The industrial revolution pushed workers into which sector of the economy?

On July 1, 2020, Riverbed Inc. made two sales.

V125BC [204]

Answer:

Riverbed Inc.

Journal Entries:

1. Debit 0% 4-year Promissory Notes Receivable $1,435,565

Credit Land $597,200

Credit Gain on Sale of Land $315,130

Credit Interest Revenue $523,235

To record the sale of land in exchange for a note with face value of $1,435,565

2. Debit 3% 8-year Promissory Note Receivable $401,660

Credit Service Revenue $162,224

Credit Interest Revenue $239,436

To record the rendering of service in exchange for a note with face value of $401,660.

Explanation:

a) Data and Analysis:

July 1, 2020:

1. 0% 4-year Promissory Notes Receivable $1,435,565 Land $597,200 Gain on Sale of Land $315,130 Interest Revenue $523,235

From an online financial calculator, the PV and Interest:

N (# of periods) 4

I/Y (Interest per year) 12

PMT (Periodic Payment) 0

FV (Future Value) 1435565

Results

PV = $912,330

Total Interest $523,235

Gain on Sale of Land:

Fair value of the land = $912,330

Book value of the land 597,200

Gain on sale of land = $315,130

2. 3% 8-year Promissory Note Receivable $401,660 Service Revenue $162,224 Interest Revenue $239,436

From an online financial calculator, the PV and Interest:

N (# of periods) 8

I/Y (Interest per year) 12

PMT (Periodic Payment) 0

FV (Future Value) 401660

Results

PV = $162,224

Total Interest $239,436

8 0

3 years ago

Mister Plow has contracted to perform snow removal services for the city of Springfield. Record snowfall has more than doubled t

trasher [3.6K]

Answer:

Fixed price contract

Explanation:

A fixed price contract states that price for services rendered is fixed as mentioned in the contract irrespective of time taken and resources used.

Price cannot be revised in case effort and time has increased more than expected. In this case, Mister Plow cannot ask for more money as service contracts are fixed price contracts and terms of contract including price cannot be changed.

7 0

3 years ago

How many of the following transactions are operating activities?

Lady bird [3.3K]

Answer:

The correct answer are A, B and D

Explanation:

Operating activities are the one of three activities of the cash flow, these activities are those which are incurred for the business and are directly related to providing its services or goods to the market. These are the core business activities of the company like selling service, manufacturing, distributing and marketing.

The following are the transactions of operating activities:

1. Paid the utility bill amounts to $750

2. Purchased supplies for $12,000

3. Borrowed from bank amount of $50,000

6 0

3 years ago

What is the difference between a vocational school and on the job training

LenKa [72]

A vocational school, sometimes called a trade school or vocational college, is a type of educational institution, which, depending on country, may refer to secondary or post-secondary education designed to provide vocational education, or technical skills required to perform the tasks of a particular and specific job

5 0

3 years ago

Read 2 more answers

Cooper’s Brakes, Inc., enters into a contract with Byron’s Service to fix Cooper’s hydraulic equipment. Byron delays the repair

Dennis_Churaev [7]

Answer:

The answer is: Compensatory damages

Explanation:

Compensatory damages refers to money awarded to a plaintiff in a civil case (in this case Cooper's Brakes) to compensate for incurred losses (or injuries, etc. in other cases). The plaintiff has to prove that the losses he suffered were caused by negligence or unlawful conduct of the defendant (Byron's Service). The plaintiff has to be able to quantify (in monetary terms) the damages it suffered.

4 0

4 years ago