Two hundred or higher (200+)
Answer:
1. Blossom Company Journal entry
April 10
Dr cash$35,175
Cr Sales $33,500
Cr Sales tax $1,675
2. Oriole Company Journal entry
April 15
Dr Cash $25,970
Cr sales $24,500
Cr Sales tax $1,470
Explanation:
1. Blossom Company Journal entry
April 10
Dr cash ($33,500+$1,675) $35,175
Cr Sales $33,500
Cr Sales tax $1,675
2. Oriole Company Journal entry
April 15
Dr Cash $25,970
Cr sales ($25,970/1.06) $24,500
Cr Sales tax $1,470
($25,970-$24,500)
Answer:
D. $221072.
Explanation:
In this question, we use the future value formula which is shown in the spreadsheet.
The NPER represents the time period.
Given that,
Present value = $0
Rate of interest = 5%
NPER = 25 years
PMT = 4,632
The formula is shown below:
= -FV(Rate;NPER;PMT;PV;type)
So, after solving this, the answer would be $221,071.92
Answer:
Collection of Cash on January 10
The Impact on ABC's accounting equation:
The Assets (Cash) will increase by $30,000 and another type of Assets (Accounts Receivable) will decrease by $30,000.
The collection of cash on January 10 does not affect the other side of the accounting equation.
Explanation:
The accounting equation shows that for every transaction, the Assets will be equal to the Liabilities + Owners' Equity. The explanation is that the financial resources which an entity owns actually belong to either creditors or equity owners in the form of financial obligations (liabilities) or contributed capital plus some parts of the net income over the years which the entity has reinvested in its business.
The accounting equation is the fulcrum of the double-entry accounting system. On a company's balance sheet, the accounting equation shows that assets equal the sum of the company's liabilities and shareholders' equity.
Answer:
The correct answer is letter "C": Increase borrowing in the US, convert to Canadian dollars and invest in Canada.
Explanation:
Carry trade is a trading strategy that consists in requesting loans to a low-interest rate and use that financing to invest in assets that would revenue higher income. This strategy is being used in the currency market. <em>The idea is for investors to be financed in one currency with a low-interest rate so later that money can be invested in other currencies with a higher interest rate in the original country where the currency is issued</em>.