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2 years ago

Six acres of prime undeveloped property are sold for $2.25 per square foot. how much did the buyer pay?

Business

1 answer:

muminat2 years ago

7 0

Six acres of prime undeveloped property are sold for $2.25 per square foot. The buyer should pay $588060

It is calculated as:

1 acre= 43560 sq ft.

Therefore 6 acre = 43560*6 = 261360 sq ft.

Property is sold for $2.25 per sq. ft

Therefore the price is calculated by multiplying the rate of per sq ft with the total sq ft area.

= 261360* $2.25

=$588060

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3 years ago

As a result of cash flow shortages, Washington Department Stores has fallen behind in payments to suppliers. Some suppliers are

xenn [34]

Answer:

The correct answer is letter "D": short-term financing.

Explanation:

Short-term financing allows companies to obtain capital for their <em>day-to-day operations</em>. The funds obtained are typically used for the transactions companies require during one period -one year, but the term for payment tends to be within six (6) to twenty-four (24) months. Under this scenario, the main purpose of firms is to keep their businesses up and running and obtain profits enough for the payment of the loan and reinvestment in the company.

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3 years ago

In 2020, Marigold Corp., issued for $102 per share, 86000 shares of $100 par value convertible preferred stock. One share of pre

lapo4ka [179]

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$2322,000

Explanation:

The computation of amount credited to additional paid-in capital is shown below:-

Amount credited to additional paid-in capital = Issued per share × Number of shares) - (Number if shares × Preferred stock shares converted into three shares × Par value of common stock

= ($102 × 86,000) - (86,000 × 3 × $25)

= $8,772,000 - $6,450,000

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So, for computing the amount credited to additional paid-in capital we simply applied the above formula.

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3 years ago

Use the following information to determine this company's cash flows from financing activities.a. Net income was $466,000. b. Is

Leni [432]

Answer:

The answer is ($174,000)

Explanation:

Cash flows from financing activities show the inflow and outflow of cash that are used to fund the business's operations.

Cash flow from financing activities:

Issuance of common stock......................................$79,000

Payment of dividend........($13,000)

Settlement of notes payable.................................($125,000)

Payment for treasury stock.........…...........................................($115,000)

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3 years ago

Journalize the following merchandise transactions. The company uses the perpetual inventory system.

aliya0001 [1]

Answer:

Accounts Receivable $17,300 (debit)

Cost of Goods Sold $12,600 (debit)

Sales Revenue $17,300 (credit)

Inventory $12,600 (credit)

Cash $15,916 (debit)

Accounts Receivable $15,916 (credit)

Explanation:

The Perpetual Inventory system records the cost of inventory after every sale.

a. Sale of Sold merchandise on account

Recognize the Revenue and Cost of Sale as follows :

Accounts Receivable $17,300 (debit)

Sales Revenue $17,300 (credit)

Cost of Sales $12,600 (debit)

Merchandise $12,600 (credit)

b.Received payment within the discount period

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Accounts Receivable $15,916 (credit)

Cash Receipt = $17,300 × 92% = $15,916

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3 years ago