1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
bezimeni [28]
3 years ago
6

Martin Distributors has the following transactions related to notes receivable during the last two months of the year.

Business
1 answer:
MaRussiya [10]3 years ago
8 0

Answer:

Dec. 1

Note Receivable : E. Kinder $16,000 (debit)

Cash $16,000 (credit)

Dec. 16

Note Receivable : J. Jones $4,800 (debit)

Sales $4,800 (credit)

Dec. 31

Note Receivable : E. Kinder $80 (debit)

Note Receivable : J. Jones $168 (debit)

Interest Income $248 (credit)

Explanation:

Interest accruing on E. Kinder`s Note Receivable = $16,000 × 6 % × 1/12 = $80.

Interest accruing on J. Jones`s Note Receivable = $4,800 × 7 % × 30/60= $168.

You might be interested in
Walmart is opening 12 stores to test the concept of walmart express, stores that are one-tenth the size of its supercenters and
Alecsey [184]
The answer that best complete the blank provided above is the term CANNIBALIZATION. Product cannibalization happens when a new product that is being introduced by the same producer, eats up the sales of the other products that exist in the same market resulting in the decrease of the overall sales.
6 0
3 years ago
Lem Co., which accounts for treasury stock under the par value method, acquired 100 shares of its $6 par value common stock for
In-s [12.5K]

Answer:

Additional paid in capital decrease by 100 as a result of the acquisition

Explanation:

Treasury Stock 600 (100 shares x $6)

Additional Paid-In Capital 100 (100 shares x $1)

cash 1,000 (100 shares x $10)

Additional Paid-In Treasury Stock 300

7 0
3 years ago
Assume a companys income statefor year 9 is as follows:
Fofino [41]

Answer:

14.91 and 24.77%

Explanation:

The computation of the company interest coverage ratio is shown below:-

Interest coverage ratio = Earning before interest and tax ÷ Interest

= $161,000 ÷ $10,800

= 14.91

Operating profit margin = (Earning before interest and tax ÷ Revenue) × 100

= $161,000 ÷ $650,000 × 100

= 24.77%

Therefore we have applied the above formula and hence option is not available.

6 0
3 years ago
Which kind of graph is shown here?
Vinil7 [7]

Answer:

Explanation:

This is a demand graph. You can tell because at the price decreases, the amount demanded increases. Consumers usually want to purchase more goods when the price is less.

5 0
3 years ago
Select the incorrect statement regarding the cash budget. Multiple Choice Cash inflows and outflows indicated on the cash budget
babunello [35]

Answer:

The incorrect statement regarding the cash budget is :

The total cash available is calculated by adding cash receipts and the ending cash balance.

Explanation:

The Cash available is calculated by <em>adding</em> the Cash Receipts to the Opening Cash Balance <u>instead of</u> the Ending Cash Balance.

The Cash that is available would then be used to meet cash expenditures for the anticipated period.

6 0
3 years ago
Other questions:
  • Anchor Company purchased a manufacturing machine with a list price of $85,000 and received a 2% cash discount on the purchase. T
    13·1 answer
  • Larry Mitchell invested part of his $ 35 comma 000$35,000 advance at 4 %4% annual simple interest and the rest at 9 %9% annual s
    13·1 answer
  • Outstanding stock of the West Corporation included 40,000 shares of $5 par common stock and 20,000 shares of 5%, $10 par non-cum
    13·1 answer
  • On april 12, hong company agrees to accept a 60-day, 10%, $4,500 note from indigo company to extend the due date on an overdue a
    11·1 answer
  • As of December 31, Year 2, Moss Company had total cash of $195,000, notes payable of $90,500, and common stock of $84,500. Durin
    7·1 answer
  • In planning for a crisis, the leader has to focus on five integrated tasks. These tasks include all of the following EXCEPT: a.
    5·1 answer
  • A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised
    14·1 answer
  • Na frase, "Você fez o que eu pedi pra você fazer, Zero?" Identifique um verbo no pretérito perfeito e faça sua conjugação abaixo
    5·1 answer
  • Explain the following concepts:
    15·1 answer
  • What role does advertising play in monopolistic competition?
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!