Business, 26.10.2020 22:30 lesly0913

Robert has set-up a start-up business. You have been appointed as an accountant for his business. Prepare journal entries for the following transactions
1. On January 1, 2015, Robert invested $50,000 in his business.
2. On January 4, 2015, Robert bought a laptop for $2,800 for business use.
3. On January 20, 2015, Robert received $13,000 for services rendered.
4. On January 23, 2015, Robert paid salaries to his staff for $3,500

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 12:50

There is a small, family-owned store that sells food and household goods in a small town. the owners have good relations with the community, especially with local farmers who supply much of the food. the farmers aren't organized into a cooperative or union, and the store deals with each individually. suppose the store wanted to buy some farms to control the supply of certain vegetables. how would you classify this strategic move? select one: a. horizontal integration b. forward integration c. backward integration d. concentric integration

Answers: 2

Answer

Business, 22.06.2019 15:40

Rachel died in 2014 and her executor is finalizing her estate tax return. the executor has determined that rachel’s adjusted gross estate is $10,120,000 and that her estate is entitled to a charitable deduction in the amount of $500,000. using 2014 rates, calculate the estate tax liability for rachel’s estate.

Answers: 1

Answer

Business, 22.06.2019 22:40

In a fixed-term, level-payment reverse mortgage, sometimes called a reverse annuity mortgage, or ram, a lender agrees to pay the homeowner a monthly payment, or annuity, and expects to be repaid from the homeowner’s equity when he or she sells the home or obtains other financing to pay off the ram. consider a household that owns a $150,000 home free and clear of mortgage debt. the ram lender agrees to a $100,000 ram for 10 years at 6 percent. assume payments are made annually, at the beginning of each year to the homeowner. calculate the annual payment on the ram.

Answers: 1

Answer

Business, 22.06.2019 23:40

Gdp has grown in a country at 3% per year for the last 20 years. the labor force has grown at 2% per year and the quantity of physical capital has grown at 4% per year. a 1% increase in average physical capital per worker (other things equal) raises productivity by 0.3%. average education has not changed. how much has growing physical capital per worker contributed to productivity growth in this country? choose the correct answer from the following choices, and then select the submit answer button. answer choices 0.3% 0.6% 3.0% 6.0%

Answers: 1

Answer

You know the right answer?

Robert has set-up a start-up business. You have been appointed as an accountant for his business. Pr...

Questions