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3 years ago

8

Received a $3,000.00 check from Pacific Stores. The check pays $3,061.22 of the Dec. 3 sale on account, S395, less 2% discount.

R403.

1 answer:

Sunny_sXe [5.5K]3 years ago

5 0

Answer:

Accounts Receivable Credit- $3061.22

Sales Discount Debit- $61.22

Cash Debit- $3000

Explanation:

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At a growth (interest) rate of 8 percent annually, how long will it take for a sum to double? To triple? Use Appendix A for an a

Yanka [14]

Answer:

n = ㏒ P ÷ ㏒ (1.08)

Explanation:

Compound interest rate

A = P × $(1 + r)^{n}$

where

P = principal amount (the initial amount you borrow or deposit)

r = annual rate of interest (as a decimal)

A = amount of money accumulated after n years, including interest.

n = number of years

Since we want the principle amount to double i.e., A = 2P

put this in above equation

2P = P × $(1 + r)^{n}$

divide both sides by P, we get

P = $(1 + r)^{n}$

put r = 0.08

P = $(1 + 0.08)^{n}$

P = $(1 .08)^{n}$

Taking log on both sides

㏒ P =㏒ $(1 .08)^{n}$

㏒ P = n ㏒ (1.08)

n = ㏒ P ÷ ㏒ (1.08)

8 0

3 years ago

High-Low Cost Estimation and Profit Planning Comparative 2007 and 2008 income statements for Dakota Products Inc. follow: DAKOTA

Vika [28.1K]

Answer:

(a)

5,500 units

(b)

6,125 units

Explanation:

First, we need to calculate the per unit selling price.

2007 2008

Unit sales 5,000 8,000

Sales revenue $60,000 $96,000

Selling Price $12 $12

Now we need th separate the vairbale and fixed cost from total expense using high low method

Variable cost = ( Higher activity Expense - Lower activity Expense ) / ( Higher activity - Lower activity )

Variable cost = ( $76,000 - $64,000 ) / ( 8,000 units - 5,000 units )

Variable cost = $12,000 / 3,000 units = $4 per unit

Fixed cost = $76,000 - ( $4 x 8,000 units ) = $44,000

Contribution Margin = Selling Price - Variable cost = $12 - $4 = $8

(a)

Breakeven Point = Fixed Cost / Contributin margin per unit

Breakeven Point = $44,000 / $8 = 5,500 units

(b)

Target sales = ( Fixed cost + Desired Profit ) / Contribution margin per unit

Target sales = ( $44,000 + $5,000 ) / $8 = 6,125 units

8 0

3 years ago

The following are the transactions of Spotlighter, Inc., for the month of January:

coldgirl [10]

Answer:

Spotlighter, Inc.

Cash

Account Titles Debit Credit

Beginning balance $0

Notes Payable $4,740

Common stock $5,430

Equipment $1,000

Supplies $1,100

Ending balance $8,070

Notes Payable

Account Titles Debit Credit

Beginning balance $0

Cash $4,740

Equipment 1,600

Ending balance $6,340

Common stock

Account Titles Debit Credit

Beginning balance $0

Cash $5,430

Equipment

Account Titles Debit Credit

Beginning balance $0

Cash $1,000

Notes Payable $1,600

Ending balance $2,600

Supplies

Account Titles Debit Credit

Beginning balance $0

Cash $1,100

Accounts Payable $1,500

Ending balance $2,600

Accounts Payable

Account Titles Debit Credit

Beginning balance $0

Supplies $1,500

Ending Balance $1,500

Explanation:

1) Data and Transaction Analysis:

a. Cash $4,740 Notes Payable $4,740

b. Cash $5,430 Common stock $5,430

c. Equipment $2,600 Cash $1,000 Notes Payable $1,600

d. Supplies $1,100 Cash $1,100

e. Supplies $1,500 Accounts Payable $1,500

6 0

3 years ago

What is a distribution channel?

Ilya [14]

Answer:

Medium of communication

Explanation:

Distribution is one of the four main elements of the marketing mix and its a process of making the predictor services available to the costumers and can be done directory by a producer or service provider that has indirect channels of the distributions

The decision about the distribution are taken by the companies vision and the mission and the goals of the organization that depends in the strategic planning.

5 0

4 years ago

The Hutters filed a joint return for 2019. They provide more than 50% of the support of Carla, Ellie, and Aaron. Carla (age 18)

sergey [27]

Answer:

Hutters can be claim two dependents

Explanation:

we know here that Hutters can be claim two dependents

because here given Carla and Ellie as Aaron meets neither the residency nor citizenship requirement

but Carla is a qualifying relative and is under the age of 24

but Ellie is above 24 but is a qualifying relative as scholarship is non-taxable

so

we can say that answer is two

8 0

3 years ago