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3 years ago

When using a subsidiary ledger, the accounts receivable account in the general ledger is called the _______ account?

Business

2 answers:

vazorg [7]3 years ago

7 0

Its not receveable for sure already to the test and got it wrong

DerKrebs [107]3 years ago

3 0

I believe the answer is controlling account.

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Suppose Ruston Company has the following results related to cash flows for 2018: Increase in Debt of $700,000 Dividends Paid of

AveGali [126]

Answer:

Cash flow generated from financing activities 400,000

Cash flow used in Investing activities 7,800,000

Explanation:

700,000 debt receive

-500,000 dividends paid

200,000 other adjustment on Financing

400,000 TOTAL CASH GENERATED

-8,300,000 purchase of PPE

500,000 other adjustment on Inventing

-7,800,000 TOTAL CASH USED

Notice: There is no hint about the adjustment being related as negative, so it should be assuem are positive cashflow.

5 0

3 years ago

Ben bought a desk for $249.99. the sales tax rate was 6.25%. how much did ben pay for the desk? round your answer to the nearest

Lemur [1.5K]

Ben paid the value of the item + sales tax
Sales tax = 6.25% of worth of item.
Sales tax = (6.25/100) * 249.99 = $15.62.
Hence Ben paid $249.99 + $15.62 = $265.61
To the nearest cent he paid $265.60

3 0

4 years ago

Harold borrows $20,000 from Alex and signs a note promising to pay Alex this amount plus interest in one year. Alex negotiates t

Tomtit [17]

Answer:

Explanation:

Reese can recover from Alex.

4 0

3 years ago

Why is money management important? How would you rate your own money management?

sergey [27]

Answer:

because it has money

Explanation:

3 0

3 years ago

Read 2 more answers

Grocery Corporation received $330,654 for 9.50 percent bonds issued on January 1, 2018, at a market interest rate of 6.50 percen

andre [41]

Answer:

Explanation:

Issue price of bond = $330,654

Face Value = $272000

Premium on issue of bond = $330,654 - $272000 = 58654

Journal entry for bond issuance:

Cash Dr $330,654

Bonds Payable $272000

Premium on Bonds payable $58654

(Being bond issued at a premium of $58654)

As per effective interest method, interest expense = market rate * book value of bond

= 6.5% * $330,654 = $21492.5

Cash interest = $272000 * 9.5% = $25840

Premium to be amortized on interest date = $25840 - $21492.5 = $4347.5 or $4348

Journal entry for interest payment on December 31:

Account Financial Issuance Interest paid

Statement

Bonds payable Balance Sheet 272000

Discount on Bonds payable NA NA NA

Interest expense Income Statement 0 21492.5

Premium on Bonds Payable Balance Sheet 58654 -3813

Note: Interest expense for the year:

Interest to be paid ($272000 * 9.5%) 25840

Less: Amortization of Premium (58654/6.5) 3813

Interest expense 21492.5

Journal entry:

Interest expense Dr. 21492.5

Premium on Bonds payable Dr. 3813

Cash Account 25306

Note: here, it has been premium has been written on Straight line basis.

3 0

3 years ago