'Mountain formation' or 'orogeny'
Answer:
The cost of the land should be recorded as $108,350
Explanation:
Land cost = $112,000
Demolition dilapidated building = $2,200
Legal fees - title search = $1,450
Cost of land = Land cost - Demolition dilapidated building - Legal fees - title search
Cost of land = $112,000 - $2,200 - $1,450
Cost of land = $108,350
Answer: The accounts receivable turnover is computed using the formula below: Net credit sales divided by Average accounts receivable
Explanation: The accounts receivable turnover ratio is a measure used to quantify a company's effectiveness in managing its receivables collections or amount owed by clients. The following steps are involved in calculating the accounts receivables turnover:
- Get the accounts receivable at the beginning and end of the desired periods and divide by 2 to get the average, which is the denominator in the formula above.
- Then get the net credit sales, which is the total sales revenue done on credit to customers, after backing out customers' returns
High accounts receivable turnover ratio means the company's collection process is highly effective while the low ratio signifies the opposite.
Answer:
Credit to cash for $3,000
Explanation:
Based on the information given the appropiate the journal entry to record payment of this invoice after the discount period has expired is: CREDIT TO CASH FOR $3,000 which is calculated as (1/2*$6,000).
Credit to cash for $3,000
(To record payment of invoice after the discount period has expired)
Answer:
The amount in the account on the 18th birthday = $ 25,645.41
Explanation:
<em>The investment can be described as an ordinary annuity. An ordinary annuity is a series of equal periodic cash flows that occur for a certain number of years</em>
<em>The amount the invest will accrue principal plus interest is known as the f</em><u><em>uture value</em></u><em> of the annuity</em>
It is determined as follows:
<em>FV = A × ( (1+r)^n -1 ) / r</em>
FV - ?, A = 1000. r - 4%- 0.04, n - 18
FV = 1,000× ( ( (1.04)^(18) - 1 )/ 0.04
= 1,000 × 25.64541288
= $ 25,645.41
The amount in the account on the 18th birthday = $ 25,645.41
