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atroni [7]
3 years ago
14

The following are selected 2017 transactions of Blue Corporation. Sept. 1 Purchased inventory from Encino Company on account for

$44,800. Blue records purchases gross and uses a periodic inventory system. Oct. 1 Issued a $44,800, 12-month, 8% note to Encino in payment of account. Oct. 1 Borrowed $44,800 from the Shore Bank by signing a 12-month, zero-interest-bearing $49,760 note. Prepare the necessary journal entries: g
Business
1 answer:
zhannawk [14.2K]3 years ago
8 0

Answer:

Sept 1

Dr Purchase $44,800

Cr Account payable $44,800

Oct 1

Dr Account payable $44,800

Cr Note payable $44,800

Oct 1

Dr Cash $44,800

Dr Discount on note payable $4,960

Dr Note payable $49,760

Explanation:

Blue Corporation Journal entry

Sept 1

Dr Purchase $44,800

Cr Account payable $44,800

Oct 1

Dr Account payable $44,800

Cr Note payable $44,800

Oct 1

Dr Cash $44,800

Dr Discount on note payable $4,960

($49,760-$44,800)

Dr Note payable $49,760

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. Unique Games, a not-for-profit entity organized to provide athletic competition opportunities for high school students, utiliz
eimsori [14]

Answer:

The answer is $0.

Explanation:

Contributed service revenue or contributed revenue can be defined as the service or goods received with no payment or any other kind of exchange.

So in this question, the work from the volunteers and the film from CPA can be all accounted for contributed service revenue.

If we calculate them;

  • The movie costs $60 per hour so at 60 hours, it would cost $3600.
  • The 50 volunteers worked a total of 1000 hours, at $6 per hour, the total cost is $6000.

But since Unique Games are a non-profit entity, the amount they should recognize as contributed service revenue is $0.

I hope this answer helps.

8 0
4 years ago
Fresnas Inc. is a furniture manufacturing company. It has taken the initiative of incorporating social responsibility as one of
Evgen [1.6K]

Answer:

Green marketing.

Explanation:

Green marketing is promotion and selling of products that are environmental friendly. The product should be produced in an envimentally friendly process and should be sustainable. As is seen in the example of Fresnas Inc, they are using recycling as a sustainable environment friendly process to produce goods, while making more profit.

7 0
3 years ago
LeBlanc Inc. currently has earnings of $10 per share, and investors expect that the earnings per share will grow by 3 percent pe
ki77a [65]

Answer:

Stock Price of LeBlanc in four years = $37.517

Explanation:

Dividend Discount model is as follows:

P_4 = \frac{D_5}{K_e - g}

Where,

P_4 = Price of share at end of four years

D_5 = Dividend to be paid at end of 5th year

K_e = return on equity or cost of equity

g = growth rate

Now we have the information as follows:

Dividend at 5th year end = ((($3 per share + 3%) + 3%) + 3%) +3% = 3.765

Cost/ Return on equity = 12%

Growth rate = 3%

Therefore price = \frac{3.3765}{0.12 - 0.03}

= \frac{3.3765}{0.09}

Stock Price of LeBlanc in four years

= $37.517

8 0
4 years ago
Inventory and safety stock planning ________. leads to the development of the overall demand forecast leads to the development o
NARA [144]

<u>Answer: </u>leads to the development of a sourcing plan

<u>Explanation:</u>

Inventory planning includes the safety stock planning. Safety stock planning means the additional maintenance of the stock to avoid the situation of being completely out of stock when needed. Safety stock acts as the buffer stock during the times of unexpected sudden increase in demand.

Through inventory and safety planning the goods can be accumulated based on the sale or the production of the firm. These things lead to the development of the source planning.

8 0
3 years ago
Suppose that the inverse demand equation is p​ = 100 minus 2Q and the supply equation is p​ = 2Q. If the price is controlled at
Irina18 [472]

Answer: P =$50

Q= 25

Explanation: P= 100-2Q

P= 2Q

To get the quantity supplied Q, we have to educate both equations

100-2Q=2Q, 100=2Q+2Q

100=4Q, Q=100/4 , Q=25

To get the equilibrium price we have to substitute the value of Q which is 25 into any of the equation.

Using equation 1

P=100-2Q, P=100-2(25)

P=100-50, P=$50.

If the price is controlled at $60, then the production pays the producer this is because a commodity is not expected to be sold at the equilibrium price, price flooring is a way that government or a group control the market price of a commodity or produce by imposing a particular price on it. This is to ensure that the producers are not at loss with their production, a price floor is always higher than the equilibrium price to be effective as seen in the example given above, price floor is $60 while equilibrium price is $50.

An example of a price floor for services can be seen in the minimum wage stated by the government this is to ensure that people's services are not misused anyhow.

Price flooring most times can lead to surplus quantity produced if consumers are not willing to pay the price, because the producer will be wiling to produce more in order to make more profit.

4 0
3 years ago
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