User Account

All Pages

Find what the balance of cash ledger account would be

Assignment Help Financial Accounting
Reference no: EM132829932

The information below relates to Almosa Real Estate Agency:

1st Oct: Stockholders invested $34,000 in exchange for common stock of the agency.

2nd Oct: Hires an administrative assistant who will start working from the 15th of November at an annual salary of $36,000.

3rd Oct: Buys equipment for $3,500 on account.

10th Oct: Receives $1400 in commission for acting as rental agent renting an apartment.

27th Oct: Pays $1,500 for the equipment purchased on October 3.

28th Oct: Pays the employees $3,000 in salaries for October.

30th Oct: Pays dividends of $3,000 to the stockholders .

Problem 1: From the transactions above, the balance of Cash ledger account would be:

a. 27,900

b. 28,900

c. 26,400

d. 28,400

e. 29,900

f. 26,900

g. The correct answer is not available

h. 25,900

i. 27,400

Reference no: EM132829932

Questions Cloud

How much gain does gamma corporation recognize as a result : How much gain does Gamma Corporation recognize as a result of this distribution? How much dividend income does Lisa recognize as a result of this distribution?
Compute descriptive statistics for variable : Compute descriptive statistics for this variable including a box and whisker plot. Comment on the results.
Describe the objective of the lesson or the training : Describe an educational situation where it would be appropriate to use a form of behaviorism. You can use an example from your own educational experience.
Case study-sdx alliance : SDX Alliance is a large company that sells computers, computer components, and software. Ralph is hired as an entry-level software engineer at SDX Alliance.
Find what the balance of cash ledger account would be : What the balance of Cash ledger account would be? 10th Oct: Receives $1400 in commission for acting as rental agent renting an apartment.
What is Activity Based Costing : What is Activity Based Costing - What is the definition? What are some key terms related to Activity Based Costing? What are some real-life examples
Describe aspect of the facility design deserves attention : The child care facility environment will influence child-child, child-adult, and child-material interactions. Every aspect of the facility's design deserves.
What is the amount of contingent asset : What is the amount of contingent asset that should be recognized in the statement of financial position as of December 31, 2020
Audience to buy or use your product or service : Presentation should be prepared using creativity to persuade your audience to buy or use your product or service.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Purpose a merchandise purchases budget

Purpose a merchandise purchases budget showing how many units should be purchased for each of the months April, May, and June.

  What price did pay for bond

Bond today and the current market rate of return is 8.90%. The bond is callable in four years With a $64 call premium. What price did you pay for your bond?

  What is the total amount that will be paid during the loan

What is the value of the payment that will occur in year 5? How much should the "ABC" Company pay to payoff the entire amount on July 1st, Year 8??

  Compute the cost of capital for the individual components

Compute the cost of capital for the individual components in the capital structure, and then calculate the weighted average cost of capital.

  Find what is the npv of a project for green landscaping inc

Find What is the NPV of a project if initial costs are $2,118,251 and the project life is estimated as 10 years? The project will produce same after-tax cash

  What amount should be reported as cash and cash equivalents

ASPE and follows a policy of including all possible items in cash and cash equivalent, what amount should be reported as cash and cash equivalents?

  How the relationship of the public accounting firm

How the relationship of the public accounting firm to Spacecraft differs from the relationship of the internal auditing staff to Spacecraft.

  Information be included on the bank reconciliation

A check of $75 deposited by a company was returned to the bank for nonsufficient funds. How would this information be included on the bank reconciliation?

  What increase in profit can be expected assuming total fixed

Brumlow Company has a contribution margin ratio of 25%. The company is considering a proposal that will increase sales by $100,000. What increase in profit can be expected assuming total fixed costs increase by $20,000?

  The return on equity for similar stocks

A stock has just paid a dividend and will pay a dividend of $3.00 in a year. The dividend will stay constant for the rest of time. The return on equity for similar stocks is 14%. What is P0?

  Find how much profit increases or decreases

If sales increase by $10,000 then their profit increases/decreases by how much? Stellar Company has the following sales, variable cost, and fixed cost.

  What is the maximum monthly contribution margin

Todd Corporation produces two products, P and Q. P sells for $7.50 per unit; - What is the maximum monthly contribution margin that Todd can generate under the circumstances?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd