Answer:
Dagwood bonds receivables 300,000 debit
Cash 300,000 credit
--to record purchase of bonds--
Interest receivables 18,000 debit
Interest revenue 18,000 credit
--to record accrued interest on dagwood bonds--
Cash 18,000 debit
Interest receivables 18,000 credit
--to record collection of interest--
Explanation:
as the bonds are purchased at par we pay for the same as the face value
interest for the year
principal x rate
300,000 x 6% = 18,000
at December 31th the interest are receivables as we didn't collect the cash yet
Then, on january first, we receive the cash and write-off the receivables
The correct answer is information levels. It is because as
Ben works at the top accounting firm, he has responsibilities of developing the
individuals and departmental goals, and as well as generating financial
analysis by which these duties are likely to provide value add to their company
and it categorized as different information levels.
Answer:
$ 97,900
Explanation:
ASSETS = LIABILITIES + OWNERS CAPITAL ( Equity)
Answer:
The amount of $71,760 , is offered by the company for the stadium naming rights.
Explanation:
As the total cost for the sponsorship is $78,000 but the cost has 8% revenue for the naming sponsorship. Therefore,
= Amount × % of revenue
= $78,000 × 8%
= $6,240
In order to compute the amount which is offered to pay for the stadium rights, the revenue amount to be deducted from the administrative cost:
= Cost - Revenue
= $78,000 - $6,240
= $71,760
Answer:
The amount should Tamarisk report as its December 31 inventory is $252,000
Explanation:
The computation of the ending inventory is shown below:
= Stock on hand + goods purchased from Sheffield Corp + goods sold to Wild horse Co.
= $190,000 + $29,000 + $33,000
= $252,000
We considered all the amounts which are given in the question i.e FOB destination and FOB shipping point which is added to the physical inventory on hand.
