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Zigmanuir [339]
3 years ago
15

John has $ 1.35 $1.35 in nickels and dimes in his pocket. He has six more nickels than he does dimes. How many of each does he h

ave?
Business
1 answer:
Eduardwww [97]3 years ago
7 0

Answer:

John has 7 dimes and 13 nickels

Explanation:

let N = nickels

let D = dimes

5N + 10D = 135

N = D + 6

5(D + 6) +10D = 135

5D + 30 + 10D = 135

15D = 135 - 30 = 105

D = 105 / 15 = 7

N = D + 6 = 7 + 6 = 13

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The Gorman Group issued $970,000 of 13% bonds on June 30, 2021, for $1,042,973. The bonds were dated on June 30 and mature on Ju
omeli [17]

Answer:

Entries are given below

Explanation:

Cash should be recorded as an asset on the issuance of bonds and bonds should be credited as it is a liability for the company. Interest expense should be debited on a semiannual basis

June 30, 2021 ( issuance of bonds)

                                                          DEBIT          CREDIT

Cash                                                 1,042,973

Bonds payable                                                     970,000

Premium on bonds payable                                 72,973

December 31, 2021 ( interest expense)

                                                            DEBIT          CREDIT

Interest Expense                               62,578

(1,042,973 x 12% x 6/12)

Premium on bonds payable               472    

Cash                                                                          63,050

(970,000 x 13% x 6/12)

June 30, 2022 (interest expense)

                                                           DEBIT            CREDIT

Interest Expense                               62,550

(1,042,973-472) x 12% x 6/12)

Premium on bonds payable               500    

Cash                                                                             63,050

(970,000 x 13% x 6/12)

5 0
3 years ago
Rodriguez Corporation issues 10,000 shares of its common stock for $196,400 cash on February 20. Prepare journal entries to reco
emmainna [20.7K]
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3 0
3 years ago
The Home and Garden (HG) chain of superstores imports decorative planters from Italy. Demand for the planters is stable and aver
Korolek [52]

Answer:

The average inventory which HG should carry during the year is 5,000 units.

Explanation:

Economic Order Quantity is the ideal inventory procurement which minimizes holding and ordering cost. The EOQ is used by businesses in order to determine the best possible inventory holding.

EOQ = \sqrt{\frac{2*Annual Demand * Ordering Cost}{Annual Holding Cost} }

EOQ = \sqrt\frac{2*7,500*5,000}{10*0.3}

EOQ = 5,000 units

6 0
2 years ago
Oaktree Company purchased new equipment and made the following expenditures:
I am Lyosha [343]

Answer:

The Journal entries are as follows:

(1)

Equipment A/c       Dr. $71,890

To cash                                           $3,790

To accounts payable                     $68,100

(To record the purchase of equipment)

Workings:

Equipment value:

= Purchase price + Sales tax + Freight charges for shipment of equipment + Installation of equipment

= 64,000 +4,100 + 890 + 2,900

= $71,890

Cash Paid:

= Freight charges for shipment of equipment + Installation of equipment

= 890 + 2,900

= $3,790

Accounts payable = Purchase price + Sales tax

                               = 64,000 +4,100

                               = $68,100

(2)

Prepaid Insurance A/c    Dr. $1,090

To cash A/c                                             $1,090

(To record any expenditures not capitalized in the purchase of equipment)

7 0
2 years ago
What is an exchange rate? A. How much bonds are worth when they're exchanged with cash B. How much dollars are worth when they a
lidiya [134]

Hello!
The answer is

C. How much a currency is worth when it's exchanged with another country's currency.

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6 0
3 years ago
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