We need to see that table pls send a picture to it also if u may pls mark me braliest
Answer:
Journal entry to record the Sale of Patent
Debit : Cash $750,000
Credit : Patent at Book Value $120,000
Credit : Profit and Loss $630,000
Journal entry to record the Sale of Equipment
Debit : Cash $325,000
Debit : Profit and loss $75,000
Debit : Accumulated depreciation $150,000
Credit : Equipment at Cost $550,000
Explanation:
During a sale transaction the entity recognizes 1. The Cash Proceeds resulting from the sale, 2. The Profit or loss resulting from the sale, 3.The entity derecognizes the Cost or Book Value of the Asset as well as the Accumulated depreciation.
A profit of $630,000 has been earned as a result of the sale of the Patent, whereas a loss of $75,000 has been incurred as a result of sale of Equipment.
Answer:
c. $18, 750
Explanation:
The computation of the amount of interest expense i.e. accrued is shown below:
= Issued amount × yield on the bonds × given months ÷ total number of months in a year
= $562,500 × 10% × 4 months ÷ 12 months
= $18,750
The 4 months is calculated from July 1 to October 31
Hence, the correct option is c. $18,750
I’d say D because its being demanded more of
Answer:
$50,800
Explanation:
Increase in assets = Current Assets * Percentage change in sales = $800,000 * 20% = $160,000
Increase in current liabilities = Current liabilities * Percentage change in sales = $210,000 * 20% = $42,000
Increase in retaned earning = Increased sales*Profit Margin*Retention ratio = $1,000,000*120%*8%*(1-0.30) = $67,200
External financing need = Increase in Assets - Increase in liabilities - Increase in retained earning
External financing need = $160,000 - $42,000 - $67,200
External financing need = $50,800
