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3 years ago

Consider each of the transactions below. All of the expenditures were made in cash.

Business

1 answer:

Allushta [10]3 years ago

5 0

Answer:

1. Dr Research and development expenses $25,000

Cr Cash $25,000

2. Dr Legal fees expenses $8,500

Cr Cash $8,500

3. Dr Equipment $38,000

Dr Discount on Note Payable $5,599

Cr Cash $19,000

Cr Note Payable $24,500

4. Dr Building - sprinkler system $41,000

Cr Cash $41,000

5. Dr Patent $25,000

Cr Cash $25,000

6. Dr Equipment new $13,900

Dr Accumulated Depreciation - equipment $7,000

Dr Loss on trade in $3,600

Cr Cash $10,600

Cr Equipment - old $13,900

Explanation:

Preparation of the journal entries

1. Dr Research and development expenses $25,000

Cr Cash $25,000

2. Dr Legal fees expenses $8,500

Cr Cash $8,500

3. Dr Equipment $38,000

Dr Discount on Note Payable $5,599

($38,000-$19,000-$24,500)

Cr Cash $19,000

Cr Note Payable $24,500

4. Dr Building - sprinkler system $41,000

Cr Cash $41,000

5. Dr Patent $25,000

Cr Cash $25,000

6. Dr Equipment new $13,900

Dr Accumulated Depreciation - equipment ($13,900 - $6,900) $7,000

Dr Loss on trade in $3,600

($10,600+$13,900-$13,900-$7,000)

Cr Cash $10,600

Cr Equipment - old $13,900

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You are offered a chance to buy (cash outflow) an asset for $200,000 that is expected to produce cash inflows of $100,000 at the

madreJ [45]

Answer:

15.65%

Explanation:

The computation of the internal rate of return is shown below:

Given that

Years Cash outflow/ cash inflow

0 -$200,000

1 $100,000

2 $77,000

3 $52,000

4 $40,000

The formula is

= IRR()

AFter applying the above formula, the internal rate of return is 15.65%

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2 years ago

Oscar’s Red Carpet Store maintains a checking account with Academy Bank. Oscar’s sells carpet each day but makes bank deposits o

kogti [31]

Answer:

Explanation:

Oscars Red Carpet Store

Bank reconciliation Statement

Balance as Per Bank Statement $11,770

Add back Un-credited checks/deposits

Cash receipts for 26 - 28 Feb $1,500

NSF check $450

Total $1,950

deduct uncleared check

#325 $450

#327 $1,800

Total $2,250

Add withdrawals in Bank not in cash ledger

#323 - understated value in cash ledger ($2,800 - $2,400) $400

Automatic withdrawal - rent $1,300

Service Fee (Academy Bank) $120

Total $1,820

Deduct items in Bank not in Cash ledger

Interest earned $190

Titanic Fabrics repayment $5,950

Total $6,140

Adjusted Bank Balance (in line with Cash balance) $7,150

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3 years ago

Which of the following is a guideline for designing forms and reports? Group of answer choices Design a complex navigation syste

lana [24]

Answer:

b. Balance the layout

Explanation:

The guideline for designing forms and reports involve using meaningful titles, including meaningful information, balancing the layout, designing an easy navigation system.

a. Design a complex navigation system False

The goal of designing forms and reports should include an easy navigation system not a complex one.

b. Balance the layout. True

Balancing the layout is a guideline for designing forms and reports which involves clearly labeling all data and entry fields.

c. Include as much additional information as possible to be comprehensive. False

This is not necessary especially if the additional information is not even meaningful. Only needed information should be displayed.

d. Use abbreviations in titles False

The use of meaningful titles is recommended.

e. Limit the forms or reports to 1000 rows False

This is false. It is recommended to use meaningful labels, formatting columns, rows, and text, and formatting numeric, textual, and alphanumeric data instead.

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3 years ago

Some economists say that economic growth involves a trade-off between current generations and future generations. If a current

mixas84 [53]

Answer:A) Current Consumption

Explanation:

When consumption reduces there is more to reserve for future but if consumption increases then the future generation's consumption is at stake because level of savings will reduce in the current generation.

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3 years ago

Timing of entry into the Indian market brought different results for PepsiCo and Coca-Cola India. What benefits or disadvantages

mamaluj [8]

Answer:

Pepsi got into the Indian market market space on time after Coco-cola introduced their product and left. Pepsi came and accumulated alot of market shares which is an advantage for them for early timing and entry. Pepsi get an early entry while the market is developing and grew with the development of the market, thereby accumulating a lot of market shares. and that is an advantage of early entry.

Coca-Cola came back to Indian market space after 15 years, at that time, Coca-Cola would not take market share away from Pepsi companies because the beverage market was growing consistency from year to year with the early birds in the market space. This is disadvantage of Coca-Cola.

7 0

3 years ago