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xz_007 [3.2K]
3 years ago
10

Juniper Company, Inc. uses a perpetual inventory system. The company purchased $9,750 of merchandise on August 7 with terms 1/10

, n/30. On August 11, it returned $1,500 worth of merchandise. On August 26, it paid the full amount due. The correct journal entry to record the merchandise return on August 11 is:
Business
1 answer:
Ilia_Sergeevich [38]3 years ago
7 0

Answer and Explanation:

The journal entry is shown below:

Accounts payable $1,500  

          To Merchandise Inventory  $1,500

(being purchase returns is recorded)  

here account payable is debited as it decreased the liabilities and credited the merchandise inventory as it decreased the assets

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Park Corporation is planning to issue bonds with a face value of $2,000,000 and a coupon rate of 10 percent. The bonds mature in
Alborosie

Answer:

Cash                      2,214,007 debit

        bonds payable              2,000,000 credit

        premium on B.P                 214,007 credit

Explanation:

To know the proceeds for the bonds we will calculate the present value of the coupon payment and the present vlaue of the maturity at market rate:

The coupon payment will be an ordnary annuity

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

Coupon payment: 2,000,000 x 0.05 =  100,000

time: 10 years x 2 payment per year = 20

rate 8.5% annual rate: 0.085/2 = 0.0425 semiannual rate

100000 \times \frac{1-(1+0.0425)^{-20} }{0.0425} = PV\\

PV $1,329,436.5808

Whilethe maturity the present value of a lump sum

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity  2,000,000.00

time   10 years to maturity

 rate  0.085

\frac{2000000}{(1 + 0.085)^{10} } = PV  

PV   884,570.83

PV coupon payment $1,329,436.5808

PV maturity                   $884,570.8301

Total $2,214,007.4109

facevalue  2,000,000

premium        214,007

8 0
3 years ago
You invest $100 in a risky asset with an expected rate of return of 0.12 and a standard deviation of 0.15 and a t-bill with a ra
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3 years ago
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hour
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<u>Explanation:</u>

1. Calculation of labor spending variance for the month of march

Labor spending variance = (Actual rate x actual hours)- (Standard rate x Standard hours)

=(13 x 63000) - (12 x (26000 x 3))

=-1,38,600

Labor spending variance for the month of March is $138600

2.Calculation of variable manufacturing overhead planning cost

Variable manufacturing overhead planning cost= (Planning budget units x required hours x cost per hour)

=(21000 x 3 x7)

=441,000

Variable manufacturing overhead planning cost is $441,000

3. Calculation of Variable manufacturing overhead cost

Variable manufacturing overhead  cost= (Actual units x required hours x cost per hour)

=(26600 x 3 x7)

=$558,600

Variable manufacturing overhead  cost is $558,600

4. Calculation of Variable overhead rate variance

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=63000(8.11-8)

=63000(0.11)

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Variable overhead rate variance is =6930

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3 years ago
Through ________, many companies today are strengthening their connections to all partners, from providers of raw materials to c
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Explanation:

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3 years ago
Personal Accents, Inc., (PAI) is a publicly held company that specializes in selling a variety of skin- and hair-care products.
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Answer:

The answer is option “d” – selling PAI stock short.

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