Answer:
c-$20,000 to discounts
d-$520,000 to cash
Explanation:
At 2/1/18 the balance of investment account is debt $500,000 and discount account is credit $20,000. On sale of Investment $520,000 the cash and discount account will be debited. Journal Entry Should be as follow:
Account DR. Cr.
Discount $20,000
Cash $520,000
Securities Investment $500,000
Gain on sale $40,000
Answer:
Explanation:
1. Service revenue (December 31, 2013) income statement = $582,735 + $64,000 = $646735
Company also performed $64,000 of services which were neither billed nor paid,adjusting entry:
Dr Accounts receivable 64000
Cr Service revenue 64000
2. Amount reported on the December 31, 2013 balance sheet as unearned revenue = $108,000
unearned revenue - revenue which has not been earned yet, but recorded in accounts
3. Amount reported on the December 31, 2013 balance sheet as accounts receivable = $64,000
Accounts receivable 64000
To service revenue 64000
Answer:
Explanation:
Three types of depreciation relevant are straight line depreciation and number of units basis and double declining method
Straight line
Machine cost - 206,800
salvage value - 16000
Depreciation- 190,800
Useful life - 4 years -
Annual depreciation = 47,700.00
Year 1= 47,700.00
Year 2= 47,700.00
Year 3= 47.700.00
Year 4- 47,700.00
Total= 190,800
B)
Unit basis
Estimated unit = 477000
Actual units produced = 122700+123000+120500+120800= 487,000
Excess unit produced = 487000-477000=10000
Year 1 = 122700/477000*190800= 49,079.99
Year 2= 123000/477000*190800= 49,199.99
Year 3 = 120500/477000*206800= 48,200.00
Year 4 =120800/477000*206800=48,320,00
Total =$194,800
c)
Double decline method
rate = 1/4*2*100=50%
Year 1= 50%* 206800= 103400.00
Year 2 = 50%* 103400= 51700.00
Year 3= 50% * 51700= 25850.00
Year 4 = 50%* 25850=12925.00
total =193875.
Andrea won the Miss Illinois beauty pageant the year she graduated from college. Knowing this, the amount of money she will earn over the course of her adult lifetime is most likely to be MORE THAN that of her peers.
Since she has already won a beauty pageant, it is absolutely clear that she will ear more money than her peers. She will be a unique student among her peers. She might be offered modelling or ad films because of her victory.
Answer:
$90.69
Explanation:
Current share price can be determined by calculating the present value of the cash flows
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow in year 1 to 9 = 15.25
I = 9.2
PV = 90.67
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
