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Mariulka [41]
3 years ago
10

Crane Co. uses the gross method to record sales made on credit. On June 1, 2017, it made sales of $52,200 with terms 3/15, n/45.

On June 12, 2017, Crane received full payment for the June 1 sale.
1. Prepare the required journal entries for Crane Co.
Business
2 answers:
Artist 52 [7]3 years ago
8 0

Answer:

Explanation:

Crane Co

June 1. Credit: Sales $52,200

Debit: Acc receivable $52,200

Being sales on account

June 12 Debit: Bank. $ 50,634

Debit: Discount Allowed $1,566

Credit: Acc receivable. $52,200

Being payment received on sales

Andrews [41]3 years ago
7 0

Journal entries for Crane Co.

June 1

Dr Accounts Receivable 52,200

Cr Sales Revenue 52,200

June 12

Dr Cash 50,634

Dr Sale Discounts1,566

Cr Accounts Receivable 52,200

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Ehrmann Data Systems is considering a project that has the following cash flow and WACC data. What is the project's MIRR? Note t
jeka94

Answer:

the project's MIRR is 13.84 %

Explanation:

MODIFIED INTERNAL RATE OF RETURN (MIRR)

-It is the rate that causes the Present Value of the Terminal Value (Future Cash flows at the end of the Project) to equal Present Value of Cash outflows.

-MIRR assumes a reinvestment rate at the end of the project

The First Step is to Calculate the Terminal Value at end of year 3.

Terminal Value (FV) = Sum of (PV x (1 + r) ^ 3 - n)

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                   = $534.65 + $490.50 + $450.00

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The Next Step is to Calculate the MIRR using a Financial Calculator :

(-$1,000)          CFj

0           CFj

0           CFj

$1,475.15   CFj

Shift IRR/Yr 13.84 %

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3 years ago
An organization characterized by direct two-way lines of responsibility and communication running from the top of the organizati
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