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vesna_86 [32]
3 years ago
9

Acme Enterprises began the new year owing its suppliers $3,000 for merchandise purchased last year. Acme then sold half of this

merchandise for $5,000 on account. Two weeks later, Acme paid its suppliers $1,000 and bought another $4,000 of merchandise on account. Acme now has an Accounts payable balance of ______. $4,500 $5,500 $11,000 $6,000 $1,000
Business
1 answer:
Sedaia [141]3 years ago
8 0

Answer:

Acme's current balance of accounts payable is $6000

Explanation:

The closing balance of accounts payable can be calculated using the opening balance and adjusting the changes during the period to the opening balance.

The closing balance can thus be calculated as:

Closing balance = Opening balance + Credit purchases - Payment to Accounts payable

Closing balance = 3000 + 4000 - 1000

Closing balance = $6000

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Answer and Explanation:

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Now the preparation of the retained earning statement is presented below:

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Ending balance      $2,379

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2 years ago
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tia_tia [17]

The statement III Aggregate plans often perform planning for fictitious/abstract products.

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ou are considering implementing a lockbox system for your firm. The system is expected to reduce the collection time by 3 days.
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The net present value of this lockbox arrangement is $1,205,378.06.

Since you are considering implementing a lockbox system for your firm, and on an average day, your firm receives 1,370 checks with an average value of $ 880 each, and the daily interest rate on Treasury bills is 0.01 percent, and the bank charge per check would be $ 0.25, to determine what is the net present value of this lockbox arrangement, the following calculation must be performed:

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Therefore, the net present value of this lockbox arrangement is $1,205,378.06.

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