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rjkz [21]
2 years ago
8

May 24 Sold merchandise on account to Old Town Cafe $18,450. The cost of goods sold was $11,000.

Business
1 answer:
zubka84 [21]2 years ago
7 0

Answer:

Date       General Ledger                                        Debit        Credit

May 24   Accounts Receivable-Old Town Café   $18,450

                      Sales                                                                   $18,450

              Cost of goods sold                                 $11,000

                       Inventory                                                            $11,000

Sept. 30  Cash                                                         $6,000

                      Allowance for Doubtful Accounts                      $12,450

                      Accounts Receivable-Old Town Cafe               $18,450

Dec. 7    Accounts Receivable-Old Town Cafe      $12,450

                      Allowance for Doubtful Accounts                     $12,450

              Cash                                                             $12,450

                       Accounts Receivable-Old Town Cafe               $12,450

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Sporting goods charges .85 percent interest per month. what rate of interest are its credit customers actually paying?
seraphim [82]
To answer this item, we assume that the interest rate is simple, such that the yearly rate was only divided by 12 months in order to determine the rate per month. Hence, to answer this item, we simply have to multiply the given percent by 12.

                          rate of interest/year = (12)(0.85%) = 10.2%

Therefore, the answer is 10.2%. 
8 0
3 years ago
Piedmont Hotels is an all-equity firm with 48,000 shares of stock outstanding. The stock has a beta of 1.19 and a standard devia
user100 [1]

Answer:

The firm set as the required rate of return for the project is 14.732%

Explanation:

For computing the required rate of return, the following formula should be used which is shown below:

= Risk free rate of return + (Beta × market risk premium) + adjustment

where,

Risk free rate of return is 4.1%

Beta is 1.19

Market risk premium is 7.8%

Adjustment is 1.35%

Now put these values to the above formula

So, the value wold be equal to

= 4.1% + (1.19 × 7.8%)+ 1.35%

= 4.1% + 9.28% + 1.35%

= 14.732%

The standard deviation is irrelevant. Therefore, it is not considered in the computation part.

Hence, the firm set as the required rate of return for the project is 14.732%

8 0
3 years ago
if there is a major problem in a country that leads to the rapid withdrawal of foreign investment, this is known as​
sukhopar [10]

<u>Answer:</u>

<em>If there is a major problem in a country that leads to the rapid withdrawal of foreign investment, this is known as​ International financial crisis </em>

<em></em>

<u>Explanation:</u>

The financial crisis was mainly brought about by deregulation in the budgetary business. That allowed banks to participate in support investments exchanging with subordinates. Banks, at that point, requested more home loans to help the productive clearance of these subordinates. They made intrigue credits that got moderate to subprime borrowers.

Big banks had the assets to become modern at the utilization of these convoluted subordinates. The money with the most muddled monetary items got the most cash flow.

5 0
3 years ago
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Irina-Kira [14]

Answer:

C) $1000

Explanation:

First lets calculate the cumulative preferred stock dividend for 2 years

(1000 * 10 ) * 5% = 500 / year

so for 2 years = $1000 since it is cumulative and not paid in one year is added to next year.

Total dividend payable = $2000

so for common stock whatever is left over is paid thus,

Common stock share = Total - Preferred cumulative = 2000 - 1000 = $1000

Hope that helps.

4 0
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Why multinational company are developed​
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Answer:

Multinationals provide an inflow of capital into the developing country.

Explanation:

This capital investment helps the economy develop and increase its productive capacity.

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