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Goshia [24]
2 years ago
5

Journalize the following transactions for Cullumber Company.

Business
1 answer:
Thepotemich [5.8K]2 years ago
3 0

Answer and Explanation:

The journal entries are shown below

On Sept 1

Supplies Dr $1,020

    To Cash $1,020

(being supplies purchased in cash)

On Sept 5

Dividend Dr $410

   To cash $410

(being cash dividend is paid)

On Sept 7

cash Dr 5,500

   To Unearned service revenue  $5,500

(being cash collection is recorded)

On Sept 16

Cash Dr $770

  To Account receivable $770

(being cash collection is recorded)

On Sept 22

Equipment Dr $3,000

         To cash $1,100

         To Note payable $1,900

(being equipment purchased is recorded)

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Some companies want to get their products into as many outlets as possible, understanding that the more exposure a product gets,
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The Short-Line Railroad is considering a $100,000 investment in either of two companies. The cash flows are as follows: Year Ele
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a. 3 years and 3 years

b. either company can be selected

Explanation:

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= Initial investment ÷ Net cash flow

For Electric Co.

In year 0 = $100,000

In year 1 = $70,000

In year 2 = $15,000

In year 3 = $15,000

In year 4 to 10 = $10,000

If we sum the first 3 year cash inflows than it would be $100,000 which is equal to the initial investment

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= $100,000 ÷ $100,000 = 3 years

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For Water Works

In year 0 = $100,000

In year 1 = $15,000

In year 2 = $15,000

In year 3 = $70,000

In year 4 to 10 = $10,000

If we sum the first 3 year cash inflows than it would be $100,000 which is equal to the initial investment

So, the payback period equal to

= $100,000 ÷ $100,000 = 3 years

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8 0
3 years ago
You are planning to make monthly deposits of $70 into a retirement account that pays 12 percent interest compounded monthly. If
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Answer:

FV= $115,928.81

Explanation:

Giving the following information:

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Interest rate= 0.12/12= 0.01

n= 24*12= 288

<u>To calculate the future value, we need to use the following formula:</u>

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6 0
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