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JulsSmile [24]
3 years ago
7

During Year 1, Hardy Merchandising Company purchased $20,000 of inventory on account. Hardy sold inventory on account that cost

$15,000 for $22,500. Cash payments on accounts payable were $12,500. There was $20,000 cash collected from accounts receivable. Hardy also paid $4,000 cash for operating expenses. Assume that Hardy started the accounting period with $18,000 in both cash and common stock.
Required:
a. Record the events in a horizontal statement model.
b. What is the balance of accounts recelvable at the end of 2018?
c. What is the balance of accounts payable at the end of 2018?
d. What are the amounts of gross margin and net income for 2018?
Business
1 answer:
mel-nik [20]3 years ago
3 0

Answer:

[b] = $ 2500

[c] = $ 7500

[d] =  Gross margin = 22500 – 15000 = $ 7500

   Net Income = 7500 – 4000 = $ 3500

[e] = $ 3500

Explanation:

Here the solution is given as follows,

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You buy an 8-year $1,000 par value bond today that has a 6% yield and a 6% annual payment coupon. In 1 year promised yields have
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Answer:

A. 0.61%

Explanation:

Calculation for what your 1-year holding-period return

Based on the information given the $1,000 par value bond will be the price for the year and we should also take note that YTM also equals the coupon rate.

We are going to use calculator to find what the following year's price will be

N = 7

I/Y = 7

PMT = 60 (60%×$1,000)

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Last step is to calculate for what your 1-year holding-period return

Holding-period return = $1,006.11/$1,000 - 1

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Therefore your 1-year holding-period return was 0.61%

4 0
4 years ago
Each of the following are types of__________allocation methods:
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Each of the following are types of Overheads allocation methods.

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The common methods for allocating overheads are plant-wide rate method, departmental overhead rate method and activity-based costing method.

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hope it helps:)

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An equation showing the relationship among assets, liabilities, and owner’s equity.
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A resource having economic worth that a person, business, or nation possesses or controls with the hope that it would someday be useful is referred to as an asset. The balance sheet of a business lists assets. They are divided into four categories: tangible, financial, fixed, and current.

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