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astra-53 [7]
3 years ago
5

Garcia Corporation purchased a truck by issuing an $80,000, 4-year, zero-interest-bearing note to Equinox Inc. The market rate o

f interest for obligations of this nature is 10%. Prepare the journal entry to record the purchase of this truck
Business
1 answer:
Yuliya22 [10]3 years ago
3 0

Answer: See explanation

Explanation:

The journal entry to record the purchase of the truck will be:

Dr Trucks $54641

Dr Discount on Notes Payable $25359

Cr Notes Payable $80000

Note:

Face value of Note = $80000

× PV factor = 1/1.10⁴ = 0.68301

Present value of Face value of Note = $54641

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Earleton Manufacturing Company has $2 billion in sales and $600,000,000 in fixed assets. Currently, the company's fixed assets a
bearhunter [10]

Answer:

The correct answer is $2,500,000,000.

Explanation:

According to the scenario, the computation of the given data are as follows:

Operating capacity = 80%

Sales = $2 billion

Fixed assets = $600,000,000

So, we can calculate the level of sales by using following formula:

Level of sales = Sales ÷ operating capacity

= $2,000,000,000 ÷ 80%

= $2,500,000,000

7 0
3 years ago
Which of the following is the first step in Kotter's eight-step plan for implementing change?A) Create a new vision to direct th
forsale [732]

Answer:

The correct answer is letter "B": Establish a sense of urgency by creating a compelling reason for why change is needed.

Explanation:

American educator John Kotter (born in 1947) in his book "<em>Leading Change</em>" (2011) proposed an eight-step method to generate change within an organization. The first of them is to Create Urgency, where potential risks are identified, and scenarios that illustrate what might happen in the future are created. Also, honest discussions are carried out to offer diverse and compelling reasons of why the change is needed.

4 0
2 years ago
Firms use various methods for identifying customers such as​ ________ and​ ________.
Rashid [163]

Answer:

The correct answer to the following question is option A) .

Explanation:

One way in which firms identify customer is through observational characteristics which can be age, by knowing the average of their target customers , a firm can know whether their target customers would be willing to wait in long lines or not for getting the firms product. As if their target customers mainly consists of old age then those customer won't be willing to wait in long lines to get the product.

3 0
3 years ago
The marketing team of a regional airline company plans to launch a new marketing campaign to draw more customers to its flights.
MrMuchimi

Explanation:

<em><u>1</u></em><em><u>.</u></em><em><u> </u></em><em><u>advertising</u></em><em><u> </u></em>

<em><u>2</u></em><em><u>.</u></em><em><u> </u></em><em><u>distribution</u></em><em><u> </u></em>

<em><u>3</u></em><em><u>.</u></em><em><u> </u></em><em><u>well</u></em><em><u> </u></em><em><u>crafted</u></em>

4 0
2 years ago
Phionia Phelps has developed a gourmet cat food. Not only is this food eagerly eaten by the most finicky felines, but it is spec
pickupchik [31]

Answer:

Explanation:

a.

Sales budget = $ 250 per case * 100 cases per batch * 6 batches per day * 20 days a month * 6 months

= $ 18,000,000

b. Production budget in units = 100 cases per batch * 6 batches per day * 20 days a month * 6 months

= 72,000 cases

Production budget including 10 percent inventories

= 72000 + 100*6*20*10%

= 73200 cases

c. Direct materials purchases budget in pounds including 5% inventories

Lamb = 5 pounds per case * (73200 cases + 100*6*20*5% cases )

= 369,000 pounds

Rice Lamb = 10 pounds per case * (73200 cases + 100*6*20*5% cases )

= 738,000 pounds

Salmon = 2 pounds per case * (73200 cases + 100*6*20*5% cases )

= 147,600 pounds

Vitamins = 1 pound per case * (73200 cases + 100*6*20*5% cases )

= 73,800 pounds

d. Direct materials purchases budget in dollars = 369000*15 + 738000*1.2 + 147600*24 + 73800*45

= $ 1,328,400

e. Manufacturing labor budget in dollars = 1 hours per batch * 6 batches per day * 20 days per month * 6 months * ($ 18 per hour for ingredient preparation + $ 24 per hour for cooking and canning ) * 2 workers

= $ 60,480

2. The business requires an investment of $ 1,328,400 + 60,480

= $ 1,388,880 over six months.

This translates to monthly investment of $ 231,480

Therefore $ 50,000 investment is too small to begin with.

8 0
3 years ago
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