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3 years ago

8

As we move toward a cashless society, which of the following will become vital for businesses that meet clients away from the of

fice?
abacus
calculator
POS card reader
cash registers

1 answer:

leonid [27]3 years ago

7 0

Answer:

POS card reader

Explanation:

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Lewis Company had the following transactions involving notes payable.

Fiesta28 [93]

Answer and Explanation:

The journal entries are shown below

1. Cash Dr $50,500

To Note payable $50,500

(Being the amount borrowed is recorded)

2. Cash Dr $61,200

To Note payable $61,200

(Being the amount borrowed is recorded)

3. Interest expense $2,020

To Interest payable $2,020

(Being the interest expense is recorded)

The computation is shown below:

= $50,500 × 8% × 6 months ÷ 12 months

= $2,020

4. Interest expense $612

To Interest payable $612

(Being the interest expense is recorded)

The computation is shown below:

= $61,200 × 6% × 2 months ÷ 12 months

= $612

5. Note payable $61,200

Interest expense $306

Interest payable $612

To Cash $62,118 ($61,200 + $918)

(Being the principal and the interest is recorded)

= $61,200 × 6% × 3 months ÷ 12 months

= $2,020

5. Note payable $50,500

Interest expense $1,010

Interest payable $2,020

To Cash $62,118 ($50,500 + $3,030)

(Being the principal and the interest is recorded)

= $50,500 × 8% × 9 months ÷ 12 months

= $3,030

8 0

3 years ago

lina2011 [118]

Answer:

See explanation

Explanation:

Some of the advantages and conveniences of buying internationally are as follows:

1. Revenues are expanding;

2. Competition among firms will be decreasing;

3. Diversifying the risk management;

4. Getting the chance to specialize (1);

The difference between buying a shirt made in Canada, but find the same one made in China is the availability of raw materials. The same raw materials can be found in various countries with the help of international trade. Transportation makes the difference either. The final difference is where you are staying. If you stay in Canada, you might get the Canadian shirt cheaper than the Chinese one. Again, if you stay in China, you might find the cheaper price in China. If you do not stay in both of the countries, it will be difficult to assume.

References:

1. Martinuzzi, B. (2018). What Are the Advantages of International Trade? Retrieved from https://www.americanexpress.com/en-us/business/trends-and-insights/articles/advantages-international-trade/

2. Herrera, S. (2018). International e-commerce: Advantages and disadvantages of marketplaces. Retrieved from https://www.handelskraft.com/2018/09/international-e-commerce-advantages-and-disadvantages-of-marketplaces-5-reading-tips/

5 0

4 years ago

Peeples, Inc., has a book value of equity of $13,500. Long-term debt is $7,700. Net working capital, other than cash, is $1,990.

Reil [10]

Answer:

hope you like my answer

Explanation:

6 0

3 years ago

Navajo Corporation traded a used truck (cost $20,000, accumulated depreciation $18,000) for a small computer with a fair value o

UNO [17]

Answer:

Dr Computer $3,300

Dr Accumulated depreciation-Truck $18,000

Cr Truck - Fixed Asset $20,000

Cr Gain on disposal of truck (Balancing Figure) $800

Cr Cash Account $500

Explanation:

The disposal of a Fixed asset is a three step procedure and is given as under:

Remove the Accumulated depreciation and the cost of the fixed asset
Record the receipt of the consideration at Fair Value
Record the payment or receipt of the cash

Always remember that the balancing figure will go to Profit and loss statement.

<u>Step1: Remove the Accumulated depreciation and the cost of the fixed asset</u>

The asset value and the accumulated depreciation would be removed from the books of accounts and the balance figure would be transfered to profit and loss account.

Dr Accumulated Depreciation $18,000

Dr Profit & Loss Account $2,000

Cr Truck - Fixed Asset $20,000

<u></u>

<u>Step2: Record the receipt of the consideration at Fair Value</u>

Dr Computer - Fixed Asset $3,300

Cr Profit and Loss Account $3,300

<u>Step3: Record the payment or receipt of the cash</u>

The receipt of the payment will treated as:

Dr Profit and loss Account $500

Cr Cash Account $500

The aggregate Effect if I summarizee would be:

Dr Computer $3,300

Dr Accumulated depreciation-Truck $18,000

Cr Truck - Fixed Asset $20,000

Cr Gain on disposal of truck (Balancing Figure) $800

Cr Cash Account $500

8 0

3 years ago

A firm is considering a project with annual cash flows of $300,000. The project would have a five-year life, and the company use

stealth61 [152]

Answer:

$1,081,434

Explanation:

<em>At indifference point, the present value of cash outflow equals present value of cash inflow.</em>

Present value of cash inflow = Annual cash inflow * PV annuity factor (12%, 5 years)

Present value of cash inflow = $300,000*3.60478

Present value of cash inflow = $1,081,434

So, the amount at which the firm would be indifferent between accepting or rejecting the investment is $1,081,434.

7 0

3 years ago