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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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Compute the discounted payback period for a project with the following cash flows received uniformly within each year and with a
Alex Ar [27]

The discounted payback period for the project is 2.33 years.

Time  Cashflow PVF at 8% Present value  Cumulative Present value

0           -$100            1                 -100                          -100

1                40       0.925926     37.03704                   -62.963

<u><em>2              50        0.857339      42.86694                  -20.096</em></u>

3               60       0.793832      47.62993                   27.53391

<u>Note</u>

  • The PVF for each year are derived using the PVF calculator (i.e PVF, 8%, 0 years)
  • We can also observe that we are able to payback the money before the entire 3rd year, therefore, the 2nd year will be used in calculation of discounted payback period.

Discounted payback period = 2 Years + 20.096/47.6299

Discounted payback period = 2 Years + 0.33

Discounted payback period = 2.33 years.

Therefore, the discounted payback period for the project is 2.33 years.

Missing word includes <em>"Compute the discounted payback period for a project with the following cash flows received uniformly within each year and with a required return of 8%: Initial Outlay = $100 Cash Flows: Year 1 = $40 Year 2 = $50 Year 3 = $60"</em>

See similar solution here

<em>brainly.com/question/13247540</em>

3 0
2 years ago
A machine with a cost of $130,000 and accumulated depreciation of $85,000 is sold for $40,000 cash. The amount of the loss relat
sladkih [1.3K]

Answer: About $50,000

Explanation:

6 0
3 years ago
The advanced machinery used for limestone quarrying in a particular region leads to noise pollution and affects the hearing abil
Tanzania [10]

Answer:

A. Recent environmental research reveals that the dust from the limestone quarrying site has severely contaminated the water at a nearby lake.

Explanation:

The limestone production results in huge social effects like, noise pollution, soil pollution, which affects lives of people. And since the manufacturers or producers of limestone do not care about the social results of such production, they shall be liable to pay huge taxes.

As for this, the cause as stated in statement A is absolutely suitable.

Also the prices are more in this area even after so much of social destruction.

Accordingly high taxes as a penalty for such social destruction shall be charged.

4 0
4 years ago
Stanley Inc. must purchase $6,000,000 worth of service equipment and is weighing the merits of leasing the equipment or purchasi
slega [8]

Answer:

$207,215

Explanation:

Loan Payment :

5 years, Loan = $6,000,000, Interest rate = 10%, Each payment = $1,790,000

using a financial calculator, N = 5, 1/Y = 10%, PV = - 6,000,000, FV = 0,

Calculating, PMT = $1,582,725

Therefore, difference = $1,790,000 - $1,582,725 = $207,215

8 0
3 years ago
The term _____ can be used to refer to the totality of a firm's organization, includingits organizational structure, control sys
melamori03 [73]

Answer:

B. organization architecture

Explanation:

Organization architecture refers to one of the most comprehensive terms in organizational sciences. It includes a thorough organizational structure with defined roles and processes, taking into consideration the human capital. Also, it describes the existing control mechanisms that ensure that processes are well maintained, as well as the incentives that drive motivation and set organizational goals.

8 0
3 years ago
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