Answer:
the discount rate should be 10%
Explanation:
The computation of the discount rate should be given below:
The Amount of discount is is
= $50,000 - $48,750
= $ 1,250
The $1,250 should be for 90 days.
So for 360 days, it should be
= $1,250 × 4
= $5,000.
And, the discount rate is
= $5,000 ÷ 50,000 × 100
= 10%
Hence, the discount rate should be 10%
Answer:
Explanation:
1.Amount to be paid Annually to fell leasing Company = $10,000.
Incremental rate of borrowing = 11%
Lease Period = 5 yrs.
2. Value of lease equipment as on 1st October 2017 i.e., date of lease.
= 10,000 * (PVOA) = (11* for 5 years)
=10,000 * 3.6959 (using -PVAF table)
= $ 36,959
Factors are used according to the table of PVAF
3.Lease liability as on 31-12-2017
= 10,000 * PVAD (11 * 4 years) [since 4 years in these)
= 10,000 * 3.44371
= $ 34,437.10
Lease liability as on 31st Dec 2018
= 10,000 * PVAD (11% 3 years) (still 3 yrs left as on 31-12 -2018)
= 10,000 * 2.71252 = $ 27,125.20
Answer:
A- Gill, a credit customer
Explanation:
A journal entry involves the process of keeping the records of business transactions made by an organization.
Journal entries are mainly used by bookkeepers and accountants. Ideally, it is important that a journal has all of following informations; date, reference number, debit balance, credit balance and transaction description.
A sales ledger can be defined as an accounting book that comprises of the individual account of each customer of a business firm and records the money received for goods or services purchased, whether the payment has been received or not.
Simply stated, a sales ledger sequentially records all sales that have taken place in a business, whether or not payment have been received.
This ultimately implies that, a sales ledger contains accounting information on all sales transaction made by a company including, money received for its goods and services and money owed by its customers.
Hence, the account which will appear in the sales ledger is that of Gill, a credit customer.
Answer:
2.7 times
Explanation:
The computation of the current ratio is shown below:
Current ratio = Current assets ÷ Current liabilities
where,
Current assets = Cash + account receivable + inventory + marketable securities + prepaid expense
= $30,000 + $65,000 + $72,000 + $36,000 + $2,000
= $205,000
And, the current liabilities is
- Account payable + accrued liabilities + short term note payable
= $40,000 + $7,000 + $30,000
= $77,000
So, the current ratio is
= $205,000 ÷ $77,000
= 2.7 times
Answer:
The answer is D.
Explanation:
The demand curve faced by perfectly competitive firm is horizontal. This means that if individual firm charges price above the market price, it will not sell anything.
The curve is the same as marginal revenue curve because change in total revenue from selling one more unit(marginal revenue) is the constant market price.
And it holds in perfect market that price equals marginal revenue (P=MR).
The correct option is D.
