Trafalgar Estate Agency started operations on January 01, 2020. The following transactions occurred in the first month of operations: January 01 Owner of the business Mr. Miller invested $30,000 cash in the business.

January 03 Purchased office supplies worth $1,500 on credit.

January 06 Purchased office equipment for $7,500; paying $2,500 in cash and signed a 30-day, $5,000 note payable.

January 12 Real estate commission billed to clients amount to $12,000.

January 20 Paid cash on account for office supplies purchased on January 03.

January 27 Received a check for $4,000 from a client in payment on account for commissions billed on January 12.

January 30 Received a telephone bill for $120 due next month.

Requirements:

Enter these transactions in General Journal of Trafalgar Estate Agency.
Post these transactions to appropriate ledger accounts.
Prepare a trial balance for the month of January 31, 2020.

Which of the following best explains how the invention of money affected the barter system? a. the invention of money supplemented the barter system by providing a nonperishable medium of exchange b. the invention of money completely replaced the barter system with a free-market system c. the invention of money had no effect on the barter system d. the invention of money drastically reduced the value of goods used in the barter system 2b2t

Gdonald was unhappy that his company did not provide good transport facilities. he found it very strenuous to drive to work on his own, and this eventually led to job dissatisfaction. hence, he recommended ways to solve this problem. according to the evln model, this information suggests that donald's main reaction to job dissatisfaction was:

Bridgeport company began operations at the beginning of 2018. the following information pertains to this company. 1. pretax financial income for 2018 is $115,000. 2. the tax rate enacted for 2018 and future years is 40%. 3. differences between the 2018 income statement and tax return are listed below: (a) warranty expense accrued for financial reporting purposes amounts to $7,500. warranty deductions per the tax return amount to $2,200. (b) gross profit on construction contracts using the percentage-of-completion method per books amounts to $94,700. gross profit on construction contracts for tax purposes amounts to $67,100. (c) depreciation of property, plant, and equipment for financial reporting purposes amounts to $61,800. depreciation of these assets amounts to $75,700 for the tax return. (d) a $3,600 fine paid for violation of pollution laws was deducted in computing pretax financial income. (e) interest revenue recognized on an investment in tax-exempt municipal bonds amounts to $1,500. 4. taxable income is expected for the next few years. (assume (a) is short-term in nature; assume (b) and (c) are long-term in nature.) (a) prepare the reconciliation schedule for 2017 and future years. (b) prepare the journal entry to record income tax expense for 2017. (c) prepare the income tax expense section of the income statement beginning with “income before income taxes.” (d) determine how the deferred taxes will appear on the balance sheet at the end of 2017.