Answer:
the amount that should be paid is $11,292
Explanation:
The computation of the amount that should be paid is shown below:
Present worth is
= $10,000 + $75(P/A, 6%, 10) + $25(P/G, 6%, 10)
= $10,000 + $75 × 7.3601 + $25 × 29.6023
= $11,292
Hence, the amount that should be paid is $11,292
We simply applied the above calculation
Answer:
$2,600 in the Accounts Receivable Dr./Sales Cr. column and $1,700 in the Cost of Goods Sold Dr./Inventory Cr. column.
Explanation:
If we assume that Maxie's Game World uses a perpetual inventory system, the appropriate journal entries should be:
Date XXX, merchandise sold on credit to client YYY, terms 1/10, n/30
Dr Accounts receivable 2,600
Cr Sales revenue 2,600
Dr Cost of goods sold 1,700
Cr Merchandise inventory 1,700
The annual interest rate is 11.803%.
Assumptions:
- Interest is compounded annually.
Answer: Statement D
Explanation: If a company accept a special order then it must be doing so in order to gain or maximize its profits and the profits will only increase when there is an increase in net income.
Thus, statement D is correct implying that net income will increase when the sales price in greater than the variable cost.
Answer:
(A) loss of $1,225
Explanation:
Net book value is the value at which an organization or company records an asset in its balance sheet. Net book value is the original cost of an asset, without adding the depreciation, depletion, amortization, that has been accrued at the period oof the asset's useful life. So if an asset with a net book value of $1,225 was discarded, having no market value, the same amount ($1,225) will be the value recorded as a loss by the company's accountant.
