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andreyandreev [35.5K]
3 years ago
14

On Feb 10, Amara Inc. sold goods to a customer for $8,000 with credit terms 2/10, n/30. The company uses the net method of accou

nting for sales discounts. What entry would the company make on Mar 10, assuming the correct payment was received on that date?
Business
1 answer:
UNO [17]3 years ago
3 0

Answer:

The answer is given below;

Explanation:

March 10

Bank       Dr.$8,000

Accounts Receivable       Cr.$7,840

Sales Discount (8,000*2%)                 Cr.$160

As the payment was not received within 10 days from the date of sale, therefore 2% discount will be reversed and full payment will be received.

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The Electrocomp Corporation manufactures two electrical products: air conditioners and large fans. The assembly process for each
zzz [600]

Answer:

40 air conditioner and 60 fans yield a 1,900 dollar profit

Explanation:

Maximize: 26x_1+15x_2\\$Subject to:\\3x_1+ 2x_2 =240\\2x_1+x_2 =120

We apply this constrain on excel solver tool.

                     Wiring  Drilling    Profit per unit   Total Profit

AC  40 units 120  80            25                  1000

Fan 60 units 120  60            15                  <u> 900 </u>

  240        140  1900                 1,900

8 0
3 years ago
Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 21 years Coupon rate: 9 percent Se
kifflom [539]

Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 21 years Coupon rate: 9 percent Semiannual payments Calculate the price of this bond if the YTM is  6% (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.):

Answer:

Price of bond = $982.63

Explanation:

<em>The value of the bond is the present value (PV) of the future cash receipts expected from the bond. The value is equal to present values of interest payment plus the redemption value (RV). </em>

Value of Bond = PV of interest + PV of RV

The value of bond for Microhard can be worked out as follows:

Step 1  

PV of interest payments

Semi annul interest payment  

= 9% × 1000 × 1/2 = 45

Semi-annual yield = 6%/2 = 3 % per six months

Total period to maturity (in months)

= (2 × 21) = 42 periods

PV of interest =  

45 × (1- (1+0.03)^(-21)/0.03)= 693.6

Step 2  

PV of Redemption Value

= 1000 × (1.03)^(-21×2) =288.95

Price of bond

= 693.6 + 288.95 =982.63

Price of bond = $982.63

4 0
3 years ago
The parenting style which takes the concerns of all family members into account when making decisions is __________. permissive
seraphim [82]
The answer is DEMOCRATIC.   :)
4 0
3 years ago
A company received a bank statement showing a balance of $78,000. Reconciling items included outstanding checks of $2,400 and a
Kisachek [45]

Answer:

Adjusted Bank Balance = $85,000

Explanation:

Adjustment of bank balance is a bank reconciliation procedure, that is used to match the amount in the bank statement with the amount in the company's balance sheet.

To adjust the bank balance, particulars that need to be subtracted or added to the bank statement balance has to be identified and treated accordingly.

For this example, the adjusted balance is calculated thus:

Adjusted bank balance = (Bank statement balance) - (outstanding checks) +(deposit in transit)

Adjusted Bank Balance = 78,000 - 2,400 + 9,400 = $85,000

Note:

outstanding checks are subtracted because they are payments to be made made by the company, representing a liability to the company (payer)

deposit in transit is an income to the company that has not been credited yet, but that will be credited.

3 0
3 years ago
WILL MAKE BRAINLIEST!!PLS HELP<br><br><br> Does the holland code use career clusters?
horsena [70]
I believe this is true. 

Hope this helps!
4 0
3 years ago
Read 2 more answers
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