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RoseWind [281]
3 years ago
5

The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing:

Business
1 answer:
Lera25 [3.4K]3 years ago
4 0

<u>Solution and Explanation:</u>

The following journal entries will be passed in the book sof fasteners Inc., Co., which is a supplier of buttons and zippers for clothing

Date        Accounts Titles and Explanation  Post Ref    Debit  Credit

1 Nov-21  Notes receivable                                      $ 72,000  

      Accounts receivable-McKenna Outer Wear Co.        $ 72,000

2  Dec-31  Interest receivable (72000 * 9 \% * 40 / 360)    $720  

 Interest revenue                                                     $ 320

3  Jan-20  Cash                                           $ 73080  

 Interest revenue (72000 * 9 \% * 20 / 360)         $360

 Interest receivable                                          $720

 Notes receivable                                               $72,000

Note: the figures have been calculated and rounded off in the nearest dollar amount.

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Explanation:

Since Johnson analysed the past performance of Openlane hardware and found out that past performance, conducting focus groups, and interviewing Openlane employees, Johnson concludes that the company has poor profit margins, sells shoddy merchandise, and treats customers poorly, then Johnson and Conecom Hardware should turn down the acquisition offer and prepare to resist a hostile takeover.

In this case, the merge between the companies will have a negative impact on Johnson and Conecom hardware due to the fact that the company has a bad reputation already and this can have an effect on Conecom. Therefore, the acquisition offer should be turned down.

5 0
3 years ago
If Cost of Goods Sold is $145,000 and the beginning and ending Inventory balances are $18,000 and $13,000, respectively, invento
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Answer:

B. $140,000.

Explanation:

Inventory purchases refers to the amount of goods or merchandise bought during a particular period by merchandisers or sellers such as retailers, wholesalers, or distributors with aim of selling them to customers.

Inventory purchases can be determined using the formula for computing the cost of goods sold as follows:

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Substituting the values in the question into the formula above and solve for inventory purchases, we have:

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3 years ago
What are the dimensions of situational control identified by Fiedler's contingency leadership model? (Check all that apply.)
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There are ways to control different situations. The dimensions of situational control Fiedler's contingency theory are leader-member relations, task structure, and position power.

Fiedler's is popularly known for his contingency theory. This theory helps to understand why managers can behave so differently.

The contingency theory states that there no one single leadership style often works for all employees.

He stated also that there are situational-contingent elements that influences a leader's ability to lead.

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Oriole, Inc., management expects the company to earn cash flows of $11,800, $14,000, $18,200, and $19,000 over the next four yea
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The future value of these cash flows at the end of year 4 is $71,885.80

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In order to calculate the future value of these cash flows at the end of year 4 we would have to use the following formula:

        n

        ∑

FV = i=1 [CFi * (1 + r)(n - i)]

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If both the real interest rate and the nominal interest rate are 3 percent, then the
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If both the real interest rate and the nominal interest rate are 3%, then the inflation premium is zero. Because there is no inflation due to interest rates being equal. Inflation premiums is a way lenders use interest rates to cause raises in nominal interest rates, so if they equal, they are at an inflation premium of zero. 
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