Malia is a partner of a small clothing company. This week she has been hosting a group of potential investors. Several of the po

Answer:

Both will charge $6,904 when they transport 16 tons of sugar.

Explanation:

The amount of sugar to be transported is S, since we need to calculate at which amount of sugar both truck companies charge the same total price, we need to solve the following:

first company charges $4,500 + $150.25 S

second company charges $3,696 + $200.50 S

since both companies will charge the same total amount, then

$4,500 + $150.25 S = $3,696 + $200.50 S

$4,500 - $3,696 = $200.50 S - $150.25 S

$804 = $50.25 S

$804 / $50.25 = S

S = 16

$4,500 + ($150.25 x 16) = $4,500 + $2,404 = $6,904

Answer:

Sheldon's financial statements for year 1 would show:

Supplies Inventory = $1,400

Supplies Expense = $3,200

Account Payable = $400

Explanation:

Supplies Account balance at beginning of the year = $1,200

Purchase during the year = 3,400

Payment during the year = $3,000

Supplies counted at end of the year = $,1400

Supplies used in the year 1 = 1200 + 3400 -1400 = $3,200

Account Payable at the end of year = 3,400 - $,3000 = $400

Based on the transactions that occurred on Aug. 15 and Oct. 25 the appropriate journal entries for Newton Company are:

Aug. 15

Debit Cash $14,550

($15,000×97%)

Debit Service Charge Expense $450

($15,000×3%)

Credit Accounts Receivable $15000

Oct. 25

Debit Cash $784

($800×98%)

Debit Service Charge Expense $16

($15,000×2%)

Credit Sales Revenue $800

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The amount of revenue for July is $1,515.

• The computation of the amount of revenue for July is as follows:

= Cash received during July month + provided service to the customer on credit

= $1,020 + $495

= $1,515

Therefore we can conclude that the amount of revenue for July is $1,515.

Hence, option d is correct.

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