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Pani-rosa [81]
3 years ago
5

This information relates to Pharoah Co..

Business
1 answer:
monitta3 years ago
5 0

Answer and Explanation:

The journal entries are shown below:

On April 5

Inventory Dr $28,600.00  

     To Accounts payable  $28,600.00

(Being purchase of inventory on account is recorded)

On April 6  

Inventory Dr $580.00  

      To Cash  $580.00

(Being freight payment is recorded)  

On April 7

Equipment Dr $32,000.00  

      To Accounts payable  $32,000.00

(Being purchase of equipment is recorded)  

On April 8

Accounts payable Dr $3,500.00  

      To Inventory  $3,500.00

(Being purchase returns is recorded)  

On April 15

Accounts payable Dr $25,100.00 ($28,600- $3,500)  

      To Cash  $24,096.00

      To Inventory  $1,004.00 ($25,100 × 4%)

(Being payment to the supplier is recorded)  

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A company had stock outstanding as follows during each of its first three years of operations: 2,500 shares of 10%, $100 par, cu
ad-work [718]

Answer:

See the attached photo for the completed the schedule.

Explanation:

Note: See the attached photo for the completed the schedule.

In the attach excel file, the following formulae and calculations are used:

Peferred stock dividend per share = Total cumulative preferred stock dividend paid in a year / Number of cumulative preferred shares

Common stock dividend per share = Total common stock dividend paid in a year / Number of common shares

Total cumulative preferred stock dividend = Number of cumulative preferred stock * Par value * Dividend rate = 2,500 * $100 * 10% =  2,500 * $100 * 10% = $25,000

Outstanding cumulative preferred stock dividend in Year 1 = Total cumulative preferred stock dividend - Total cumulative preferred stock dividend paid in Year 1 = $25,000 - $10,000 = $15,000

Outstanding cumulative preferred stock dividend in Year 2 = Outstanding cumulative preferred stock dividend in Year 1 = $15,000

Total cumulative preferred stock dividend paid in Year 3 = Total cumulative preferred stock dividend + Outstanding cumulative preferred stock dividend in Year 2 = $25,000 + $15,000 = $40,000

Total common stock dividend paid in Year 3 = Dividend distributed in Year 3 - Total cumulative preferred stock dividend paid in Year 3 = $60,000 - $40,000 = $20,000

6 0
3 years ago
Which tasks are common to all Energy pathways?
Gennadij [26K]
Performing calculations and using equipment
5 0
3 years ago
Which of the following companies is most likely to have a negative Cash Conversion Cycle?
Veseljchak [2.6K]

Answer:

a) A discount retailer

Explanation:

The formula to determine the cash conversion cycle is shown below:

Cash Conversion Cycle = days inventory outstanding + days sales outstanding - days payables outstanding.

So as per the given situation, the first option i.e. discount retailer should have the negative cash conversion cycle as in other options it created the positive impact

So the option a is correct

3 0
2 years ago
What factors in society have promoted careers in early childhood?
Elena L [17]
The factors in society are all around us and them.
As corny as it might sound but the early promoted careers all are because the parents and the teachers and the community.
6 0
3 years ago
1. The car dealer is offering a promotion on a new that the buyer pays zero interest over 72 months. The monthly payment is $350
inessss [21]

Answer:

selling price of this car is $22700  

Explanation:

given data

zero interest = 72 months

monthly payment = $350

market interest rate = 3.5% per year = 0.2917 % per month

time = 6 year = 72 months

solution

we get here present value of annuity that is

present value  annuity  = ( 0.2917 % per month , 72 months )

present value  annuity  =  64.8568

so here selling price of car is

selling price = monthly payment ×  present value  annuity  ............1

selling price = $350 × 64.8568

selling price = $22700

so selling price of this car is $22700  

8 0
3 years ago
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