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Montano1993 [528]
3 years ago
6

Hayden Company expects its November sales to be 20% higher than its October sales of $160,000. All sales are on credit and are c

ollected as follows: 30% in the month of the sale and 65% in the following month. Purchases were $60,000 in October and are expected to be $120,000 in November. Purchases are paid 40% in the month of purchase and 60% in the following month. The cash balance on November 1 is $13,400. The cash balance on November 30 will be:_____
a. $175,000
b. $77,600
c. $64,200
d. $91,000
Business
1 answer:
8_murik_8 [283]3 years ago
4 0
The awnser is a choose a
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Larned Corporation recorded the following transactions for the just completed month.
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Answer:

1. Dr Raw materials $80,000

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Explanation:

Preparation of Journal entries

1. Based on the information given we were told that the amount of$80,000 in raw materials were been purchased on account which means that the Journal entry will be :

Dr Raw materials $80,000

Cr Account payable $80,000

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2. Based on the information given we were told that the amount of $71,000 in raw materials were been used in production in which the amount of $62,000 was for used for direct materials while the remaining was for indirect materials which means that the Journal entry will be:

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4. Based on the information given we were told that the Depreciation of the amount of $175,000 was incurred on factory equipment which means that the Journal entry will be :

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4 0
3 years ago
You have a chance to buy an annuity that pays $2,500 at the end of each year for 3 years. You could earn 5.5% on your money in o
artcher [175]

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$6,744.83

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C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 2,500.00

time 3

rate 0.055

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PV $6,744.8334

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