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3 years ago

On July 1, 2020, Riverbed Inc. made two sales.

Business

1 answer:

V125BC [204]3 years ago

8 0

Answer:

Riverbed Inc.

Journal Entries:

1. Debit 0% 4-year Promissory Notes Receivable $1,435,565

Credit Land $597,200

Credit Gain on Sale of Land $315,130

Credit Interest Revenue $523,235

To record the sale of land in exchange for a note with face value of $1,435,565

2. Debit 3% 8-year Promissory Note Receivable $401,660

Credit Service Revenue $162,224

Credit Interest Revenue $239,436

To record the rendering of service in exchange for a note with face value of $401,660.

Explanation:

a) Data and Analysis:

July 1, 2020:

1. 0% 4-year Promissory Notes Receivable $1,435,565 Land $597,200 Gain on Sale of Land $315,130 Interest Revenue $523,235

From an online financial calculator, the PV and Interest:

N (# of periods) 4

I/Y (Interest per year) 12

PMT (Periodic Payment) 0

FV (Future Value) 1435565

Results

PV = $912,330

Total Interest $523,235

Gain on Sale of Land:

Fair value of the land = $912,330

Book value of the land 597,200

Gain on sale of land = $315,130

2. 3% 8-year Promissory Note Receivable $401,660 Service Revenue $162,224 Interest Revenue $239,436

From an online financial calculator, the PV and Interest:

N (# of periods) 8

I/Y (Interest per year) 12

PMT (Periodic Payment) 0

FV (Future Value) 401660

Results

PV = $162,224

Total Interest $239,436

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MC Qu. 93 Job A3B was ordered by a customer on... Job A3B was ordered by a customer on September 25. During the month of Septemb

Aleks04 [339]

Answer:

$16,500

Explanation:

Note: Work In Process simply mean the cost of Job which is not complete.

Work In Process = Direct Materials + Direct Labor + Overhead Cost

Work In Process = $3,000 + $4,500 + ($4,500*200%)

Work In Process = $3,000 + $4,500 + $9,000

Work In Process = $16,500

So, the balance in the Work in Process account at the end of September relative to Job A3B is $16,500.

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3 years ago

Sales $ 1,000,000 Net income $ 45,000 Current Assets $ 50,000 Fixed Assets $ 200,000 Total Assets $ 250,000 Current Liabilities

marishachu [46]

Answer:

Profit Margin = income / sales

45,000 / 1,000,000 = 4.5%

Return on Assets = income / assets

45,000 / 250,000 = 18%

Assets turnover = sales / assets

1,000,000 / 250,000 = 4

Earning per share: income / shares outstanding

45,000 / 40,000 = 1.125

Price- Earning ratio = market price / EPS

28 / 1.125 = 24,89

Return on Equity = income / equity*

45,000 / 120,000 = 37.5%

Debt to Equity ratio liab / equity

130,000 / 120,000 = 1,08

Explanation:

*solving for equity

Assets = laib + equity

250,000 = 130,000 + equity

equity = 120,000

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4 years ago

When a cpa examines a client's projected financial statements the cpa's report should:________.

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The CPA or Certified Public Accountant's report should state that the CPA performed procedures to evaluate management assumptions when they examine a client's projected financial statements.

CPAs are public accountants who are licensed to practice their profession publicly and must always comply with the government's taxation practices and provisions of Statements on Standards for Accounting and Review Services.

Take note, CPA report doesn't refer to the their auditor's report on the historical financial statements. The report cannot also explain the principal differences between the historical statements and the projected financial statements.

Additionally, a CPA's report must not include the their opinion on the client's ability to continue as a going concern.

Curious about Code of Ethics for CPAs? Read here: brainly.com/question/28198157

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1 year ago

Will give brainliest

erica [24]

Explanation:

To describe about the types of discount, let us understand the purpose of discount.

Discount can occur in any "distribution channel". This can,

To attract, retain and get customers
short term sales
to move-out-of-stock etc.

Types of discounts:

You can call in simple,

1. Trade discount 2. Quantity discount 3. Cash discount

I am giving you detail discounts down.

Dealing with trade
Discount card
Coupons
Dealing with quantity
Trade-in credit
Rebate

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3 years ago

A manufacturer of hospital supplies has a uniform annual demand for 320,000 boxes of bandages. It costs $10 to store one box of

strojnjashka [21]

Answer:

Number of times for production = 10 times

Explanation:

Economic batch quantity (EBQ) is also known as economic production run, It is the optimum production run that a manufacturer should operate to minize set up cost and carrying cost.

Carrying cost is the cost of keeping inventory while set up cost is cost of getting machines ready for production

The number of times the company should produce =

Annual demand / the economic production run(EBQ)

It is calculated as follows:

Economic batch quantity =√2× Co× D / Ch

Where ,

D - annual demand -320,000,

Ch -holding cost per unit per annum - $10

Co- set up cost - $160 ,

= √ (2 × 160× 320000/10)

= 3200

Number of times for production

= 320,000/3,200

= 10 times

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3 years ago