Answer:
Inventory balance will be of 73,318
Explanation:
Inventory 75,400
Account payable 75,400
to record goods received
Account payable 1,300
Inventory 1,300
to record return of goods
Inventory 700
Cash 700
to record payment of freight
Account Payable 74,100
Inventory 1,482
Cash 72,618
to record payment of invoice within discount period
75,400 - 1,300 = 74,100
74,100 x 2% = 1,482
Inventory balance:
<em> DEBIT CREDIT</em>
75,400
1,300
700
1,482
<u><em>balance: </em></u>
73,318
Answer:
They should be reported in 2 different parts, first under current liabilities as:
Then under long term liabilities:
- Notes payable expected to be refinanced $1,044,000
Explanation:
the total short term notes payable on December 31 = $1,313,000
- $1,044,000 were paid off by issuing common stocks, so that portion of the debt must be reported as notes payable expected to be refinanced (or refinanced debt)
- the remaining $269,000 which were paid using cash reserves must be reported as current notes payable
Answer:
$1,053.48
Explanation:
For computing the price of the bond we use the Present value formula which is to be shown in the attachment below:
Given that,
Future value = $1,000
Rate of interest = 6.4%
NPER = 10 years - 1 year = 9 year
PMT = $1,000 × 7.2% = $72
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
After applying the above formula, the price of the bond is $1,053.48
Basic earnings per share is calculated as net income available to common shareholders weighted average common shares outstanding.
<h3>What is basic earnings per share?</h3>
Basic earnings per share is the share of a firm's net income that is available to each unit of its common outstanding shares. Basic earnings per share differs from diluted earnings because it excludes preferred shares from its calculations.
Basic earnings per share = (net income - proffered shares) / common outstanding shares
To learn more about basic earnings per share, please check: brainly.com/question/7303176
