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ACCOUNTING During December, Desimone Auction Co. completed the following transactions: $$ \begin{matrix} \text{Dec 1 } & \text{Desimone received \$23,000 cash and issued common stock to the stockholders. }\\ \text{5} & \text{Paid monthly rent, \$1,900. }\\ \text{9} & \text{Paid \$7,000 cash and signed a \$28,000 note payable to purchase land for an office site. }\\ \text{10} & \text{Purchased supplies on account, \$1,100.}\\ \text{19} & \text{Paid \$700 on account.}\\ \text{22} & \text{Borrowed \$19,000 from the bank for business use. Desimone signed a note payable to the bank in the name of the business. }\\ \text{31} & \text{Service revenue earned during the month included \$14,000 cash and \$6,000 on account. }\\ \text{31} & \text{Paid employees’ salaries (\$2,500), advertising expense (\$1,300), and utilities expense (\$1,700). }\\ \text{31} & \text{Declared and paid a cash dividend of \$2,500.}\\ \end{matrix} $$ Desimone’s business uses the following accounts: Cash, Accounts Receivable, Supplies, Land, Accounts Payable, Notes Payable, Common Stock, Dividends, Service Revenue, Salary Expense, Rent Expense, Advertising Expense, and Utilities Expense. Journalize each transaction of Desimone Auction Co. Explanations are not required. Post to these T-accounts: Cash, Accounts Payable, and Notes Payable. After these transactions, how much cash does the business have? How much in total liabilities does it owe? Verified answer ACCOUNTING Verified answer
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Terms in this set (34)Which of the following is an example of a tangible resource? C A
linked and closely integrated set of competitive assets centered around one or more cross-functional B Which of the following is a tangible resource for a company? D The VRIN tests for a sustainable competitive advantage ask if a resource has all of the following E
Broadly speaking, resources can be divided into two main categories: E ____________ makes it very hard to figure out how a complex resource contributes to competitive B Which of the following is an example of an intangible resource? E Which of the following
is a common liquidity ratio? A (Sales revenues-operating expenses)/sales revenues= E A company's resources and capabilities represent its _______________ and are big determinants of its B Which of the following is not an example of an intangible resource? B ___________________ provides managers with a powerful tool for sizing up the company's C The ongoing capacity of a company to modify its existing resources and capabilities and create new E A ___________ is an activity that a company has learned to perform with proficiency—a capability in D A ____________ is a productive input or competitive asset that is owned or controlled by the
firm. D Which of the following is a common leverage ratio? A A ___________ is the capacity of a firm to
perform some internal activity competently. B Organizational capabilities are developed and enabled through the deployment of a company's A A sustainable competitive advantage occurs
when a firm B Which of
the following is not an example of a tangible resource? B _____________ is a potent tool for improving a company's own internal activities that is based on E (Sales Rev-COGS)/Sales Rev = B Which of the following is a
common activity ratio? A The primary activities and the related support activities of how a company creates customer value is A Sluggish financial performance and second-rate market accomplishments almost always signal weak A Which of the following is not a primary activity in a company value chain? A Which of the following is not a common indicator of how well a company's strategy is working? B A ___________ is a competitively important activity that a company performs better than its rivals—it B Which of the following is not a functional component of a single-business company's strategy? D Organizational capabilities are typically developed and enabled independently of the company's B Which of the following is not a strategic approach managers can pursue to reduce the costs of internally B A ______________ is an activity that a company performs proficiently that is also central to its strategy D Which of the following is a common profitability ratio? A The task of getting a clear
fix on what strategic and competitive challenges confront the company, A
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QUESTION Calculate the required rate of return for Mudd Enterprises assuming that investors expect a 3.6% rate of inflation in the future. The real risk-free rate is 1.0%, and the market risk premium is 6.0%. Mudd has a beta of 1.5, and its realized rate of return has averaged 8.5% over the past 5 years. Verified answer
QUESTION What are some differences in the analysis for a replacement project versus that for a new expansion project? Verified answer
QUESTION If a firm goes from zero debt to successively higher levels of debt, why would you expect its stock price to rise first, then hit a peak, and then begin to decline? Verified answer QUESTION Allison and Leslie, who are twins, just received $10,000 each for their 25th birthday. They both have aspirations to become millionaires. Each plans to make a$5,000 annual contribution to her “early retirement fund” on her birthday, beginning a year from today.Allison opened an account with the Safety First Bond Fund, a mutual fund that invests in high-quality bonds whose investors have earned 8% per year in the past. Leslie invested in the high-quality bonds whose investors have earned 8% per year in the past. Leslie invested in the investors have earned an average of 13% per year in the fund’s relatively short history. a. If the two women’s funds earn the same returns in the future as in the past, how old will each be when she becomes a millionaire? b. How large would Allison’s annual contributions have to be for her to become a millionaire at the same age as Leslie, assuming their expected returns are realized? c. Is it rational or irrational for Allison to invest in the bond fund rather than in stocks? Verified answer Other Quizlet setsA&P STRUCTURES OF THE SKIN, Accessory Structures o…36 terms
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QUESTION Which is a function in a spreadsheet software program, allowing the computer user to change the format of the data from ascending to descending order 2 answers QUESTION A marketer is having difficulty finding data about a competitor because the competitors financial records have not been made public. Which disadvantage of secondary research does this situation illustrate? 2 answers QUESTION A company that manufactures wooden planks for construction has categorized its customers on the basis of their product requirements into three groups: construction companies, wholesalers, and government institutions. Which marketing strategy is best illustrated in this scenario? 9 answers QUESTION the terms "green" and "sustainable" mean essentially the same thing and may be used interchangeably 10 answers Which of the following is an intangible resource?Goodwill, brand recognition and intellectual property, such as patents, trademarks, and copyrights, are all intangible assets.
Which of the following is an example of an intangible resource of a firm?Intangible resources include, for example, the knowledge and skills of employees, a firm's reputation, and a firm's culture.
Which of the following is a tangible resources?Tangible resources are physical items including cash, inventory, machinery, land or buildings. These items can be easily liquidated and have a set value. They are critical in accounting as they help a company understand it's financial standing when entered on balance sheets and financial statements.
What are five examples of a firm's tangible resources?Production equipment, manufacturing facilities, distribution centers, and formal reporting structures are examples of tangible resources.
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Which of the following is an intangible resource Quizlet
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