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3 years ago

6

A company borrowed $15,000 by signing a 120-day promissory note at 10%. The total interest due on the maturity date is: (Use 360

days a year.)

1 answer:

topjm [15]3 years ago

7 0

Answer: $500

Explanation:

Interest for the period = Amount borrowed * Interest rate * 120/360 days

= 15,000 * 10% * 120/360

= $500

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Denzel Brooks opened a Web consulting business called Venture Consultants and completes the following transactions in March Marc

san4es73 [151]

Answer:

1. Prepare general journal entries to record these transactions using the following titles:

March 1

Dr Cash (101) 175,000

Dr Office Equipment (163) 26,000

Cr Common Stock (307) 201,000

March 2

Dr Prepaid Rent (131) 6,000

Cr Cash (101) 6,000

March 3

Dr Office Equipment (163) 3,800

Dr Office Supplies (124) 2,200

Cr Accounts Payable (201) 6,000

March 6

Dr Cash (101) 4,500

Cr Services Revenue (403) 4,500

March 9

Dr Accounts Receivable (106) 10,900

Cr Services Revenue (403) 10,900

March 12

Dr Accounts Payable (201) 6,000

Cr Cash (101) 6,000

March 19

Dr Prepaid Insurance (128) 6,400

Cr Cash (101) 6,400

March 22

Dr Cash (101) 4,000

Cr Accounts Receivable (106) 4,000

March 25

Dr Accounts Receivable (106) 5,330

Cr Services Revenue (403) 5,330

March 29

Dr Dividends (319) 5,400

Cr Cash (101) 5,400

March 30

Dr Office Supplies (124) 1,700

Cr Accounts Payable (201) 1,700

March 31

Dr Utilities Expense (690) 1,400

Cr Cash (101) 1,400

2. Post the journal entries from part 1 to the ledger accounts.

Account Description Debit Credit

101 Cash 175,000

6,000

4,500

6,000

6,400

4,000

5,400

<u> 1,400 </u>

101 Cash 158,300

106 Accounts Receivable 10,900

4,000

<u> 5,330 </u>

106 Accounts Receivable 12,330

124 Office Supplies 2,200

<u> 1,700 </u>

124 Office Supplies 3,900

128 Prepaid Insurance 6,400

131 Prepaid Rent 6,000

163 Office Equipment 26,000

<u> 3,800 </u>

163 Office Equipment 29,800

201 Accounts Payable 6,000

6,000

<u> 1,700 </u>

201 Accounts Payable 1,700

307 Common Stock 201,000

319 Dividends 5,400

403 Services Revenue 4,500

10,900

<u> 5,330 </u>

403 Services Revenue 20,730

690 Utilities Expense 1,400

3. Prepare a trial balance as of April 30.

Account Description Debit Credit

101 Cash 158,300

106 Accounts Receivable 10,900

106 Accounts Receivable 12,330

124 Office Supplies 3,900

128 Prepaid Insurance 6,400

131 Prepaid Rent 6,000

163 Office Equipment 29,800

201 Accounts Payable 1,700

307 Common Stock 201,000

319 Dividends 5,400

Retained earnings 11,000

403 Services Revenue 20,730

690 Utilities Expense 1,400

<u> </u>

TOTAL 234,430 234,430

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4 years ago

Your company is about to undertake a major investment project. The project will require an initial outlay of $100 million for fi

Tcecarenko [31]

Answer:

A) initial outlay = $150 million

Cash flow year 1 = [($30 - $25) x 0.6] + $25 = $28

Cash flow year 2 = [($30 - $25) x 0.6] + $25 = $28

Cash flow year 3 = [($30 - $25) x 0.6] + $25 = $28

Cash flow year 4 = [($30 - $25) x 0.6] + $25 + ($25 x 60%) + $50 = $93

B) Using a financial calculator, NPV = -$16.85 million

C) cash flow year 4 should increase by $24.667 million, meaning that the selling price must increase by $$24.667/0.6 = $41.11 million

minimum selling price $25 + $41.11 = $66.11 million

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3 years ago

A company's issued share capital throughout an accounting period consists of 500,000 common shares of 20 cent each and 100,000 p

ella [17]

Answer:

a. $0.30

Explanation:

Basic Earning Per Share (BEPS) = Earnings Attributable to Holders of Common Stock ÷ Weighted Average Number of Common Stock.

Earnings Attributable to Holders of Common Stock calculation :

Net income after tax for the period $160,000

Less Preference Dividend ($10,000)

Earnings Attributable to Holders of Common Stock $150,000

Weighted Average Number of Common Stock calculation :

Outstanding common shares 500,000

Therefore,

Basic Earning Per Share (BEPS) = $150,000 ÷ 500,000

= $0.30

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3 years ago

Is it possible to be a copywriter and art director?

mote1985 [20]

Yes if you actually try to become them

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3 years ago

If you buy fewer than 10 pairs of UVex Clear UVExtreme safety eyewear for your employees, the cost is $7.40. But if you buy 10 o

juin [17]

Answer:

quantity discount

Explanation:

A quantity discount is a stimulus rendered to a buyer that brings about a decrease in cost per unit of goods or materials when purchased in greater numbers. A quantity discount is often rendered by sellers to attract customers to purchase in larger quantities.

The seller is able to sell off more goods or materials, and the buyer gets a more better pricing for them. At the consumer level, a quantity discount can appear as a BOGO (buy one, get one discount) or other incentives, such as buy two, get one free.

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3 years ago