Answer:
D. Debit to COGS for $93,000
Explanation:
The following two journal entries are to be recorded in the accounts on the sale of inventory.
Debit Credit
Revenue $111,000
Accounts receivable $111,000
Cost of Goods sold $93,000
Inventory $93,000
So based on the above discussion, the answer is D. Debit to COGS for $93,000
Answer:
C) Operating, $12,000; financing $6,000.
Explanation:
Interests expenses do no change the notes payable or bond, but results in the reduction of the cash flow of a company. Therefore, the interests paid on both short terms notes payable and interest on long-term bonds will appear under the operating activities section of the cash flow statement.
Dividend appears under the financing activities section of the cash flow statement.
For this question, we therefore have:
Cash outflows from operating activities = Interest on short-term notes payable + Interest on long-term bonds = $2,000 + $10,000 = $12,000
Cash outflows from financing activities = Dividends on common stock = $6,000
Therefore, the correct option is C) Operating, $12,000; financing $6,000.
Answer:
I guess c or d not sure about it.
Answer:
Total cash collections in February are $133600
Explanation:
The collections in the month of February will include 20% of sales made in February in account for cash sales.
Cash sales = 140000 * 0.2 = $28000
Thus, Credit sales for February are = 140000 - 28000 = $112000
Out of these credit sales made in February, 60% will be collected in February. Thus, credit sales made in February that will be collected in February are,
February collections from February credit sales = 112000 * 0.6 = $67200
Total cash collections in February from February sales = 67200 + 28000
Total cash collections in February from February sales = $95200
In addition, out of the credit sales made in January, 40% will be collected in February.
Collection from January sales in February = 120000 * 0.8 * 0.4 = $38400
Total collections in February = 38400 + 95200 = $133600
Answer:
cartel - an agreement by a formal organization of producers to coordinate prices and production
Explanation:
Who are the OPEC plus countries?
Currently, the Organization comprises 15 Member Countries – namely Algeria, Angola, Congo, Ecuador, Equatorial Guinea, Gabon, IR Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela.
Member: Iran, Iraq, Ecuador
Place founded: Baghdad
