Answer:Please see answers in explanation column
Explanation:
1A)To record amount payable for purchase of goods
Date Account Title Debit Credit
July 1 Purchase $60,000
Accounts Payable $60,000
Freight in $1,200
Cash $1,200
B)To record amount on damaged goods
Date Account Title Debit Credit
July 3 Accounts Payable $6,000
Return of Purchase $6,000
C)Journal to record payment of goods
Date Account Title Debit Credit
July 10 Accounts Payable $54,000
Purchase Discount $1,080
Cash $52,920
Calculations
Accounts payable Purchased Price - price of returned goods = 60000-6000 = $54,000
Discount on Purchases if paid within 10 days = 2% x $54,000 = $1,080
Answer: Option D
Explanation: Owners equity refers to the amount of funds made available by the owners to operate the business activities. It includes initial capital invested and profits generated for the period
In the given case, the expense of $800 did not bring any assets or liabilities to the entity. Such an expense will be recorded in income statement leading to decrease in profits, thus, resulting in decrease in owners equity.
Answer:
he manipulated songs ratings and downloaded numbers to observe the effects on songs popularity
Explanation:
he manipulated songs ratings and downloaded numbers to observe the effects on songs popularity.
Answer:
Stock price today $26.34
Explanation:
The stock price today is the sum of the present value of the future cash flows(dividends) payable by the stock to investors using the 11% reuired rate of return as the discount rate:
Years Cash flows Discount factor Present values
1 $3.90 1/(1+11%)^1=0.900900901 $3.51
2 $8.05 1/(1+11%)^2=0.811622433 $6.53
3 $10.90 1/(1+11%)^3=0.731191381 $7.97
4 $12.65 1/(1+11%)^4=0.658730974 $8.33
Total present values =$3.51+$6.53+$7.97+$8.33=$26.34
