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3 years ago

If you see someone moving furtively around your home what should you do

1 answer:

3 0

In this situation, i will probably call 911 and directly report the situation to the police as soon as possible. That person may be there for some innocent resorts, but his/her behavior is really suspicious and it is better to take precaution rather than have to deal with potential unwanted consequences

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Crane Company purchased equipment on January 1 at a list price of $120000, with credit terms 4/10, n/30. Payment was made within

Brrunno [24]

Answer:

The cost of equipment = $127,650

Explanation:

According to International Accounting Standards (IAS) 16, property plants and equipment, the cost of land includes all of the cost necessary to bring and make it ready for the intended use.

These costs include purchase cost, fees and commission associated with the purchase transaction.

Here in this question the installation charges, sales taxes and the cost of concrete slab all fall within the definition of IAS 16

The quotation 4/10, n/30 implies that if payment is made within =10 days, Crane would get 4% off the initial purchase price.

Since the payment was made within the discounted period, the net purchase price would be

Purchase price = 120,000 - (4%× 120,000)= 115,200

The cost of equipment = 115,200 +4,750 + 2,100 + 5600= 127650

The cost of equipment = $127,650

4 0

2 years ago

Sheridan Inc. reported total assets of $6408000 and net income of $503000 for the current year. Sheridan determined that invento

adoni [48]

Solution:

Given,

Total assets = $6408000

Net income = $503000

Now , to calculate corrected amount for total assets and net income for the year :

503000 + 137000 = 640,000

The corrected amount for total assets and net income for the year : 640,000

8 0

3 years ago

You have just taken out an installment loan for $100,000. Assume that the loan will be repaid in 12 equal monthly installments o

Natalka [10]

Answer:

The answer is: $7,757.22 of the third month's payment will go toward the repayment of principal

Explanation:

Using the information given;

loan principal $100,000
12 monthly payments of $9,456

We must first determine the APR, using an excel spreadsheet function:

=RATE(nper,pmt,pv) = RATE(12,-9456,100000) = 2% per month

Then we make an amortization table.

M Beginning bce. scheduled pmt principal interest ending bce

1 $100,000 $9,456 $7,456 $2,000 $92,544

2 $92,544 $9,456 $7,605.12 $1,850.88 $84,938.88

3 $84,938.88 $9,456 $7,757.22 $1,698.78 $77,181.66

4 0

3 years ago

Chillmax Company plans to sell 3,500 pairs of shoes at $60 each in the coming year. Unit variable cost is $21 (includes direct m

zmey [24]

Answer:

Contribution Margin Income Statement

Sales (3,500 × $60) $210,000 100%

Less Variable Costs (3,500 × $21) ($73,500) 35%

Contribution $136,500 65%

Less Fixed Costs :

Fixed Factory Overhead Costs ($30,000)

Fixed Selling and Administrative Costs ($48,000)

Net Income / (Loss) $58,500

Explanation:

Variable Cost Ratio = Variable Cost / Sales × 100

= $21 / $60 × 100

= 35 %

Contribution Margin Ratio = Contribution / Sales × 100

= ($60 - $21) / $60 × 100

= 65%

Contribution Margin Income Statement

Sales (3,500 × $60) $210,000 100%

Less Variable Costs (3,500 × $21) ($73,500) 35%

Contribution $136,500 65%

Less Fixed Costs :

Fixed Factory Overhead Costs ($30,000)

Fixed Selling and Administrative Costs ($48,000)

Net Income / (Loss) $58,500

4 0

3 years ago

On July 5, a company’s accountant downloaded the firm’s June 30 bank statement from the bank website. The accountant noted that

Black_prince [1.1K]

Answer:

Electronic funds transfer for $9,800 from Terra Cota Cataluna

Effect of Transaction on the June 30 Bank Reconciliation:

Since it had not been recorded in the accounting books, it will make the balance in the bank statement to exceed the cash account balance by $9,800.

Explanation:

This transaction is regarded as direct credit in the bank account. It causes a discrepancy between the bank statement balance and the cash account balance.

In preparing the bank reconciliation statement, if you start with the balance as per the cash account, then will add this to this balance. If it is the only item for reconciliation of the bank statement, it will make the cash account balance to agree with the bank statement balance.

To correct this, a record (journal entry) will be made by debiting the Cash Account and crediting the Accounts Receivable account.

7 0

3 years ago