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Stolb23 [73]
2 years ago
5

The following were selected from among the transactions completed by Caldemeyer Co. during the current year. Caldemeyer sells an

d installs home and business security systems.Jan. 3 Loaned $18,000 cash to Trina Gelhaus, receiving a 90-day, 8% note.Feb. 10 Sold merchandise on account to Bradford & Co., $24,000. The cost of the goods sold was $14,400.13 Sold merchandise on account to Dry Creek Co., $60,000. The cost of goods sold was $54,000.Mar. 12 Accepted a 60-day, 7% note for $24,000 from Bradford & Co. on account.14 Accepted a 60-day, 9% note for $60,000 from Dry Creek Co. on account.Apr. 3 Received the interest due from Trina Gelhaus and a new 120-day, 9% note as a renewal of the loan of January 3. (Record both the debit and the credit to the notes receivable account.)May 11 Received from Bradford & Co. the amount due on the note of March 12.13 Dry Creek Co. dishonored its note dated March 14.July 12 Received from Dry Creek Co. the amount owed on the dishonored note, plus interest for 60 days at 12% computed on the maturity value of the note.Aug. 1 Received from Trina Gelhaus the amount due on her note of April 3.Oct. 5 Sold merchandise on account, terms 2/10, n/30, to Halloran Co., $13,500. Record the sale net of the 2% discount. The cost of goods sold was $8,100.15 Received from Halloran Co. the amount of the invoice of October 5, less 2% discount.Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year. Assume this is a year in which February has 28 days.
Business
1 answer:
RideAnS [48]2 years ago
6 0
I’m sorry that’s to much to read I can’t help you with this one
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"An expenditure made in connection with a machine being used by a company to produce inventory should be expensed immediately if
Ipatiy [6.2K]

Answer:

True

Explanation:

Efficiency related expenditures are more closely with day-to-day servicing of the machine. Such an expenditure just maintains machine's capacity to save the future economic benefits rather than improve its capacity.

4 0
3 years ago
Thomas purchased 200 shares of stock A for ​$23 a share and sold them more than a year later for $ 19 per share. Be purchased 60
Delicious77 [7]

Answer:

Capital gain tax = $1,540.

Explanation:

As per the data given in the question,

For stocks of A  

Profit = (selling price - purchasing price) × units

= ($19 - $23) × 200

= -$800

For stocks of B  

Profit = ($57-$41) × 600

= $9,600

Total profit = profit for stock A + profit for stock B  

= -$800 + $9,600

= $8,800

Therefore, capital gain for both year = $8,800

Tax rate = 35%

Capital gain tax = Capital gain × Tax rate

= $8,800 × 35%

=$3,080

As share holds for more than a year,

So, Capital gain tax = $3,080 ÷ 2 = $1,540.

5 0
2 years ago
What is a credit union?
KIM [24]
D.) A cooperative lending institution for a particular group.


Typically, you must be a member to participate in a credit union.
4 0
3 years ago
Read 2 more answers
A strategic alliance is an organizational relationship that links two separate businesses. an unimportant organizational form in
Elena-2011 [213]

Answer: an organizational relationship that links two separate businesses

                                   

Explanation: In simple words, strategic alliance refers to the business arrangement in which two parties combine their activities for attaining mutual objective but still operating as two separate and independent legal entities.

These business arrangement usually lack legal, agency or cooperate affiliated relationship. Generally such business arrangements are made by the organisation to make their processes more effective and helps the organisations in reducing their costs and risk.

6 0
3 years ago
A 16-year, $1,000 par value zero-coupon rate bond is to be issued to yield 6 percent.
Solnce55 [7]

Answer:

a) $393.65

b) $458.11

c) $217.63

Explanation:

Given data:

16-year  ( n )

$1000 par value  ( FV )

6% ( R )

A) determine the initial price of the bond

 = FV / ( 1 + R ) ^ n

= 1000 / ( 1.06 ) ^ 16

= 1000 / 2.5403 = $393.65

B ) when interest rate drops to 5% determine the value of the zero-coupon rate of bond

 = FV / ( 1 + R ) ^n

 = 1000 / ( 1.05 ) ^ 16

 = 1000 / 2.1829  = $458.11

C ) when interest rate increases to 10% determine the value of the zero-coupon rate of bond

=  Fv / ( 1 + R ) ^ n

=  1000 / ( 1.1 ) ^ 16

= 1000 / 4.5950 = $217.63

7 0
2 years ago
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