Based on this information Miller Farm Products' debt can be described as a debenture.
<h3>
What is Debenture?</h3>
- A bond or other sort of financial instrument that is secured by collateral is referred to as a debenture.
- Debentures must rely on the issuer's trustworthiness and reputation for support because they lack a collateral backstop.
- Debentures are commonly issued by both businesses and governments to raise cash or money.
- Debentures, like the majority of bonds, may issue periodic interest payments known as coupon payments. Debentures are described in an indenture, much like other kinds of bonds.
- A binding legal agreement between bond issuers and bondholders is known as an indenture.
- The agreement details the terms of a debt issue, including the maturity date, the frequency of interest or coupon payments, the formula for calculating interest, and other details.
- Debentures may be issued by both governments and corporations.
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Answer: See explanation
Explanation:
a. . Compute the sales for November.
This will be:
= ($96,000 - $78,800) / 10%
= $17200 / 10%
= $17200/0.1
= $172,000
b. Compute the sales for December.
This will be:
= $78800 / (10% + 30%)
= $78800 / 40%
= $78800 / 0.4
= $197000
c. Compute the cash collections from sales for each month from January through March.
January cash collection:
= ($172000 × 10%) + ($197000 × 30%) + ($135000 × 60%)
= $17200 + $59100 + $81000
= $157300
February cash collection:
= ($197000 × 10%) + ($135000 × 30%) + ($152000 × 60%)
= $19700 + $40500 + $91200
= $151400
March cash collection:
= ($135000 × 10%) + ($152000 × 30%) + ($167000 × 60%)
= $13500 + $45600 + $100200
= $159300
Answer:
Inventory at year-end: 344,000
Explanation:
The inventory should add the purchased goods from Pelzer as the possesion is transfer at shipping point.
The sales units to Alvarez should also be included as teh transfer is not complete yet. The term on this transaction are at destination.
Total inventory in transit: 28,940 + 39,800 = 68,740
on hand: $ 275,260
in-transit: $<u> 68, 740 </u>
Total: $ 344,000
Answer:
Debit Income Summary $84,800, Credit High Step Shoes, Capital $84,800
Explanation:
Preparation of what The entry to close the Income Summary account at the end of the year, after revenue and expense accounts have been closed, is:
Debit Income Summary $84,800
Credit High Step Shoes, Capital $84,800
($192,000-$107,200)
(To close the Income Summary account )
Answer:
False
Explanation:
The case stated in question statement does not refer to focused differentiation strategy rather it is an example of Focused cost leadership strategy.
Focused cost leadership strategy is one that is competes on price margins targeting a narrow market and setting the price lower than other already existing competitors.
While, on the other end a focused differentiation strategy targets acquiring market by introducing some different product.
