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Dmitry_Shevchenko [17]
3 years ago
5

LCD Industries purchased a supply of electronic components from Entel Corporation on November 1, 2016. In payment for the $25.0

million purchase, LCD issued a 1-year installment note to be paid in equal monthly payments at the end of each month. The payments include interest at the rate of 24%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
Required:

1. & 2.

Prepare the journal entries for LCDâs purchase of the components on November 1, 2016 and the first installment payment on November 30, 2016. (Enter your answers in whole dollars. If no journal entry is required for a transaction, select "No journal entry required" in the first account field.)

3.

What is the amount of interest expense that LCD will report in its income statement for the year ended December 31, 2016?. (Enter your answers in whole dollars.)
Business
1 answer:
deff fn [24]3 years ago
8 0

Answer:

We will use the following equations for this problem

a. (Initial cost  Estimated output) × Actual yearly output

b. (Depreciable cost  Yearly output) × Estimated output

c. Depreciable cost  Yearly output

d. (Depreciable cost  Estimated output) × Actual yearly output

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The makers of Tide Detergent recently created "pods" of the product, characterized by a small, square, plastic-wrapped packet th
notsponge [240]

Answer:

maturity

Explanation:

Based on the information provided within the question it can be said that in this scenario the Tide Detergent "pods" product is in the maturity stage of the product life cycle. This stage is characterized by being the longest stage in the cycle and in which sales begin to decline because the product has reached the apex of the demand curve. Advertisement in this stage has little effect on sales for the product and instead the best option would be to make changes to the product in order to lower costs and thus increase more profits, which is what they have done by making the product easier and more affordable to transport

4 0
3 years ago
Chandler Tire Co. is trying to decide which one of two projects it should accept. Both projects have the same start-up costs. Pr
mojhsa [17]

Answer:

The second project should be chosen. Because the present value of the second project is greater than that of the first project.

Explanation:

The project that should be chosen can be determined by comparing the present value of both projects.

Present value is the cash flows from a project discounted at the discount rate.

Present value can be found using a financial calculator;

For project 1,

Cash flow each year from year one to six is  $52,000

Discount rate = 15%

Present value =$196,793.10

For project 2,

Cash flow each year from year one to eight is  $48,000

Discount rate = 15%

Present value =$215,391.43

The second project would be chosen because its present value is greater than that of the first project.

I hope my answer helps you

6 0
3 years ago
What impact did the rise of the middle class in the late nineteenth century have on the demand for consumer goods?
RoseWind [281]

Answer:

The middle class created a high and sustained demand  for consumer goods

Explanation:

Before the advent of the industrial revolution, the social stratification of society is such that either you are in the lower class of the poor or you are  part of the rich in the upper class. The industrial revolution of late 18th and early 19th centuries saw the springing up from the lower class a new set of wealthy and educated individuals which were later termed the middle class

This reach men and women are able to buy goods needed to satisfy their newly found social status which boost demand for new and quality goods produced as a result of industrial revolution.

7 0
3 years ago
Data concerning three of the activity cost pools of Salcido LLC, a legal firm, have been provided below: Activity Cost Pool Tota
igor_vitrenko [27]

Answer:

Estimated manufacturing overhead rate (Meeting with clients)= $170 per hour

Explanation:

Giving the following information:

Activity Cost Pool -  Total Cost -  Total Activity

Researching legal issues $ 22,130 and 750 research hours

Meeting with clients $ 1,270,410 and 7,473 meeting hours

Preparing documents $ 93,490 and 5,850 documents

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate (Meeting with clients)= 1,270,410/7,473= $170 per hour

3 0
3 years ago
The employees of an organization have heard rumors about rapidly dropping profits and impending layoffs. The grapevine is abuzz
Karolina [17]

Answer:

A. neutralize the rumor by openly confirming any parts that may be true.

Explanation:

Here are the options to this question:

A. neutralize the rumor by openly confirming any parts that may be true.

B. restrict the length of breaks taken by the employees.

C. closely monitor each employee's activities in the office.

D. fire employees found spreading false stories.

E. block all forms of electronic communication in the office.

I hope my answer helps you

3 0
3 years ago
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