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2 years ago

Which accounts are affected in the closing process under a perpetual inventory system?

Business

1 answer:

diamong [38]2 years ago

8 0

<span> Cost of goods sold, sales returns and allowances and sales discounts </span>

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You want to purchase a motorcycle 4 years from now, and you plan to save $3,500 per year, beginning immediately. You will make 4

Andreyy89

Answer:

You will have $16,111.99

Explanation:

a) Data and Calculations:

Annual savings $3,500

Years = 4

Interest rate = 5.7%

Future value using finance calculator:

FV (Future Value) $16,111.99

PV (Present Value) $12,907.71

N (Number of Periods) 4.000

I/Y (Interest Rate) 5.700%

PMT (Periodic Payment) $3,500.00

Starting Investment $0.00

Total Principal $14,000.00

Total Interest $2,111.99

b) Your annual savings of $3,500 with 4 deposits will have a future value of $16,111.99 compounded at 5.7% for 4 years with a total principal of $14,000 ($3,500 * 4).

8 0

2 years ago

Adonis Corporation issued 10-year, 11% bonds with a par value of $270,000. Interest is paid semiannually. The market rate on the

shutvik [7]

Answer:

e) Adonis must pay $270,000 at maturity plus 20 interest payments of $14,850 each.

Explanation:

Based on this information,Adonis Corporation is issuing a coupon paying bond.

The $286,827 that they receive is the market price/ market value of the bond.

The duration of the bond = 10 years, however, since the coupons are paid semiannually, there will be 10*2 = 20 payments in total.

Semi annual coupon payment; PMT = (11%/2) *270,000 = $14,850
The $270,000 is the face value of the bond which must be repaid at the end of the life of this bond.
<em>Therefore, Adonis must pay $270,000 at maturity plus 20 interest payments of $14,850 each.</em>

3 0

2 years ago

The fundamental attribution error:______ a. advantages non-dominant group members while disadvantaging dominant group members. b

guapka [62]

Answer:

Option B

Explanation:

In simple words, The fundamental mistake throughout the attribution refers to the propensity for individuals to overemphasise personal attributes and neglect environmental variables in evaluating actions of others.

For instance, in one experiment whenever something unpleasant occurred to somebody else, participants blamed the actions or attitude of that individual 65 per cent of the total times. Thus, from the above we can conclude that the correct option is B.

3 0

2 years ago

Which of the following statement is false? Group of answer choices Financing activities include the obtaining of cash from issui

Lapatulllka [165]

Answer:

Interest payment on bonds payable is a cash outflow from financing activities.

Explanation:

The only statement which is false from the list is : Interest payment on bonds payable is a cash outflow from financing activities.

Interest payment on bonds payable is an expense in the income statement used to determine the income for the year. Net Income falls under the Cash flows from Operating Activities.

6 0

2 years ago

A cash dividend payment to shareholders during the year should be reported on the statement of cash flows as:Multiple ChoiceAn i

mafiozo [28]

Answer:

A decrease in cash flows from financing activities

Explanation:

When cash dividend is paid,

It is an outflow of cash as paid, therefore it will decrease the cash flows.

Further dividend is paid to equity, or preference capital raised for business, which is a financing activity.

Therefore, a cash dividend paid to shareholders will result in decrease in cash flow from financing activities.

Whereas cash dividend received is investing activity.

Final Answer

A decrease in cash flows from financing activities.

3 0

2 years ago

Read 2 more answers