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In-s [12.5K]
3 years ago
9

Rhone-Metro Industries manufacturers equipment that is sold or leased.

Business
1 answer:
nikklg [1K]3 years ago
7 0

Answer:

Check the explanation

Explanation:

Show how Rhone-Metro calculated the $104,000 lease payments.

Let X = Amount of each annual payment, excluding executory costs

PV of annual payments: Table 6, 4 payments at 10% = 3.48685 x X

PV of unguaranteed residual value: Table 2, 4 periods at 10% = .68301x $25,000 = $17,075

3.48685X + $17,075 = $365,760

3.48685X = $348,685

X = $348,685

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Metlock Windows manufactures and sells custom storm windows for three-season porches. Metlock also provides installation service
Xelga [282]

Answer:

June 1 2020

No entry

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Dr Cash $1,980

Dr Accounts receivable $300

Cr Sales revenue $1,730

Cr Unearned sales revenue $550

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Cr Inventory $1,140

October 15 2020

Dr Cash $300

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Cr Accounts receivable $300

Cr Service Revenue $550

Explanation:

Preparation of the journal entries for Geraths in 2020

June 1 2020

No entry

September 1, 2020

Dr Cash $1,980

Dr Accounts receivable $300

($1,730+$550+$1,980)

Cr Sales revenue $1,730

($1,980/$2,610*$2,280)

($1,980+$630=$2,610)

Cr Unearned sales revenue $550 ($630/$2,610*$2,280)

September 1, 2020

Dr Cost of goods sold $1,140

Cr Inventory $1,140

October 15 2020

Dr Cash $300

Dr Unearned service revenue $550

Cr Accounts receivable $300

Cr Service Revenue $550

6 0
2 years ago
Which of the following statements is CORRECT?
Lera25 [3.4K]

Answer:

c. The "apparent," but not necessarily the "true," financial position of a company whose sales are seasonal can change dramatically during a given year, depending on the time of year when the financial statements are constructed.

Explanation:

Financial statements are used to show the financial activity of a business within a given period.

One of the principles of a accounting is periodicity. This requires businesses to report their financial position at regular intervals consistently, and not in an inconsistent manner. So if a business reports their finances twice a year. At year end and at mid year, it is possible that at mid year due to seasonal sales performance will be high and business is perceived to be highly profitable.

But financial report at end of year in the off-season will show low performance.

So for seasonal businesses there can be apparent view of a business during the year that can change dramatically because of time at which reports are made.

3 0
3 years ago
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Answer:

processing costs

Explanation:

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7 0
3 years ago
Commercial banks are funded through which of the following?
Artemon [7]
A. Commercial banks lend mi way to consumers in the form of car loans, mortgages and personal loans. The money distributed for these loans comes from deposits of other bank customers.
3 0
2 years ago
Read 2 more answers
Suppose that the price of a money clip increases from $0.75 to $0.90 and quantity supplied rises from 8,000 units to 10,000 unit
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Answer:

The price elasticity of supply is 1.22

Explanation:

Please refer to the attached file

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