When there is a break in an electric tools insulation or wiring the tools metal may become what

On October 1, Robertson Company sold inventory in the amount of $5,800 to Alberta, Inc. with credit terms of 2/10, n/30. The cos

NeTakaya

Answer:

Option (d) is correct.

Explanation:

Given that,

Inventory sold to Alberta, Inc. on account = $5,800

Cost of goods sold = $4,000

The journal entries are as follows:

(i) On October 1,

Accounts receivable A/c Dr. $5,800

To sales A/c $5,800

(To record the credit sale of inventory)

(ii) On October 1,

Cost of goods sold A/c Dr. $4,000

To Merchandise inventory A/c $4,000

(To record the cost of goods sold)

4 0

3 years ago

Heinrich chemical corporation holds an annual meeting in which it invites all individuals who hold shares in the company. the oc

nika2105 [10]

Answer:

In this scenario, the "common stockholders" of the company take part in the voting process.

Explanation:

Common stockholders have right to vote and they can generally vote about the matters of corporate policy, which also includes decisions about how to make the board of directors, starting corporate activities and what changes are made in the company's operations.

8 0

3 years ago

Martinez Furniture Company started construction of a combination office and warehouse building for its own use at an estimated c

baherus [9]

Answer:

$530,672

Explanation:

Base on the scenario been described in the question, we can use the following method to compute the avoidable interest on this project

Use the attached file below to find the solution to given problem .

3 0

3 years ago

Crane Company purchased equipment on January 1 at a list price of $120000, with credit terms 4/10, n/30. Payment was made within

Brrunno [24]

Answer:

The cost of equipment = $127,650

Explanation:

According to International Accounting Standards (IAS) 16, property plants and equipment, the cost of land includes all of the cost necessary to bring and make it ready for the intended use.

These costs include purchase cost, fees and commission associated with the purchase transaction.

Here in this question the installation charges, sales taxes and the cost of concrete slab all fall within the definition of IAS 16

The quotation 4/10, n/30 implies that if payment is made within =10 days, Crane would get 4% off the initial purchase price.

Since the payment was made within the discounted period, the net purchase price would be

Purchase price = 120,000 - (4%× 120,000)= 115,200

The cost of equipment = 115,200 +4,750 + 2,100 + 5600= 127650

The cost of equipment = $127,650

4 0

3 years ago

Reddick Enterprises' stock currently sells for $35.50 per share. The dividend is projected to increase at a constant rate of 5.5

Shalnov [3]

Answer:

E. $41.69

Explanation:

We know,

Value of stock ( $P_{0}$ ) = $\frac{D_{1}}{k_{s} - g}$ [In case of constant growth model]

$D_{1}$ = Next year or expected dividend

$k_{s}$ = required rate of return

g = growth rate = 5.50%

However, as there is no information regarding expected dividend, we will use the alternative formula to calculate the stock's expected price 3 years from today.

$P_{3}$ = $P_{0}$ × $(1 + g)^{3}$

Here, current stock price, $P_{0}$ = $35.50

Therefore, $P_{3}$ = $35.50 × $(1 + 0.0550)^{3}$

$P_{3}$ = $35.50 × 1.1742

Stock's expected price 3 years from now = $41.69 (rounded to two decimal places)

Therefore, option E is the answer.

4 0

3 years ago