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Fofino [41]
2 years ago
6

coolidge Company owes $1,000 for merchandise inventory purchased from Ross Company during April. The amount owed is now past-due

. On June 15, Coolidge meets with Ross and convinces Ross to accept $400 cash and a 30-day, 10 percent, $600 note payable to replace the account payable. Prepare the June 15 journal entry for Coolidge entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Business
1 answer:
erastova [34]2 years ago
5 0

Answer:

June 15

Dr Accounts payable $1,000

Cr Cash $400

Cr Notes Payable $600

Explanation:

Preparation of the June 15 journal entry for Coolidge

Based on the information given the June 15 journal entry for Coolidge will be :

June 15

Dr Accounts payable $1,000

Cr Cash $400

Cr Notes Payable $600

(Being to record amount payable )

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Markets always allocate resources in ways that meet ideal economic efficiency.
Virty [35]

Answer:

False. Markets can sometimes fail to reach efficiencies when there are externalities, public goods, monopoly, or serious information asymmetries

Explanation:

Invisible hand (effective allocation of resources in a laissez faire economy) sometimes works because when market function effectively and send correct price as signal of values (to society) to producers.

However, when goods can't be traded on markets (public goods) or its values are not correctly reflected on markets (externalities, information asymmetries) or competition is not ensured (monopoly), markets cannot ensure effective allocation of resources.

5 0
3 years ago
Pollution control equipment for a pulverized coal cyclone furnace is expected to cost $190,000 two years from now and another $1
alexandr1967 [171]

Answer:

$212,882.75

Explanation:

Cost from 2 years now = $190,000

Cost from 9 years now = $120,000

Interest rate = 9% Quarterly

Present Worth = Cost from 2 years now*[1/(1+interest/m)^nm] * Cost from 2 years now*[1/(1+interest/m)^nm]

Present Worth = 190,000*[1/(1+0.09/4)^2*4] + 120,000*[1/(1+0.09/4)^9*4]

Present Worth = 190,000*[1/(1.0225)^8] + 120,000*[1/(1.0225)^36]

Present Worth = 190,000*[1/1.19483] + 120,000*[1/2.22782]

Present Worth = 190,000*0.83693915 + 120,000*0.4488693

Present Worth = 159018.4385 + 53864.316

Present Worth = 212882.7545

Present Worth = $212,882.75

Thus, the amount to invest to cover these cost is $212,882.75

5 0
2 years ago
Suppose Susan from USA works for a multinational company and has just arrived in a remote country in Africa for her work assignm
jolli1 [7]

Answer:

Ethnocentrism

Explanation:

I wish everyone in this little country just spoke English like the rest of the civilized world

this behavior is example of Ethnocentrism because

when we judge other culture on the basis of preconceptions that is found in the value and standard of own culture

and these are regarding of religion , behavior and language and customs etc

so here we can say Susan’s behavior is an example of Ethnocentrism

so correct option is C. Ethnocentrism

4 0
3 years ago
Melinda, who works in a jewelry store owned by Cindy, was picking up some gem stones for use in the store. On the way back to th
baherus [9]
Yes she should be held liable
6 0
2 years ago
What style of leadership is grounded in the exchange relationship between the leader and the follower
Annette [7]

Answer: Transactional leadership

Explanation:

Transactional leadership a style of leadership that grounded in the exchange relationship between the leader and the follower.

For transactional Leadership, promotion of compliance is done through both rewards and punishment.

7 0
3 years ago
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