IBM and several other computer manufacturers actually became household words when they designed equipment to benefit ____

On August 31, 2021, Shocker borrows $57,000 from a local bank. A note is signed with principal and 9% interest to be paid on Aug

vladimir2022 [97]

9% interest to be paid on August 31, 2022, is $1,710.

The price of return that lenders call for for the ability to borrow their cash. for example, the interest rate on credit playing cards is quoted as an APR. In our instance above, four% is the APR for the mortgage or borrower. The APR does not keep in mind compounded interest for the yr.

There are some public sectors in addition to private zone banks in India. although every bank, typically has a different range of interest price for savings bills, the rates commonly range from 2.70% p.a. to six.25% p.a. 2.70% p.a. to 6.50% p.a.

Paid interest is a hobby you've already been credited or paid for. As noted, before virtually having access to the hobby, it's really accruing. however, once that sum hits our account or balance, it is now known as a paid hobby.

Learn more about bank interest here:-brainly.com/question/15728540

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7 0

1 year ago

At the beginning of July, CD City has a balance in inventory of $2,450. The following transactions occur during the month of Jul

denpristay [2]

Answer:

CD City

a. Journal Entries, using perpetual inventory system:

July 3:

Debit Inventory $1,350

Credit Accounts Payable (Wholesale Music) $1,350

To record purchase of CDs on account, terms, 2/10, n/30.

July 4:

Debit Freight-in $110

Credit Cash $110

To record cash payment for freight.

July 9:

Debit Accounts Payable (Wholesale Music) $200

Credit Inventory $200

To record return of CDs.

July 11:

Debit Accounts Payable (Wholesale Music) $1,150

Credit Cash Discount $23

Credit Cash $1,127

To record full settlement on account.

July 12:

Debit Accounts Receivable $3,900

Credit Sales $3,900

To record sales of CDs on account.

Debit Cost of Goods Sold $2,050

Credit Inventory $2,050

To record the cost of sales.

July 15:

Debit Cash $3,900

Credit Accounts Receivable $3,900

To record cash receipt from customers.

July 18:

Debit Inventory $2,150

Credit Accounts Payable (Music Supply) $2,150

To record purchase of CDs on account, terms, 2/10, n/30.

July 22:

Debit Cash $3,250

Credit Sales $3,250

To record cash sales.

Debit Cost of Goods Sold $1,550

Credit Inventory $1,550

To record cost of sales.

July 28:

Debit Accounts Payable (Music Supply) $110

Credit Inventory $110

To record return of CDs.

July 30:

Debit Accounts Payable (Music Supply) $2,040

Credit Cash $2,040

To record full settlement.

b. Top Section of Multiple-step Income Statement for the month of July:

Sales $7,150

Cost of Goods Sold = ($3,600)

Gross Profit = $3,550

Explanation:

a) Sales

July 12 = $3,900

July 22 = $3,250

Total $7,150

b) Inventory

Beginning Balance = $2,450

July 3 purchase = 1,350

July 9 return = -200

July 12 cost of sales -2,050

July 18 purchase = 2,150

July 22 cost of sales -1,550

July 28 return = -110

Ending Balance = $2,040

c) Cost of Goods Sold

July 12 cost of sales $2,050

July 22 cost of sales 1,550

Total $3,600

8 0

2 years ago

In what areas is Leslie's underspending<br> hurting her budget?

Jlenok [28]

Leslie's budget is hurting in the areas of transportation, groceries, phone and dining out.

<u>Explanation:</u>

For transportation, cash is required for every day. So Leslie is spending more on transportation every month. Forgoing back and forth out anyplace she will burn through cash on transportation.

She is likewise spending cash on goods. Staple goods will be an essential one for living these days. So the financial backing is harming here.

She is spending another hand on the telephone and eating out. For the telephone, she will energize each month. She will feast out with companions each day.

5 0

2 years ago

Read 2 more answers

Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 31,800 $ 35,625 $ 37,

Ede4ka [16]

Answer:

Simon Company

1-a) Current ratio = 1.88 2.52 2.87

= Current assets/Current liabilities

1-b. The current ratio worsened over the three-year period.

2-a) Acid-test ratio = 1.02 1.43 1.81

= (Current assets - Inventory)/Current liabilities

2-b) The acid-test ratio worsened over the three-year period.

Explanation:

a) Data and Calculations:

At December 31 Current Yr 1 Yr Ago 2 Yrs Ago

Assets

Cash $ 31,800 $ 35,625 $ 37,800

Accounts receivable, net 89,500 62,500 50,200

Merchandise inventory 112,500 82,500 54,000

Prepaid expenses 10,700 9,375 5,000

Total current assets $244,500 $190,000 $147,000

Plant assets, net 278,500 255,000 230,500

Total assets $ 523,000 $ 445,000 $ 377,500

Liabilities and Equity

Accounts payable $ 129,900 $ 75,250 $ 51,250

Long-term notes payable secured by

mortgages on plant assets 98,500 101,500 83,500

Common stock, $10 par value 163,500 163,500 163,500

Retained earnings 131,100 104,750 79,250

Total liabilities and equity $ 523,000 $ 445,000 $ 377,500

1-a) Current ratio = 1.88 2.52 2.87

= Current assets/Current liabilities

= Total current assets $244,500 $190,000 $147,000

Accounts payable $ 129,900 $ 75,250 $ 51,250

1-b. The current ratio worsened over the three-year period.

2-a) Acid-test ratio = 1.02 1.43 1.81

= (Current assets - Inventory)/Current liabilities

Current assets - Inventory $132,000 $107,500 $93,000

Accounts payable $ 129,900 $ 75,250 $ 51,250

2-b) The acid-test ratio worsened over the three-year period.

3 0

2 years ago

Rad, a manufacturer of luxury watches, charges a higher price for its products than its competitors. Despite the high prices, th

rodikova [14]

Answer:

More-for-more

Explanation:

A value proposition refers to the value a company promises to deliver to customers if they decide to purchase their product. A value proposition is also a declaration of intent or a statement that introduces a company's brand to consumers by informing the customers what the company stands for, how it is being operated, and why it deserves their patronage.

8 0

3 years ago

IBM and several other computer manufacturers actually became household words when they designed equipment to benefit _____.