Answer:
Oct 1
DR Cash............................................................................$20,000
CR Common Stock.........................................................................$20,000
Oct 2. No entry required
Oct 3
DR Office Furniture .....................................................$2,300
CR Accounts Payable................................................................$2,300
Oct 6
DR Accounts Receivable.............................................$3,600
CR Service Revenue - Realty services...................................$3,600
Oct 27
DR Accounts Payable ..................................................$850
CR Cash .......................................................................................$850
Oct 30
DR Salaries Expense ....................................................$2,500
CR Cash ..........................................................................................$2,500
Answer:
Cullumber Company
Balance Sheet
As at 2022
Explanation: Amount in $
Current Assets
Accounts Receivable 12,500
Cash 13,000
Prepaid Insurance 6,600
Supplies 4,600
Total Current Assets 36,700
Non-Current Assets
Equipment (225,000-36,900) 188,100
Total Assets <u> </u><u>224,800</u>
Liabilities & Shareholders' Equity
Current Liabilities
Accounts Payable 10,600
Notes Payable 65,000
Salaries Payable 3,900
Total Current Liabilities 79,500
Equity
Common Stocks 97,000
Retained Earnings (25,900+133,000-21,400-13,600-2,600-16,800-33,500-6,700) 64,300
Dividends (16,000)
Total Equity 145,300
Total Liabilities & shareholders' equity <u>224,800</u>
Answer: The coupon rate is 13%
Explanation:
We would first calculate the Coupon Payment and then later using the coupon payment we would compute the Coupon rate.
PV = 
+ A [![[\frac{1-\frac{1}{(1+r)^{N} } }{r} ]](https://tex.z-dn.net/?f=%5B%5Cfrac%7B1-%5Cfrac%7B1%7D%7B%281%2Br%29%5E%7BN%7D%20%7D%20%7D%7Br%7D%20%5D)
]
Where,
FV = $1,000
PV = $1,291.31
r = 8%
N = 8 Years
A = Coupon Payment
1291.31 = 
+ A ![[\frac{1-\frac{1}{(1+0.08)^{8} } }{0.08} ]](https://tex.z-dn.net/?f=%5B%5Cfrac%7B1-%5Cfrac%7B1%7D%7B%281%2B0.08%29%5E%7B8%7D%20%7D%20%7D%7B0.08%7D%20%5D)
Solve for A
A = 130.69
The coupon payment is $130
Coupon rate = (Coupon payment / Face value) x 100
= 
x 100
= 13 %
Answer:
The correct answer is $3
Explanation:
Cost per equivalent unit = Total costs / EUP for materials = ($50000+ $10000) / 20000 = $3
