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s2008m [1.1K]
3 years ago
5

Cumberland Co. sells $1,114 of merchandise to Hancock Co. for cash. Cumberland paid $779 for the merchandise. Under a perpetual

inventory system, which of the following is the correct journal entry(is)?
a. debit Cash, $1.084 credit Merchandise Inventory: $722
b. debit Cash. $1,084. credit Sales. $1.084 and debit Cost of Merchandise Sold. 722credit Merchandise Inventory: 5722
c. debit Accounts Receivable. $1,084, credit Sales. $1,084, and debit Cost of Merchandise Sold, 5722 credit Merchandise Inventory, 5722
d. debit Cash 5722: credit Sales. $722
Business
1 answer:
elixir [45]3 years ago
4 0

Answer:

Debit Cash $1,114

Credit Sales $1,114

Debit Cost of merchandise sold $779

Credit Merchandise inventory $779

Explanation:

Based on the information given the correct journal entry(is):

Debit Cash $1,114

Credit Sales $1,114

Debit Cost of merchandise sold $779

Credit Merchandise inventory $779

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Cromwell's Interiors is considering a project that is equally as risky as the firm's current operations. The firm has a cost of
mario62 [17]

Answer:

Cost of capital = 12.40%

Explanation:

given data

cost of equity = 15.4 percent

pretax cost of debt = 8.9 percent

debt-equity ratio = 0.46

tax rate = 34 percent

to find out

What is the cost of capital for this project

solution

first we get Equity multiplier that is express as

Equity multiplier = 1 + debt-equity ratio  ..................1

put here value

Equity multiplier = 1 + 0.46

Equity multiplier = 1.46

and

Weight of equity will be

Weight of equity = \frac{1}{Equity\ multiplier}    ....................2

put here value

Weight of equity = \frac{1}{1.46}

Weight of equity =  0.6849

and

Weight of Debt will be here

Weight of Debt = 1 -  weight of equity    ...........................3

put here value

Weight of Debt =  1 - 0.6849

Weight of Debt =   0.3151

so

Cost of capital will be here as

Cost of capital = Weight of Debt  × pretax cost of debt ×  (1- tax rate )  + cost of equity ×  Weight of equity    .....................4

put here value we get    

Cost of capital = 0.3151 × 8.9% × (1 - 0.34) + 15.4% × 0.6849

Cost of capital = 12.40%

7 0
3 years ago
Northwest Fur Co. started the year with $92,000 of merchandise inventory on hand. During the year, $425,000 in merchandise was p
Artyom0805 [142]

Answer:

$ 142,800.00  

Explanation:

The ending inventory can be computed by rearranging the cost of goods sold formula:

cost of goods sold=Beginning inventory+net purchases-ending inventory

ending inventory=beginning inventory+net purchases-cost of goods sold

beginning inventory is $92,000

Net purchases=purchases-discount+freight-in charges-purchase return

net purchases=$425,000-($425,000*1%)+$7000-($5000*99%)=$422,800.00  

cost of goods sold is $372,000

ending inventory=$92,000+$422,800-$372,000=$ 142,800.00  

8 0
3 years ago
On July 1, 2021, Tremen Corporation acquired 40% of the shares of Delany Company. Tremen paid $3,070,000 for the investment, and
forsale [732]

Answer:

Tremen's "Investment in Delany Company" account would have abalance of $3,214,000 at the end year of December 31 ,2021.

Explanation:

Dividend paid for the whole year = $170,000*4 = 680,000

= $3,070,000 + (40%)(1/2 of the year)($1,400,000 - $680,000

= $3,070,000 + 144,000

= $3,214,000

8 0
3 years ago
Recognizing an employee as the Star Performer of the Month would be satisfying the _____ need of the Maslow s hierarchy of needs
Vikki [24]

Answer:

The correct answer to the following question is Esteem need of Maslows hierarchy of needs.

Explanation:

Maslows hierarchy of need is a motivation theory given by Abraham maslow, according to him people are motivated in order to achieve certain. He has described his theory of needs as pyramid which consists of physiological needs, safety needs,  social needs, esteem needs and self actualization.

In esteem needs , maslow tells about people's need for appreciation and respect, after a person has achieved the first three basis needs , the persons behavior would be motivated by esteem needs. Because people have need for feeling prestige and sense of accomplishment, self worth and self esteem.

6 0
3 years ago
What type of information system would a chain of theaters use to sell<br><br> tickets?
FinnZ [79.3K]

Answer:

transaction processing system

8 0
3 years ago
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