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2 years ago

The Marchetti Soup Company entered into the following transactions during the month of June:

Business

1 answer:

Lisa [10]2 years ago

8 0

Answer:

Cash account

debit credit

opening 70,000

2) 50,000

4) 230,000

5) 175,000

75,000

Accounts receivable account

debit credit

opening 53,000

3) 250,000

4) 230,000

73,000

Accounts payable account

debit credit

opening 32,000

1) 195,000

5) 175,000

52,000

Merchandise inventory account

debit credit

1) 195,000

3) 140,000

55,000

Wages expense account

debit credit

2) 50,000

Sales revenue account

debit credit

3) 250,000

COGS account

debit credit

3) 140,000

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Fresh-Cola Inc. is a manufacturer of carbonated drinks that packages its products in bottles, cans, and 12-pack cartons. A stand

Sloan [31]

Answer:

Fresh cola is using packaging as a part of its product differentiation strategy

Explanation:

A product differentiation strategy may require adding new functional features or might be as simple as redesigning packaging. Therefore Fresh cola is using packaging as a part of its product differentiation strategy since it changed its previous features to a new one

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2 years ago

On January 1, 2017, Ellison Co. issued eight-year bonds with a face value of $6,000,000 and a stated interest rate of 6%, payabl

sergiy2304 [10]

Answer:

Bond Price = $5,300,862.264 rounded off to $5,300,862.26

Explanation:

To calculate the price of the bond today, we will use the formula for the price of the bond. Assuming the bond is an annual bond, the semi coupon payment, number of periods and semi annual YTM will be,

Coupon Payment (C) = 6,000,000 * 0.06 * 6/12 = 180 ,000

Total periods (n) = 8 * 2 = 16

r or YTM = 0.08 * 6/12 = 0.04 or 4%

The formula to calculate the price of the bonds today is attached.

Bond Price = 180000 * [( 1 - (1+0.04)^-16) / 0.04] + 6000000 / (1+0.04)^16

Bond Price = $5,300,862.264 rounded off to $5,300,862.26

8 0

2 years ago

You publish a magazine for calculator collectors. to produce and distribute this magazine, you use a number of inputs: • compute

LekaFEV [45]

Answer: D

Options included in the questions are:

“A. The demand for the magazine shifts to the left, and the supply curve shifts to the right. The equilibrium price falls, with an unknown change in the equilibrium quantity.

B. The demand for the magazine does not change, supply curve shifts to the left. The equilibrium price rises, while the equilibrium quantity falls.

C. The demand for the magazine shifts to the right, and the supply curve shifts to the left. The equilibrium price rises, with an unknown change in the equilibrium quantity.

D. The demand for the magazine does not change, and the supply curve shifts to the right. The equilibrium price falls, but the equilibrium quantity rises.”

The answer is D.

The demand for the magazine does not change even if the price of the computers goes down. It is the equilibrium price that will fall due to decrease on the price of inputs resulting to increase in quantity of a magazine produced.

4 0

2 years ago

Read 2 more answers

A company receives payment from one of its customers on August 5 for services performed on July 21. Which of the following entri

rjkz [21]

Answer:

1- A) Cash (Dr.) $1,000

Accounts Receivable (Cr.) $1,000

2- b. Unearned Revenue

3- c. determining when to record revenue.

Explanation:

1- When a company sales its products to its customers on credit basis under accrual accounting system it records Accounts receivable as debit and sales as credit. At a later date when the customer pays the cash, the company makes adjusting entry; cash as debit and Account receivable as credit.

2- Cash basis accounting system is one in which revenues and expenses are only record when there is actual cash exchange which means revenue will be recorded only when cash is received from customers and expenses will be recorded when they are actually paid.

Accrual basis allows to record revenue when it is earned and expenses when they are billed. Unearned revenue account will only be used if the company is using accrual basis accounting.

3- Revenue recognition principle guides the account when to record revenue under cash basis and accrual basis accounting systems.

7 0

2 years ago

A building is acquired on January 1, at a cost of $960,000 with an estimated useful life of 10 years and salvage value of $86,40

nadezda [96]

Answer:

Year 1 - $192,000

Year 2 - = $153,600

Year 3 - $122,880

Explanation:

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life) = 2 x (1/10) = 0.2

Depreciation expense in the first year = 0.2 x $960,000 = $192,000

Book value at the beginning of year 2 = $960,000 - $192,000 = $768,000

Depreciation expense in year 2 = 0.2 x $768,000 = $153,600

Book value in year 3 = $768,000 - $153,600 = $614,400

Depreciation expense in year 3 = 0.2 x $614,400 = $122,880

I hope my answer helps you

4 0

2 years ago