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ASHA 777 [7]
2 years ago
15

On August 2, Jun Co. receives a $7,000, 90-day, 11.5% note from customer Ryan Albany as payment on his $7,000 account. Prepare J

un's journal entry assuming the note is honored by the customer on October 31 of that same year. (Round your answers to nearest whole dollar value. Use 360 days a year.)
Business
1 answer:
Likurg_2 [28]2 years ago
3 0

Answer:

Oct 31

Dr Cash $7,201

Cr Notes receivable—R. Albany $7,000

Cr Interest revenue $201

Explanation:

Preparation of Jun's journal entry assuming the note is honored by the customer on October 31, of that same year

Oct 31

Dr Cash $7,201

($7,000+$201)

Cr Notes receivable—R. Albany $7,000

Cr Interest revenue $201

(11.5%*7,000*90/360)

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This year, Callie and Neil formed the equally owned CN partnership. Callie contributed $300,000 of cash and Neil contributed rea
Nitella [24]

Answer:

1. a. Callie =$375,000

b. Neil $25,000

2. Equal

Explanation:

The computation of given question is shown below:-

1. Adjusted Callie contribution = $300,000

Neil contribution = $100,000 × 50%

= $75,000

Callie basis in partnership interest after the formation = $300,000 + $75,000

= $375,000

Adjusted Neil contribution = $100,000

Neil contribution = $100,000 × 50%

= $75,000

Neil basis in partnership interest after the formation = $375,000 - $75,000

= $25,000

2. Equal or in Profit-Loss Sharing Ratio

In the profit - loss sharing ratio or equal when debt is allocated between the two partners

6 0
3 years ago
A firm has a profit margin of 6% and an equity multiplier of 1.5. Its sales are $230 million, and it has total assets of $115 mi
Ket [755]

Answer:

18%

Explanation:

In this question, we use the DuPont Analysis which is shown below:

ROE = Profit margin × Total assets turnover × Equity multiplier

ROE = 6% × 2 × 1.5

        = 18%

The total assets turnover is shown below:

= Sales ÷ total assets

= $230 million ÷ $115 million

= 2

Simply we apply the ROE formula in which the profit margin is multiplied with the total assets turnover and the equity multiplier

7 0
2 years ago
. "Place" decisions: A. may focus on the location of retail stores and wholesale facilities. B. may focus on the selection and u
beks73 [17]

Answer:

E

Explanation:

All of these choices are correct.

Place refers to the channels of distribution either through distribution/market channels and physical distribution. It is a vital part of the total marketing mix, it ensures that products are available to the appropriate markets, at the right proportion or quantity, at the best condition, appropriate time, anytime and at all times.

5 0
2 years ago
Please help!
sineoko [7]

Answer:

critical thinking

judgment and decision making

reading comprehension

operation and control

5 0
2 years ago
Read 2 more answers
Your manager specifically wants you to send a letter advertising your upcoming sale of 20% off all regularly priced items in sto
Citrus2011 [14]

Answer:

A private discount offer Just for You

20% special discount for you on all the regular priced items in the store on

April 12th and 13th.

Save the date and don't miss this special offer.

Explanation:

Special discounts are offered to the customers who are loyal or regularly shop. These offer force the customers to visit the shop again. The satisfaction of the customers matters the most. If the customer is satisfied with the customer service and products then he will shop again definitely. Adverting letters should be send to all vip customers when there are special discount offers from the shop.

4 0
3 years ago
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