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3 years ago

7

Rocky industries received its telephone bill in the amount of $300 and immediately paid it. rocky's journal entry to record this

transaction will include a:

1 answer:

loris [4]3 years ago

8 0

Hi there

The journal entry would be

debit to telephone expense for $300
Credit to cash for $300

Good luck!

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It is now January 1. You plan to invest a total of 5 consecutive, equal deposits, one every 6 months, with the first payment bei

FinnZ [79.3K]

Answer:

$2,848.94

Explanation:

first of all, we must determine the amount of money that we need to have in our account in order to be able to withdraw $25,000 in 10 years.

You will start making your semiannual deposits today and they will end in exactly 2 years, so we need to find out the present value of the $25,000 in two years:

PV = $25,000 / (1 + 3%)¹⁶ = $15,579.17

that is now the future value of our annuity due:

FV = semiannual deposit x FV annuity due factor (3%, 5 periods)

$15,579.17 = semiannual deposit x 5.46841

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3 years ago

The price of milk at the local grocery store is cut by 15%. In response to the price cut, the quantity of milk demanded falls by

Crank

Answer:

the absolute value is -0.33 and it is inelastic

Explanation:

The computation is shown below:

The Absolute value of Price Elasticity of Demand (PED) is

= Percentage Change in Quantity Demanded ÷ Percentage Change in Price

= 0.05 ÷ (-0.15)

= -0.33

Since the price elasticity of demand is less than one so here there is an inelastic demand

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3 years ago

Klingon Cruisers, Inc., purchased new cloaking machinery five years ago for $20 million. The machinery can be sold to the Romula

gladu [14]

Answer:

a. $16,426,000

b. $19,080,000

Explanation:

a. What is the book value of Klingon's assets today?

Book value of assets refer to the value of the total value of the assets of a company on its balance sheet after depreciation, impairment and amortization have been deducted.

This can be calculated for this question as follows:

Book value of Klingon's assets today = Book value of current assets + Book value of fixed assets

Book value of fixed assets = $15,500,000

Book value of current assets = Current liabilities + Net working capital = $700,000 + $226,000 = $926,000

Therefore, we have:

Book value of Klingon's assets today = $15,500,000 + $926,000 = $16,426,000

b. What is the market value?

Market value refer to the amount that can be realized from selling something such as the assets of a company.

This can be calculated for this question as follows:

Market value = Machinery sales amount + Current asset liquidated amount = $18,000,000 + $1,080,000 = $19,080,000

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3 years ago

DIA [1.3K]

The correct answer would be 2.)chain stores.

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3 years ago

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If we control for ________, which takes into account deflation and reflects the average well-being of the Japanese people, in th

bonufazy [111]

Answer:

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So if we considered purchase price parity in the per capita GDP calculations, we will notice Japanese growth simply wavered during the 1990s.

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3 years ago