I need help with a few accounting questions
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I need help with a few accounting questions
Kathy's Corner Store has total cash sales for...
Accounting help Illinois Bank lends Lisle Furniture Company $70,000 on December 1. Lisle Furniture Company signs...
Accounting help
Illinois Bank lends Lisle Furniture Company $70,000 on December 1. Lisle Furniture Company signs a $70,000, 9%, 4-month note. The total cash paid at maturity of the note is: (Round your final answer to the nearest dollar.) O A. $73,150. O B. $76,300. OC. $72,100 OD. $70,000 Kathy's Corner Store has total cash sales for the month of $37,000 excluding sales taxes. If the sales tax rate is 3%, which journal entry is needed? (Ignore Cost of Goods...
On January 1, 2018, bonds with a face value of $120,000 were sold. The bonds mature on January 1,...
On January 1, 2018, bonds with a face value of $120,000 were sold. The bonds mature on January 1, 2028. The face interest rate is 6%. The bonds pay interest semiannually on July 1 and January 1 . The market rate of interest is 8%. What is the market price of the bonds on January 1 2018? The present value of $1 for 20 periods at 4 is 0.456. The present value of an ordinary annuity of $1 for 20...
On January 1, 2018, bonds with a face value of $78,000 were sold. The bonds mature...
On January 1, 2018, bonds with a face value of $78,000 were sold. The bonds mature on January 1, 2028. The face interest rate is 6%. The bonds pay interest semiannually on July 1 and January 1. The market rate of interest is 12%. What is the market price of the bonds on January 1, 2018? The present value of $1 for 20 periods at 6% is 0.312. The present value of an ordinary annuity of $1 for 20 periods...
Kathy's Corner Store has total cash sales for the month of $32,000 excluding sales taxes. If...
Kathy's Corner Store has total cash sales for the month of $32,000 excluding sales taxes. If the sales tax rate is 5%, which journal entry is needed? (Ignore Cost of Goods Sold.) O A. debit Cash $30,400, debit Sales Tax Receivable for $1,600 and credit Sales Revenue for $32,000 O B. debit Cash $32,000 and credit Sales Revenue $32,000 O C. debit Cash $33,600, credit Sales Revenue $32,000 and credit Sales Tax Payable $1,600 O D. debit Cash $33,600, credit...
1. On January 1, 2018, bonds with a face value of $91,000 were sold. The bonds...
1. On January 1, 2018, bonds with a face value of $91,000 were sold. The bonds mature on January 1, 2028. The face interest rate is 8%. The bonds pay interest semiannually on July 1 and January 1. The market rate of interest is 10%. What is the market price of the bonds on January 1, 2018? The present value of $1 for 20 periods at 5% is 0.377. The present value of an ordinary annuity of $1 for 20...
I need the bottom part done On January 1, 2021, Whispering Co. issued ten-year bonds with...
I need the bottom part done
On January 1, 2021, Whispering Co. issued ten-year bonds with a face value of $4,900,000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Table values are: Present value of 1 for 10 periods at 10% Present value of 1 for 10 periods at 12% Present value of 1 for 20 periods at 5% Present value of 1 for 20 periods...
I am reviewing for an exam and need help with a few questions... Please explain the...
I am reviewing for an exam and need help with a few questions... Please explain the solving process so I could learn properly. 1)On November 10 of the current year, a company provides services on account to a customer for $8,000 with credit terms 2/10, n/30. The customer made the correct payment on November 17. How would the company record the collection of cash on November 17? 2) A company has the following at the end of the year: Inventory ...
You want to invest $20,000 today to accumulate $32,000 for graduate school. If you can invest...
You want to invest $20,000 today to accumulate $32,000 for graduate school. If you can invest at an interest rate of 10% compounded annually. To find how many years will it take to accumulate the required amount, you would search the 10% column in the: O A) present value of $1 table, for the factor closest to 1.6. O B) future value of $1 table, for the factor closest to 1.6. present value of $1 table, for the factor closest...
NO EXPLANATION NECESSARY, just the final answer for 4 MC questions, it would help me tremendously!...
NO EXPLANATION NECESSARY, just the final answer for 4 MC
questions, it would help me tremendously! (thumbs
up)
179 Use the following information about the current year's operations of a company to calculate the cash paid for merchandise. Cost of goods sold Merchandise inventory, January 1 Merchandise inventory, December 31 Accounts payable, January 1 Accounts payable, December 31 $600,000 95,000 117,000 88,000 70,000 Multiple Choice O $560,000 O $695,000 O $640,000 O $622,000 O $618,000. 180 In preparing a company's...
Slate Corner Shoppe is a local convenience store with the following information: (Click the icon to view the informatio...
Slate Corner Shoppe is a local convenience store with the following information: (Click the icon to view the information.) Read the requirements. Requirement 1. Prepare the sales budget for November and December. Slate Corner Shoppe Sales Budget For the Months of November and December November December Cash sales Credit sales Total sales • October sales were $220,000. Sales are projected to go up by 15% in November (from the October sales) and another 30% in December (from the November sales)...
Accounting help
Illinois Bank lends Lisle Furniture Company $70,000 on December 1. Lisle Furniture Company signs a $70,000, 9%, 4-month note. The total cash paid at maturity of the note is: (Round your final answer to the nearest dollar.) O A. $73,150. O B. $76,300. OC. $72,100 OD. $70,000 Kathy's Corner Store has total cash sales for the month of $37,000 excluding sales taxes. If the sales tax rate is 3%, which journal entry is needed? (Ignore Cost of Goods...
On January 1, 2018, bonds with a face value of $120,000 were sold. The bonds mature on January 1, 2028. The face interest rate is 6%. The bonds pay interest semiannually on July 1 and January 1 . The market rate of interest is 8%. What is the market price of the bonds on January 1 2018? The present value of $1 for 20 periods at 4 is 0.456. The present value of an ordinary annuity of $1 for 20...
On January 1, 2018, bonds with a face value of $78,000 were sold. The bonds mature on January 1, 2028. The face interest rate is 6%. The bonds pay interest semiannually on July 1 and January 1. The market rate of interest is 12%. What is the market price of the bonds on January 1, 2018? The present value of $1 for 20 periods at 6% is 0.312. The present value of an ordinary annuity of $1 for 20 periods...
Kathy's Corner Store has total cash sales for the month of $32,000 excluding sales taxes. If the sales tax rate is 5%, which journal entry is needed? (Ignore Cost of Goods Sold.) O A. debit Cash $30,400, debit Sales Tax Receivable for $1,600 and credit Sales Revenue for $32,000 O B. debit Cash $32,000 and credit Sales Revenue $32,000 O C. debit Cash $33,600, credit Sales Revenue $32,000 and credit Sales Tax Payable $1,600 O D. debit Cash $33,600, credit...
I need the bottom part done
On January 1, 2021, Whispering Co. issued ten-year bonds with a face value of $4,900,000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Table values are: Present value of 1 for 10 periods at 10% Present value of 1 for 10 periods at 12% Present value of 1 for 20 periods at 5% Present value of 1 for 20 periods...
You want to invest $20,000 today to accumulate $32,000 for graduate school. If you can invest at an interest rate of 10% compounded annually. To find how many years will it take to accumulate the required amount, you would search the 10% column in the: O A) present value of $1 table, for the factor closest to 1.6. O B) future value of $1 table, for the factor closest to 1.6. present value of $1 table, for the factor closest...
NO EXPLANATION NECESSARY, just the final answer for 4 MC
questions, it would help me tremendously! (thumbs
up)
179 Use the following information about the current year's operations of a company to calculate the cash paid for merchandise. Cost of goods sold Merchandise inventory, January 1 Merchandise inventory, December 31 Accounts payable, January 1 Accounts payable, December 31 $600,000 95,000 117,000 88,000 70,000 Multiple Choice O $560,000 O $695,000 O $640,000 O $622,000 O $618,000. 180 In preparing a company's...
Slate Corner Shoppe is a local convenience store with the following information: (Click the icon to view the information.) Read the requirements. Requirement 1. Prepare the sales budget for November and December. Slate Corner Shoppe Sales Budget For the Months of November and December November December Cash sales Credit sales Total sales • October sales were $220,000. Sales are projected to go up by 15% in November (from the October sales) and another 30% in December (from the November sales)...
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