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spin [16.1K]
3 years ago
11

Concord Corporation is constructing a building. Construction began in 2020 and the building was completed 12/31/20. Concord made

payments to the construction company of $3078000 on 7/1, $6384000 on 9/1, and $5950000 on 12/31. Weighted-average accumulated expenditures were
Business
1 answer:
Daniel [21]3 years ago
5 0

Answer:

$3,667,000

Explanation:

Calculation for Weighted-average accumulated expenditures

Weighted-average accumulated expenditures =($3,078,000 × 6/12) + ( $6,384,000× 4/12)

Weighted-average accumulated expenditures =$1,539,000+$2,128,000

Weighted-average accumulated expenditures =$3,667,000

Therefore the Weighted-average accumulated expenditures were $3,667,000

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At December 31, 2018, Oriole Company reported the following information on its balance sheet.
drek231 [11]

Answer:

Bad debt expense (Dr.) $68,930

Allowance for Doubtful Debt (Cr.) $68,930

Explanation:

Accounts Receivable :

Balance $948,000

Add: Sales $3,609,930

Less: Sales returns $51,000

Less: Collections $2,756,000

Less: Write offs $97,000

Add: Recovery of old Bad debts $28,000

Adjusted Balance $1,653,930

Bad Debts :

Balance $78,000

Less: Allowance for doubtful debts $97,000

Less: Recovery $28,000

Adjusted Balance $9,000

7 0
3 years ago
Colin told the management team that their Ohio-based company should produce the textiles for the new line of jackets in China be
ELEN [110]

Answer:

Free trade.

Explanation:

This theoretical policy can be explained to be certain laws under which the government is seen to impose absolutely no tariffs, taxes, or duties on imports, or quotas on exports. Therefore, it is directly seen to be the opposite of protectionism, a defensive trade policy intended to eliminate the possibility of foreign competition. It is seen in terms of unrestricted measures in importation and also exportation of goods in and out of a country.

In the world of our own, which is of the recent times, this policy implementation is done by means of a formal and mutual agreement of the nations which are seen to be involved. Also this policy in some cases may simply be the absence of any trade restrictions.

7 0
3 years ago
At September 1, 2022, Coronado Industries reported Retained Earnings of $397620. During the month, Coronado generated revenues o
Angelina_Jolie [31]

Answer:

Closing retained earning is $414,540

Explanation:

The Retained Earnings figure can be calculated using the following equation:

Closing Retained Earnings = Opening Retained Earnings + (Sales - Expenses - Dividends)

Here

Opening balance of Retained Earning is $397,620

Revenues is $56,400

Expenses are $33,840

Dividends paid are $5,640

The purchased equipment is not considered here because it is increase in asset not an increase or decrease in revenue or expenses. So it is not considered here.

So by putting values, we have:

Closing Retained Earnings = $397,620 + ($56,400 - $33,840 - $5,640)

Closing Retained Earnings = $414,540

8 0
3 years ago
Ou are new. your manager is giving you lots of instructions for tasks she wants done. she is speaking so quickly and telling you
mars1129 [50]
I would do the things I remember. and next time I will secretly record it
7 0
3 years ago
The store where you bought new home furnishings offers you two alternative payment plans. The first plan requires a $4,000 immed
blondinia [14]

Answer:

The nominal annual interest rate is built into the monthly payment plan is 14.4%

Explanation:

E = P×r×(1 + r)n/((1 + r)n - 1)

where:

E is the EMI

p is the Principal

r is the nominal rate

n is the number of periods

$137.41 = $4,000*r* (1 + r)36/((1 + r)^36 -1)

           r = 14.4% P.A

Therefore, The nominal annual interest rate is built into the monthly payment plan is 14.4%

8 0
3 years ago
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