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nikdorinn [45]
3 years ago
5

You purchase 8 pallets of patio stone on account at a cost of $200 per pallet with a 20% contractor discount. You will pay in th

ree installments. How much will the entry for the first installment payment be?
Business
1 answer:
Aleksandr [31]3 years ago
7 0

Answer:

The journal entries should be as follows:

Day 1, you purchase the materials (8 pallets x $200 x 80%)

  • Dr Materials Inventory account 1,280
  • Cr Accounts Payable account 1,280

Day 31, you pay the first installment (= $1,280 / 3)

  • Dr Accounts Payable account 426.67
  • Cr Cash account 426.67

Day 61, you pay the second installment (= $853.33 - $426.66)

  • Dr Accounts Payable account 426.67
  • Cr Cash account 426.67

Day 91, you pay the third installment

  • Dr Accounts Payable account 426.66
  • Cr Cash account 426.66

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Harrison Co. issued 13-year bonds one year ago at a coupon rate of 8 percent. The bonds make semiannual payments. If the YTM on
alex41 [277]

Answer:

$1,197.94

Explanation:

For determining the current dollar price we have to applied the present value formula which is to be shown in the attachment below:

Given that,  

Future value = $1,000

Rate of interest = 5.7%  ÷ 2 = 2.85%

NPER = (13 years  - 1 years) × 2 = 24 years

PMT = $1,000 × 8% ÷2  = $40

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

After applying the above formula, the current dollar price of the bond is $1,197.94

6 0
3 years ago
Compute the total annualized inventory holding and ordering costs when the cost per order (S) is $75, the annual demand (D) is 1
mihalych1998 [28]

Answer:

total annualized inventory holding and ordering costs = $15,000

Explanation:

total number of orders per year = 120,000 units / 1,200 units per order = 100 orders per year

total ordering cost per year = cost per order x number of orders per year = 100 orders per year x $75 per order = $7,500

average inventory = 1,200 units / 2 = 600 units

annualized inventory holding costs = 600 units x 25% holding cost x $50 cost per unit = $7,500

7 0
3 years ago
A firm just paid a dividend of $6 per share. Next year the dividend is expected to grow 8 percent, thereafter 10 percent forever
lawyer [7]

Answer:

26%

Explanation:

MV=Do(1+g)/(Ke-g)

Where MV is market value=$36

Do is current dividend per share=$6

g is growth rate=8%

Ke=?  

By putting above values we get;

36=6(1+.08)/(Ke-.08)

36Ke-2.88=6+.48

36Ke=2.88+6+.48

Ke=9.36/36

Ke=26%

3 0
3 years ago
However, Rina's decision regarding how many workers to use can vary from week to week because her workers tend to be students. E
harkovskaia [24]

Answer:The formula for calculating marginal product of labour is output/no of workers

Explanation:For each day ,you will divide the output by the number of workers to get the MPL

Day 1 = _ because no production took place

Day 2 = 60/1=60

Day 3 = 100/2 =50

Day 4 = 130/3 = 43.3

Day 5 = 150/4 =37.5

Day 6 =160/5 =32

This in in line with the law of diminishing marginal product of labour .

7 0
3 years ago
Read 2 more answers
Suppose you have $10,000 in cash and you decide to borrow another $10,000 at a(n)6% interest rate to invest in the stock market.
elena-14-01-66 [18.8K]

Answer:

D)-26%

Explanation:

The computation of the realized return on your investment is shown below:

= (Rate of return × total investment) - (interest paid)

= (-10% × $20,000) - (6% × $1,000)

= (-$2000 - $600)

= -$2,600

Now  the Rate of return is

=(-$2,600 ÷ $10,000)

= -26%

hence, the realized return on your investment is -26%

Therefore the correct option is D.

3 0
3 years ago
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