Answer: Debit Accounts Receivable -Valley Spa of $10,438 Credit interest revenue $238, Credit Notes receivable $10,200
Explanation:
Interest Revenue = Principal x Rate X time
$10,200 x 14% x 60/ 360 ( Using 360 days in a year)
$238
Journal to record dishonored note for Tubman
Accounts titles and explanation Debit Credit
Accounts receivable $10, 438
Interest revenue $238
Notes receivable $10,200
The better Project is Project S having a NPV of $17.968 and IRR of 12.10 %
IRR:
- An approach to capital budgeting that is used to assess the profitability of a project is the discounted payback time. Internal rate of return is one of these capital planning strategies (IRR).
- This rate of return corresponds to the point at which a project's net present value equals zero. Since it does not account for any outside forces, such as inflation, they call it internal.
The calculator's capabilities will be utilized to determine the IRR,
Project S
- CF0 = (1,000)
- CF1 = 882.62 & F01 = 1
- CF2 = 250 & F02 = 1
- CF3 = 15 & F03 = 1
- CF4 = 5 & F04 = 1
- I = 10.5%
- [NPV] [CPT]
- The NPV is $17.968
- [IRR] [CPT]
- The IRR will come as 12.10%
- Project L
- CF0 = (1,000)
- CF1 = 0 & F01 = 1
- CF2 = 260 & F02 = 1
- CF3 = 420 & F03 = 1
- CF4 = 732.87 & F04 = 1
- I = 10.5%
- [NPV] [CPT]
- The NPV is $15.78
- [IRR] [CPT]
- The IRR will come as 11.03%
- The better Project is Project S having a NPV of $17.968 and IRR of 12.10%
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Answer: $7,740
Explanation:
Given, At December 31, Accounts receivable = $238,000
Allowance for uncollectible accounts = 3% of (accounts receivable)
∴ Allowance for uncollectible accounts = 3% of ($238,000 )
=$(0.03 ×238,000) [3% = 0.03]
= $ (7140)
= $7,140
Allowance for uncollectible accounts (credit) before any adjustments= $600
The amount of the adjustment for uncollectible accounts = Allowance for uncollectible accounts + $600
= $7,140 + $600
= $7,740
Hence, The amount of the adjustment for uncollectible accounts would be: <u>$7,740.</u>
Answer:
Master Production Schedule (MPS)
Explanation:
Master production schedules are plans for individual products to be produced. The plans specify the time a specific product is produced, inventory needs, staffing needs, etc. A master production schedule or MPS will quantify raw materials, processes, and other resources needed to optimize production. (optessa.com)
Answer:
A. $24,000
Explanation:
The missing information is shown below:
Allen capital $60,000
Burns capital $30,000
Costello capital $90,000
For computing the balance of Burns’s capital account, first we have to determine the different amount which is shown below:
= Paid amount - Costello capital
= $100,000 - $90,000
= $10,000
This bonus amount would be deducted from the remaining partner's balances in the ratio of 3:2
For Burns, it would be
= $10,000 × 3 ÷ 5
= $6,000
So, the burns capital amount would be
= $30,000 - $6,000
= $24,000
