Answer:
Part a
Debit : Accounts Receivable $18,000
Debit : Cost of Sales $10,800
Credit : Sales Revenue $18,000
Credit : Inventory $10,800
Part b
Debit : Cash $16,200
Debit : Discount allowed $1,800
Credit : Accounts Receivable $18,000
Part c
Debit : Accounts Receivable $600
Credit : Cash $600
Explanation:
The perpetual method calculates the cost of sales for each transaction made.
See the journals prepared as above
Answer:
Emily’s cost basis in the new building is $900,750.
Explanation:
Cost basis in the new building
= Purchase price of building + legal fees + Cost of interior design
= $895,000 + $450 + $5,300
= $900,750
Therefore, Emily’s cost basis in the new building is $900,750.
Explanation:
I = Prt
I = (10000)(.11)(4) = $4400
Total Cost = Down Payment + Principal Borrowed + Interest
Total Cost = 2000 + 8000 + 4400
= $14,400
Monthly Payment = (Principal Borrowed + Total interest) / Total number of payments
Monthly Payment = (10,000 + 4400) / 48
= $300
APR= (2 × n × I) / [P × (N + 1)]
APR = (2 × 12 × 4400) / [10,000 × (48+1)]
= 21.55%
FOR:
- increased income for workers
- more workers attracted to the workforce
- less strain on federal resources for those in poverty
Against
- more costly for businesses
- possible unemployment due to job automation
- higher prices for consumers.
Here are some basic arguments. You will need to explain these a bit more for your assignment though.
