Answer:
Following journal entries for the original purchase, dividend, and sales are:
February 12,
Cost for Investment is Recorded [(6000 × 22) + 240] = 132240
Debit: Investment in Equity = 132240
Credit: Cash =132240
August 22,
Dividend Received (6000 × 0.42) = 2520
Debit: Cash = 2520
Credit: Dividend Income = 2520
November 10,
Debit: Cash [(4000 × 28) - 160) = 111840
Credit: Investment in Equity [132240 × 4000 / 6000] = 88160
Credit: Gain on Sale of Investment = 23680
Answer:
Explanation:
Purchase discount = $4000 * 2% = $80
Date Accounts title Debit Credit
Dec-15 Accounts Payable $4,000
Purchase Discounts $80
Cash $3,920
(To record payment within discount term of 10 days)
Answer:
<h2>St. Pierre Enterprises</h2>
Computation of Cash Collected from Customers:
Cash collected from customers $340,000
Explanation:
A) Accounts Receivable
Beginning Balance $68,000
Sales 375,000
less ending balance (103,000)
Cash collected $340,000
B) The cash collection from customers is the difference between the beginning balance and the sales for the current year minus the ending balance, all other things being equal. If you want to double-check this, you can start with the beginning balance, add the sales and subtract this cash collection from the sum to obtain the ending balance, thus:
Beginning Balance $68,000
Sales 375,000
Total outstanding $443,000
less cash collection 340,000
Ending balance $103,000
Answer:
Variance = 0.02141851
Explanation:
We first calculate the mean for the stocks
Mean = (0.1858 - 0.0558 + 0.2081) / 3
Mean = 0.3381 / 3
Mean = 0.1127
Variance = [(0.1858 - 0.1127)^2 + (- 0.0558 - 0.1127)^2 + (0.2081 - 0.1127)^2] / 3 -1
Variance = [0.0731^2 + (-0.1685^2) + 0.0954^2] / 2
Variance = 0.00534361 + 0.02839225 + 0.00910116 / 2
Variance = 0.04283702 / 2
Variance = 0.02141851
The variance of returns is 0.02141851
Answer:
A notice which says "the letter is Unclassified when separated from classified enclosures"
Explanation: