Explanation:
The journal entries are as follows
a.
Merchandise Inventory A/c $254,500
To Accounts payable A/c $254,500
(Being merchandise purchased on credit)
b.
Account payable Dr $30,000
To Merchandise inventory $30,000
(Being the merchandise returned is recorded)
c.
Account payable Dr $224,500 ($254,500 - $30,000)
To Cash $224,500
(Being the payment of the invoice is recorded)
Answer:
Monthly payment = $769.27
Explanation:
First we have to determine the future value of the ordinary annuity:
Payment = $235.15
N = 20 * 12 = 240
Rate = 3.2% / 12 = 0.267%
Using a financial calculator and the FV function, the FV = $78,910.41
Again, using the financial calculator or Excel, you can determine the monthly payment:
N = 10 / 12 = 120
Rate = 0.267%
PV = $78,910.41
FV = $0
Monthly payment = $769.27
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In 2016, Bubble Inc. had net income of $500,000, assets of $5,000,000, sales of $2,000,000, and debt of 2,000,000. In 2017, Bubb
victus00 [196]
Answer:
No
Explanation:
The computation of the return of assets is calculated by applying the formula which is shown below:
Return on assets = Net income ÷ assets
In 2016, the return on assets would be equal to
= $500,000 ÷ $5,000,000
= 0.1
In 2017, the return on assets would be equal to
= $600,000 ÷ $7,000,000
= 0.085
By comparing the return on assets for both the years, we get to know that the return on assets is declining from 2016 to 2017
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.
Loan= 186000
i= 15%
n= 6 years
First pay:
i=186000*0,15=27900
amortization= 49148-27900=21248
Second pay:
i=(186000-21248)*0,15=24712
amort=49148-24712=24436
Third pay:
i=(164752-24436)*0,15=21048
amort=49148-21048=28100
While payments progress, interest decreases and amortization increases.
