Susan Mitchell Law Firm purchases $1,000 worth of office equipment on account. This causes: A. Cash and Mitchell, Capital to decrease by $1,000 B. Office Equipment and Accounts Payable to increase by $1,000 C. Office Equipment to decrease and Accounts Payable to increase by $1,000 D. Accounts Payable to increase and Mitchell, Capital to decrease by $1,000
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- TB 02-79 Your company buys a $2 million warehouse pay... Your company buys a $2 million warehouse paying $300,000 in cash and issuing $1.7 million in promissory notes. This will be posted as: Multiple Choice O $2 million credited and $300,000 debited to assets; $1.7 million debited to liabilities. $2 million debited and $300,000 credited to assets; $1.7 million credited to liabilities. O $2 million credited to assets and $2 million debited to liabilities. $2 million debited to assets and $2 million credited to liabilities.Please provide correct answerThe law firm of solve this question general Accounting
- Thomas Company issues spok to new investors. $32.000. Required: What is the effect of this transaction on individual asset accounts, individual liability accounts, the Capital Stock account, and the Retained Earnings account? Check all that apply. Aa asset account ineases An aset ccou decases Alabilay account increases O A lahlity account decreases. Capital Stok increases. O Capital Sock decreases. Retained Earminggs increase ORetained Eamings decrease. Clear Undo Help Neat I dont knowGreen Valley Ltd. is a company that specializes in reforestation. The company has cash assets of $80,000 and liabilities of $30,000. Green Valley Ltd. pays off the $30,000 of debt. Green Valley Ltd. borrows another $30,000 and uses the money to buy baby trees. At this point the equity is A. $50,000.00 B. $80,000.00 C. The answer is not available from this list of choices D. $60,000.00 E. $90,000.00ABC Corporation sells $150,000 of accounts receivable to a factor, who charges a 4% service fee. Which of the following will not result from this transaction? O a. ABC's operating expenses will Increase by $6,000. O b. ABC's cash balance will increase by $144,000. O c. ABC's net revenues will decrease by $6,000. O d. ABC's net accounts receivable will decrease by $150,000. « » A Moving to another question will save this response. 12:01 PM pe here to search 5/5/2021 DELL F1 F2 F3 F4 F5 F6 FZ F8 F9 F10 F11 F12 PrtScr Insert Delete 188 @ $ & ) 2 3 4 5 7 8 9. Backspa W E R Y U
- can you please solve this8. A company pays one of its employees $800 per week. How much is the amount withheld from his pay for Social Security taxes? Group of answer choices A.$49.60 B.$11.60 C.$61.20 D.$34.52 9.Squeaky Clean laundromat purchased $6,000 worth of washing machines which are expected to last for 5 years, at which time they will have a trade-in value of $1,000. Calculate the annual depreciation using the straight line depreciation method. Group of answer choices A.$1,200 B.$1,150 C.$1,000 D.$950 10. On July 1, 2017, a company purchased a delivery van for $32,000. In five years, when they trade in the van, they will receive $3,000 toward the purchase of the next model. Using the straight-line method of depreciation, how much will they be allowed to depreciate during the first year? Group of answer choices A.$6,400 B.$5,800 C.$3,200 D.$2,900 ABC Company purchased a $65,000 piece of equipment which had an expected life of 10 years and a scrap value…Dear expert , please help me with working
- D1. AccountProblem 8.37 Cash Budget, Pro Forma Balance Sheet Objective 3 - Identify the components of the financial budget, and prepare a cash budget. Bernard Creighton is the controller for Creighton Hardware Store. In putting together the cash budget for the fourth quarter of the year, he has assembled the following data. a. Sales $100,000 July (actual) August (actual) September (estimated) October (estimated) 120,000 90,000 November (estimated) December (estimated) 100,000 135,000 150,000 b. Each month, 20 percent of sales are for cash, and 80 percent are on credit. The collection pattern for credit sales is 20 percent in the month of sale, 50 percent in the following month, and 30 percent in the second month following the sale. c. Each month, the ending inventory exactly equals 40 percent of the cost of next month's sales. The markup on goods is 33.33 percent of cost. d. Inventory purchases are paid for in the month following purchase. e. Recurring monthly expenses are as follows: Salaries…Your employer, Rubio LLC, is considering an investment in an office building that has the following cash flows: Purchase in Year 0…………… $ -2,750,000 Year 1………………. 220,000 Year 2……………….. 226,000 Year 3……………….. 250,000 Year 4………………… 255,000 Year 5 ………………… 230,000, and a sale @ $3,290,000 takes place EOY 5 The company’s weighted average cost of capital that they use as their discount rate for such calculations is 12% What would be the total cash flows in Year 5, taking into consideration the cash flows, annual debt service, sale price and the balance on the loan at the EOY 5? $1,662,985 $1,937,607 $1,802,986 $1,343,455 What is the leveraged IRR of the project ? 64% 58% 48% 55% In the above problem, you might expect The Yield to be higher than the discount rate because you sold the property at a profit. The NPV to be positive because the IRR is higher than the discount rate The NPV to be negative because the IRR is lower than the discount rate All of the…