A company issued 70 shares of $30 par value preferred stock for $4,000 cash. The journal entry to record the issuance is:

A recent annual report for FedEx contained the following data:

Maru [420]

FedEx

Accounts Receivable Turnover

Numerator Net Credit Sales = 35,687 = 9.02 times

Denominator Average Accounts Receivable (4415+ 3495)/2

Average Daily Accounts Receivable Turnover

Numerator Days in 4 Years = 0.365 4 4 = 46 debt turnover ratio of 9.02

Credit is generally defined as an agreement between a lender and a borrower. Credit also refers to the creditworthiness or credit history of an individual or entity. In accounting, loans can reduce assets or increase liabilities, and can reduce expenses or increase income.

In personal banking or financial accounting, a credit is an entry indicating that money has been received. Normally, a checking account register has the balance (deposits) on the right and the debits (money spent) on the left. In a loan, all the requested amount is given at once at the time of lending, whereas in a loan, the bank uses the full amount of the loan to give the customer an amount that can be used as needed.

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7 0

1 year ago

Leona bought two different brands of wine from vineyards in Australia. When asked for her opinion about the wines, she said that

liraira [26]

Answer:

Post-Purchase Evaluation.

Explanation:

There are five stages of purchase decision making process as given below

Problem Recognition.
Information Search.
Evaluation of Alternatives.
Purchase Decision.
Post-Purchase Evaluation.

Since Leona has bought the product it will be post purchase act and also she is examining the taste of product, she is in the evaluation process of the product and hence she is in post purchase evaluation stage of buyer decision process.

3 0

3 years ago

Wimpy Inc. produces and sells a single product. The selling price of the product is $185.00 per unit and its variable cost is $5

Aleonysh [2.5K]

The formula for the calculation is

CM ratio = Unit contribution margin ÷ Unit selling price

The break-even in monthly dollar sales is closest to $578,100

Explanation:

The formula for the calculation is

CM ratio = Unit contribution margin ÷ Unit selling price

Given that

Selling price of the product=$185.00 per unit

variable cost=$55.50 per unit

fixed expense=$404,670 per month

= ($185.00 per unit − $55.50 per unit) ÷ $185.00 per unit

= $129.50 per unit ÷ $185.00 per unit = 0.70

Dollar sales to break even = Fixed expenses ÷ CM ratio

= $404,670 ÷ 0.70

= $578,100

The break-even in monthly dollar sales is closest to $578,100

7 0

3 years ago

Investing in stocks and bonds is risky because it is possible to lose all or part of your principal.

Aneli [31]

It's true investing in stocks and bonds is risky because it is possible to lose all or part of your principal.

Investors are unlikely to demand the same returns on their stock investments year after year. Market yields can be expressed as the sum of government bond yields and market risk premiums.

Yes. If you sell bonds before their maturity date, you may incur a loss as the sale price may be lower than the purchase price. Also, if an investor purchases a bond and the company faces financial difficulties, the company may not be able to return all or part of the original investment to the bondholders.

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8 0

2 years ago

For the coming year, River Company estimates fixed costs at $109,000, the unit variable cost at $21, and the unit selling price

zzz [600]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Fixed costs= $109,000

Unit variable cost= $21

Selling price= $85.

To calculate the break-even point in units, we need to use the following formula:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 109,000/ (85 - 21)

Break-even point in units= 1,703 units

Now, we need to include the desired profit:

Break-even point in units= (fixed costs + desired profit) / contribution margin per unit

Break-even point in units= (109,000 + 150,000) / 64

Break-even point in units= 4047 units

Sales= 500,000

Variable cost= 5,882*21= (123,522)

Contribution margin= 376,478

Fixed costs= (109,000)

Net operating income= $267,478

8 0

2 years ago