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Alex787 [66]
2 years ago
15

The purchase of office equipment at a cost of $7,600 with an immediate payment of $4,200 and agreement to pay the balance within

60 days is recorded by the purchaser with:_____.
A. A debit of $7,600 to Office Equipment, a credit of $4,200 to Cash, and a credit of $3,400 to Accounts Payable.
B. A debit of $7,600 to Office Equipment, a debit of $4,200 to Accounts Receivable, and a credit of $3,400 to Accounts Payable.
C. A debit of $3,400 to Accounts Receivable, a debit of $4,200 to Cash, and a credit of $7,600 to Office Equipment.
D. A debit of $7,600 to Office Equipment, a credit of $4,200 to Cash, and a credit of $3,400 to Accounts Receivable.
Business
1 answer:
sladkih [1.3K]2 years ago
8 0

Answer:

A. A debit of $7,600 to Office Equipment, a credit of $4,200 to Cash, and a credit of $3,400 to Accounts Payable.

Explanation:

Recognize the Asset - Office Equipment and Accounts Payable Accounts as these are increasing. De-recognize the Cash Account as this account is decreasing.

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Answer:

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d. Credit to variable overhead spending varian

Explanation:

Based on the information given in a situation where a variable overhead efficiency variance is UNFAVORABLE it will be DEBITED and variable overhead spending variance that is FAVOURABLE will be CREDITED.

Therefore the journal entry will include a:

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d. Credit to variable overhead spending Variance

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Vikentia [17]

Answer: sorry i took long

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2 years ago
The Yurdone Corporation wants to set up a private cemetery business. According to the CFO, Barry M. Deep, business is "looking u
icang [17]

Answer:

A) NPV= - $428,888.89 B) Company would break Even if g = 5.68%

Explanation:

Hi, we have to bring to present value all the inflows and outflows of cash, this is the formula to use and the math of it.

NPV=-Invesment+\frac{CashFlowYr1}{(return-growth)}

NPV=-1440000+\frac{91000}{(0.12-0.03)} = -428888.89

The question says that "at what constant growth rate would the company just break even..." and well, a NPV=0 is not precisely break even, actually, it means that the company is obtaining exactly what is asking for any investment, but let´s assume that the question was, what should the growth rate be for the company to accept this project?. So we have to solve the first equation for "g", that is:

g=\frac{(Invesment*return-CashFlowYr1)}{Invesment} =\frac{(1440000*0.12-91000)}{1440000} =0.0568

So the constant growth rate has to be at least 5.68% for the company to accept this project (NPV=0)

Best of luck

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Answer:

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