Answer:
Dr. Cr.
Purchases / Inventory $11,000
Promissory Note Payable $11,000
Explanation:
Promissory note is a signed document which contains a written promise for payment of stated amount to specific person or bond holder on demand or specified date.
In this case the purchases are made and a promissory note of $11,000 is signed for 45 days at 8% annual rate.
This entry will be recorded as the purchases or Inventory are debited and as promissory note is a short term liability so, promissory note payable is credited resulting increase in inventory as well increase in current liability.
Answer:
Check: 5,269.04
Explanation:
We will multiply each computer by the list price. Then, apply the order discount of 20%. Finally the invoice discount of 3% for payment within 10 days
7 computer x 970 dollars each = 6,790
20% Discount for quantity:
6,790 x 20% (1,358)
Invoice nominal: 5,432
discount within the first 10 days:
5,432 x 3% (162.96)
final amount: 5,269.04
Answer:
$559,500
Explanation:
To find Live Co.'s expected dollar cash flows at the end of this year convert the Euro and Swiss francs amounts to dollar using their respective rates and then add all of the dollar amounts.
Swiss francs in dollars:
Euros is dollars:
Dollar cash flow:
The company's expected dollar cash flows are $559,500.
Answer:
how much did Pat invest at 10 percent and how much at 8 percent?
2200 10%
800 8%
Explanation:
I=C*%I*T
I=C1*0,08*1+C2*0,10*1
3000=C1+C2
C1=3000-C2
256=(3000-C2)*0,08+C2*0,10
256=240-0,08C2+O,10C2
16=0,02C2
C2=800
C1=2200
I=2200*0,1= 176
I=800*0,08=80
Answer: The correct answer is B; <em>avoid unethical behavior regardless of the consequences. </em>
Explanation:
When a person uses unethical behavior and doesn't care about the consequences, the person can lose their job. They may also lose all credibility in their community. An employer can lose many things because of this behavior including morale, also credibility, and lose money. By avoiding this behavior, Ryland is doing the right thing even though he may make someone upset.
