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4 years ago

8

On july 9, coronado company sells goods on credit to wildhorse company for $4600, terms 2/10, n/60. coronado receives payment on

july 18. the entry by coronado on july 18 is:

1 answer:

Alexxx [7]4 years ago

3 0

<span>JULY 9 Accounts Receivable 4600 Sales 4600 JULY 12 CASH($4600 x 98%) 4508 Sales Discounts 92 Accounts Receivable 4600</span>

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Assume that Reed Company purchases 18,000 common shares of Aiello Company for $8 cash per share. During the year, Reed receives

Minchanka [31]

Answer:

option d is right

income does Reed report relating to this investment for the year is $34200

Explanation:

Given data

purchases shares = 18000

1 share value = $8

cash dividend = $.090 per common share

common stock = $9 per share

to find out

total income

solution

we know total income for year = total dividend + unrealized gain by the change of fair .....................1

we say here

total dividend received is purchases shares × cash dividend

total dividend = 18000 × 0.90

total dividend is $16200 .................2

and

Unrealized gain by change of fair = (common stock per share - 1 share value ) × purchases shares

Unrealized gain by change of fair = (9 - 8 ) 18,000

Unrealized gain by change of fair is $18,000 .................3

put equation 2 and 3 in equation 1 we get

total income for year = total dividend + unrealized gain by the change of fair

total income for year = 16200 + 18,000

income does Reed report relating to this investment for the year is $34200

option d is right

3 0

4 years ago

Analyze how taxes or emissions standards could reduce the economic inefficiency that arises in a competitive market with a negat

OverLord2011 [107]

Let's analyze in the case of manufacturer's emission that cause polution

Usually, these pollution-producing companies are regulated to pay several amount of money in order to rehabilitate the environment that caused by their harmful material.

This is really inefficient , if they have to repair it, why allow them to destroy the environment in the first place ?

That's how emission standards could reduce the inefficiency

7 0

3 years ago

For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense, (2) identify the

romanna [79]

Answer:

Please see explanation.

Explanation:

1. and 2.

Type of accounts Normal balance

a. Cash asset Debit

b. Legal Expense expense Debit

c. Prepaid Insurance asset Debit

d. Land asset Debit

e. Accounts Receivable asset Debit

f. Dividends equity Debit

g. License Fee Revenue revenue Credit

h. Unearned Revenue liability Credit

i. Fees Earned revenue Credit

j. Equipment asset Debit

k. Notes Payable liability Credit

l. Common Stock equity Credit

Journal entries to increase the balance:

Dr Cr

a. Cash Cash Revenue

b. Legal Expense Legal expenses Cash

c. Prepaid Insurance Prepaid Insurance Cash

d. Land Land Cash

e. Accounts Receivable Accounts receivable Revenue

f. Dividends Retained earnings cash

g. License Fee Revenue Cash License Fee Revenue

h. Unearned Revenue Cash Unearned revenue

i. Fees Earned Cash Fees Earned

j. Equipment Equipment Cash

k. Notes Payable Cash Notes Payable

l. Common Stock Cash Common Stock

7 0

3 years ago

Julie and Barry Spinos purchased a house for $96,400. They made a 25 percent down payment and financed the remaining amount at 5

Alinara [238K]

Answer: $79.30

Explanation:

Cost of the house = $96400

Down payment = 25% × $96400 = $24100

Mortgage = $96400 - $24100 = $72300

Interest = 5.5%

Time = 5 years

Monthly payment.= $410.66

The interest for first payment will be:

= $72300 × 5.5% × 1/12

= $72300 × 0.055 × 0.08333

= $331.36

Therefore, the amount of the first monthly payment is used to reduce the principal will be:

= $410.66 - $331.36

= $79.30

5 0

3 years ago

3. The store purchases used goods for resale from people that bring items to the store. Since that can occur anytime that the st

Dafna11 [192]

Answer:

Weakness 1 is signed paper are not stored in safe and secured location.

Weakness 2 is approval is not taken from any manager or person before purchasing the item from customers.

Explanation:

The store should keep a track in the system for the purchase of items from its customers. The store should get approval before purchasing the product and the cash dealing should be assigned to designated person who will be responsible for the payment to its customers. This will reduce chances of fraud as the cash will be handled by only one person and tracking will be easy.

3 0

3 years ago