Answer and Explanation:
The Journal entry is shown below:-
1. Sales revenue Dr, $28,656 ($121,700 + $287,673) × 7%
To Sales tax payable $28,656
(Being sales tax payable is recorded)
Here we debited the sales revenue as it decreased the revenue while we credited the sales tax payable as it increased the liabilities so that the proper posting could be done
Working note
Credit sales = $130,219 × 100 ÷ 107
= $121,700
Cash sales = $302,810 × 100 ÷ 107
= $287,673
Answer: 11.14%
Explanation:
Buying price of bond = $936.05 -PV
Years investment held = n= 5*2
Rate of the Coupon = C = 8.4%
Frequency of payment = m= 2
Annual coupon = $1,000 × (0.084/2) = $42
Realized yield = i
Selling price of bond = PB = $1,048.77 = FV
Enter N= 10, PMT = $42, PV= -$936.05$, FV = 1,048.77
Answer 5.425%
The effective annual yield can be computed as:
EAY = (1+ Quoted m)^m -1
= (1+0.054)^2 - 1
=(1.054)^2- 1
=0.1114= 11.14
False is correct answer.
Hope it helped you.
-Charlie
If the said retail corporation uses a device that notifies the respective store managers whenever a customer is near their store and also helps them to map customer foot traffic data. Then this company is applying technology to reshape their retail operation. Usually this type of retail-tracking technology is an example of retail analytics. Wherein they uses analytical data of any type for their decision making in marketing, enhancing customer experience, and improving their business in general.
