Answer:
$24,990
Explanation:
2/15 net 45 means that if the customer pays within the period of 15 days, he will get the discount of 2% of invoice amount, otherwise he has to pay the whole amount of invoice within the period of 45 days.
In the given scenario, since the Pound Co. has paid the invoice within the discount period, so therefore, the Pound Co. has availed the discount of 2% and accordingly the sales amount shall be recorded as follows:
Sales amount=Invoice amount*98%
=$25,500*98%
=$24,990
Answer: Law of demand
Explanation:
The law of demand is defined as when the quantity an the price of the products and the services are increased then the demand the the similar products get decreased as it is inversely proportional with each other.
The other factors or the conditional are become equal or constant and this is also known as the elastic demand. The law of demand is refers to the relationship between price and the quantity of products in the market.
Therefore, Law of demand is the correct answer.
Answer:
Dr Accumulated depreciation-Machinery 28,000
Dr Loss on disposal 1000
Cr Cash 1000
Cr Machinery 28,000
Explanation:
Based on the information given the appropriate journal entry to record the transaction on On January 2 is :
On January 2
Dr Accumulated depreciation-Machinery 28,000
Dr Loss on disposal 1000
Cr Cash 1000
Cr Machinery 28,000
Answer:
After tax cost of bond= 7%
Explanation:
In order to find the after tax cost of bond we need to know its pre tax cost of debt. The yield on a bond is its pre tax cost. In this question we are already given the yield which is 10%. This means that the pre tax cost of debt is 10%. Now in order to find the after tax cost of debt we will multiply the pre tax cost of debt by (1-tax Rate)
After tax cost of bond= 0.1*(1-0.3)= 0.07= 7%
D.) Short Term; Unsecured
B.) Medium Term; Mortgage backed
