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gladu [14]
3 years ago
15

What is the rate of return when 20 shares of Stock A purchased for \$30/share , are sold for $710? The commission on the sale is

$6
Business
1 answer:
nikklg [1K]3 years ago
7 0

Answer:

ROI=17.33%

Explanation:

the rate of return = Net gain/ initial investments x 100 %

Net gains = (selling price  - commissions) -  purchase price

Purchase price = 20 x $30 = $600

Selling price = 710

Commission = $6

ROI ={( 710 - 6) - 600}/ 600 x 100

ROI = 104/600 x 100

ROI= 0.173333 x 100

ROI=17.33%

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Explanation:

The journal entries are shown below:

1. Building A/c Dr $176

  Equipment A/c Dr $270

               To Cash A/c $408

                To Note payable A/c $38

(Being the building and the equipment is purchased for cash and note payable)

2. Cash A/c Dr $345

        To Common stock $240 (120 shares × $2)

        To Additional paid in capital A/c - Common stock A/c $105

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3. Retained earnings A/c Dr $145

            To Dividend payable A/c $145

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4. Short - term investment A/c Dr $7,616

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(Being the short term investment is purchased for cash)

5. No journal entry is required

6. Cash A/c Dr $4,413

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8 0
3 years ago
On January 1, Salter Corporation determined that its direct materials inventory needs to contain 6,000 pounds of materials by Ma
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Answer: 21000

Explanation:

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5 0
2 years ago
1) Banks hold excess and secondary reserves to
o-na [289]
1) Banks hold excess and secondary reserves toA) reduce the interest-rate risk problem.


2) Which of the following statements most accurately describes the task of bank asset management?
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Hope this helps. Have a nice day.
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3 years ago
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65.643 is the answer of the interest rate
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Knowing that $45,500 is a very good price for an LS-400, Mike is the first customer to appear at the Larson lot on Saturday, Oct
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Answer:

Yes

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Based on the information provided within the question we can say that Yes, the dealership is contractually bound to sell Mike the car at that price. This is assuming that the ad handed to the dealership by Mike is an actual ad that was designed and published by the dealership. If this is the case the dealership must uphold their price or it will be considered false advertisement and Mike would have a basis on which to sue the business.

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