I think it's guessing from context? Hope I helped!
Answer:
Answer is explained in the explanation section below.
Explanation:
Part A: In part a, we are required to show the effects on the financial statements using horizontal statements model.
For that, we need to tabulate the entries properly. So, it cannot be done be done here in the typing section. So, I m putting it into the attachments. Please refer to the attachment for the part a solution.
Part B:
Reason of the difference:
Cash revenue is $8650 but cash flow amount is $9600
Total operating expense incurred is $3350 but the amount paid only $2700
It will create $650 difference income statement and cash flow.
These activities are reasons for the differences between cash flow from the operating activity and net income.
Answer:
n= 39.49 years
Explanation:
Giving the following information:
Present value (PV)= $2,600
Future value (FV)= $4,375
Interest rate (i)= 0.33/100= 0.0033
<u>To calculate the number of years, we need to use the following formula:</u>
n= ln(FV/PV) / ln(1+i)
n= ln(4,375/2,600) / ln(1.0033)
n= 157.96/4
n= 39.49 years
Answer:
Apr.8
Dr Account Receivable - Suntrust Bank $8,256
Dr Credit card expenses $344
Cr Sales $8,600
(to record sales, payment through credit card issued by Suntrust Bank)
Apr.12
Dr Account Receivable - Continental Card $7,995
Dr Credit card expenses $205
Cr Sales $8,200
(to record sales, payment through credit card issued by Continental Card)
Explanation:
The credit card expenses of the two transaction is calculated as: Sales proceed x % of fee
Thus, the sales made in 8 Apr has the credit card expenses of 8,600 x 4% =$344.
The sales made in 12 Apr has the credit card expenses of 8,200 x 2.5% =$205.
Answer:
cross-coupon
Explanation:
The type of sales promotion being represented is known as a cross-coupon. This is a redeemable coupon/savings for a specific product and is given to the customer on the purchase of a different product that was made by the same company. This is usually through a tie-in with another manufacturer, in order for them to increase their sales and ultimately their profits by enticing customers to buy more products from the company.
