Homework Answers
Answer is:
Sales Discount will be debited for the amount of discounts taken by the customer.
Explanation
Journal Entry will be
Accounts Receivable A/c Dr.
Sale Discount A/C Dr.
To Sale Revenue.
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Help Save & Exit Submi On Jruary 1 of Year t Congo Express Airways issued S2,500,000...
Help Save & Exit Submi On Jruary 1 of Year t Congo Express Airways issued S2,500,000 of 5% bonds that pay interest semiannually on January 1 and July 1. The bond issue price is 12260000 and market rate of interest for similar bonds is 6% The bond premium or discount is being amortized at a rate of $8,000 every six months. After accruing interest at year end, the company's December 31, Year 1 balance sheet should reflect total liabilities associated...
Quiz 4 - Chapter 6 Saved Help Save & Exit Submit Which of the following statements regarding interest tax shield...
Quiz 4 - Chapter 6 Saved Help Save & Exit Submit Which of the following statements regarding interest tax shields is correct? Multiple Choice Ο Taxes are reduced by the amount of a firm's interest-bearing debt. Ο Taxable income is reduced by the amount of a firm's interest-bearing debt. Ο Taxes are reduced by the amount of the interest on a firm's debt. Ο Taxable income is reduced by the amount of the interest on a firm's debt.
help chapter 7 accounting homework!! jork Saved Help Save & Exit Submi Check my work Samson...
help chapter 7 accounting homework!!
jork Saved Help Save & Exit Submi Check my work Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April 30, 2021, the company transferred $890,000 of accounts receivable to Milpitas. The transfer was made without recourse. Milpitas remits 90% of the factored amount and retains 10%. When Milpitas collects the receivables, it remits to Samson the retained amount less a 4% fee (4% of the total factored amount)....
ter 1 Homework #3 Help Save & Exit Submi Check my work 0 Required information The...
ter 1 Homework #3 Help Save & Exit Submi Check my work 0 Required information The Foundational 15 [L01.1, LO1-2, LO1.3, LO14, LOIS, LOI-6] The following information applies to the questions displayed belowJ Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 of 15 units, its average costs per unit are as follows: Average Cost Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed Sales commissions...
0 AA a new newconnect.mheducation.com Mathway | Algebra Problem Solver Chapter 7 Quiz Quiz o Help...
0 AA a new newconnect.mheducation.com Mathway | Algebra Problem Solver Chapter 7 Quiz Quiz o Help Save & Exit Subm Miscavage Corporation has two divisions: the Beta Division and the Alpha Division. The Beta Division has sales of $305,000, variable expenses of $153,600, and traceable fixed expenses of $70,800. The Alpha Division has sales of $615,000, variable expenses of $337,800, and traceable fixed expenses of $132.700. The total amount of common fixed expenses not traceable to the individual divisions is...
Quiz Chapter 12 Saved Help Save & Exit Submit Check my work N. You are evaluating...
Quiz Chapter 12 Saved Help Save & Exit Submit Check my work N. You are evaluating two different cookie-baking ovens, The Pillsbury 707 costs $59,500, has a 5-year life, and has an annual OCF (after- tax) of -$10,500 per year. The Keebler Cookie Munster costs $92,500, has a 7-year life, and has an annual OCF (after-tax) of -58,500 per year eBook If your discount rate is 13 percent, what is each machine's EAC? (Negative amounts should be indicated by a...
Chapter Four Homework Help Save & Exit Submit Check my work 1. Service Revenue for the...
Chapter Four Homework Help Save & Exit Submit Check my work 1. Service Revenue for the year = $83.000. Of this amount, $71.500 is collected during the year and $11,500 is expected to be collected next year. 2. Salaries Expense for the year = $43,000. of this amount. $36,500 is paid during the year and $6.500 is expected to be paid next year. points 3. Advertising Expense for the year = $11,500. All of this amount is paid during the...
Chapter 7 Saved Help Save & Exit Submit lan is going to receive $20,000 six years...
Chapter 7 Saved Help Save & Exit Submit lan is going to receive $20,000 six years from now. Sunny is going to receive $20,000 nine years from now. Which one of the following statements is correct if both lan and Sunny apply a 7-percent discount rate to these amounts? Multiple Choice 0 The present values of lan and Sunny's monies are equal. 0 In future dollars, Sunny's money is worth more than lan's money. 0 In today's dollars, lan's money...
please answer. thanks s 6-10 Saved Help Save & Exit Submi Check my work Lindon Company...
please answer. thanks
s 6-10 Saved Help Save & Exit Submi Check my work Lindon Company is the exclusive distributor for an automotive product that sells for $52.00 per unit and has a CM ratio of 30%. The company's fixed expenses are $366,600 per year. The company plans to sell 27,900 units this year. Required: 1. What are the variable expenses per unit? (Round your "per unit" answer to 2 decimal places.) 2. What is the break-even point in unit...
Quiz 3 i Saved Help Save & Exit 4 Required information The following information applies to...
Quiz 3 i Saved Help Save & Exit 4 Required information The following information applies to the questions displayed below.] The following transactions occurred during July Received $1.500 cash for services performed during July 2. Received $7.450 cash from the issuance of common stock to owners. 3. Received $750 from a customer as payment for services performed during June 4. Billed $4.550 to customers for services performed on account in July 5. Borrowed $3,200 from the bank and signed a...
Help Save & Exit Submi On Jruary 1 of Year t Congo Express Airways issued S2,500,000 of 5% bonds that pay interest semiannually on January 1 and July 1. The bond issue price is 12260000 and market rate of interest for similar bonds is 6% The bond premium or discount is being amortized at a rate of $8,000 every six months. After accruing interest at year end, the company's December 31, Year 1 balance sheet should reflect total liabilities associated...
Quiz 4 - Chapter 6 Saved Help Save & Exit Submit Which of the following statements regarding interest tax shields is correct? Multiple Choice Ο Taxes are reduced by the amount of a firm's interest-bearing debt. Ο Taxable income is reduced by the amount of a firm's interest-bearing debt. Ο Taxes are reduced by the amount of the interest on a firm's debt. Ο Taxable income is reduced by the amount of the interest on a firm's debt.
help chapter 7 accounting homework!!
jork Saved Help Save & Exit Submi Check my work Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April 30, 2021, the company transferred $890,000 of accounts receivable to Milpitas. The transfer was made without recourse. Milpitas remits 90% of the factored amount and retains 10%. When Milpitas collects the receivables, it remits to Samson the retained amount less a 4% fee (4% of the total factored amount)....
ter 1 Homework #3 Help Save & Exit Submi Check my work 0 Required information The Foundational 15 [L01.1, LO1-2, LO1.3, LO14, LOIS, LOI-6] The following information applies to the questions displayed belowJ Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 of 15 units, its average costs per unit are as follows: Average Cost Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed Sales commissions...
0 AA a new newconnect.mheducation.com Mathway | Algebra Problem Solver Chapter 7 Quiz Quiz o Help Save & Exit Subm Miscavage Corporation has two divisions: the Beta Division and the Alpha Division. The Beta Division has sales of $305,000, variable expenses of $153,600, and traceable fixed expenses of $70,800. The Alpha Division has sales of $615,000, variable expenses of $337,800, and traceable fixed expenses of $132.700. The total amount of common fixed expenses not traceable to the individual divisions is...
Quiz Chapter 12 Saved Help Save & Exit Submit Check my work N. You are evaluating two different cookie-baking ovens, The Pillsbury 707 costs $59,500, has a 5-year life, and has an annual OCF (after- tax) of -$10,500 per year. The Keebler Cookie Munster costs $92,500, has a 7-year life, and has an annual OCF (after-tax) of -58,500 per year eBook If your discount rate is 13 percent, what is each machine's EAC? (Negative amounts should be indicated by a...
Chapter Four Homework Help Save & Exit Submit Check my work 1. Service Revenue for the year = $83.000. Of this amount, $71.500 is collected during the year and $11,500 is expected to be collected next year. 2. Salaries Expense for the year = $43,000. of this amount. $36,500 is paid during the year and $6.500 is expected to be paid next year. points 3. Advertising Expense for the year = $11,500. All of this amount is paid during the...
Chapter 7 Saved Help Save & Exit Submit lan is going to receive $20,000 six years from now. Sunny is going to receive $20,000 nine years from now. Which one of the following statements is correct if both lan and Sunny apply a 7-percent discount rate to these amounts? Multiple Choice 0 The present values of lan and Sunny's monies are equal. 0 In future dollars, Sunny's money is worth more than lan's money. 0 In today's dollars, lan's money...
please answer. thanks
s 6-10 Saved Help Save & Exit Submi Check my work Lindon Company is the exclusive distributor for an automotive product that sells for $52.00 per unit and has a CM ratio of 30%. The company's fixed expenses are $366,600 per year. The company plans to sell 27,900 units this year. Required: 1. What are the variable expenses per unit? (Round your "per unit" answer to 2 decimal places.) 2. What is the break-even point in unit...
Quiz 3 i Saved Help Save & Exit 4 Required information The following information applies to the questions displayed below.] The following transactions occurred during July Received $1.500 cash for services performed during July 2. Received $7.450 cash from the issuance of common stock to owners. 3. Received $750 from a customer as payment for services performed during June 4. Billed $4.550 to customers for services performed on account in July 5. Borrowed $3,200 from the bank and signed a...
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