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Amiraneli [1.4K]

2 years ago

6

A corporation issued 2,500 shares of its no par common stock at a cash price of $11 per share. The entry to record this transact

ion would be:

1 answer:

dsp732 years ago

5 0

Answer:

Date Account Titles and Explanation Debit Credit

Cash $27,500

Common stock $27,500

(Being shares issued at cash price recorded)

Common stock = 2,500 shares * $11

Common stock = $27,500

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Sexton, Corp., has projected the following sales for the coming year: Q1 Q2 Q3 Q4 Sales $ 860 $ 940 $ 900 $ 1,000 Sales in the y

earnstyle [38]

Answer:

Q1 Q2 Q3 Q4

a. Payment of accounts ($) 258.00 282.00 270.00 300.00

b. Payment of accounts ($) 258.00 282.00 270.00 300.00

c. Payment of accounts ($) 258.00 282.00 270.00 300.00

Explanation:

Given:

Q1 Q2 Q3 Q4

Sales ($) 860 940 900 1,000

Therefore, we have:

a. Calculate payments to suppliers assuming that the company places orders during each quarter equal to 30 percent of projected sales for the next quarter. Assume that the company pays immediately. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

This is done as follows:

Q1 Q2 Q3 Q4

Order (30% of Sales) ($) 258.00 282.00 270.00 300.00

Payment of accounts ($) 258.00 282.00 270.00 300.00

b. Calculate payments to suppliers assuming a 90-day payables period. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

A 90-day payables period implies that the payment has be made within the next 90 days or within one quarter or the same quarter. Therefore, we have:

Q1 Q2 Q3 Q4

Order (30% of Sales) ($) 258.00 282.00 270.00 300.00

Payment of accounts ($) 258.00 282.00 270.00 300.00

c. Calculate payments to suppliers assuming a 60-day payables period.

A 60-day payables period implies the payment for the Order in each of the quarters has to be made in the same quarter.

Therefore, we have:

Q1 Q2 Q3 Q4

Order (30% of Sales) ($) 258.00 282.00 270.00 300.00

Payment of accounts ($) 258.00 282.00 270.00 300.00

Note:

It can be observed that the answer look the same for all the questions.

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3 years ago

Garrett makes and distributes copies of here we go again, a movie copyrighted by indie motion pictures, inc. Garrett does this w

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He may be liable for<u> "damages, fines, or imprisonment."</u>

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3 years ago

He gross domestic product (gdp) of the united states is defined as the

Mashcka [7]

The worlds most largest national economy in nominal terms. Is the second largest in purchasing power parity (ppp).
representing 22 percent of nominal global gpd and 17 percent of gross world product (gwd)

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3 years ago

Money your company has in the bank is called what?

Nutka1998 [239]

The answer is a, a cash reserve

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3 years ago

Read 2 more answers

A manager must decide on the mix of products to produce for the coming week. Product A requires three minutes per unit for moldi

atroni [7]

Answer:

Check the explanation

Explanation:

Going by the question above we will have to first work on the

Formulation of LP:

Maximize profit

Z = 1.5A+1.5B where A - number of units of product A and B - number of units of product B

subject to constraints -

600 minutes available for molding

3A+2B <=600 ---> Molding constraint---> 1

600 minutes available for painting

2A+4B<=600 ---> Painting constraint---> 2

420 minutes available for packing

A+3B<=420 ---> Packing constraint---> 3

A, B, C >=0 ---> Non-negative constraint ---> 4

b) Solution with the help of Excel solver:

Target cell will be the RHS or profit value of the objective function as we are maximizing the profit.

Changing cells will be A and B ---> number of units of products

Constraints will be entered as below. The same are also listed in part A (1,2,3,4).

The attached images below are the formulation.

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3 years ago