The monthly bank statement has to be compared with the:

On May 1, 2020, Mount Company enters into a contract to transfer a product to Eric Company on September 30, 2020. It is agreed t

sweet-ann [11.9K]

Answer:

Dr. Accounts Receivable...........25,000

Cr. Sales................................................25,000

Narration. Being sale of inventory to Eric for $25,000

Dr Cash...............25,000

Cr. Accounts Receivable....25,000

Being receipt of Cash for Sales to Eric for $25000

Explanation:

On May 1, 2020, Mount Company enters into a contract to transfer a product to Eric Company on September 30, 2020.

It is agreed that Eric will pay the full price of $25,000 in advance on June 15, 2020.

Dr. Accounts Receivable...........25,000

Cr. Sales................................................25,000

Narration. Being sale of inventory to Eric for $25,000

When Eric pays on June 15, 2020, and Mount delivers the product on September 30, 2020.

Journal Entry

Dr Cash...............25,000

Cr. Accounts Receivable....25,000

Being receipt of Cash for Sales to Eric for $25000

3 0

2 years ago

Read 2 more answers

Please help <br><br> Why is engaging communication a two-way process?

kumpel [21]

Answer:

Two-way communication allows both participants to exchange ideas, they can develop a sense of mutual understanding. The result is a better relationship between them. Increase effectiveness

Effective communication depends on the proper understanding of the message by the sender and receiver.

Explanation:

7 0

2 years ago

Tom and Jerry's has 2.4 million shares of common stock outstanding, 2.4 million shares of preferred stock outstanding, and 14.00

3241004551 [841]

Answer:

Tom and Jerry's

The weight used for common stock in the computation of Tom and Jerry's WACC is:

= 45.22%

Explanation:

a) Data and Calculations:

Common Preferred Bonds

Stock Stock

Outstanding number 2.4 m 2.4 m 14,000

Market price per share $13.40 $10.40 $999.6

Total value $32.16 m $24.96 m $13,994,400

Total value of stock and bonds = $71,114,400

Weight of common stock = $32.16/$71.1144 * 100 = 45.22%

6 0

2 years ago

Keesha Co. borrows $165,000 cash on November 1, 2017, by signing a 180-day, 11% note with a face value of $165,000. On what date

Whitepunk [10]

Answer:

Explanation:

Principal amount $165000

Rate - 11%

time - 180

Interest = 165000*0.11=$18150

Total Maturity = 165000*0.11*180/365= 8950.68

Interest Expense for year 2017 = 165000*0.11*61/365 = 3033

Interest Expnese for year 2018 = 165000*0.11*119/365 = 5917

Ans. April 28, 2018

8 0

3 years ago

A product that is very labor intensive assembled at Boyds Aero Structure in Memphis has an average labor cost of $20/hr.

Nuetrik [128]

Answer:

correct answer for learning curve percentage is A. 90%

Explanation:

given data

average labor cost = $20/hr

Time 1st unit = 10 hours

Time 4th unit = 8.1 hours

solution

we apply here formula for learning curve that is

Time (x) units = Time 1st unit × $x^{\frac{ln\ leaning\ rate }{ln\ 2}}$

so

time 4th unit = Hours 1st unit × $4^{\frac{ln\ leaning\ rate }{ln\ 2}}$

8.1 = 10 × $4^{\frac{ln\ leaning\ rate }{ln\ 2}}$

ln 0.81 = ${\frac{ln\ leaning\ rate }{ln\ 2}}$ × ln 4

solve it we get

learning rate = 90%

so correct answer is A. 90%

4 0

3 years ago