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Phantasy [73]
3 years ago
7

Sarah and Luke each purchased $125 of merchandise from Owens Grocers on account. The terms of both sales were 1/7, n/30. Account

s that are not paid within 30 days are subject to a 2% monthly interest charge. If Sarah paid in 3 days and Luke paid in 36 days, what would be the difference in the merchandise company’s records on the date the customers paid in full?
Business
1 answer:
Tatiana [17]3 years ago
7 0

Answer:

Sarah inventory $ 123.75

Luke inventory  $  125.00

Explanation:

<u>Sarah</u>

125 dollars x 1% discount = 1.25 dollars

Inventory:

125 nominal - 1.25 discount = 123.75

Sarah will enter the inventory for the price it paid to acquire it which is 123.75

<u>Luke</u>

As look paid after the discount period the inventory will be valued at nominal:

125 dollars nominal

<u>the charge is considered interest expense</u> it will not be capitalize through inventory.

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The price of a stock today is $100. next year, the stock price will be either $120 or $90. the risk-free rate is 3% per year. wh
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A. The put option price is $4.00
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3 years ago
TB MC Qu. 8-198 The Puyer Corporation makes ... The Puyer Corporation makes and sells only one product called a Deb. The company
Kobotan [32]

Answer:

The Puyer Corporation

The total budgeted fixed selling and administrative expenses for February is:

$174,800

Explanation:

a) Data and Calculations:

Advertising                                       $ 51,200

Executive salaries                            $ 61,200

Depreciation on office equipment $ 21,200

Other                                               $ 41,200

Total fixed selling & admin. exp.   $174,800

b) The Puyer Corporation's fixed selling and administrative expenses are always fixed in total but not per unit of Deb within the short-term because they do not depend on Deb's volume of production or sale.  They are unlike the variable aspect of expenses that are fixed per unit of Deb but vary in total.  Those expenses which do not vary with the level or volume of sales or production activity of Deb are regarded as fixed because the level or volume of sales or production activity of Deb does not change their totals.  But, in the long-term, Puyer's fixed expenses will vary in total as well as per unit of Deb produced or sold.

7 0
3 years ago
A materials requisition slip showed that direct materials requested were $96000 and indirect materials requested were $9000. The
sesenic [268]

Answer and Explanation:

Work In Process Inventory            $96,000

Manufacturing Overhead              $9,000

Raw Materials Inventory               $105,000

8 0
3 years ago
Sergey bought two shares of a stock at $22 each in early January 2018. At the end of a year he earned $2 dividend on each one. B
Ipatiy [6.2K]

Answer: 10.79%

Explanation:

Based on the information given, the return in year 1 will be:

= (22.5 + 2)/21 - 1

= 1.1136 - 1

= 0.1136

= 11.36%

The return in year 2 will be:

= (22.8 + 2)/22.5 - 1

= 1.1022 - 1

= 0.1022

= 10.22%

Therefore weighted return will be:

= (11.36% + 10.22%)/2

= 21.58%/2

= 10.79%

6 0
3 years ago
Prepare the journal entry to issue $100,000 bonds which sold for $94,000.(b)prepare the journal entry to issue $100,000 bonds wh
elena-s [515]

The journal entry to issue $100,000 bonds which sold for $94,000.

Cash (Dr)                                                             94,000

Discount on bonds payable (Dr)                        6,000

           Bonds payable(Cr)                                                                1,00,000

The journal entry to issue $100,000 bonds which sold for $104,000.

Cash (Dr)                                                              1,04,000

         Premium on bonds payable (Cr)                                            4,000

         Bonds Payable (Cr)                                                                   1,00,000

<h3>What is bond?</h3>

In a bond, the issuer owes the bearer a debt and is required to return the principle and interest over a specified time period until the bond matures. Bonds are a form of financial asset. Usually, interest must be paid on a regular basis.

<h3>What is issue of bonds?</h3>

One way for businesses to raise capital is through issuing bonds. An investor and a company borrow money from one another through bonds. The investor consents to provide the company with a particular sum of money over a specific time period. Periodic interest payments are given to the investor in return.

Learn more about Bonds: brainly.com/question/17405470

#SPJ4

6 0
1 year ago
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