ollowing are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $6,500 cash and $27,950 of photography equipment in the company in exchange for common stock. 2 The company paid $3,100 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $1,235 cash. 20 The company received $2,750 cash in photography fees earned. 31 The company paid $872 cash for August utilities. Prepare general journal entries for the above transactions.

Among the advantages of corporations are the ease of raising financial capital, professional management, and a. rapid promotions b. lower taxes c. limited liability d. specialization

Performance bicycle company makes steel and titanium handle bars for bicycles. it requires approximately 1 hour of labor to make one handle bar of either type. during the most recent accounting period, barr company made 7,700 steel bars and 2,300 titanium bars. setup costs amounted to $35,000. one batch of each type of bar was run each month. if a single company-wide overhead rate based on direct labor hours is used to allocate overhead costs to the two products, the amount of setup cost assigned to the steel bars will be:

Diamond motor car company produces some of the most luxurious and expensive cars in the world. typically, only a single dealership is authorized to sell its cars in certain major cities. in less populous areas, diamond authorizes a single dealer for an entire state or region. the manufacturer of diamond automobiles is using a(n) distribution strategy for its product.