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andrew-mc [135]
3 years ago
9

Sheridan Company receives a $14000, 3-month, 8% promissory note from Carla Vista Company in settlement of an open accounts recei

vable. What entry will Sheridan Company make upon receiving the note?
Business
1 answer:
Pie3 years ago
3 0

Answer and Explanation:

The journal entry to record while receiving the note is shown below:

Notes receivable  Dr. $14,000

          To Accounts receivable $14,000

(Being receiving of the note is recorded)

Here the note receivable is debited as it increased the assets and credited the account receivable as it decreased the assets

The same is to be considered

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LenaWriter [7]

Answer:

Answer is explained in the attachment.

Explanation:

Download pdf
3 0
4 years ago
carmelita Inc., has the following information available: Costs from Beginning Inventory Costs from Current Period Direct materia
erica [24]

Answer:i dont answer

Explanation:alot of sbhbb b cn n ncn nc nccnx n c zcx nzv zxcv zcv cvzcv zxcbzv CVzxv z xcvzxcv xczv zcvzxcv zxcvzxcv zxcv xzcv zxcvzxcv zcvz cvxcvzxcv zcvxzcv zxvczxcv zx v v v v v zxc v zxcv zc xv zxcv zxcvzxcv zxc zxcv zcv zxcvz xv zxv xc vxcnvcnxv xz v nvn cx cx c xc xc x xvn.

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6 0
3 years ago
Marvin Corporation has the following information reported on the balance sheet as of December 31, 2017 Common Stock, $10 par val
SCORPION-xisa [38]

Answer:

  • How many shares of common stock are outstanding?

C. 3,000

Explanation:

Treasury stock, are those that the company repurchase from the market and keep it in the company, in this case the company keep the shares in the accounting and the shares could be reissued in the future.

The company issued 9,000 shares, it is reflected in the Common Stock account,  $90.000 / $10 = 9,000.

Then in the Treasury Stock account are registered the shares that the company repurchases from the market, these are, 6,000 shares.

Finally the total Common Shares outstanding are 3,000.

3 0
3 years ago
2) A firm sells two products. Product R sells for $20; its variable cost is $6. Product S sells for $50; its variable cost is $3
Tom [10]

Answer:

$6896551.7

Explanation:

Given the following :

Product R:

Selling price = $20

Variable cost = $6

Product S:

Selling price = $50

Variable cost = $30

Firm's fixed cost = $4, 000,000

Break-even point dollars = (Fixed cost /Contribution margin ratio)

Contribution margin : selling price - variable cost

Product R: $(20 - 6) = $14

Contribution margin ratio = ($14/$20) * 60% = 0.42

Product S: $(50 - 30) = $20

Contribution margin ratio = ($20/$50) * 40% = 0.16

Sum of contribution margin ratio for both products = (0.42 + 0.16) = 0.58

Break-even point dollars = (Fixed cost /sum of Contribution margin ratio)

= $4,000,000/0.58

= $6896551.7

3 0
4 years ago
You want to purchase a new motorcycle that costs $29,800. The most you can pay each month is $510 over the life of the 78-month
TiliK225 [7]

Answer:20,5369%

Explanation:We know APR is the Annual Percentage Rate that is paid over a loan. If we are to pay during 78 months at most $510 each month, then we could pay in total 510*78=$39780 in the course of the six years and a half that constitute the 78 months. This means that yearly we can pay in interest $39780/6,5=$6120 each year, this represents the interest over the loaned money, i.e., the $29800. Then the APR is

\\\frac{6120}{29800} =20,5369\% annualy or 1,71141% monthly and it is the highest APR you could afford, 20.5369%

4 0
3 years ago
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