Answer:
increase assets and equity by $4,750
Explanation:
Based on the information given we were told that they accepted an account of a credit card account receivable for the exchange of the amount of $5,000 of the services that was provided to a customer in which the credit card company charges 5% service charge, Based on this if we are to Record the transaction in the company's accounting records the effect on the accounting equation will be:
Increase assets and equity by $4,750
Calculated as :
$5,000-($5,000*5% Service charge)
$5,000-$250
=$4,750
Answer:
Approximately 6 years
Explanation:
Use Future value formula to calculate the period:
FV = Target Earning = $3 million
PV = Current Sales = $1,233,450
g = growth of sales = 16%
n = number of years = ?
FV = PV ( 1 + g )^n
$3,000,000 = $1,233,450 x ( 1 + 16% )^n
$3,000,000 / $1,233,450 = ( 1 + 0.16 )^n
2.4322 = 1.06^n
log 2.4322 = log 1.16^n
n = log 2.4322 / log 1.16
n = 5.99
n = 6 years (Rounded off to nearest whole year)
Answer:
$163,200
Explanation:
Tucan Company
Purchase Budget for the Month of August
Production Requirement ( 11,00 x 0.5 ) 550
Add Closing inventory ( 980 x 0.5 x 10%) 49
Total 599
Less Opening Inventory ( 11,00 x 0.5 x 10%) (55)
Materials Required 544
Cost $300
Total Cost $163,200
The best and most correct answer among the choices provided by the first question is the third choice or letter C "the business cycle."
On the other hand, the best and most correct answer among the choices provided by the second question is the first choice or letter A " The price goes up. "<span>
</span>I hope my answer has come to your help. Thank you for posting your question here in Brainly. We hope to answer more of your questions and inquiries soon. Have a nice day ahead!
Answer:
The appropriate journal entries to record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021 are:
White Water journal entries
1-Jan-21
Debit Cash $382,141
Credit Discount on Bonds Payable $27,859
($410,000-$382,141)
Credit Bonds payable $ 410,000
30-Jun
Debit Interest Expenses $ 15,286
($382,141 x 8%/2)
Debit Discount on Bonds Payable $736
Credit Cash $14,350
($410,000 x 7%/2)
31-Dec
Debit Interest Expenses $15,315.08
[($382,141 + 736) x 8%/2]
Credit Discount on Bonds Payable $965.08
($15,315.08-$14,350)
Credit Cash $14,350
($410,000 x 7%/2)
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