All categories

3 years ago

Brahma Supply Company uses a periodic inventory system. During September, the following transactions and events occurred.

Business

1 answer:

Temka [501]3 years ago

4 0

Answer:

Date Account titles & Explanation Debit Credit

Sep 04 Purchases (70 backpacks*$50) $3,500

Accounts payable $3,500

Sep 06 Accounts payable $300

Purchase return and allowances $300

Sept 09 Accounts receivable $1,260

(15 backpacks*$84)

Sales $1,260

Sept 13 Accounts payable $3,200

(64 backpacks*$50)

Purchase discount (3,200*2%) $64

Cash (3,200*98%) $3,136

You might be interested in

On January 1, the first day of its fiscal year, Pretender Company issued $12,700,000 of five-year, 11% bonds to finance its oper

yarga [219]

Answer:

1) Debit Bank $11787069 Debit bond discount $912931 ; Credit Bond $12700000

2) Debit Interest expense $751293 ; Credit Bank $660,000 Credit Discount on Bond payable $91293

3 )Debit interest expense $ 751293 ; Credit bank 660000, Credit discount on bond payable $91293

b)Interest expense = $1502586

c)It is because a financial crisis might have happened prior to issuing the bond and the company still went ahead with issuing even though the rate has changed.

Explanation:

interest expense = 12000000 * 0.11 * 6/12=$660000

discount on bond payable = $912931 /5 = 182586 /2= 91293

Interest expense = $751293 * 2 = $1502586

7 0

3 years ago

Your goal is to withdraw $25,000 in 10 years. To get the money for this withdrawal, you will make the aforementioned five equal

NikAS [45]

Answer:

the interest rate is missing, so I looked for similar questions and found that the semiannual interest rate is 3%.

first of all, we must determine the amount of money that we need to have in our account in order to be able to withdraw $25,000 in 10 years.

You will start making your semiannual deposits today and they will end in exactly 2 years, so we need to find out the present value of the $25,000 in two years:

PV = $25,000 / (1 + 3%)¹⁶ = $15,579.17

that is now the future value of our annuity due:

FV = semiannual deposit x FV annuity due factor (3%, 5 periods)

$15,579.17 = semiannual deposit x 5.46841

semiannual deposit = $15,579.17 / 5.46841 = $2,848.94

7 0

3 years ago

When individuals not involved in the development process are asked to test the game, this is called

liq [111]

Answer:

Game testing

Explanation:

My answer is obvious with the explanation ^^^

7 0

3 years ago

Adam was explaining security procedures to new interns at his firm. It was difficult for the interns to understand what Adam was

RSB [31]

Incomplete question. The options;

A) Incorporate activities that directly involve the audience.

B) Explain how the information will help the audience.

C) Avoid jargon.

D) Compare unfamiliar concepts to familiar concepts.

Answer:

C) Avoid jargon.

Explanation:

Note, the term "jargon" basically refers to the use of highly complex or technical language in communication.

In this scenario, we observed that Adam did not take into consideration that the interns were unfamiliar with the complex terms he was using. Hence, an effective strategy he could have used in the above situation was to totally avoid the use of jargon in his communication with the interns.

5 0

3 years ago

"The type of retirement plan that gives the employer flexibility as to the amount contributed annually is a(n):"

Veseljchak [2.6K]

Answer:

SEP-IRA

Explanation:

It's a retirement savings plan made by employers including people that are self-employed for the benefit of their employees and themselves. The employer may make tax-deducible contributions for certain employees towards their SEP-IRA

4 0

3 years ago