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Alina [70]
3 years ago
13

Q 8.2: On June 15th, Buehler Company sells merchandise on account to Chaz Co. for $1,000, terms 2/10, n/30. On June 20th, Chaz C

o. returns merchandise worth $300 to Buehler Company. On June 24th, payment is received from Chaz Co. for the balance due. What is the amount of cash received?
Business
1 answer:
densk [106]3 years ago
5 0

Answer:

The amount received in cash is $686

Explanation:

The amount which is received in cash is computed as:

On June 20, the amount of $300 goods returns from customer, so the remaining balance is

= $1,000 - $300

= $700

On the remaining balance, the discount which is evaluated as the payment is received within the discount period which is June 24. So,

= $700 x  (100% - 2%)

= $ 700 x  98%

= $ 686

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A city government adds streetlights within its boundaries at a total cost of $300,000. These lights should burn for at least 10
tekilochka [14]

Answer: See explanation

Explanation:

a. Prepare the entries assuming infrastructure assets are capitalized with depreciation recorded on government-wide financial statements.

1. Debit: Infrastructure assets—street lights $300,000

Credit: Cash $300,000

(To record cash purchase of street light

2. Debit: Depreciation expense $300,000/10 = $30,000

Credit: Accumulated depreciation—infrastructure assets $30,000

(To record depreciation expense)

3. Debit: Maintenance expense—infrastructure assets $48000

Credit: Cash $48000

(To record maintenance expense)

4. Debit: Infrastructure assets—street lights $78000

Credit: Cash $78000

(To record cash expense for new light)

b. Prepare the entries assuming infrastructure assets are capitalized with government using the modified approach on government-wide financial statements.

1. Debit: Infrastructure assets—street lights $300,000

Credit: Cash $300,000

(To record purchase of street light)

2. Debit: Maintenance expense—infrastructure assets $48000

Credit: Cash $48000

(To record maintenance expense)

3. Debit: Infrastructure assets—street lights $78000

Credit: Cash $78000

(To record cash expense for new light)

3 0
3 years ago
Frank and Bridge Books is a book reseller that has both a heavy online presence and 30 physical bookstores. Frank and Bridge Boo
NISA [10]

The Frank and Bridge Books is a book reseller that has both a heavy online presence and 30 physical bookstores. Frank and Bridge Books is an example of a click-and-mortar business. Therefore, option C is the correct option.

<h3>What is a business?</h3>

A business is an economic activity that includes the purchasing and selling of manufactured products and services which take place in exchange for currency.

There are many businesses in the world with different purposes and reasons. The owners of the businesses decide upon the vision and work in order to achieve that vision.

Since then, Frank and Bridge Books is a book distributor with 30 physical bookstores in addition to a sizable online presence. A good example of a click-and-mortar company is Frank and Bridge Books. As a result, choice C is the best one.

Learn more about business here:

brainly.com/question/8119526

#SPJ1

7 0
2 years ago
Suspect Corp. issued a bond with a maturity of 30 years and a semiannual coupon rate of 6 percent 4 years ago. The bond currentl
kifflom [539]

Answer and Explanation:

The computation of each point is shown below:-

But before that we need to do the following calculations

First Issue of Bonds:

Face Value = $45,000,000

Market Value = 95% × $45,000,000

= $42,750,000

Annual Coupon Rate = 6%

Semiannual Coupon Rate = 3%

= 3% × $45,000,000

= $1,350,000

Time to Maturity = 26 years

Semiannual Period to Maturity = 52

Let semiannual YTM be i%

$42,750,000 = $1,350,000 × PVIFA(i%, 52) + $45,000,000 × PVIF(i%, 52)

N = 52

PV = -42750000

PMT = 1350000

FV = 45000000

I = 3.20%

Semiannual YTM = 3.20%

Annual YTM = 2 × 3.20%

Annual YTM = 6.40%

Before-tax Cost of Debt = 6.40%

After-tax Cost of Debt = 6.40% × (1 - 0.40)

= 3.84%

Second Issue of Bonds:

Face Value = $50,000,000

Market Value = 54% × $50,000,000

= $27,000,000

Time to Maturity = 15 years

Semiannual Period to Maturity = 30

Let semiannual YTM be i%

$27,000,000 = $50,000,000 × PVIF(i%, 30)

Using a financial calculator:

N = 30

PV = -27000000

PMT = 0

FV = 50000000

I = 2.075%

Semiannual YTM = 2.075%

Annual YTM = 2 × 2.075%

= 4.15%

Before-tax Cost of Debt = 4.15%

After-tax Cost of Debt = 4.15% × (1 - 0.40)

= 2.49%

a. The total book value of debt is

Total Book Value of Debt = $45,000,000 + $50,000,000

= $95,000,000

b. The total market value of debt is

Total Market Value of Debt = $42,750,000 + $27,000,000

= $69,750,000

c. The estimate of the aftertax cost of debt is

Weight of first Issue of Debt is

= $42,750,000 ÷ $69,750,000

= 0.6129

Weight of second issue of Debt

= $27,000,000 ÷ $69,750,000

= 0.3871

So,  

Estimated After-tax Cost of Debt is

= 0.6129 × 3.84% + 0.3871 × 2.49%

= 3.32%

6 0
3 years ago
What does "pivoting" mean in the process of concept development?
olga55 [171]

Answer:

identifying data required to validate a concept

7 0
2 years ago
Boise Timber Co. computes its break-even point strictly on the basis of cash expenditures related to fixed costs. Its total fixe
JulsSmile [24]

Answer:

285,000 units

Explanation:

The computation of the cash break-even point of sales units is shown below:

Cash break-even point = (Fixed cost - depreciation) ÷ (contribution margin per unit)

where,

Fixed cost = $7,600,000

Depreciation = $7,600,000 × 0.25% = $1,900,000

And, the contribution margin per unit is $20

So, the cash break-even point of sales units is

= ($7,600,000 - $1,900,000) ÷ ($20)

= 285,000 units

8 0
3 years ago
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