Answer:
The Journal Entry and their narrations is shown below:-
Explanation:
The Journal entry is shown below:-
a. 1.Accounts Receivable Dr, $3,300
To Sales $3,300
(Being sales is recorded)
Cash Dr, $3,234
Sales Discount Dr, $66
(3,300 × 2%)
To Accounts Receivable $3,300
(Being Payment received is recorded)
2. Accounts Receivable Dr, $3,234
=(3,300 × 0.98)
To Sales $3,234
(Being sales is recorded)
Cash Dr, $3,234
To Accounts Receivable $3,234
(Being payment received is recorded)
b. Cash Dr, $3,300
To Accounts Receivable $3,234
To Sales Discounts Forfeited 66
(Being payment received is recorded)
Answer:
$87,800
Explanation:
The following expenditures were incurred by Tamerisk incorporation when purchasing a land
Cash price = $74,000
Accured taxes = $4,400
Attorneys fee= $4,300
Real estate brokers commission = $1,500
Clearing and grading = $3,600
Therefore the cost of the land can be calculated as follows
= $74,000 + $4,400 + $4,300 + $1,500 + $3,600
= $87,800
Hence the cost of the land is $87,800
Answer: In macroeconomics, gross domestic product (GDP) is a macroeconomic magnitude that expresses the monetary value of the production of goods and services of final demand of a country or region during a determined period, normally one year or quarterly.
GDP can be measured by adding up all the final demands for goods and services in a given period. In this case, the destination of the production is being quantified. There are four major areas of spending: household consumption (C), government consumption (G), investment in new capital (I) and the net results of foreign trade (exports-imports).
And it can also be measured by adding the income of all the factors that contribute to the production process, such as wages and salaries, commissions, rents, copyrights, fees, interests, profits, etc. The GDP is the result of the calculation by means of the payment to the factors of the production. All this, before deducting tax.
Thus the statements "b. An increase in Social Security expenses" as government expenses, "c. An increase in retirement and pension benefits to elderly citizens" as subsidies or transfers, and "
d. An individual receiving an annual performance bonus of $5,000" as financial interest are likely to increase a country GDP.
Answer:
$429,560
Explanation:
Present value will be calculated through the PV formula,
r = 15%
C1 = $79,000 ,C2 = $112,000 ,C3 = $164,000 ,C4 = $84,000 ,C5 = $242,000
Substituting the values in the formula,
PV = 68,695.66 + 84,688 + 107,838 + 48,030.2 + 120,338.14
PV = $429,560
The present value of the cash flows of Nutech Corp. over the next five years is $429,560.
Answer:
net income cash-basis 8,000
income accrual-basis 7,900
Explanation:
cash revenues 32,000
salaries expense <u> (24,000) </u>
net income cash-basis 8,000
<u>sales for the period:</u>
beginning AR + sales - collected = ending AR
3,000 + sales - 32,000 = 5,500
sales = 34,500
<u>salaries expense:</u>
beginning salaries payables + salaries - paid = ending salaries payable
3,100 + salaries - 24,000 = 5,700
salaries 26,600
revenues 34,500
salaries <u> (26,600) </u>
income accrual-basis 7,900
