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3 years ago

Journalize the following five transactions for Nexium & Associates, Inc. Omit explanations.

Business

2 answers:

-BARSIC- [3]3 years ago

8 0

Answer:

Nexium & Associates Journal entries

March 1

Dr Accounts Receivable800

Cr Service Revenue 800

March 9

Dr Office Furniture1,060

Cr Office Supplies 160

Cr Accounts Payable1,220

March 15

Dr Accounts Payable1,220

Cr Cash1,220

March 23

Dr Electricity Expense430

Cr Accounts Payable430

March 31

Dr Salaries Expense850

Cr Cash850

Explanation:

The details given about Nexium & Associates are straight forward and required no further

adjustment.

marshall27 [118]3 years ago

8 0

Answer:

Explanation:

Journal to record the five transactions for Nexium and Associates, Inc.

Account Particulars Debit Credit

March 1

Accounts Receivable $800

Services Revenue $ 800

March 9

Office Furniture $1,060

Office Supplies 160

Accounts Payable 1,220

March 15.

Accounts Payable 1,220

Cash 1,220

March 23.

Electricity Expense $430

Accounts Payable $430

March 31

Salaries Expense $850

Cash $850

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3 years ago

A zero-coupon bond pays no annual coupon interest payments. When it matures at the end of 10 years it pays out $1,000. If invest

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You can choose between Machine A or B. Your annual interest rate is 7%. You need a machine for 6 years (required service period)

dedylja [7]

Answer:

M1 EAC = 38,576.91

M2 EAC = 29,784.89

Explanation:

The equivalent annual cost is the PMT of the present worh of the machine/investment.

<em>Machine A</em>

54,000 at year 0 then 54,000 at beginning of year 4th

and 18,000 per year

We need to bering into present the 54,000 of the fourth year

the 18,000 are already split into each year.

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity 54,000

time 3 (it is done at the beginning of the 4th year not at the end of it)

rate 0.07

$\frac{54000}{(1 + 0.07)^{3} } = PV$

PV 44,080.09

54,000 + 44,080.09 = 98,080.09

Then we calculate the PMT

$PV \div \frac{1-(1+r)^{-time} }{rate} = C\\$

PV $98,080.09

time 6 years

rate 0.07

$98080.09 \div \frac{1-(1+0.07)^{-6} }{0.07} = C\\$

C $ 20,576.791

Now we add the annual cost of 18,000

getting 38,576.79 as annual equivalent cost ofr machine 1

<u>For machine B</u>

anual cost of 13,000

purchase of 92,000

and 18,000 salvage value at end of year 6:

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity 18,000.00

time 6.00

rate 0.07

$\frac{18000}{(1 + 0.07)^{6} } = PV$

PV 11,994.16

This is positive as is a cash inflow.

net worth: 92,000 - 11,994.16

net worth: 80.005,84‬

Now, we solve for PMT:

$80005.84 \div \frac{1-(1+0.07)^{-6} }{0.07} = C\\$

C $ 16,784.889

add the yearly maintenance cost of 13,000

Equivalent Annual Cost: 29,784.89

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