Answer:
Debit Inventory $40,600
Credit Cash account $40,600
Being entries to recognize the cost of inventory
Explanation:
The initial recognition of inventory is to be done including all the cost incurred in bring inventory to the place of use or storage. These includes freight and the cost of the item. When inventory is purchased on account, entries required are Debit Inventory, credit account payable. Where cash is paid, the debit is same but the credit entry is posted to the cash account.
Hence total cost incurred (which is the cost of inventory)
= $40,000 + $600
= $40,600
Answer:
Jerry should conduct the study so the study will ease up Jerry in reaching his decision accordingly.
Explanation:
The decision trees for both with or without the market research are attached herewith.
The yield to maturity of the bond, which pays $80 in annual coupon with a face value of $1,000 and currently sells for $1,200 with 20 years remaining until maturity is 6.22%.
<h3>What is yield to maturity?</h3>
The yield to maturity shows the percentage rate of return for a bond when the investor holds the asset until its maturity date.
The yield to maturity can be computed using an online finance calculator as follows:
<h3>Data and Calculations:</h3>
Face value = $1,000
Bond price = $1,200
Annual coupon rate = 8% ($80/$1,000 x 100)
Years to maturity = 20 year(s)
Result:
Yield to maturity (YTM) = 6.22%
Thus, the yield to maturity of the bond, which pays $80 in annual coupon with a face value of $1,000 and currently sells for $1,200 with 20 years remaining until maturity is 6.22%.
Learn more about calculating yield to maturity at brainly.com/question/17073732
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Answer: Yes it is true that A general partner is responsible for any debts of the partnership, regardless of whether he or she was directly involved in the transaction that created the debt.
<u>Explanation:</u>
In the case of the general partnership, all the partners have unlimited liability and the same authority. Here the term unlimited liability means that they are personally responsible for the debts of the firm. It means their personal properties like their cars, houses, etc will also be taken into consideration for paying back the debts. So whether the partner was involved directly or not in any debt transaction he will be liable for it.
There is an equal distribution of authority in general partnership. So this type of partnership is possible only in the case of small organizations but not in case big concerns.