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muminat
3 years ago
12

Vaughn Manufacturing assigned $1606000 of accounts receivable to Cullumber Company as security for a loan of $1342000. Cullumber

charged a 3% commission on the amount of the loan; the interest rate on the note was 11%. During the first month, Vaughn collected $459000 on assigned accounts after deducting $1550 of discounts. Vaughn accepted returns worth $5300 and wrote off assigned accounts totaling $11880. Entries during the first month would include a
Business
1 answer:
liubo4ka [24]3 years ago
7 0

Answer:

Entries during the first month would include the following:

Account Title                                 Debit      Credit

Interest Expenses                      $40,260

(1342000*3%)

       Kwik                                                        $40,260

Cash                                             $459,000

Discount                                       $1,550

       Account Receivable                                $460,550

Sales Return                                 $5,300

         Account Receivable                               $5,300

Allowances for Doubtful Debt     $$11,880

        Account Receivable                                 $$11,880

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Which of the following statements is CORRECT?
rusak2 [61]

Answer:

D. The constant growth model cannot be used for a zero growth stock, where the dividend is expected to remain constant over time.

Explanation:

So, we evaluate each option.

a. We discount the dividends by the required rate of return. So incorrect.

b. The dividend yield is annual dividend per share divided by stick price per share. the 5% is the growth in dividend and not the actual dividend itself. So, incorrect.

c. The constant growth is appropriate for companies whose dividend patterns are stable. Startups have multiple stage growths and this option becomes incorrect as constant growth is not applicable.

d. A zero growth stock is one where dividend remains the same. So when there is no growth in dividend, the constant growth model becomes inapplicable. So, the statement is correct.

So, here we have our correct statement and all others are incorrect.

6 0
3 years ago
The Blue Corporation started and completed 4,800 units during February. Blue started the month with 700 units in process (40% co
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3 years ago
James and Amanda are brother and sister who still live at home with their parents. Amanda is almost completely finished with her
ira [324]

Answer:

The correct option is b) a type of plagiarism called sharing work ( collusion)

Explanation:

Plagiarism is a very unethical and unprofessional thing a person can do. It actually means when take some other persons thought, idea ,or any work and show it as your own, sometimes people do it intentionally and unintentionally.

In the question given above, it is the above it is a case of share working which is also know as collusion, this type of situation arises when a person passes on his or her work to other person willingly, as you can see the same thing has happened in this question as Amanda has allowed James to use her work as her own.

6 0
3 years ago
On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $206,790.00 w
trapecia [35]

Answer:

$2,068

Explanation:

As per given data

Cost of Cages = $206,790

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Net book value is the net value of the cost of asset and the accumulated depreciation of that asset.

Net Book Value = Cost of Cages - Accumulated depreciation

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6 0
3 years ago
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Answer:

As the details of the job are not included, I shall use the general source documents for these costs.

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For manufacturing overheads, a predetermined rate is usually used to apportion the cost.

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