How can conventional supermarkets differentiate their offerings??

Following are selected transactions for Vitalo Company. Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly W

umka21 [38]

Answer:

As at April 30

Dr. Account Receivable (120 days / 180 days x 6000 x 0.08) ..$320

Cr. Interest Income......................................................................................$320

Being accrued interest Income for current year to date on note receivable

Dr. Bank..............................................................................................$6,483

Cr. Accounts Receivable ($6000 note receivable + $163 + $320)...$6,483

Being settlement of note receivable with total accrued interest Income

Explanation:

Following are selected transactions for Vitalo Company.

Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly White in granting a time extension on her past-due account receivable.

As at November 1

Account receivable = $6,000 and Note Receivable = $6000

Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the White note.

As at December 31

Dr. Account Receivable (61 days /180 days x 6000 x 0.08) ..$163

Cr. Interest Income......................................................................................$163

Apr. 30 White honored her note when presented for payment; February has 28 days for the current year.

As at April 30

Dr. Account Receivable (120 days / 180 days x 6000 x 0.08) ..$320

Cr. Interest Income......................................................................................$320

Being accrued interest Income for current year to date on note receivable

Dr. Bank..............................................................................................$6,483

Cr. Accounts Receivable ($6000 note receivable + $163 + $320)...$6,483

Being settlement of note receivable with total accrued interest Income

4 0

3 years ago

Read 2 more answers

Chiquita produces bananas for an average explicit cost of $0.25 per banana and sells 1 million bananas per week for a price of $

VLD [36.1K]

Answer:

Chiquita makes an economic profit of $250,000.

5 0

3 years ago

Gulfcoast, Inc. purchased a van on January 1, 2019, for $ 900 comma 000. Estimated life of the van was five years, and its es

Zarrin [17]

Answer:

$740,200

Explanation:

Depreciation is the systematic allocation of the cost of an asset to the income statement over the estimated useful life of that asset.

It is determined as the depreciable value of the asset over the estimated useful life of the asset where the depreciable value is the difference between the cost and salvage value of the asset

Mathematically,

Depreciation = (Cost - Salvage value)/Estimated useful life

Depreciation = (900,000 - 101,000)/5

= $159,800

Book value is the cost net accumulated depreciation

= $900,000 - $159,800

= $740,200

4 0

3 years ago

A ____________ is a strategy in which firms share some of their resources and capabilities to create economies of scope and is s

Alina [70]

Answer:

c. Synergistic Strategic Alliance

Explanation:

Synergistic Strategic Alliance is a two-way partnership where both of them collaborate with each other and share their core competencies with one another to make their total output more than mutual individual outputs.

Therefore, through synergistic actions, both companies turn their vulnerabilities into strengths and thus become more effective on the marketplace.

7 0

3 years ago

During the current year, Adams Assembly, Inc., recorded credit sales of $1,300,000. Based on prior experience, it estimates a 1

OleMash [197]

Answer:

a. Debit Allowance for doubtful debt $4,000

Credit Accounts receivable. $4,000

Being entries to write off debt that had been provided for.

b. Debit bad debit expense $13,000

Credit Allowance for doubtful debt $13,000

Being entries to record bad debt expense for the current year.

Explanation:

When a company makes sales on account, debit accounts receivable and credit sales.

Based on assessment, some or all of the receivables may be uncollectible.

To account for this, debit bad debit expense and credit allowance for doubtful debt.

Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.

Bad debt = 1% * $1,300,000

= $13,000

3 0

3 years ago