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3 years ago

Journalize the following merchandise transactions. The company uses the perpetual inventory system.

Business

1 answer:

aliya0001 [1]3 years ago

5 0

Answer:

Accounts Receivable $17,300 (debit)

Cost of Goods Sold $12,600 (debit)

Sales Revenue $17,300 (credit)

Inventory $12,600 (credit)

Cash $15,916 (debit)

Accounts Receivable $15,916 (credit)

Explanation:

The Perpetual Inventory system records the cost of inventory after every sale.

a. Sale of Sold merchandise on account

Recognize the Revenue and Cost of Sale as follows :

Accounts Receivable $17,300 (debit)

Sales Revenue $17,300 (credit)

Cost of Sales $12,600 (debit)

Merchandise $12,600 (credit)

b.Received payment within the discount period

Recognize the Cash receipts to the extend of amount paid less cash discount of 2%

Cash $15,916 (debit)

Accounts Receivable $15,916 (credit)

Cash Receipt = $17,300 × 92% = $15,916

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Claire purchases an eight-year callable bond with a 10% annual coupon rate payable semiannually. The bond has a face value of 3,

Liula [17]

Answer:

12.41%

Explanation:

yield to call = {coupon + [(call value - market value)/n]} / [(call value - market value)/2]

0.05 = {150 + [(2,900 - market value)/8]} / [(2,900 - market value)/2]

0.05 x [(2,900 - market value)/2] = 150 + [(2,900 - market value)/8]

0.05 x (1,450 + 0.5MV) = 150 + 362.5 - 0.125MV

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0.15MV = 440

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Claire's total returns = $150 (coupon) + ($2,960 - $2,933.33) = $176.67

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effective annual yield = (1 + 6.02273%)² - 1 = 12.41%

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3 years ago

Derst Inc. sells a particular textbook for $39. Variable expenses are $28 per book. At the current volume of 49,000 books sold p

Liono4ka [1.6K]

Answer:Annual fixed expenses = $ 539,000

Explanation:

Given;

break even point on books sold= $49,000

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49,000 =Fixed cost / ( 39-28)

Fixed cost = 49,000 x 11

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3 years ago

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Answer:

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If a fiscal policy change is going to exert a stabilizing impact on the economy, it must?

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To know more about fiscal policy here:

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1 year ago

______________ are enacted when discontented sellers, feeling that prices are too low,appeal to legislators to keep prices from

TEA [102]

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