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Arada [10]
3 years ago
11

Journalize transactions and follow through accounting cycle to preparation of financial statements.

Business
1 answer:
MrRa [10]3 years ago
8 0

Answer:

Salaries expense DR. $1220

Cash Cr. $1220

Cash Dr. $1860

Account receivable Cr. $1860

Cash Dr. $3810

Account receivable Cr. $3810

Purchases Dr. $3900

Cash Cr. $3900

Explanation:

Accounts payable Dr. 2600

Cash Cr. $2600

Rent expense Dr. $450

Cash Cr. $450

Account receivable Dr. $980

Services Cr. 980

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The Mary Company primarily sells dishes, and recently purchased a cardboard box company. Mary's new cardboard box division has n
fgiga [73]

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Explanation:

Based on the information given in the question, we are informed that the variable cost of each box is $1.50 and usually has a contribution margin of $0.80 per box.

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8 0
3 years ago
On January 1, 2018, Allgood Company purchased equipment and signed a six-year mortgagenote for $186,000 at 15%. The note will be
Ne4ueva [31]

Answer:

The correct answer is A: interest= $21048

Explanation:

An amortization schedule is a complete table of periodic loan payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term. While each periodic payment is the same amount early in the schedule, the majority of each payment is interest; later in the schedule, the majority of each payment covers the loan's principal.

Each payment is the same ($49,148), but the proportions of interest and capital pay changes. The interest proportion decreases from pay to pay.

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i= 15%

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First pay:

i=186000*0,15=27900

amortization= 49148-27900=21248

Second pay:

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Third pay:

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While payments progress, interest decreases and amortization increases.

5 0
3 years ago
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