Answer:
When issuing a check to a creditor as is being done here, you need to debit the creditors account (Accounts Payable) to show that you are paying off the debt.
You also need to credit cash because a credit will show that cash was used to pay for something and so has reduced.
Date Account Title Debit Credit
XX-XX-XXX Accounts Payable - Saurya Stores Rs. 39,000
Cash Rs. 39,000
Answer:
27%
Explanation:
The actual rate being charge on these loans is the effective annual rate and the formula to calculate it is:
i=(1+(r/m))^m−1
i= effective annual rate
r= interest rate in decimal form=0.24
m=number of compounding periods per year= 52 (a year has 52 weeks).
i=(1+(0.24/52))^52-1
i=1.27-1
i=0.27
According to this, the answer is that the actual rate being charge on these loans is 27%.
Answer:
Production = 31000 Units
Explanation:
To calculate the production requirement for the month of August to meet the required sales and desired ending inventory, we will use the following formula,
Sales = Opening Inventory + Production - Closing Inventory
Plugging in the values we have for sales, opening inventory and closing inventory, we calculate the production to be,
30000 = 11500 + Production - 12500
30000 + 12500 - 11500 = Production
Production = 31000 Units
Answer:
The amount of dividends distributed to preferred stockholders in 2017 is $10000.
Explanation:
The preferred stock is non cumulative which means that if the company is unable to pay dividends on preferred stock in a certain year, the dividend for that year will not be accumulated and will not be paid in the next year.
Thus, the company only paid a dividend of $2700 in 2016 and the remaining dividends will not be payable by the company in year 2017.
The dividend on each share of preferred stock per year is = 10 * 0.05 = $0.5 per share
The number of shares of preferred stock are 20000.
The total dividends that will be paid to preferred stock holders in 2017 is = 0.5 * 20000 = $10000
Thus, out of the $27000 dividends of 2017, $10000 was distributed to preferred stockholders.
Answer:
A. Net margins, debt leverage, and asset turnover.
Explanation:
ROE = (Net income / sales) x (sales / total assets) x (total assets / shareholders equity)
I hope my answer helps you
