Assuming the use of a two-column (all-purpose) general journal, a revenue journal, and a cash receipts journal, indicate the journal in which each of the following transactions should be recorded: Pick the correct journal from the list.a. Receipt of cash refund from overpayment of taxes.
b. Adjustment to record accrued salaries at the end of the year.
c. Providing services on account.
d. Investment of additional cash in the business by the owner.
e. Receipt of cash on account from a customer.
f. Receipt of cash for rent.
g. Receipt of cash from sale of office equipment.
h. Sale of used office equipment on account, at cost, to a neighboring business.
i. Closing of drawing account at the end of the year.
j. Providing services for cash.

Answers

Answer 1

Answer:

To pick the correct journal from the list we should be sure that we will record some transactions in more than one journal.

Explanation:

The combinations are below:

A. Receipt of cash refund from over payment of taxes. (Cash Journal)

B. Adjustment to record accrued salaries at the end of the year (General journal)

C. Providing services on account (Revenue Journal)

D. Investment of additional cash in business by the owner (Cash, General Journal) (The transaction will be recorded in both cash and capital accounts but instead of the capital, we put it in the General Journal to be transferred later)

E. Receipt of cash on account from customer (Cash Journal)

F. Receipt of cash for rent ( Cash, General Journal) (The transaction will be recorded in both cash and rent account but for the journal we put the rent part in the General journal)

G. Receipt of cash from sale of office equipment (Cash, General Journal) (An office equipment is assumed to be a fixed asset, thus its sale will not go into the revenue journal but the General Journal whiles the cash receipt is treated in the Cash Receipts Journal)

H. Sale of used office equipment on account, at cost to a neighbor (General Journal)

I. Closing of drawing account at the end of the year (General Journal) (The question did not specify whether is was goods withdrawn or cash withdrawn so we assume it to be goods withdrawn)

J. Providing services for cash (Revenue, Cash Receipts Journal)

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Which of the following is an external factor that helps create the business cycle?A. Bad weather
B. Psychological factors
C. Consumer spending
D. Government spending

Answers

The answer is Consumer spending is the very important factor that helps create the business cycle. In a business, the money that comes back to them depends on the consumer, if a lot of people are fond of their product, well more money will come back and vise versa.

The common stock of Auto Deliveries sells for $28.16 a share. The stock is expected to pay $1.35 per share next year when the annual dividend is distributed. The firm has established a pattern of increasing its dividends by 3 percent annually and expects to continue doing so. What is the market rate of return on this stock

Answers

Answer:

Market rate of return is 7.79%

Explanation:

The market rate of return on the stock can be computed using the market price of the stock , which is given below:

share market price =D1/(Expected market return-Dividend growth rate)

share market price is $28.16

D1 is the expected dividend next year which is given by $1.35

expected market return is the unknown

dividend growth rate is 3%

$28.16=$1.35/expected market return-3%

let y be the expected market return

$28.16=$1.35/y-3%

by cross multiplication the equation becomes

$28.16*(y-3%)=$1.35

y-3%=$1.35/$28.16

y=($1.35/$28.16)+3%

y=7.79%

Answer:

7.794%

Explanation:

We can use the Gordon growth model to determine the price of the stock:

current stock price = next year's dividend / (market rate of return - growth rate)

$28.16 = $1.35 / (market rate - 3%)

market rate - 3% = $1.35 / $28.16 = 4.794%

market rate = 4.794 + 3% = 7.794%

*the market rate of return is equal to the required rate of return (RRR)

You earn 420 per week. You pay social security taxes of 7.65% federal taxes of 22% and state taxes of 5.95% What is your take home pay?

Answers

Security taxes = 7.65% of 420 = 0.0765 x 420 = 32.13. Federal taxes = 22% of 420 = 0.22 x 420 = 92.40 and state taxes = 5.95% of 420 = 0.0595 x 420 = 24.99. Total amount deducted for taxes = 32.13 + 92.40 + 24.99 = 149.52. Take home pay = earnings - deductions = 420 - 149.52 = 270.48
Hope this helps. Let me know if you need additional help!

• What is value chain analysis?

Answers

A value chain analysis is the process of identifying the primary and support activities that add value to a product and seek ways to reduce costs or increase differentiation. It is a strategy tool used to analyze the firm’s activities. This will help the firm identify which activities are more valuable and which activities can be improved to gain competitive advantage.

Layoffs are predictable. true or false

Answers

That statement is True.

If you see the company's financial performances, you can easily predict whether a company would expand or cut off their employees. Poor financial performance always directly connected to emloyees' layoff

The correct answer is false.

Ava obtains a short-term loan from a payday loan lender. When the loan is due, Ava does not have enough money to pay the loan. She uses her credit card to pay it off rather than extend the payday loan. Will Ava's actions increase the total cost of the loan more than just extending the loan? Why or why not?No, because she will not have to pay any interest on her credit card.

No, because the interest charged by her credit card will be less than the interest charged by the payday lender.

Yes, because payday loans do not charge extra fees or interest to extend a loan.

Yes, because the interest charged by the payday lender is less than the interest rate of her credit card.

Answers

No, because the interest charged by her credit card will be less than the interest charged by the payday lender.

Usually, the amount given to you by the payday lender is already net of interest. So, if you applied for a loan of $100, you will be given an amount less than $100 but you still have to pay for $100. The interest of the loan have already been taken by the payday lender.

Because of the short span of time the payday lender has, it charges a higher interest than that of a credit card. You only pay interest on your credit card when you have an outstanding balance at the end of the monthly cut-off. If you pay off the total outstanding amount within the cut-off, no interest will be charged.

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