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I am Lyosha [343]
3 years ago
12

Journalize the following transactions of Trapper Jon’s Productions. Assume 360 days in a year.

Business
1 answer:
Sindrei [870]3 years ago
4 0

Answer:

Explanation:

To record note received

On June 23.                                      Debit                          Credit

Notes Receivable                           $48,000                      

Accounts receivable for Radon ExpressCo                          $48,000

interest revenue = $48,000 x 8%x 90/360

To record dishonored note

On September 21st                        Debit                              Credit

Accounts receivable for Radon Co $48,960

Notes Receivable                                                             $48,000

Interest Revenue                                                                   $960                                                                        

Interest Revenue  $48,960 x 10%x 30/360 = $408

Journal to record Cash Received        

     October 21                                             Debit             Credit

Cash                                                   $49,368

Accounts Receivable for Radon Express Co             $48,960

Interest                                                                               $408  

                       

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Answer:

Advertisement.

Explanation:

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6 0
3 years ago
If the firm’s beta is 1.6, the risk-free rate is 9%, and the average return on the market is 13%, what will be the firm’s cost o
Luden [163]

Answer:

CAPM= RF+B(RM-RF)

= 9+1.6(13-9)

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13=RS+1.6*(4)

13=RS+6.4

RS=13-6.4

RS=6.6%

Explanation:

3 0
3 years ago
Smith Company reported pretax book income of $400,000. Included in the computation were favorable temporary differences of $50,0
Hoochie [10]

Answer:

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Explanation:

The computation of the deferred income tax expense or benefit is shown below:

Favorable temporary difference = $50,000

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We assume the tax rate is of 34%

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