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Jax Recording Studio purchased $7,800 in electronic components from Music World. Jax signed a 60-day, 8% promissory note for $7,

Lostsunrise [7]

Answer:

Interest revenue = $7800*8%/360*60

Interest revenue = $104

Date Journal Entry Debit Credit

Cash $7,904

Notes Receivable $7,800

Interest Revenue $104

5 0

2 years ago

Project S has a cost of $11,000 and is expected to produce benefits (cash flows) of $3,400 per year for 5 years. Project L costs

Kipish [7]

Answer:

Project S = $672.48

Project L = $11,500

Explanation:

Net Present Value (NPV) Is Calculated by Taking the Present day (Discounted) Value of all future Net Cash flows based on the Business Cost of Capital and Subtracting the Initial Cost of the Investment.

Using a Financial Calculator NPV calculations will be as follows:

Project S

CF0 = ( $11,000)

CF1 = $3,400

CF2 = $3,400

CF3 = $3,400

CF4 = $3,400

CF5 = $3,400

i = 14 %

NPV = $672.48

Project L

CF0 = ( $23,000)

CF1 = $6,900

CF2 = $6,900

CF3 = $6,900

CF4 = $6,900

CF5 = $6,900

i = 14 %

NPV = $11,500.

5 0

3 years ago

now suppose that the government immediately pursues an accommodative policy by increasing government purchases in response to th

alisha [4.7K]

now suppose that the government immediately pursues an accommodative policy by increasing government purchases in response to the short run economic impact of the higher oil prices <u>The output will be $billion and the price level will increase.</u>

<h3>What is accommodative policy?</h3>

When a central bank (like the Federal Reserve) tries to increase the general money supply to support the economy when growth is stalling, this is known as accommodating monetary policy, often known as loose credit or easy monetary policy (as measured by GDP). The goal of the policy is to allow the money supply to increase in step with both the demand for money and national revenue.

The expansion of the money supply by central banks to stimulate the economy is known as accommodating monetary policy.
The Federal funds rate has been decreased as part of monetary policies that are deemed accommodating.
The goals of these policies are to lower the cost of borrowing money and boost consumer spending.

To learn more about accommodative policy from the given link:

brainly.com/question/14245561

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4 0

1 year ago

In order to compute equivalent units of production using the FIFO method of process costing, work for the period must be broken

Artist 52 [7]

Answer:

The correct option here is C) units in the beginning work in progress period which were completed , units which were started and completed, and units in ending work in progress.

Explanation:

FIFO ( First in first out ) method is used to take out the cost per unit when doing process costing, in this method it is assumed that the inventory which were not finished during the beginning of period would be first completed and then new shall be started.

To take out the equivalent cost per unit under the FIFO method we will add the units which were completed in the beginning plus units which were started and completed during the period and plus the units which are left in ending work in progress.

5 0

3 years ago

McGill and Smyth have capital balances on January 1 of $56,000 and $36,000, respectively. The partnership income-sharing agreeme

Step2247 [10]

Answer: capital accounts distribution

DETAILS McGill Smyth total remaining

opening balance $56000 $36000

net income $90000 $90000

salaries $24000 $12000 -$36000 $54000

interest @ 10% $5600 $3600 -$9200 $44800

Profit share 70 : 30% $31360 $13440 -$44800 $0

closing balance $116960 $65040

DETAILS McGill Smyth total remaining

opening balance $56000 $36000

net income $30000 $30000

salaries $24000 $12000 -$36000 - $6000

interest @ 10% $5600 $3600 -$9200 -$15200

loss share 70 : 30% -$10640 -$4560 +$15200 $0

closing balance $74960 $47040

JOURNAL ENTRIES

1 . Debit partnership summary income account $90000, credit capital accounts McGILL ; salary 24000, interest on capital 5600, profit share 31360. Symth ; salary 12000, interest on capital 3600, profit share 13440

2 . Debit Partnership summary income account 30000 , credit Capital accounts McGill : salary 24000 , Smyth : 12000 , Interest on capital account McGill : 5600, Smyth 3600.

for loss sharing journal

Debit Capital accounts McGILL 10640, Smyth 4560 , Credit partnership summary account 15200

Explanation:

6 0

3 years ago

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