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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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mestny [16]

Answer:

Predatory pricing.

Explanation:

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Which statement best explains the decrease in manufacturing jobs over the next few years?
Anastaziya [24]

The best reason for the reduction in manufacturing jobs is that These jobs are often outsourced to overseas factories.

<h3>Manufacturing trend in developed countries </h3>
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As a result of these jobs being shipped abroad, manufacturing jobs in developed countries are suffering and will decrease in the next few years.

In conclusion, option B is correct.

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Which statement BEST describes costs typically associated with policies for auto, health, and property insurance?
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6 0
3 years ago
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Find the dimensions of a rectangle with the area 170 sq. ft.
VikaD [51]
One side could be 85 and the other could be 2.
5 0
3 years ago
Beginning Inventory Ending Inventory Finished goods (units) 24,000 34,000 Raw material (grams) 54,000 44,000 Each unit of finish
Ghella [55]

Answer:

Production= 200,000

Explanation:

Giving the following information:

Beginning Inventory Ending Inventory

Finished goods (units) 24,000 34,000

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<u>To calculate the production required, we need to use the following formula:</u>

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