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4 years ago

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In double-entry accounting, where should you record money that is leaving your company to pay bills? A. In the debits column B.

In the credits column C. In the asset column D. In the cash flow column

2 answers:

Andre45 [30]4 years ago

6 0

B. In the credits column

PtichkaEL [24]4 years ago

5 0

The Answer is B. In the credits column Hope this Helps

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A warranty that is created when a seller or lessor makes an affirmation that the goods he or she is selling or leasing meet cert

Y_Kistochka [10]

Answer:

d) <u>Express warranty</u>

Explanation:

Express warranty refers to the sort of warranty wherein the seller explicitly or clearly guarantees for the quality, reliability and durability of his product.

The seller in such cases expressly claims that if products do not meet the standards or quality as claimed by him, such products would be either repaired free of cost or replaced by another similar functional product.

For instance, in case of many watches, an express warranty written statement is accompanied and stamped by the dealer. In case the watches do not meet the mentioned claims, they are either repaired free of cost or replaced.

7 0

3 years ago

Can you get suspended for saying you’re going to curse someone out? (You said you were but you didn’t do it)

jok3333 [9.3K]

It depends on how you reacted. Did you throw something and yell it? Then yes. Did you just say it standing there? Then no.

5 0

3 years ago

Some of the transactions of Torres Company during August are listed below. Torres uses the periodic inventory method.

Nadya [2.5K]

Answer:

Purchase 12000 debit

Accounts Payable 12000 credit

--to record purchase--

Accounts Payable 1200 debit

Returns&Allowance 1200 credit

--to record returned goods--

Purchase 16000 debit

Accounts Payable 16000 credit

--to record purchase--

Purchase 20000 debit

Accounts Payable 20000 credit

--to record purchase--

Account Payable 16,000 debit

Purchase Discount 160 credit

Cash 15,840 credit

-to record payment within--

SECOND METHOD:

Purchase 11,760 debit

Accounts Payable 11,760 credit

--to record purchase--

Accounts Payable 1,176 debit

Returns&Allowance 1,176 credit

--to record returned goods--

Purchase 15,840 debit

Accounts Payable 15,840 credit

--to record purchase--

Purchase 19,600 debit

Accounts Payable 19,600 credit

--to record purchase--

Account Payable 16,000 debit

Cash 15,840 credit

-to record payment within--

interst expense 216 debit

account payable 216 credit

--to record interest incurred--

Explanation:

As we use periodic system we calculate the inventory and COGS at the end of the period so we use purchase and returns accounts rather than adjusting inventories in every transactions.

In the second method we use itnerest expense when the discount is loss.

<u><em>interest incurred for the period:</em></u>

(12,000 - 1,200) x 2% = 216

The secodn purchase at the end of the monthcan be paid within discount period therefore, we do not recognize interest expense yet.

3 0

4 years ago

Calculate the contribution to total performance from currency, country, and stock selection for the manager in the example below

alina1380 [7]

Answer:

A. Currency selection 4% loss relative to EAFE

B. Country Selection 1.80% loss relative to EAFE

C. Stock Selection -2.6%loss relative to EAFE

Explanation:

Calculation to determine the contribution to total performance from currency, country, and stock selection for the manager in the

A. Calculation for CURRENCY SELECTION

Using this formula

EAFE / Manager weight * Currency appreciation ( E1 / E0 - 1 )

Let plug in the formula

EAFE =[ 0.6 * ( 1 - 1 ) ] + [ 0.3 * ( 1.4 - 1 ) ] + [ 0.1 * ( 1.2- 1 ) ]

EAFE= 0+0.12+0.02

EAFE=14%

Manager =[ 0.6 * ( 1- 1 ) ] + [ 0.1 * ( 1.4 - 1 ) ] + [ 0.3 * ( 1.2- 1 ) ]

Manager=0+0.04+0.06

Manager=10%

Loss relative to EAFE=(10%-14%)

Loss relative to EAFE=4%

4% loss relative to EAFE

B. Calculation for COUNTRY SELECTION

Using this formula

EAFE/ Manager weight × Return on Equity Index

Let plug in the formula

EAFE = [ 0.6 * 15% + 0.3 * 16% + 0.1* 20% ]

EAFE = 0.09+0.048+0.02

EAFE = 15.8%

Manager = [ 0.6 * 12% + 0.1 * 17% + 0.3 * 17% ] Manager =0.072+0.017+0.051

Manager =14%

Loss relative to EAFE=15.8%-14%

Loss relative to EAFE=1.80%

1.80% loss relative to EAFE

C. Calculation for STOCK SELECTION

Using this formula

Stock Selection=( Manager’s return - Return on Equity Index ) × Manager weight

Let plug in the formula

Stock Selection=[ ( 12% - 15% ) * 0.6 ] + [ ( 17% - 16% ) * 0.1 ] + [ ( 17% - 20% ) * 0.3 ]

Stock Selection=-0.018+0.001+-0.009

Stock Selection=-2.6%

-2.6% loss relative to EAFE

3 0

3 years ago

Myriad Solutions, Inc., issued 10% bonds, dated January 1, with a face amount of $320 million on January 1, 2018, for $283,294,7

Olegator [25]

Answer:

<u>Balance sheet:</u>

Net liability = $285,349,947

<u>Income statement:</u>

Interest expense = $34,055,227

Statement of cash flows:

Operating: $32,000,000

Investing: Nil

Financing: $283,294,720

Explanation:

The workings are attached:

<u>Balance sheet</u>

Net liability = carrying value at the end of the year = $285,349,947

This will appear in the balance sheet as net liability.

<u>Income statement:</u>

Interest expense will be appearing in the income statement.

Interest expense = $32,000,000

<u>Statement of cash flows:</u>

<u>Operating cash flow:</u>

Cash flow from operating activities (CFO) indicates the amount of money a company brings in from its ongoing, regular business activities, such as manufacturing and selling goods or providing a service to customers. It is the first section depicted on a company's cash flow statement.

Operating: It is the interest expense = $32,000,000

Investing cash flow:

Cash flow from investing activities is one of the sections on the cash flow statement that reports how much cash has been generated or spent from various investment-related activities in a specific period. Investing activities include purchases of physical assets, investments in securities, or the sale of securities or assets.

Investing: This will be nil, as this is not an investment

Financing cash flow

Cash flow from financing activities (CFF) is a section of a company's cash flow statement, which shows the net flows of cash that are used to fund the company. Financing activities include transactions involving debt, equity, and dividends

Financing: This will be the $283,294,720

4 0

4 years ago