Answer:
Explanation:
using the following formulars
Net purchase = (Gross Purchase) - (purchase return) - (purchase discount) + freight-in
Beginning inventory + Net purchases = cost of goods available for sales
Cost of goods sold = cost of goods available for sale - ending inventory
for 2013 we have that
beginning inventory = cost of goods available for sale - net purchases
Net purchases = 630 - 24 - 18 + 13 = 601
2013, beginning inventory = 876- 601 = 275
Ending inventory = 876 - 627 = 249
2014,
Begning inventory = closing inventory of 2013 = 249
Cost of goods available for sale = 621 + 225 = 846
Net purchase -Cost of goods available for sale - beginning inventory = 846 - 249 = 597
Gross purchase = 597 + 15 + 30 - 32 = 610
2015
Cost of good sold = 800 - 216 = 784
Net purchase = 800 - 225 = 575
purchase discount = 585 -575 - 14 + 16 = 12
Answer:
Commercial banks, required reserve, loans, deposits, create.
Explanation:
The main function of commercial banks is to accept deposits and then to lend the same money (minus required reserves) back out. Banks make a profit by charging a higher interest rate on loans than the interest rate they pay on deposits. Through the loan process, banks are actually able to create money.
The major function of commercial banks is
1. Accepting deposits from people and business organzations.
2. Giving loans to Customers to be paid at a specific period of time at an agreed interest rate.
Required reserve is the minimum amount of money which in required for a commercial Bank to hold/save out of every deposit. If the required reserve is 10% of every deposit, a customer customer deposited $100. The required will be $10 which the bank will hold. The remaining $90 is the balance which banks can loan out to Customers.
Commercial Banks make profit by charging a higher interest rate on loan and lower interest rate on deposits. For example: 7.5% interest rate on loan and 2.5% interest rate on deposits. The 5% difference is the bank Profit.
Answer:
Entry is given below
Explanation:
As Givens brick company is paying off the liability of note payable and the interest amount therefore, it will be debited as it is a decrease in liability. Cash will be credited as it is our asset and its decreasing.
Entry DEBIT CREDIT
Notes payable $600,000
Interest $36,000(w)
Cash $636,000
Working
Interest = $600,000 x 8% x9/12
Interest = $36,000
Answer:
$1,282.80
Explanation:
The PMT formula is used for this question. The attachment is shown below:
The NPER shows the time period
Given that,
Present value = $300,000 - $30000 = $270,000
Future value = $0
Rate of interest = 4% ÷ 12 months = 0.33%
NPER = 30 years × 12 months = 360 months
The formula is shown below:
= PMT(Rate;NPER;-PV;FV;type)
The present value come in negative
So, after solving this, the answer is $1,282.80
- Companies buyback shares for a variety of reasons, including firm consolidation, increased equity value, and to appear more financially appealing.
-The disadvantage of buybacks is that they are frequently financed with debt, putting a burden on cash flow.
-Stock repurchases can have a modestly favorable impact on the economy as a whole.
