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3 years ago

Sales made on account normally lead to cash receipts. true or false.

1 answer:

8 0

In accounting, cash receipts refer to the record of the sales made in a form of cash, therefore, credit sales are not included in this record. When we say sales made on account, this refers to credit sales. Therefore, the answer to the given statement above is FALSE.

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Difference between luna and sol?

mr Goodwill [35]

Luna-moon
Sol- sun

The difference of luna and sol would be that the moon (luna) comes out in the night and the sun (sol) comes out during the day

Hope this helps!!!!!!!

5 0

3 years ago

Bonita Cosmetics acquired 10% of the 218,000 shares of common stock of Martinez Fashion at a total cost of $13 per share on Marc

Semmy [17]

Answer:

See explanation section

Explanation:

Req. A: Situation 1

Mar 18 Available for sale of stocks of MF Debit $283,400

Cash Credit $283,400

Note: As Bonita acquired 10% of Martinez shares at $13, total cash has to be paid to Martinez Fashion = (218,000*10%) × $13 = 21,800 shares × $13 = $283,400.

Jun 30 Cash Debit $7,130

Dividend Revenue Credit $7,130

Note: As Martinez declared $71,300 to all stockholders, Bonita will receive 10% of those dividends as they acquired 10% of the total stocks. The cash received from the MF is = $71,300 × 10% = $7,130.

Securities Fair Value

Dec 31 Adjustment Debit $21,800

Unrealized holding gain (loss)- Equity Credit $21,800

Note: As the market price of the share increased to $14-$13 = $1, Bonita would gain from the increased market price. Total gain = $1 × (218,000 shares × 10%) = $21,800.

Req. B Situation 2

Investment in Seles

Jan 1 Common stock of Seles Corp. Debit $77,520

Cash Credit $77,520

Note: As Windsor, Inc. obtained 30% of Martinez shares at $8, total cash has to be paid to Martinez Fashion = (32,300*30%) × $8 = 9,690 shares × $8 = $77,520.

Jun 15 Cash Debit $10,560

Dividend Revenue Credit $10,560

Note: As Seles declared $32,300 to all stockholders, Windsor, Inc. will receive 30% of those dividends as they acquired 30% of the total stocks. The cash received from the MF is = $32,300 × 30% = $10,560.

Investment in Seles

Dec 31 Cash Debit $24,600

Revenue Credit $24,600

Note: As Seles reported a net income of $82,000, due to acquiring 30% of Seles stock, Windsor, Inc. will receive 30% of its net income. The revenue is = $82,000 × 30% = $24,600.

5 0

3 years ago

A(n) is a long-term contract under which a borrower agrees to make payments of interest and principal on specific dates. There a

Shalnov [3]

Answer:

Bond, Treasury and Risk are the correct words that can satisfy the statements given.

Explanation:

A(n) bond is a long-term agreement under which a borrower allows to make installments of interest as well as principal on particular dates as we know this is a definition of bound. So the word bond satisfies the statement requirement.

There are four main types reflecting who the issuers are: treasury, corporate, municipal, and foreign. Each type differs with respect to risk and expected return. All have some common characteristics even though they may have different contractual features. Here in the second statement, the word treasury satisfies the statement requirement as we know that (Treasury Securities. Bonds, notes as well as bills announced by the United Statement government are frequently known as “Treasuries” and are the maximum-quality securities accessible.)

Correct words complete the sentences and we can understand the statements easily.

8 0

4 years ago

How has the Internet changed the way candidates running for congress campaign?

hammer [34]

I would say the best answer is letter d. it has made it easier to get campaign message across to voters. With social media websites like Facebook and Twitter alone, politicians are already able to communicate with the people since everyone is on the internet.

8 0

3 years ago

The ratio (Price Level in Earlier Time) / (Price Level Today) would be used to:_________

Aneli [31]

Answer:

Option d (convert.................inflation) is the correct approach.

Explanation:

The proportion $\frac{(Price\ level \ of \ earlier \ times)}{(Price \ level \ of \ today)}$ would have been utilized to incorporate or transform today's moment to something like an earlier market value, making adjustments rising prices.
As well as the rate of return $\frac{(Today's \ price)}{(Earlier \ price)}$ will indeed transfer the previous price to current prices, modifying inflation.

Some other preferences really aren't comparable to the scenario in question. So the above obvious response is the correct one.

3 0

3 years ago