Answer:
c. Neither Gabriella nor Juanita will recognize gain on the transfer.
Explanation:
This is because gabriella transfers cash of 50,000 and does not earn any gain on it, so no gain is recognized.
Answer:
A) 912,000 net income
B) ROA = 9.31%
C) ROE = 14.95%
Explanation:
a) net income:
sales x profit margin = net income
15,200,000 x 6% = 912,000 net income
b) ROA = return on assets
912,000/9,800,000 = 0,0930612 = 9.31%
b) ROE = return on equity
we use accounting equation to solve for equity:
aasets = liab + equity
9.8 M = 3.7M + E
E = 9.8 - 3.7 = 6.1
912,000/6,1000,000 = 0,1495081 = 14.95%
Answer: The correct answer is "installment accounts".
Explanation: The quality cars business model implies that customers can pay a reduced percentage of the cash price, and for the remaining balance a financing over 48 months, charging a monthly interest for that balance. Thus Quality Cars is employing<u> installment accounts</u> in its business.
I need the options i cant answer if there are no oprions
Answer:
B. Cash 58,800 Accounts Receivable 58,800
Explanation:
Sale of 100 printers to Office Rental Company at $600 each and offered a 2% discount for payment within 10 days
Is Recorded as
Trade Receivable $ 58,000 (debit)
Revenue $58,000 (credit)
Being Recognition of an Asset - Trade Receivable and Recognition of Revenue less sales discount
On payment of full payment transaction is recorded as
Cash $ 58,000 (debit)
Trade Receivable $58,000 (credit)
Being De-recognition of Asset - Trade Receivable and Recognition of Revenue
