The question is incomplete. The complete question is as follows,
At December 31, 2011 the accounting records of Gordon, Inc. contain the following items:
Accounts Payable 2500
Land 30000
Building 31250
Notes Payable ?
Retained earnings 125000
Accounts Receivable 18750
Cash ?
Equipment 40000
Capital Stock 12500
If the Notes Payable is $10,000, the December 31, 2011 cash balance is:
Answer:
Cash = $30000
Explanation:
The accounting equation states that the sum of total assets is always equal to the sum of total liabilities plus total equity. We can state the equation as follows,
Total Assets = Total Liabilities + Total Equity
So,
(30000 + 31250 + 18750 + 40000 + Cash) = (2500 + 10000) + (125000 + 12500)
120000 + Cash = 12500 + 137500
Cash = 150000 - 120000
Cash = $30000
Answer:
Inventory balance will be of 73,318
Explanation:
Inventory 75,400
Account payable 75,400
to record goods received
Account payable 1,300
Inventory 1,300
to record return of goods
Inventory 700
Cash 700
to record payment of freight
Account Payable 74,100
Inventory 1,482
Cash 72,618
to record payment of invoice within discount period
75,400 - 1,300 = 74,100
74,100 x 2% = 1,482
Inventory balance:
<em> DEBIT CREDIT</em>
75,400
1,300
700
1,482
<u><em>balance: </em></u>
73,318
From what I understood in the problem, the total budget that covers all types of media is only $1,000 per month. For the allocation, each type of media would get at least 25% of the budget. If we infer on this information, there should only be 4 types of media, at least. This is because four 25% portions would equal to 100%. If it exceeds 25% for each of the four types, it would be over the $1000 budget. With that being said, it is also possible that there will be 3 or 2 types of media. Nevertheless, let's just stick to the least assumption of 25% for each of the 4 types.
If local newspaper advertising is one of the four types, then:
$1000(25%) = $250
It would get $250 from the overall budget.
Answer:
present value = $848.29
so correct option is c) $848
Explanation:
given data
bond sold = $100 million
time = 6 year
future value = $1,000 par value
original maturity = 20 years
years to maturity left = 14 years
annual coupon rate = 11.5%
require return = 14%
to find out
what price would you pay today for a James bond
solution
we get here first interest amount that is
interest = future value × annual coupon rate × 0.5
interest = 1000 × 11.5% × 0.5
interest = $57.50
and rate = 
rate = 7%
now we find present value by
PV(Rate,nper, pmt, FV)
PV ( 7%, 28, 57.50,1000)
present value = $848.29
so correct option is c) $848
Answer:
A: $1,475,000
Explanation:
The computation of the overhead applied is shown below:
But before that first determine the predetermined overhead rate which is
= Estimated annual overhead cost ÷ Estimated machine hours
= $1,500,000 ÷ 300,000
= $5
Now the applied overhead is
= Predetermined overhead rate × Actual machine hours
= $5 × 295,000
= $1,475,000
