Answer:
$26,000
Explanation:
Joy Elle’s Vegetable Market
Cash flow from Financing Activities
Issuance of Stock $50,000
Less: Repaid Note payable $22,000
Less: Paid Dividend <u>$2,000</u>
Net Cash provided by financial activities <u>$26,000</u>
-Acquired land by issuing common stock is a Non cash investing and financing activities under cash flow
-Sold a long-term investment for cash is an investing activities under cash flow
-Acquired an investment in IBM stock for cash is an Investing activities under Cash flow
Answer:
13%
Explanation:
To solve for the IRR we first need the formula
where NPV is the net present value, 
is the cash flow in period t, and r is the IRR (internal rate of return)
Solving this polynomial can be quite cumbersome. Thankfully excel has a built in function that we can take advantage of call IRR
As shown in the screen shot we write the cash flow, with the first one with the negative sign. Then we call the IRR function selecting the cells with our Cash Flow values and excel will return the IRR. In this case is 13%
Answer:
Explanation:
The journal entries are shown below:
a) April 1, 2012;
Dr Cash A/C. $290,000
Dr finance charge $10,000
Cr payable $300,000
($500,000 × 2% = $10,000)
b)
Dr Cash A/c $350,000
Cr Account receivable $350,000
c)
Dr payable $300,000
Dr interest expense $7,500
Cr Cash $307,500
(10% × $300,000 × 3/12 = $7,500)
Answer
True
Explanation
Written contracts are binding, oral agreements are not
C refusing to share information
