What do you do when a customer doesnt know how to put together an item they bought

On August 1, Kim Company accepted a 90-day note receivable as payment for services provided to Hsu Company. The terms of the not

Andreyy89

Answer:

credit to interest revenue for $132

Explanation:

given data

face value = $8,800

interest rate = 6 %

time = 90 days

solution

if we see here journal entry that is

date particular debit credit

October 30 cash A/C $8932

to notes payable $8800

to interest revenue $132

( $8800× 6% × $\frac{90}{360}$ )

so here credit to interest revenue for $132

6 0

3 years ago

Klingon Cruisers, Inc., purchased new cloaking machinery five years ago for $20 million. The machinery can be sold to the Romula

gladu [14]

Answer:

a. $16,426,000

b. $19,080,000

Explanation:

a. What is the book value of Klingon's assets today?

Book value of assets refer to the value of the total value of the assets of a company on its balance sheet after depreciation, impairment and amortization have been deducted.

This can be calculated for this question as follows:

Book value of Klingon's assets today = Book value of current assets + Book value of fixed assets

Book value of fixed assets = $15,500,000

Book value of current assets = Current liabilities + Net working capital = $700,000 + $226,000 = $926,000

Therefore, we have:

Book value of Klingon's assets today = $15,500,000 + $926,000 = $16,426,000

b. What is the market value?

Market value refer to the amount that can be realized from selling something such as the assets of a company.

This can be calculated for this question as follows:

Market value = Machinery sales amount + Current asset liquidated amount = $18,000,000 + $1,080,000 = $19,080,000

3 0

3 years ago

Flyaway Travel Company reported net income for 2021 in the amount of $100,000. During 2021, Flyaway declared and paid $3,125 in

Orlov [11]

Answer:

$1.49

Explanation:

Flyaway Travel Company

$100,000 – $3,125

=$96,875

= $50,000 + (20,000 x 9/12)

=$50,000+$15,000

=$65,000

Hence:

$96,875÷$65,000

=$1.49

Therefore 2021 basic earnings per share will be $1.49

8 0

3 years ago

On January 2, 2017, Pharoah Co. issued a 4-year, $126,000 note at 6% fixed interest, interest payable semiannually. Pharoah now

HACTEHA [7]

Answer:

interest expense 3,654 debit

cash 3,654 credit

Explanation:

For the first 6 month the note will pay 5.80% interest for the subsequent 6 month will pay at 6.70%

We do for the period Jan 2,2017 to June 30,2017

variable LIBOR rate:

126,000 x 5.80% / 2 = 3654

fixed rate of the promissory note:

126,000 x 6.00% / 2 =3,780

difference: 126 in our favor.

We pay the variable rate, not the fixed rate. THerefore, we made the entry for the variable rate

7 0

3 years ago

Enumerating different potential implementation environments that could be used to deliver the different sets of capabilities occ

solniwko [45]

Answer: Occurs during the Shaping alternative system design strategies phase-B

Explanation:

This phase also called Innovation phase is used to identify and or formulate decisive alternatives. Here multiple alternatives should be considered and encouraged so as to develop decisions that can cater to the needs identified during the initial decision making

Introducing different alternative decisions helps one to consider a wide new range of opportunities most of which were not though of during the initial stage.and look

When shaping alternative systems design, it is also necessary to consider Solutions that have worked in the past which may be a solution for current decision implementation and to consider different environments or situations that can help solve current capabilities.

8 0

3 years ago