval Europe. Their songs were typically performed with a musical instrument, such as a lute or a harp, and helped to spread stories, news, and cultural values across the continent.
You have discovered that one of you closest friends at work has stolen a large sum of money from the company. Would you do nothing? Go directly to an executive to report the incident before talking about it with the offender? Confront the individual before taking action? Make contact with the individual with the goal of persuading that person to return the money?
Answer:I would recommend confronting the individual before taking any action. It is important to first discuss the issue with the offender to understand the situation and whether it was intentional and deliberate. If the offender is uncooperative or unwilling to return the money, then the next step would be to go directly to an executive to report the incident.
Explanation:
If someone rate all of the female managers lower than the male managers in leadership effectiveness because the rater believes that men are naturally better leaders than women, this is an example of
Compared to men, women typically exhibit more democratic and less autocratic approaches. Hence its a Example of Gender stereotypes .
What is Gender stereotypes ?Gender stereotypes are prescriptive ideas about how men and women "should" act and describe stereotypical beliefs about the characteristics of men and women.
Women are stereotyped with communal traits like care for others, sensitivity, warmth, helpfulness, and nurturing, whereas men are stereotyped with agentic traits like confidence, assertiveness, independence, rationality, and decisiveness .
The perception by some that women may be less effective than men in leadership positions despite the fact that they can be equally effective may have been influenced by gender stereotypes that portray women as warm, nurturing, and caring and the corresponding stereotypes of men as cold, competitive, and authoritarian.
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Delivering a Presentation Video Discussion
1. Create one powerpoint slide that lists 5 delivery tips from this lesson that you will apply to the upcoming presentation (provide page
numbers from the book and time markers from the video to support your response).30 points
A video presentation is a recording that includes multiple slides, audio, video narration, animation, and images in order to effectively convey specific information to an audience.
What is the main advantage of presentation?The ability to engage with your audience is the main benefit of any presentation. On the other hand, you must assume certain things about your audience when you are presenting information in a document.
As a narrative arc in comparison to other forms, storytelling is more deeply ingrained in our brains. Additionally, using video to engage viewers and tell stories The best storytellers are frequently the best communicators for a reason. A good story draws people in.
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A company’s sales team is getting together for a meeting. They need a place to gather where they can also stay overnight.
This scenario best describes
catering event sales
meeting room sales
group sales
convention and conference sales
This scenario best describes convention and conference sales. Hence, option D is correct.
What is conference sales?a gathering or series of gatherings when employees involved in marketing a company's goods are informed about new goods and services and debate how they can be marketed successfully: The yearly sales conference in Paris drew 400 attendees.
Large-scale gatherings called marketing conferences bring people from the same sector together to learn more about marketing. A number of marketing conferences can be held in person or electronically. Webinars are one of the various kinds of marketing conferences. Workshop.
Thus, option D is correct.
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Keisha took the report her colleague had written, changed the author's name to her own, and presented it to the company's chief executive. Keisha's human resources director found out what she did and told Keisha she wanted to talk to her about an ethical violation she committed. What is the director most likely going to say to Keisha?
Question 1 options:
You shared a trade secret without permission.
You plagiarized someone else's work.
You used website analytics illegally.
You posted inappropriate comments.
Answer:
B
Explanation:
Plagiarism is when someone lies about doing or making something they did not do. They take something from someone else and claim it is their own.
A firm’s operating cycle is never longer than its cash conversion cycle. True or false
A shorter operational cycle could result in a shorter cash cycle, but vice versa is also possible. As a result, it's critical that firms look at both of these cycles independently and together.
Firm’s operating cycle and its conversion cycleThe operating cycle does not take into account how long it takes to pay suppliers, in contrast to the cash flow cycle. Your cash flow cycle will be shorter as suppliers wait longer to get payment.
While a longer operational cycle may result in a longer cash cycle, a shorter operating cycle may lead to one. Therefore, it's crucial for businesses to examine both these cycles separately and collectively.
The amount of days that pass between the time you buy goods and the time customers pay for it is known as the operating cycle. The amount of days that pass between when you purchase merchandise and when you get payment from your clients for that inventory is known as the cash conversion cycle.
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$43.50+10% double their cost
The total cost would be $47.85.
Calculate the total costThe theory used in this question is the percentage increase/decrease theory.
This theory states that to calculate the percentage increase or decrease of a given number,
you must first multiply the number by the percentage (expressed as a decimal).
Then, you can add or subtract the result from the original number to calculate the new number.
In this case, we multiplied $43.50 by 0.10 to find the 10% increase. We then added that to the original number to find the total cost.
Explanation given below
1. Calculate the 10% of the cost:
$43.50 x 10% = $4.35
2. Add the 10% to the original cost:
$43.50 + $4.35 = $47.85
3. The total cost would be $47.85
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what does “facts” stand for when looking for a job
Families Acting for Community Traffic Safety, or FACTS, is an acronym. Students can create and carry out projects that promote wearing a seatbelt, driving while intoxicated, and other safe driving practices through this program.
Which best describes a fact?A verifiable statement is referred to as a fact. It can be demonstrated to be true or false using unbiased evidence. A statement that expresses a sentiment, attitude, value assessment, or conviction is referred to as an opinion. It's a statement that can't be proven to be true or false.
Fact is a derivative of the Latin factum. The same definition of "a thing is done or performed," which is no longer accurate, was first used in English. The phrase "something that has really happened or is the case" has been used frequently since the middle of the 16th century.
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Which is an example of a diversified portfolio?
A. A variety of stocks, bonds, and bank accounts
B. A variety of high-risk stocks
C. High-yield bonds and growth stocks
D. Multiple bank accounts with high interest
A variety of stocks, bonds, and bank accounts.
What Is Diversification?
A portfolio's investments are mixed together in a broad variety as part of the risk management approach known as diversification. To reduce exposure to any one asset or risk, a diversified portfolio combines a variety of different asset classes and investment vehicles.
This strategy is justified by the idea that a portfolio made up of many asset classes would, on average, produce superior long-term returns and reduce the risk of any one holding or security.
In order for the beneficial performance of certain assets to offset the bad performance of others, diversification aims to smooth out unsystematic risk occurrences in a portfolio. The benefits of diversity only apply if the assets in the portfolio are not fully linked; in other words, if they react to market factors differently, frequently in opposite directions.
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1) Nuru Meda Golf and Driving Range plc was opened on March 1 by Nuru. The following selected events and transactions occurred during March.
Mar. 1 Invested Br.120,000 cash in the business in exchange for ordinary shares.
3 Purchased Mechare Meda’s Golf Land for Br. 76,000 cash. The price consists of land Br. 20,000, building Br. 44,000, and equipment Br. 12,000. (Make one compound entry.)
5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of Br. 3,200.
6 Paid cash Br. 2,480 for a 1-year insurance policy.
10 Purchased golf equipment for Br.5,000 from Young Company, payable in 30 days.
18 Received golf fees of Br.2,400 in cash.
25 Declared and paid a Br.2,000 cash dividend. 30 Paid salaries and wages of Br.1,800.
30 Paid Young Company in full.
31 Received Br. 1,500 of fees in cash.
Snyder uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Share Capital—Ordinary, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense.
Instructions
● Journalize the March transactions.
Nuru Meda Golf and Driving Range plc were opened on March 1 by Nuru. The selected events and transactions occurred during March.
How can the events be made into compound entries?The following compound entry can be made to account for the events and transactions that occurred during March: Debit Credit Cash 120,000 Land 20,000 Buildings 44,000 Equipment 12,000 Accounts Payable 5,000 Share Capital—Ordinary 120,000 Dividends 2,000 Service Revenue 2,400 Advertising Expense 3,200 Prepaid Insurance 2,480 Salaries and Wages 1,800 Fees 1,500
This compound entry records the initial investment of cash into the business, the purchase of Mechare Meda’s Golf Land, the payment of advertising expenses, the purchase of golf equipment on credit, the receipt of golf fees in cash, and the declaration and payment of a cash dividend.
The payment of salaries and wages, and the receipt of fees in cash.
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