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3 years ago

Which of the following modifications to the list of assets and liabilities below would result in a net worth of 100,000

Business

2 answers:

butalik [34]3 years ago

7 0

Recreational vehicle value decreasing to $100,000

makvit [3.9K]3 years ago

3 0

Answer:

adding 1000 $ in credit card debt

Explanation:

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Sutton Pointers Corporation expects to begin operations on January 1, 2015; it will operate as a specialty sales company that se

Neporo4naja [7]

Answer:

a. January= $300,000, February = $345,000 and March = $396,750

b. $1,041,750

c. January= $198,000, February = $296,700 and March = $374,205

d. $22,545

Explanation:

Sales Budget [to determine sales revenue]

January = $300,000

February ($300,000 × 1.15) = $345,000

March ($300,000 × 1.15^2) = $396,750

Revenue for the quarter = $1,041,750

Cash Receipts Schedule [to determine receipts and receivables balance]

January February March

Sales $300,000 $345,000 $396,750

Receipt - 66% ($198,000) ($227,700) ($261,855)

Receipt - 23 % - ($69,000) ($79,350)

Receipt - 11 % - - ($33,000)

Total Receipts ($198,000) ($296,700) ($374,205)

Account Receivable $102,000 $48,300 $22,545

6 0

3 years ago

Precision Castparts, a manufacturer of processed engine parts in the automotive and airline industries, borrows $39.1 million ca

valina [46]

Answer:

1. Dr Cash $39.1 million

Cr Notes Payable $39.1 million

Dr Notes Receivable $39.1 million

Cr Cash $39.1 million

2. Dr Interest Expense $879,750

Cr Interest Payable $879,750

Dr Interest Receivable $879,750

Cr Interest Revenue $879,750

3. Journal entry for Precision Castparts

Dr Notes payable $39.1 million

Dr Interest expense $2,639,250

Dr Interest payable $879,750

Cr Cash $42,619,000

Journal entry for Midwest Bank

Dr Cash $42,619,000

Cr Notes receivable $39.1 million

Cr Interest receivable $879,750

Cr Interest revenue $2,639,250

Explanation:

1. Preparation of the journal entry to Record the necessary entry for the scenarios given .

Dr Cash $39.1 million

Cr Notes Payable $39.1 million

Dr Notes Receivable $39.1 million

Cr Cash $39.1 million

2. Preparation of the journal entry to Record the adjustments on December 31, 2018.

Dr Interest Expense $879,750

Cr Interest Payable $879,750

(39.1 million*9%*3/12)

Dr Interest Receivable $879,750

Cr Interest Revenue $879,750

(39.1 million*9%*3/12)

3. Preparation of the journal entry on September 30, 2016, to record payment of the notes payable at maturity

Journal entry for Precision Castparts

Dr Notes payable $39.1 million

Dr Interest expense $2,639,250

($39.1 million*9%*9/12)

Dr Interest payable $879,750

(39.1 million*9%*3/12)

Cr Cash $42,619,000

($39.1 million+$2,639,250+$879,750)

Journal entry for Midwest Bank

Dr Cash $42,619,000

($39.1 million+$2,639,250+$879,750)

Cr Notes receivable $39.1 million

Cr Interest receivable $879,750

(39.1 million*9%*3/12)

Cr Interest revenue $2,639,250

($39.1 million*9%*9/12)

4 0

3 years ago

Issues of growth are generally considered in: Multiple Choice neither the short-run nor the long-run frameworks. the short-run f

liraira [26]

Answer:

the long-run framework.

Explanation:

In Economics, Growth can be defined as an increase or rise in the level of output and production of goods and services over a specific period of time by a business entity.

Issues of growth are generally considered by economists in the long-run framework because growth itself is a long-run phenomenon in economics.

A long-run growth refers to the continuous and sustained increase in the level of output of goods and services or quantity of production that a business is able to achieve.

Hence, all of the four factors of production affects the level of growth that is being experienced by an individual or organization. These factors are;

1. Capital.

2. Labor.

3. Land.

4. Entrepreneur.

<em>In a nutshell, business owners and economist usually consider the growth of a business as a long-run phenomenon rather than as a short-run phenomenon. </em>

7 0

3 years ago

Which of the following combinations of monetary and fiscal policies would have the GREATEST effect on fighting inflation?

AVprozaik [17]

<span>increase the prime lending rate and decrease government spending</span>

7 0

3 years ago

Tile Depot, specializing in retail of construction materials, carries a popular flooring tile. The annual demand is estimated to

natta225 [31]

Answer: D. 500

Explanation:

The Economic Order Quantity (EOQ) refers to an efficient number of units that a company should order to minimize the total costs of inventory such as holding costs, order costs, and shortage costs.

It is calculated by the formula below,

EOQ = √ (2 * Annual demand * Ordering Cost / Holding Cost)

EOQ = √ (2 * 5,000 * 250 /10)

EOQ = 500 units.

The economic ordering quantity (EOQ) for this item is 500 units.

6 0

3 years ago