Answer:
The discount will not affect the net income as no gain is recognize nor expense.
the cash flow statemetn will decrease by 3,960 which is the cash used.
the balance sheet after the series of trasnactions, will show inventory for 3,960
Cash would have decrease by 3,960
No change on equity.
Explanation:
inventory 5,000 debit
accounts payable 5,000 credit
account payable 1,000 debit
inventory 1,000 credit
Account payable 4,000 debit
Inventory 40 credit
Cash 3,960 credit
Answer: The correct answer is A. an account.
Explanation: Journal records transactions that have taken place in a particular ledger at a particular period/date and it can be used to correct the ledger balance or mispostings.
A ledger consists of the various accounts of an organization, the changes/movement in those accounts as journals are processed including their balances.
A trial balance consists a list of all the accounts, ledger codes and their balances at a particular time period and the total of all the accounts must be zero in a trial balance.
Although all the four elements: account, journal, ledger and trial balance are all interwoven and have to operate in unison, the definition in the question is for account. An account gives you detailed changes in all the elements of the financial statements.
Answer:
23,130,000 HK
Explanation:
Loan amount taken by sapling = 12,000,000 euros
Loan amount taken by sapling in Dollars at an exchange rate of 9 HK dollars/euros:
= 9 × 12,000,000
= 108,000,000 HK
Amount to be repaid by sapling at i= 1.5%:
= 12,000,000(1 + 0.015)
= 12,180,000 euros
Amount to be repaid by sapling in HK Dollars at an exchange rate of 7.5 HK dollars/euro:
= 7.5 × 12,180,000
= 91,350,000 HK
Amount earned by lending at i = 6%:
= 108,000,000(1 + 0.06) HK
= 114,480,000 HK
Net profit earned = Amount Earned - Amount Repaid
= 114,480,000 HK - 91,350,000 HK
= 23,130,000 HK
Net profit earned in Euros = (23,130,000 ÷ 7.5) euros
= 3,084,000 euros
Answer:
$17.51
The cost per equivalent unit for conversion costs for the first department for the month is closest to: C) $17.51
