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Mashcka [7]
3 years ago
14

Which of the following would indicate the need to use positive accounts receivable confirmations?A. A large population consistin

g of small balances.B. Good internal control over accounts receivable.C. Most accounts are with large reputable companies.D. A large number of accounts receivable are in dispute.
Business
1 answer:
RUDIKE [14]3 years ago
4 0

Answer:

D.A large number of accounts receivable are in disputeExplanation:

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At the beginning of 2023, the Mackinac Company purchased a machine for $510,000 (salvage value of $60,000) that had a useful lif
Ratling [72]

Answer:

$10,000 credited

Explanation:

DATA

Machine cost = 510,000

Salvage value = $60,000

Useful life = 6 years

Depreciation = $60,000/6years

Depreciation = $10,000

It means that we have overstated depreciation expense for the year with the amount of $10,000.

Retained earnings will be credited by $10,000 As the depreciation expense was overstated mistakenly by $10,000

4 0
3 years ago
Sunland Company purchases $50,400 of raw materials on account, and it incurs $61,300 of factory labor costs. Journalize the two
lisabon 2012 [21]

Answer:

A. Mar 31

Dr Raw materials $50,400

Cr Account pay $50,400

B. 31

Dr Factory labour $61,300

Cr Factory wages $61,300

Explanation:

Preparation of the Journal entries for Sunland Company

A. Since we were told that the company purchases the amount of $50,400 of raw materials on account this means that the transaction will be recorded as:

Mar 31

Dr Raw materials $50,400

Cr Account pay $50,400

B. Based on the information given we were told that the company incurs the amount of $61,300 of factory labor costs this means that the transaction will be recorded as:

31

Dr Factory labour $61,300

Cr Factory wages $61,300

6 0
4 years ago
The Boeing Company buys $3 million worth of steel, $2.5 million worth of computer hardware and software, and $1 million worth of
astraxan [27]

Answer:

The value added by Boeing is equal to:A)$3.5

Explanation:

Value added is the difference between the price of product or service and the cost of producing it.

Steel           3,0M

Computer    2,5M

Tools            1,0M

  Value Add 3,5M

Boeing          10 M  

3 0
3 years ago
QRM, Inc.'s marginal tax rate is 35%. It can issue 10-year bonds with an annual coupon rate of 7% and a par value of $1,000. Aft
puteri [66]

Answer:

4.87%

Explanation:

In this question , we are asked to calculate the appropriate after-tax cost of new debt for the firm to use in capital budgeting analysis.

PMT = 1000*7% = 70 (indicates the amount of interest payment)

Nper = 10 (indicates the period over which interest payments are made)

PV = 966 (indicates the present value)

FV = 1000 (indicates the future/face value)

Rate = ? (indicates the cost of debt)

After Tax Cost of Debt = Rate(Nper,PMT,PV,FV)*(1-Tax Rate) = Rate(10,70,-966,1000)*(1-.35) = 4.87%

6 0
3 years ago
Your older and wiser sibling has offered to loan you some much needed money to help cover textbook expenses this semester. Since
masya89 [10]

Answer:

80 years

Explanation:

Data provided in the question:

Simple interest rate charged = 1.25% = 0.0125

Now,

Let principal amount be '$x'

we know,  Simple interest = Principal × Interest Rate × Time

Since the debt is doubled this means the interest  is equal to the principal amount

Therefore,

$x = $x × 0.0125 × Time

or

1 = 0.0125 × Time

or

Time = 1 ÷ 0.0125

or

Time = 80 years

3 0
3 years ago
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