Answer:
Fiona Sporty
Indication of Journals for Transactions:
a) Purchased inventories on credit (Purchases Journal)
b) Sales of inventory on credit (Sales Journal)
c) Received payment of a customer’s account (Cash Receipts Journal)
d) Payment of monthly rent by cheque (Cash Payments Journal)
e) End of period closing entries (General Journal)
Explanation:
Journals are used to record business transactions as they occur on a daily basis. They are the first records of business transactions in the accounting books. From the journal, transactions are posted to the general ledger. Journals also determine the accounts to be debited and credited respectively. While some of these journals are for specific transactions, e.g. Purchases Journal, the General Journal is mostly used for all transaction-types, but more especially for adjusting and closing entries and for correction of accounting errors.
Answer:
1) payment of $ 78,867.70
2) payment of $ 62,614.11
3) 7 years
4) rate of 12%
Explanation:
On the first and second point we need to solve for the PMT:
PV $250,000.00
time 4
rate 0.1
C $ 78,867.701
PV $250,000.00
time 5
rate 0.08
C $ 62,614.114
In the third one we need to solve for time:
C $51,351.00
time n
rate 0.1
PV $250,000.0000
we work to reach this expression:
![(1+0.1)^{-n}= 1-\frac{250000\times0.1}{51351}](https://tex.z-dn.net/?f=%281%2B0.1%29%5E%7B-n%7D%3D%201-%5Cfrac%7B250000%5Ctimes0.1%7D%7B51351%7D)
ANd we acn use logarithmics properties to solve for n
[tex]-n= \frac{log0.51315456368912}{log(1+0.1)
-n = -7.000072677
n = 7 years
Lastly, on the fourth, we need to solve for the rate, which is done using excel if we want an exact result and save time.
we list each value.
-250,000
104, 087
104, 087
104, 087
And calculate IRR by selecting this values.
12.0%
The current ratio expressed as a proportion is 2.5
Explanation:
Given :
The current assets = $292400
The current liabilities are $116960.
To find :
The current ratio
Solution :
Current Ratio =
![\sf{\dfrac{Current \: Assets }{Current \: Liabilities}}](https://tex.z-dn.net/?f=%5Csf%7B%5Cdfrac%7BCurrent%20%5C%3A%20Assets%20%7D%7BCurrent%20%5C%3A%20Liabilities%7D%7D)
![\sf{\implies{\dfrac{292400}{116960}}}](https://tex.z-dn.net/?f=%5Csf%7B%5Cimplies%7B%5Cdfrac%7B292400%7D%7B116960%7D%7D%7D)
2.5
Therefore, The current ratio expressed as a proportion is 2.5
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Answer: Option C
Explanation: In simple words, expenses refers to outflow of money from the pockets or account of any individual or an entity with the objective of acquiring or producing something.
Manufacturing cost refers to the amount of resources that were out flowed the organisation while producing a good or service. Since the resources are getting out flowed, these costs are always recorded as expense over the operational life of the entity.
Labor cost, electricity bill of machines and purchase cost of raw materials etc are some of many examples of manufacturing cost.