Answer:
unrealized loss 38,070 debit
account payable 38,070 credit
Explanation:
as the commitment is for 382,800
but the price lower to 345,730
there is a loss for thecompany as will be doing a purchase for a higher price than market: 38,070
But, as the contract has not been completed the loss is unrealized price can change in the future as well therefore it will not be reocgnize right away and no impact in the income statmeent it will be part of other comprehensive income.
In game theory, economic participants are referred to as "players". Game theory consists in the use of mathematical models in order to predict the behaviour of rational decision-makers in cooperative and competitive environments.
Answer:
Discount on note receivable and deferred charge.
Explanation:
The present value of the notes receivable has to be recorded by Jole Co. The reason this should be recorded as discount on note receivable is that the $10,000 will not be paid immediately but will be due for payment 3 years from the date the note was issued.
A deferred charge is an expense paid in advance and it is recorded and carried forward yearly in the balance sheet as an asset until when it is totally consumed or used. The 10% discount received by Jole Co. in the exchange agreement is a payment in advance and it will be recorded by Jole Co. as deferred charge. The reason is that it is a discount on the future purchase from the supplier over the next three years of a given amount of merchandise from the market price list.
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Answer:
Karns Company
Perpetual inventory system
1) Merchandise Inventory $174,000 Dr.
Account Payable $ 174,000 Cr
Karns Company purchased merchandise on account from Bailey Office Suppliers for $ 174.000, with terms of 2/10, n/30
2) Account Payable $ 6,800 Dr.
Merchandise Inventory $ 6,800 Cr.
Karns returned some merchandise and paid S1S6.800 as payment in full
Answer: like what type of three ways are they talking about ?...??.?
Explanation:
