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Maru [420]
3 years ago
15

The journal entry to record a note received from a customer to replace an account is

Business
1 answer:
Reika [66]3 years ago
3 0

<span>The journal entry to record a note receivable is a debit to notes receivable and credit to accounts receivable. The account receivable is credited as the note receivable is replaced this is done if the account is already past due. </span>

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Mortensen Industries, which uses a process-costing system, adds material at the beginning of production and incurs conversion co
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Answer: 60%

Explanation:

Find the ending work in process.

Materials are complete at inception so the Equivalent units of Materials represent the total units.

Ending WIP will therefore be:

= Materials EUP - Units started and completed

= 5,000 - 3,500

= 1,500 units

Stage of completion is based on Conversion.

Conversion EUP = Total started and completed + (x% * Closing WIP)

4,400 = 3,500 + (x% * 1,500)

4,400 = 3,500 + 15x

15x = 4,400 - 3,500

15x = 900

x = 900/15

x = 60%

<em>Conversion is 60% complete so this is the stage of completion. </em>

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Answer: $7.50

Explanation:

Given that,

Total value = $950 million

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common equity = $200 million

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Value of equity = Value of firm - Value of preferred stock - Value of long term debt.

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Value\ of\ stock = \frac{Value\ of\ equity}{Number\ of\ shares}

Value\ of\ stock = \frac{750}{100}

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