The May transactions for Charlie Company (seller) assuming that Charlie uses a perpetual inventory system are:
Charlie Company Journal entries
May 13
Debit Account receivable $360
(8×$45)
Credit Sales $360
(To record credit sales)
May 13
Debit Cost of goods sold $208
(8×$26)
Credit Merchandise inventory $208
(To record cost of goods sold)
May 16
Debit Sales return and allowances $45
Credit Account receivable $45
(To record goods returned)
May 16
Debit Merchandise inventory $26
Credit Cost of goods sold $26
(To record cost of goods sold returned)
May 23
Debit Cash $302
($315-$13)
Debit Sales discount $13
(4%×$315)
Credit Account receivable $315
($360-$45)
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Answer:
Total cost= $40.3
Explanation:
Giving the following information:
The activity rates associated with each activity pool are:
$8.30 per guest check-in
$20.00 per room cleaning
$4.00 per served meal (not including food).
Tara Washington visited the hotel for a 3-night stay. Washington had 6 meals in the hotel during her visit.
Total cost= 8.30*1 + 20*1 + 4*3= $40.3
Answer:
The dividend payout ratio is 43.33% as shown below
Explanation:
EBIT is an acronym for earnings before interest and tax, it is given as $2 million.In other words, to arrive at net income we need to deduct interest on loan and tax.
EBIT $2000000
less interest(5000000*10%) ($500000)
Earnings before tax $1500000
Tax @40% ($600000)
Net income $900000
Since capital project requires 60% of equity(net income belongs to equity holders),hence we need to deduct 60% of capital outlay from net income to arrive at distributable earnings.
distributable earnings =$900000-(60%*$850000)
=$390000
Hence dividend payout ratio=distributable earnings/net income
=$390000/$900000
=43.33%
Banks and Credit Unions usually charge the lowest rates on loans.
The manager of sporting items for outdoor adventures is Ezra. His monetary outlays have outpaced his cash receipts during the last six months. The outdoor adventure industry has a cash flow issue.
Although profitability may be the most important indicator of a company's success, maintaining a steady level of cash flow on a daily basis is essential if your organization is to survive and expand.
When the amount of money leaving the organization exceeds the amount of money coming in, there is a cash flow issue. This results in a lack of liquidity, which might hinder your capacity to pay bills, make loan repayments, and run business profitably.
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