Accounting Answers

Which one of the following alternatives represents the correct amount of accumulated depreciation on office equipment which was sold on 30 september 2019?

December 31 Roberts Company has earned interest revenue of $3,500 on outstanding notes, even though the company will not actually receive the interest until the following year?

What is the principle of double entry accounting? Provide an example that would illustrate this principle

- Sept. 10 Mr. John transferred cash from his personal account to be used in the business,

- Birr 10,000.

- “ 10 Paid rent for the month, Birr 500

- “ 11 Purchased a truck for Birr 12,000 by paying Birr 3,000 Cash and giving a notes payable for the difference.

- “ 12 Purchased equipment on account Birr 1,460.

- “ 13 Purchased supplies on account Birr 240.

- “ 14 Paid insurance premiums of Birr 170 (Dr. prepaid insurance)

- “ 15 Received cash for services completed Birr 360.

- “ 16 Purchased Supplies on account Birr 240.

- “ 18 Paid salaries of Birr 900.

based on the data above Record the transactions in General Journal?

Hi! How to do the bank loan , 1st JAN 2011 the business borrowed 100000 on a 5 year loan.

interest rate of 6% per annum was payable monthly. It was on an interest only basis with interest paid monthly at the end of each month.

Chat started

Assets, Beginning of Period 12,000


Liabilities, Beginning of Period 5,000


Assets, End of Period 23,000


Liabilities, End of Period 9,000


Investment by Owner 10,000


Revenues 99,000


Withdrawals by Owner 0


Solve for the expenses incurred during the period.

Suppose that there are only two fishermen, Zach and Jacob, who fish along a certain coast. They would each benefit if lighthouses were built along the coast where they fish. The mar-ginal cost of building each additional lighthouse is $100. The marginal benefit to Zach of each additional lighthouse is 90 – Q, and the marginal benefit to Jacob is 40-Q, where Q equals the number of lighthouses.

a) Explain why we might not expect to find the efficient number of lighthouses along the coast.

b) What is the efficient number of lighthouses? What would be the net benefits to Zach and Jacob if the efficient number were provided?

Sndi Inc. has following information

Sales Revenue $2,000,000

Cost of goods sold $1,100,000

Operating Expenses $800,000

Average Capital Invested $1,000,000


1. Compute the Firm's sales margin, Capital turnover and ROI?

2. If the sales and average Invested Capital remains the same Next year, to what level would the total expenses have to be changed so as to improve the Firm's ROI to 15%?

if the total cost of the firm is given by TC=Q2+20

A. The average total coast (ATC)

B. The marginal cost (MC)

C. The average variable cost (AVC)

D. The average fixed cost(AFC)

Assuming the quick ratio for a competitor of Queen Company for 2018 is 1.90, comment on

Queen Company’s quick ratio.