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Sholpan [36]
3 years ago
6

The following are selected 2017 transactions of Sean Astin Corporation.

Business
1 answer:
Vadim26 [7]3 years ago
8 0

Answer and Explanation:

The Journal entries are shown below:-

A. a. Purchase Dr, $50,000

           To Accounts payable $50,000

(Being purchase of inventory is recorded)

b.Accounts payable Dr, $50,000

            To Notes payable $50,000

(Being issuance of notes is recorded)

c.Cash Dr, $50,000

  Discount on notes payable Dr, $4,000

             To Notes payable $54,000

(Being amount borrowed from bank and issued notes is recorded)

B. a. Interest expenses Dr, $1,000 ($50,000 × 8% × 3 ÷ 12)

            To Interest payable $1,000

(Being interest expenses is recorded)

b. Interest expenses Dr, $1,000 ($4,000 × 3 ÷ 12)

                 To Discount on notes payable $1,000

(Being interest expenses is recorded)

C. The Computation of interest-bearing note and the zero-interest-bearing note is shown below:-

Interest-bearing note = Note payable + Interest payable

= $50,000 + $1,000

= $51,000

Zero-interest-bearing note = Note payable - Discount

= $54,000 - ($4,000 - $1,000)

= $54,000 - $3,000

= $51,000

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( WILL GIVE BRAINLIEST!!!) Type the correct answer in the box. Spell all words correctly.
aleksklad [387]

Answer:

0.90

Explanation:

The debt to equity ratio is a type of leverage ratio. It is also known as a risk ratio. It is calculated using the formula below.

Debt to Equity Ratio=Total Shareholders Equity/ Total Liabilities​​.

Shareholders' equity is comprised of retained earnings, share capital, income, and dividends.

Total liabilities are the current liabilities plus long term liabilities.

For Creatz Ltd, Total liabilities are $3500 + $7500= $11,000

Shareholders is $10,000

debt to equity ration

= $10,000/$11,000

=0.90

8 0
2 years ago
Beate Klingenberg manages a​ Poughkeepsie, New​ York, movie theater complex called Cinema 8. Each of the eight auditoriums plays
hichkok12 [17]

Answer:

A) 1.79

b) 71%

c) 0.75 minutes

d) 0.537 minutes

e) 0.343, 0.240 , 0.1681

Explanation:

L = average number of customers in the system ( 200 / 80 ) = 2.5

a = poission distribution per hour = 200

b = service rate of cashier = 280

A) average number of moviegoers waiting in line to purchase ticket

Lq = L - \frac{a}{b} = 2.5 - (200/280) = 2.5 - 0.71 = 1.79

B) percentage of cashier been busy

p = a/b = 0.71 = 71%

C) average time spent by a customer in the system

w = L / a = 2.5 / 200 = 0.0125 hours = 0.75 minutes

D) average time spent waiting in line to get to the ticket window ?

W2 = Lq / a = 1.79 / 200 = 0.00895 hours = 0.537 minutes

E) probabilities of people in the system

i) more than two people

p ( x ≥ 2 ) = 1 - ( p0 + p1 + p2 ) = 1 - 0.657 = 0.343

more than three people

ii) p ( x ≥ 3 ) = 1 - (p0 + p1 + p2 + p3 ) = 1 - 0.7599 = 0.240

iii) more than four people

p ( x ≥ 4 ) = 1 - ( p0 - p1 + p2 + p3 + p4 ) = 1 - 0.8319 = 0.1681

3 0
2 years ago
For each of the following transactions, determine if Raymond Corporation has earned revenue during the month of May and, if so,
kompoz [17]

Answer:In the month of May, Revenue was only earned from Customer C $3,400 and customer D, $2,300. Revenue was not earned from Customers A and B in the month of May. Therefore, total revenue is $5,700.

Explanation:In accordance with the principle of revenue recognition,Revenue will only be recognised when it is earned and services when they are fully rendered. For Customer A, the service has not been rendered, Therefore, the revenue is not yet earned.

For customer B, Although agreement has been reached and goods delivered, since payment hasn't been received, revenue is not recognised.

6 0
3 years ago
Ace Leasing acquires equipment and leases it to customers under long-term sales-type leases. Ace earns interest under these arra
raketka [301]

Answer:

The lease payment will be for $ 113,751.173  during 5 years beginning at the moment the lease is signed

Explanation:

First, we discount the payment at the end of the lease

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity  $150,000

time        5 years

rate        0.06

\frac{150000}{(1 + 0.06)^{5} } = PV  

PV   112,088.7259

Now we subtract form the 620,000 to know the amount to be perceived form the lease payment:

620,000 - 112,089 = 507.911‬

Now we solve  the PMT which makes the annuity-due of 5 payment at the beginning of the period:

PV \div \frac{1-(1+r)^{-time} }{rate} (1+r)= C\\

PV $507,911.0000

time 5

rate 0.06

[tex ]507,911 \div \frac{1-(1+0.06)^{-5} }{0.06}(+0.06) = C\\[/tex]

C  $ 113,751.173

3 0
2 years ago
A manager is hired by a start-up for her demonstrated ability to think strategically and make broad-based decisions that serve t
STatiana [176]

Answer:

Conceptual Skills

Explanation:

According to my research on studies conducted by various psychologists, I can say that based on the information provided within the question the manager was most likely hired for her Conceptual Skills. This is the ability that an individual may possess to analyze hypothetical situations in order to gain valuable information and develop strategies. Which allows that individual to make certain big decisions in benefit of the company.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

6 0
3 years ago
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