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3 years ago

Fil in the blanks with options given in below:

Business

1 answer:

Andrej [43]3 years ago

7 0

Answer:

1. revenues

2. revenues

3. Incurred

Explanation:

Accrual basis is one of the methods used in preparing Financial statement. It records transaction when they are incurred or when they happen irrespective of whether cash has been paid or not.

Cash basis is a another one. It recognizes transactions only when the cash has been given.

Accrual basis accounting recognizes REVENUE when the service or product is delivered and records REVENUE when INCURRED in order to adhere to the matching principle

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Explanation:

The journal entries are as follows

Merchandise Inventory A/c $254,500

To Accounts payable A/c $254,500

(Being merchandise purchased on credit)

Account payable Dr $30,000

To Merchandise inventory $30,000

(Being the merchandise returned is recorded)

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3 years ago

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2 years ago

A proposed project has an initial cost of $38,000 and cash inflows of $12,300, $24,200, and $16,100 for years 1 through 3, respe

In-s [12.5K]

Answer:

IRR is greater than required return by 17.38 - 16.8 % = 0.58 %

so project will accept

Explanation:

given data

initial cost = $38,000

cash inflows year 1 = $12,300

cash inflows year 2= $24,200

cash inflows year 3 = $16,100

rate of return = 16.8 %

solution

we consider here IRR is = x so

present value of inflows is equal to present value of outflows .............1

we can say that it as

initial cost = present value

3800 = $\frac{12300}{1*x} +\frac{24200}{(1*x)^2} +\frac{16100}{(1*x)^3}$

solve it we get

x = 17.38%

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so project will accept

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3 years ago