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Ulleksa [173]
2 years ago
6

Lowe's is the second-largest home improvement retailer in the world, with 2,002 stores. During its fiscal year ended in February

2019, Lowe's purchased merchandise inventory at a cost of $49,569 ($ millions). Assume all purchases were made on account and accounts payable is only used for inventory purchases. The following T-accounts reflect information contained in the company's February 2018 and 2019 balance sheets. Merchandise Inventories Feb. 2018 Bal. 8,911 Feb. 2019 Bal. 9,458 Accounts Payable 5,124 Feb. 2018 Bal. 5,633 Feb. 2019 Bal. a. Use the financial statement effects template to record Lowe's purchases during fiscal year ended February 2019. Use a negative sign with answers, if appropriate. Balance Sheet Income Statement Transaction Cash Asset Noncash Assets
Business
1 answer:
34kurt2 years ago
4 0

The financial statement effects template records Lowe's purchases for the fiscal year ended February 28, 2019 as follows:

Transaction        Assets                       =   Liabilities   +   Equity

Purchases          $0       +   $49,569    =   $49,569     +    $0

                          Inventory                         Accounts Payable

The accounts equally affected by the purchases on account are the Inventory and the Accounts Payable.

Data Analysis:

Merchandise Inventory $49,569 Accounts Payable $49,569

Thus, with the purchases of merchandise during the fiscal year at a cost of $49,569, the Assets (inventory) and Liabilities (accounts payable) are increased by the same amount.

Related question on the financial statement effects at brainly.com/question/16362041

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Harlamova29_29 [7]

Answer:

2 Days

Explanation:

First, there is the need to rewrite the utility function for clarity

U=V^{1/2}

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Total number of vacation= 10 days x Probability to fall ill = 20%

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5 0
2 years ago
A company has total assets of $1,000, current liabilities of $130, and total liabilities of $350. if debt is the only long-term
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uppose the current term structure of interest rates, assuming annual compounding, is as follows: s_1s 1 ​ s_2s 2 ​ s_3s 3 ​ s_4s
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Answer:

7.53%

Explanation:

Calculation for the discount rate of d(0,4)d(0,4)

The discount factor is : d=1/1+i

And given that the interest rates are compounded annually the discount factor will gives the present value of the bond when provided with the interest rate and maturity value.

Therefore the present value of a bond with a maturity value of 1 will be;

Present value=1 /(1+i1) (1+i) (1+i3) (1+i4)

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Present value=0.748

The present value of a bond with a maturity value of 1 will therefore be 0.748.

Now, let calculate the discounting factor for the whole 4 years:

1 (1+d (0,4))‐⁴ =0.748

(1+d(0,4))=0.748‐¹/⁴

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