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IgorLugansk [536]
3 years ago
6

Write a brief memo to the Chairman of the Board explaining how much you plan to invest in the Company and what you project the r

eturn will be in the form of Return on Equity (ROE), Return on Assets (ROA) and Return on Sales (ROS) by the end of the 8th year. Also report on your cumulative profit so far and what plans you have in place to help the Company improve
Business
1 answer:
MAXImum [283]3 years ago
7 0
One breif memos are awesome but sorry din't know
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Strickland Company owes $202,900 plus $18,600 of accrued interest to Moran State Bank. The debt is a 10-year, 10% note. During 2
Vesnalui [34]

Answer:

a.                     Strickland Company (Debtor)

Date  Account Title and Calculation                   Debit         Credit

          Notes payable                                          $202,900

          Interest payable                                        $18,600

          Accumulated depreciation (Machine)      $218,689

                    Machine                                                             $397,600

                    Gain on disposition of machine                        $7,080

                     (186,000 + 397,000 - 218,680)

                    Gain on debt restructuring                                 $35,500

                    [(202,900 + 18,600) - 186,000]

                       Moran State Bank (Creditor)

Date  Account Title and Calculation          Debit         Credit

         Machine                                             $186,000

         Allowance for Doubtful accounts     $35,000

                Notes receivable                                           $202,900

                 Interest receivable                                        $18,600

b. Gain on machine disposition and the gain on debt restructuring should be reported as an ordinary gain in the income statement.

c.                      Strickland Company (Debtor)

Date  Account Title and explanation         Debit         Credit

         Notes payable                                   $202,900

         Interest payable                                 $18,600

                  Common stock                                             $112,000

                   Additional paid-in-capital                            $74,000

                   Gain on debt restructuring                          $35,500

                       Moran State Bank (Creditor)

Date  Account Title and explanation             Debit         Credit

          Investment Trading                             $186,000

           Allowance for Doubtful accounts      $35,500

                     Notes receivable                                          $202,900

                     Interest receivable                                        $18,600

7 0
3 years ago
On July 1, the inventory of at Barnett Shoes was $60,000. Because of anticipated back-to-school sales, the owner wants to have a
AVprozaik [17]

Answer:

required purchase             83,500

Explanation:

The cost of inventory in july sales and our desired ending invenory is the amount we need. the beginning inventory is a portion of this demand already fullfil, we need to purchase for the difference.

cost of inventory sales for July:

           70,000 x (1 - 45%) =  38,500

desired ending inventory   105,000

beginning inventory        <u>    (60,000)   </u>

  required purchase             83,500

4 0
3 years ago
Session Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-ho
Fofino [41]

Answer:

$6,765

Explanation:

The total cost for job K913 is given by the sum of the costs with manufacturing overhead (fixed and variable), direct materials (M) and direct labor (L).

Since the company uses a predetermined overhead rate based on direct labor-hours, the overhead cost for job K913 is:

O = F+V\\O=\frac{150*\$511,000}{70,000} +150*\$2.10\\O=\$1,410

The total cost for the job is:

C=O+M+L\\C=\$1,410+\$705+\$4,650\\C=\$6,765

The total job cost for Job K913 is closest to $6,765.

8 0
3 years ago
A(n) ______ indicates the maximum quantity of a product that may be brought into a country during a specific time period:
mash [69]

What indicates the maximum quantity of a product that may be brought into a country in a specific period is a quota.

<h3>What does quota mean?</h3>

A quota is the maximum monetary value of a good and service that can be imported into a country for a  specific period.

The purpose of a quota is to restrict the amount of import into a country so as to boost local production of the good for which the quota is placed. Quotas also limit foreign competition.

To learn more about imports, please check: brainly.com/question/26497713

5 0
2 years ago
Which kind of graph is shown here?
Vinil7 [7]

Answer:

Explanation:

This is a demand graph. You can tell because at the price decreases, the amount demanded increases. Consumers usually want to purchase more goods when the price is less.

5 0
3 years ago
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