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2 years ago

The May transactions of Hanschu Corporation were as follows.

Business

1 answer:

romanna [79]2 years ago

5 0

Answer and Explanation:

The journal entries are as follows:

On May 4

Account payable $600

To cash $600

(Being cash paid is recorded)

On May 7

Account receivable $6,500

To service revenue $6,500

(being service on account is recorded)

On May 8

Supplies $800

To Account payable $800

(being supplies purchased on account)

On May 9

Equipment $1,000

To cash $1,000

(being cash paid)

On May 17

Salary expense $500

To cash $500

(being cash paid)

On May 22

Repair expense $800

To Account payable $800

(Being received bill for repairing of an equipment is recorded)

On May 27

Prepaid rent $1,100

To cash $1,100

(Being cash paid is recorded)

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Jones Mfg. has current assets of $26,900, net working capital of $8,200, long-term debt of $21,500, and total equity of $57,800.

abruzzese [7]

Answer:

Explanation:

Jones Mfg. has current assets of $26,900, net working capital of $8,200, long-term debt of $21,500, and total equity of $57,800. What is the equity multiplier?

6 0

2 years ago

A proposed new project has projected sales of $132,000, costs of $66,000, and depreciation of $13,500. The tax rate is 30%. Calc

Verizon [17]

Answer:Operating cash flow $ _50,250__

Yes, the answer is same in each case

Explanation:

a) EBIT + Depreciation - Tax

= ($132,000-$66,000-$13,500) + $13,500 - Tax

= $52,500 + $13,500-(30% x $52,500)

=$52,500 + $13,500-15,750

EBIT + Depreciation - Tax=$50,250

b)Top down OCF = EBIT - (EBIT x Tax) + Depreciation

Top down OCF = $52,500 - ($52,500 x 30%) + $13,500

Top down OCF = $52,500 -15,750 + $13,500

Top down OCF =$50,250

Tax shield OCF =(Sales - Cost)(1-t) + Depreciation (t)

Tax shield OCF = ($132,000-$66,000) (1-0.30) + ($13,500 x0.30)

Tax shield OCF =$66,000 x 0.7 + 4,050

Tax shield OCF = 46,200+ 4,050

Tax shield OCF = $50,250

Bottom Up OCF = Net Income + Dep

Bottom Up OCF =($132,000-$66,000-$13,500 ) - Tax ) + Dep

Bottom Up OCF = $52,500-(0.3 x $52,500 )+ $13,500

Bottom Up OCF = $52,500 -15,750 + $13,500

Bottom Up OCF =$50,250

2. Yes, the answer is same in each case

4 0

3 years ago

In the month of June, a department had 20,000 units in Beginning Work-in-Process that were 70% complete. During June, 90,000 uni

BigorU [14]

Answer:

110,000 units

Explanation:

Calculation of the equivalent units of production for materials in June

Beginning work in process 20,000

Units started and completed (90,000-10,000) 80,000

Ending work in process 10,000

Equivalent units of production for materials for June 110,000 units

3 0

3 years ago

Which of the following types of funding for college requires repayment?

jek_recluse [69]

Answer: Loan

Explanation:

3 0

3 years ago

Read 2 more answers

On August 2, Jun Co. receives a $8,000, 90-day, 11.0% note from customer Ryan Albany as payment on his $8,000 account receivable

GarryVolchara [31]

Answer:

August 2 Notes Receivable 8000 Dr

Accounts Receivable- Ryan 8000 Cr

October 30 Interest receivable 220 Dr

Interest Revenue 220 Cr

October 31 Cash 8220 Dr

Notes Receivable 8000 Cr

Interest Receivable 220 Cr

Explanation:

When we receive the Note against the Accounts Receivable, we will credit the Accounts Receivable to close the account of Ryan and create a new current asset account of Notes Receivable on August 2.

On October 30, 90 days period of Note is complete so we will record the interest that is receivable for us on this note.

Interest Receivable = 8000 * 11% * 90/360 = $220

We record this as Interest Receivable as we have not received this and credit Interest revenue as it is our income.

On 31 October, when we receive cash it will be total of Notes payable and Interest so we will debit cash by 8220 and credit the Notes payable and interest receivable.

8 0

3 years ago