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docker41 [41]
3 years ago
7

Ames Quartet Inc. factors receivables with a carrying amount of $200,000 to Joffrey Company for $160,000 on a with recourse basi

s. The recourse provision has a fair value of $1,000. This transaction should be recorded as a sale. Prepare the appropriate journal entry to record this transaction on the books of Ames Quartet Inc.
Business
1 answer:
krek1111 [17]3 years ago
4 0

Answer:

Ames Quartet Inc          Debit            Credit

cash                               $160000

loss on sale                   $40000

Account receivable                            160000

recourse liability                                  1000

Explanation:

Factoring with recourse refers to a practice where a company sells it' s loan or receivable to a factor or another company for immediate cash. The factor is guaranteed an amount called ' Recourse' .

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If Keynes’ law applies during economic contractions and Say’s law applies during economic expansion, how will the three goals of
Lelu [443]

Answer:

Answer is option a, i.e. trade-offs and connections may differ in short run and the long run.

Explanation:

Keynes' law in economics and Say's law in economics are contradictory in their perspective. Where Keynes' law says that it is the demand that creates the supply, on the other hand, Say's law states that its the supply that tends to create the demand. But, we cannot neglect any of the above facts as demand and supply cant operate independently. So, on combining the two laws, we happen to take both the given laws into account. Also, it is found that Keynes' law is more appropriate and accurate for the short-run whereas, Say's law is for the long run. This thus creates trade-offs and connections that differ in the short-run and long-run by affecting the three important goals of macroeconomics, i.e. higher standard of living, low inflation, and low unemployment.

8 0
3 years ago
Suppose the following bond quotes for IOU Corporation appear in the financial page of today’s newspaper. Assume the bond has a f
natulia [17]

Answer:

YTM = 4%

Explanation:

Company (Ticker) Coupon  Maturity   Last Price    Last Yield      EST Vol (000s)

IOU (IOU)                6       Apr 19, 2034  111.44              ?                     1,851

<u />

<u>Determine the yield to maturity </u>

YTM = Rate * 2

years to maturity = 2034 - 2018 = 16 years

NPER = 2 * 16 = 32

PMT = ( face value * coupon rate ) / 2 = ( 2000 * 6% ) / 2 = 60

price of coupon ( PV ) = 2000 * 111.44% = 2228.8

Rate = 2% ( excel function : RATE(32,60,-2228.8,2000)

hence YTM = 2% * 2 = 4%

6 0
3 years ago
Which of the following statements about market segmentation is true the logic of market segmentation is that seldom meet the nee
emmasim [6.3K]

Answer:

b. In the process of market segmentation,deciding the segmentation strategy precedes determining the consumer's needs and wants.

Explanation:

In the above stated statement, it is the truth about market segmentation due to the fact that, customers needs and wants differs. <em>In other to ensure that those are met through segmentation of goods and services, there is need for the segmentation strategy to be adopted by the market. Without this segmentation strategy, their be conflicts between the needs and wants of the customers which would lead to not meeting their expectation.</em>

4 0
3 years ago
If $300 is invested at a rate of 6% per year and is compounded quarterly, how much will the investment be worth in 12 years? use
Volgvan

$613.04  will the investment be worth in 12 years.

<h3>What is investment?</h3>

The dedication of an asset to achieve a gain in value through time is referred to as investment. Investment necessitates the sacrifice of a current item, such as time, money, or effort. The goal of investing in finance is to earn a return on the invested asset.

Income investing is an investment approach that focuses on constructing an investment portfolio that is expressly designed to provide recurring income. The income investing strategy's main goal is to generate a consistent stream of income.

The type of investor you are and how you should make investments are determined by your investing personality. Your investing personality is essentially your financial risk profile, which considers aspects such as age, financial history, circumstances, and investment aspirations.

To know more about investment follow the link:

brainly.com/question/25300925

#SPJ4

8 0
2 years ago
Mayan Company had net income of $132,000. The weighted-average common shares outstanding were 80,000. The company has no preferr
katrin [286]

Answer:

EPS = $1.71 per unit

Explanation:

<em>Earnings per share is the total earnings attributable to ordinary shareholders divided by the number of units of common stock .</em>

<em>It represents profit per unit of stock unit  held by common stock holder investor. The higher the more profitable and the  better.</em>

Earnings per share = Earnings attributable to ordinary shareholders / units of common stock

Earnings attributable to ordinary shareholders= Net income after tax - preference dividend  

Net income = 132,000

Preference dividend = Nil

<em>Number of shares at the end of the year = Number of shares at the beginning - number of shares at the end</em>

Number of shares at the end of the year = 80,000 - 3000 = 77,000  units

Earnings = = 132,000 - 0 = 132,000

Earnings per shares(EPS) = $132,000 / 77,000 units = $1.71 per unit

EPS = $1.71 per unit

4 0
3 years ago
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