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DIA [1.3K]
3 years ago
6

On May 18, Rodriguez Co. issued an $84,000, 6%, 120-day note payable on an overdue account payable to Wilson Company. Assume tha

t the fiscal year of Rodriguez ends on June 30. Which of the following relationships is true?a. Rodriguez is the creditor and credits Accounts Receivable
b. Wilson is the creditor and debits Accounts Receivable
c. Rodriguez is the borrower and debits Accounts Payable
d. Wilson is the borrower and credits Accounts Payable
Business
1 answer:
ankoles [38]3 years ago
7 0

Answer:

c. Rodriguez is the borrower and debits Accounts Payable

Explanation:

Rodriguez Co will :

  1. De-recognise the Trade Payable - Wilson Company
  2. Recognise a Financial Liability to Wilson Company

Wilson Company will :

  1. Recognise an Investment or FA in Rodriguez Co
  2. De-recognise the Trade Receivable - Wilson Company
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Which situation best illustrates the effects of inflation?
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Answer:

B. A type of shirt that sold for $10 in 2000 costs $15 in 2020  

Explanation:

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The Area Of The Triangle Is

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A store has 5 years remaining on its lease in a mall. Rent is $2,000 per month, 60 payments remain, and the next payment is due
liubo4ka [24]

Solution:

Sum      Present value of 60 payments

             Rent                                              2000

            Periods                                           60

            Rate                                                 12%

        Present value of 60 payments    $94,405 (Excel = PV( 1% , 60 , 2000))

       Future value of these payments at t=9

       Future value                                   $1,03,249.99(Excel=FV(1%,9,94,405)

       Periods                                              51

        Rate                                                 12%

8 0
2 years ago
In 1970 Professor Fellswoop earned $12,000; in 1980 he earned $24,000; and in 1990 he earned $36,000. If the CPI was 40 in 1970,
Arte-miy333 [17]

Answer:

In 1980

Explanation:

Year        Salary        Percentage Salary Increase        CPI Increase

1970       $12,000     -                                                      -

1980       $24,000    100                                                 50

1990       $36,000    50                                                   83.3

As can be seen in the table, the Professor's salary increase from 1970 to 1980 was twice as much as the CPI increase during the same period.

On the contrary, his salary increase from 1980 to 1990 was significantly less than the CPI increase during the same period.

Therefore, the professor's salary was highest in 1980.

4 0
3 years ago
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