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2 years ago

Newell Company completed the following transactions in October:

Business

1 answer:

olasank [31]2 years ago

7 0

Answer:

a. Cash receive on Oct. 8 = $588

b. Cash receive on Oct. 16 = $1,261

c. Cash receive on Oct. 29 = $4,000

d. Cash receive on Oct. 27 = $1,176

e. Cash receive on Oct. 28 = $1,862

Explanation:

a. Oct. 8

Since cash was received within 10 days, it qualified for the stated 2% discount. Therefore, we have:

Cash receive on Oct. 8 = $600 - ($600 * 2%) = $588

b. Oct. 16

Since cash was received within 10 days, it qualified for the stated 3% discount. Therefore, we have:

Cash receive on Oct. 16 = ($1,700 - $400) - (($1,700 - $400) * 3%) = $1,261

c. Oct. 29

Since cash was received outside 10 days, it was NOT qualified for the stated 1% discount. Therefore, we have:

Cash receive on Oct. 29 = $5,000 - $1,000 = $4,000

d. Oct. 27

Since cash was received within 10 days, it qualified for the stated 2% discount. Therefore, we have:

Cash receive on Oct. 27 = ($1,400 - $200) - (($1,400 - $200) * 2%) = $1,176

e. Oct. 28

Since cash was received within 10 days, it qualified for the stated 2% discount. Therefore, we have:

Cash receive on Oct. 28 = ($2,300 - $400) - (($2,300 - $400) * 2%) = $1,862

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Answer:

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Explanation:

1: Calculation for the effect of the lease on Café Med's earnings for the first year

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Answer:

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