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german
3 years ago
10

On November 1, 2018, Cullumber Farm entered into a contract to buy a $162000 harvester from John Deere. The contract required Cu

llumber Farm to pay $162000 in advance on November 1, 2018. The harvester (cost of $122000) was delivered on November 30, 2018. The journal entry to record the contract on November 1, 2018 includes a credit to Unearned Sales Revenue for $162000. debit to Unearned Sales Revenue for $162000. credit to Sales Revenue for $162000. credit to Accounts Receivable for $162000.
Business
1 answer:
Vikki [24]3 years ago
3 0

Answer:

The journal entry to record the contract on November 1, 2018 includes: credit to Accounts Receivable for $162000

Explanation:

Following the Accrual accounting - an accounting method that revenue or expenses are recorded when a transaction occurs rather than when payment is received or made. On November 1, 2018, Cullumber Farm had to pay $162,000 in advance to John Deere. John Deere recorded the cash receiving by the entry:

Debit Cash $162,000

Credit Accounts Receivable $162,000

The company did not record revenue because they did not sell the harvester. This was only the advance payment.

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Answer:

Explanation:

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<u>Second bond:</u>

  • Coupon rate = 8%
  • Par value = $1,000
  • Semiannual coupon amount = 1000 x 8%/2 = $40
  • Time to maturity = 6 years = 12 semiannual periods
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To get price of this bond we will use PV function of excel:

= PV (rate, nper, pmt, fv, type)

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3 years ago
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Answer:

the Expected rate of return will be 8.2%

the variance will be 0.001296

Explanation:

We will calculate the Expected Rate of Return which is the sum of the wieghted return based on their probabilities:

return of 0.15 probability 20%  =  0.03

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Now to calculate the variance we do:

∑(rk-ERR)^2 x pk

The sum of the difference between the expected rate and the escenario rate, power two, and multiply by their posibility

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Wooten &amp; McMahon Enterprises produces a product with the following per-unit costs: Direct materials $13.00 Direct labor 8.80
vichka [17]

Answer:

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Giving the following information:

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