When a 2/10 end of month discount is used on an invoice dated may 29, a discount is allowed if the invoice is paid by_______

Wilson Trucking, Inc. reports these account balances at January 1, 2015 (shown in alphabetical order):Accounts Payable $220,000A

dexar [7]

Answer:

The correct option is C,$ 1,399,000

Explanation:

The items on the credit column would be the sum of accounts payable, capital stock, notes payable and retained earnings minus the payment of accounts payable and notes payable

Accounts payable is $220,000

capital stock is $680,000

notes payable is $520,000

retained earnings is $140,000

payment in respect of accounts payable is $150,000

payment in respect of notes payable is $11,000

total of credit column=$220,000+$680,000+$520,000+$140,000-$150,000-$11,000=$ 1,399,000.00

6 0

3 years ago

What can you expect when you ask clients for testimonials? A. They'll want to come up with full-blown ideas.

Lisa [10]

B. They'll know exactly what you want.

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6 0

3 years ago

Read 2 more answers

if, after one year, the yield to maturity on a multiyear coupon bond that was issued at par is lower than the coupon rate, what

maw [93]

When the YTM is lower than the bond's coupon rate, the bond's market value exceeds its par value (premium bond). Bonds are selling at a discount if their coupon rate is smaller than their YTM. A bond is trading at par if its coupon rate is equal to its yield to maturity (YTM).

<h3>What is the cost of a $1,000 par value, three year, zero-coupon bond?</h3>

(a) A three-year zero-coupon bond with a face value of $1,000 would have a present value (or price) of 874.69 with a yield of 4.564 percent.

<h3>What is the yield to maturity on a discount bond with a $1000 face value that will mature in a year and sell for $800?</h3>

The yield to maturity is determined using the following formula with the current price of $800: 800 = 1000 / (yield to maturity plus one) Yield to maturity Equals 1 plus yield. Yield until maturity equals 25%

To Know more about coupon rate

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5 0

1 year ago

The High Towers Center is a 300-room hotel that was built ten years ago for a total project cost of $24,000,000. The market valu

bagirrra123 [75]

Answer:

$80

Explanation:

The computation of the price of a room night is given below:-

Investment made = $24,000,000

Return required at $1 per 1,000 = $24,000

Number of rooms = 300

Price of Room rent = Return ÷ Number of rooms

= $24,000 ÷ 300

= $80

Therefore for computing the room price of room rent we simply divide the number of rooms by return required.

7 0

3 years ago

Oscar Clemente is the manager of Forbes Division of Pitt, Inc., a manufacturer of biotech products. Forbes Division, which has $

inessss [21]

Answer:

Residual income is therefore $732,000.

Explanation:

This can be computed by following the following steps:

Step 1: Calculation of ending net book value

<u>Particulars $'000 </u>

Beginning investment 6,900

add: Additional investment 8,100

Less: Depreciation - Other <u> (2,850) </u>

Ending net book value <u> 12,150 </u>

Step 2: Calculation of Minimum required return

Minimum required return = Ending net book value * Required return rate = $12,150,000 * 12% = $1,458,000

Step 3: Calculation of profit (loss) on disposal

First year depreciation on investment = (Investment cost - Salvage value) / Useful life = ($6,600,000 - $660,000) / 3 = $1,980,000

Profit (loss) on disposal = Salvage value - Investment cost - First year depreciation on investment = $660,000 - $6,600,000 - $1,980,000 = $3,960,000 loss

Step 4: Calculation of residual income

<u>Particulars $'000 </u>

Given operating profit of the division 6,150

Less: Loss on disposal <u> (3,960) </u>

Revised operating income 2,190

less: Minimum required return <u> (1,458) </u>

Residual income <u> 732 </u>

Residual income is therefore $732,000.

7 0

3 years ago

When a 2/10 end of month discount is used on an invoice dated may 29, a discount is allowed if the invoice is paid by________