Business, 21.01.2021 21:50 mirmir62

E4-3 Recording Initial Transactions and Subsequent Adjustments [LO 4-1, LO 4-2] During the month of September, the Texas Go-Kart Company had the following business activities: On September 1, paid rent on the track facility for six months at a total cost of $7,800. On September 1, received $46,800 for season tickets for 12-month admission to the race track. On September 1, booked the race track for a private organization that will use the track one day per month for $1,900 each time, to be paid in the following month. The organization uses the track on September 30. On September 1, hired a new manager at a monthly salary of $2,400, to be paid the first Monday following the end of the month. Required: Prepare the journal entry, if any, required to record each of the initial business activities on September 1. Prepare the adjusting journal entries, if any, required on September 30.

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 14:00

Payday loans could be considered as a. illegal b.subprime lending c. good deal for borrower d. for frequent use

Answers: 1

Answer

Business, 22.06.2019 07:10

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u.s. parent on bank deposits held in london d. interest received by a u.s. parent on a loan to a subsidiary in mexico e. principal repayment received by u.s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u.s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation

Answers: 2

Answer

Business, 22.06.2019 10:20

Asmartphone manufacturing company uses social media to achieve different business objectives. match each social media activity of the company to the objective it the company achieve.

Answers: 3

Answer

Business, 22.06.2019 10:50

Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.

Answers: 3

Answer

You know the right answer?

E4-3 Recording Initial Transactions and Subsequent Adjustments [LO 4-1, LO 4-2] During the month of...

Questions