Answer:
Debit Cash/Bank $48,500
Debit Service charge (p/l) $48,500
Credit Accounts receivable $50,000
Being entries to account for credit card payment of debt due from customers.
Explanation:
The credit card payment is a form of cash and cash equivalent that may be accepted by a company in place of debt owed by another company (a customer).
This is usually at a fee and may be done to ease the company's liquidity. The actual receivable will then be collected from the customer by the credit card company. This is a form of debt factoring.
Service charge
= 3% * $50,000
= $1,500
Amount received = $50,000 - $1,500
= $48,500
The accounts to be adjusted include cash/bank account, service charge (p/l) and accounts receivable.
The answer you are looking for is c
Answer:
$31.35 (Approx)
Explanation:
Require a return on company's stock = 9.6%
Dividend:
Year 1 = $5.20
Year 2 = $9.30
Year 3 = $12.15
Year 4 = $13.90
Therefore,
Stock price:
= Future dividends × Present value of discounting factor(rate%,time period)
= $31.35 (Approx)
Answer:
The answer is given as below;
Explanation:
Opening inventory $8,000
Purchases $96,000
Less: return outwards ($6,200)
Add; Freight in $1,100
Less: Closing Inventory ($17,300)
Cost of Goods Sold $81,600
Answer:
Lein Theory.
Explanation:
Lien theory refers to the theory in which the buyer stops the property deed at the time of the mortgage. Also the buyer promised to pay all the payments so that the mortgage could become a lien on a property but at the same time the title would remain with the buyer but if all the payments are paid so the lien could be removed
Therefore in the given situation, it represents the lien theory
