Answer:
Petty Cash is debited for $200; Cash is credited for $200
Explanation:
Based on the information given in a situation were they decided to create a petty cash fund in which it was estimated that the amount of $200 would be needed in the petty cash fund which means that the correct journal entry to create the account is to DEBIT Petty Cash with the amount of $200 and to CREDIT Cash with the amount of $200.
Petty Cash is debited for $200
Cash is credited for $200
Answer:
The current stock price of Jersey Kids Corp in 2021 is expected to be $39.02.
Explanation:
The current stock price of Jersey Kids Corp in 2021 can be calculated using the formula for the dividend discount model as follows:
P2021 = D2022 / (r - g) ............................ (1)
Where,
P2021 = current stock price in 2021 = ?
D2020 = Annual dividends per share paid in 2020 = $3.00
D2021 = Annual dividends per share paid in 2021 = D2020 * (1 + g) = $3 * (1 + 0.02) = $3.06
D2022 = Annual dividends per share paid in 2022 = D2021 * (1 + g) = $3.06 * (1 + 0.02) = $3.1212
r = required return = 10%. or 0.10
g = growth rate = 2% = 0.02
Substituting the values into equation (2), we have:
P2021 = $3.1212 / (0.10 - 0.02)
P2021 = $3.1212 / 0.08
P2021 = $39.02
Therefore, the current stock price of Jersey Kids Corp in 2021 is expected to be $39.02.
Answer:
A. The value of the marginal product of apple pickers increases
B. The equilibrium price of apples increases.
F. The wage of apple pickers increases.
Explanation:
- In order to keep the healthcare costs low and increase the health care benefits of the people president proposed the apple a day law. Demand for the apples increase as and the equilibrium price of the apples also increases.
- There are no changes in the marginal producers of the apples. The values of the marginal producers of the apple increases. Demand for the apple pickers also increases along with the daily wages.
Answer:
Operating lease
Explanation:
An operating lease is basically a lease contract that allows the lessee to use the assets but it doesn't transfer any ownership rights. It is like renting a house, you can use it as long as pay the rent, but the house isn't yours. Operating leases are not included in the balance sheet, while financial leases are.
In this case, Star Company may use the copy machines but it must return them in three years.
Answer:
D. $686
Explanation:
Given that
Credit sale = 750
Return = 50
Terms 2/10
Amount received in full therefore,
= [(750 - 50) - (750 - 50 {2%})]
= 700 - (700 × 0.02)
= 700 - 14
= $686
