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ANTONII [103]
2 years ago
5

Which one of the following is a source of cash? Select one: A. Decrease in inventory B. Increase in fixed assets C. Decrease in

accounts payable D. Decrease in common stock E. Increase in accounts receivable
Business
1 answer:
FromTheMoon [43]2 years ago
4 0

Answer:

A. Decrease in inventory

Explanation:

A decrease in inventory means that inventory is being sold therefore there is consequently a increase in cash.

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Required information Exercise 6-9A Record transactions using a perpetual system (LO6-5) Skip to question [The following informat
Korolek [52]

Answer:

Littleton Books

Journal Entries:

May 2 Debit Inventory $3,300

          Credit Accounts Payable (Readers Wholesale) $3,300

To record the purchase of books on account, terms, 1/10, n/30.

May 3 Debit Freight-in $200

          Credit Cash Account $200

To record the payment of freight costs for books purchased from Readers.

May 5 Debit Accounts Payable (Readers Wholesale) $400

          Credit Inventory $400

To record the return of books.

May 10 Debit Accounts Payable (Readers Wholesale) $2,900

            Credit Cash Discount Received $29

            Credit Cash Account $2,871

To record the settlement of account.

May 30 Debit Accounts Receivable $4,000

            Credit Sales Revenue $4,000

To record the sale of books on account.

May 30 Debit Cost of goods sold $2,900

            Credit Inventory $2,900

To record the cost of goods sold.

Explanation:

The journal entries in Littleton Books' accounting records show the accounts to be debited and credited as they occur on a daily basis.

6 0
2 years ago
Rhubarb pie is a dessert. therefore, whoever eats rhubarb pie eats a dessert
miskamm [114]
The argument above is a deductive reasoning. A deductive reasoning draws a conclusion from a series of premises that are held to be true. The argument also employs no informal fallacy. The confusion lies though on the first premise if it is true.
5 0
3 years ago
Joseph buys a Hummer for $59,000, financing it with a five-year 7.60% APR loan paid monthly. He decides to pay an extra $50 per
Alex Ar [27]

Answer:

57.07 months.

Joseph must decide whether the 57th payment was $1,327, or he can pay a 58th payment of just $92.

Explanation:

The easiest way to calculate a monthly payment is using a payment calculator:

  • principal = 59,000
  • n = 60
  • APR = 7.6%

Monthly payments = $1,185.04

Since Joseph will pay an extra $50 each month, his payment = $1,235.04

By paying that extra amount Joseph will reduce his payments by almost 3 months to 57.07 months

After the 57th payment, Joseph' balance = $91.43, so he can decide to pay a little on the 57th payment or just pay $92 next month.  

7 0
3 years ago
Madison Company issued an interest-bearing note payable with a face amount of $10,800 and a stated interest rate of 8% to the Me
Aleks [24]

Answer:

$360

Explanation:

Interest Expense associated with the loan is the only operating cash flow. We need to calculate the interest expense first

As the note is issued on August 1, year 1, only  5 months has been passed on December 31, year 1, So we calculate the interest expense for only 5 months.

Interest Expense = Value of Note x Stated Interest rate x 5/12 = $10,800 x 8% x 5/12 = $360

It is assumed that the interest is paid on December 31, year 1.

4 0
3 years ago
Jamie is analyzing the estimated net present value of a project under various conditions by revising the sales quantity, sales p
Brut [27]

Answer:

C. Scenario Analysis

Explanation:

Scenario Analysis is analysis of computing the Net Present Value by changing various variables, that is change in values of Sales, Variable Cost, Revenue, Cost of project and various other things. Basically it measures the Net Present Value with respect to various factors associated with calculating the net present value, as Jamie is calculating Net Present Value with different factors, that is in different scenarios, it is called Scenario Analysis.

8 0
3 years ago
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