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3 years ago

Compare the sources of consumer credit travel and entertainment credit revolving check credit closed-end credit

Business

1 answer:

lapo4ka [179]3 years ago

6 0

Answer:

The source of consumer credit is credit obtained on services like banking, insurance and travel.

Explanation:

Source of consumer credit are savings, credit union, sales , life insurance and loans etc. Entertainment credit is a state provided naturla pension credit union its controlled by the members. Is a loan or a form of credit, where the fund is dispersed in full when the loan is closed and must be given back.

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Ingram Electric Products is considering a project that has the following cash flow and WACC data. What is the project's MIRR? No

SpyIntel [72]

Answer:

the project's MIRR is 13.50 %.

Explanation:

MODIFIED INTERNAL RATE OF RETURN (MIRR)

-It is the rate that causes the Present Value of the Terminal Value (Future Cash flows at the end of the Project) to equal Present Value of Cash outflows.

-MIRR assumes a reinvestment rate at the end of the project

The First Step is to Calculate the Terminal Value at end of year 3.

Terminal Value (FV) = Sum of (PV x (1 + r) ^ 3 - n)

= $350 x (1.11) ^ 2 + $350 x (1.11) ^ 1 + $350 x (1.11) ^ 0

= $431.24 + $388.50 + $350.00

= $1,169.74

The Next Step is to Calculate the MIRR using a Financial Calculator :

(-$800) CFj

0 CFj

$1,169.74 CFj

Shift IRR/Yr 113.50 %

Therefore, the MIRR is 13.50 %

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3 years ago

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The Jabba Corporation manufactures the "Snack Buster" which consists of a wooden snack chip bowl with an attached porcelain dip

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Explanation:

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4 years ago

Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $10.

Crank

Answer:

Vanishing Games Corporation (VGC)

1. Analysis of the effect of transactions on the accounting equation:

Assets = Liabilities + Equity

Assets (Cash) increases +$52,500 and Assets (Accounts Receivable) decreases -$52,500 = Liabilities + Equity.

b. Assets (Cash) increases +$235,000 = Liabilities + Equity (Retained Earnings) increase + $235,000.

c. Assets (Equipment) increases +41,900; Cash decreases -$12,000 = Liabilities (Notes Payable) increase +$29,900 + Equity.

d. Assets (Cash) decreases -$15,600 = Liabilities + Equity (Retained Earnings) decrease - $15,600.

e. Assets (Cash) increases + $50,500 and (Accounts Receivable) increases + $50,500 = Liabilities + Equity (Retained Earnings) increase + $101,000.

f. Assets = Liabilities (Accounts Payable) increase +$5,900 + Equity (Retained Earnings) decrease -$5,900.

g. Assets (Cash) decreases - $310,000 = Liabilities + Equity (Retained Earnings) decreases - $310,000.

h. Assets (Supplies) increase + $5,100 = Liabilities (Accounts Payable) increase +$5,100 + Equity.

i. Assets (Cash) decreases - $5,100 = Liabilities (Accounts Payable) decrease - $5,100 + Equity.

2. Journal Entries:

a. Debit Cash Account $52,500

Credit Accounts Receivable $52,500

To record cash from customers.

b. Debit Cash Account $235,000

Credit Service Revenue $235,000

To record cash for service revenue.

c. Debit Equipment $41,900

Credit Cash Account $12,000

Credit Notes Payable $29,900

To record purchase of 10 new computer services

d. Debit Advertising Expense $15,600

Credit Cash Account $15,600

To record payment for advertising.

e. Debit Cash Account $50,500

Debit Accounts Receivable $50,500

Credit Service Revenue $101,000

To record subscriptions for services sold.

f. Debit Utilities Expense $5,900

Credit Utilities Payable $5,900

To record utilities expense.

g. Debit Wages & Salaries Expense $310,000

Credit Cash Account $310,000

To record wages paid.

h. Debit Supplies Account $5,100

Credit Accounts Payable $5,100

To record purchase of supplies on account.

i. Debit Accounts Payable $5,100

Credit Cash Account $5,100

To record payment on account.

3. T-Accounts:

Cash Account

Beginning Balance $2,360,000 c. Equipment 12,000

a. Accounts Receivable 52,250 d. Advertising Expense 15,600

b. Electronic Arts, Inc. 235,000 g. Wages & Salaries 310,000

e. Service Revenue 50,500 i. Accounts Payable 5,100

Balance c/d 2,355,050

2,697,750 2,697,750

Balance b/d 2,355,050

Accounts Receivable

Beginning Balance 152,000 a. Cash 52,250

e. Service Revenue 50,500 Balance c/d 150,250

202,500 202,500

Balance b/d 150,250

Supplies

Beginning Balance 19,100 Balance c/d 24,200

Accounts Payable 5,100

24,200 24,200

Balance b/d 24,200

Equipment

Beginning Balance 948,000 Balance c/d 989,900

c. Cash 12,000

c. Notes Payable 29,900

989,900 989,900

Balance b/d 989,900

Land

Beginning Balance 1,920,000

Building

Beginning Balance 506,000

Accounts Payable

i. Cash 5,100 Beginning Balance 109,000

Balance c/d 109,000 h. Supplies 5,100

114,100 114,100

Balance b/d 109,000

Unearned Revenue

Beginning Balance 152,000

Advertising Expense

d. Cash 15,600

Utilities Expense

f. Utilities Payable 5,900

Utilities Payable

f. Utilities Expense 5,900

Wages & Salaries Expense

g. Cash 310,000

Service Revenue

b. Cash 235,000

Balance c/d 336,000 e. Cash 50,500

e. Accounts Receivable 50,500

336,000 336,000

Balance b/d 336,000

Notes Payable (due 2018)

Balance c/d 109,900 Beginning Balance 80,000

c. Equipment 29,900

109,900 109,900

Balance b/d 101,000

Common Stock

Beginning Balance 2,200,000

Retained Earnings

Beginning Balance 3,364,100

4. Trial Balance as at January 31:

Debit Credit

Cash $2,355,050

Accounts Receivable 150,250

Supplies 24,200

Equipment 989,900

Land 1,920,000

Building 506,000

Advertising expense 15,600

Utilities Expense 5,900

Utilities Payable $5,900

Wages & Salaries 310,000

Service Revenue 336,000

Notes Payable 109,900

Accounts Payable 109,000

Unearned Revenue 152,000

Common Stock 2,200,000

Retained Earnings 3,364,100

Total $6,276,900 $6,276,900

Explanation:

a) Note: the adjustment of the Utilities could have been eliminated to produce the same result, with totals reduced by $5,900.

5 0

3 years ago