The company ‘Don Rufian’ lends a supplier, with many financial problems, $100,000 payable in three equal instalments of $50,000 each.You are asked to:(a) Indicate the initial recognition (accounting entry).b) Draw up the development table in an EXCEL spreadsheet, considering that the IRR is 23.375193% per month.c) Make the entries on the dates on which the instalments are paid.
Q: Provide answer this question
A: The problem involves the determination of the discounted payback period. The discounted payback…
Q: How many actual direct labor hours were worked ?
A: Step 1: Define Labor Efficiency VarianceThe labor efficiency variance calculates the difference…
Q: 1-b. Using the predetermined overhead rate and other data from the problem, determine the unit…
A: Step 1: Calculate Activity Rates for Each Cost Pool We have four activity cost pools, and we need to…
Q: Hello tutor give correct answer
A: 1.Given: Discount period = 10 daysCustomer taking the discount = 40%Average payment days = 56…
Q: The balance sheet for the Delphine, Xavier, and Olivier partnership follows: Cash $ 65,040…
A: For the safe payment, we need to compute first the total possible loss to be absorbed by each…
Q: Question in image, thanks!
A: To calculate the retained earnings at December 31, 2021, follow this process:Starting Retained…
Q: Question in image, thanks!
A: Explanation: To close expense accounts, following closing entry will be passed:General…
Q: On April 1, 2025, Seminole Company sold 15,000 of its 11%, 15-year, $1,000 face value bonds at 97.…
A: (a) April 1, 2025: Issuance of the bondsThe bonds were issued at 97, meaning they were sold at a…
Q: Utilizing the income statement and balance sheet provided, and solve for total gross profit, net…
A: The gross profit for each category is already provided. To find the total gross profit, we simply…
Q: None
A: Step 1: Introduction to the Annual Inventory"Annual inventory" is a term related to business…
Q: Please Provide Solution
A: Step 1: Introduction to the Cost of Goods Sold:A business incurs various costs to prepare its…
Q: During the current year, Quartz Corporation (a calendar year taxpayer) had the following income and…
A: To determine Quartz Corporation's charitable contribution deduction for the current year, we need to…
Q: Need help
A: To calculate the return on equity (ROE) for Home Depot for the year ended January 31, 2016, we need…
Q: None
A: Step 1: Introduction to the Discounted Payback PeriodUnlike the normal payback period, the…
Q: The marketing department of Jessi Corporation has submitted the following sales forecast for the…
A: Step 1: Estimate SalesIdentify the budgeted unit sales for each quarter from the provided data.Sum…
Q: Need expart solution only, don't use ai
A: Step 1: Define High-Low MethodIn accounting, the high-low method and regression analysis are used to…
Q: Hi expart Provide correct answer
A: Step 1: Define ConsolidationConsolidation in accounting refers to the process of combining the…
Q: Ababout introduction or overview,tell me which is correct option and with reason why ? tell me which…
A: 1. Understanding the Question:The question is asking for the estimated global loss businesses face…
Q: Need help
A: Step 1: Define Net SalesTotal income minus the sales returns, allowances, and discounts is known as…
Q: not use ai please
A: The correct statements are:Deduction for AGI reduce AGI thus reducing the limitations on other tax…
Q: None
A: To find the net income, we need to use several financial formulas and relationships. Let's break it…
Q: Knowledge Check 01 Intercontinental, Incorporated, uses a perpetual inventory system. Consider the…
A: Step 1: Weighted Average Method of InventoryWeighted average cost calculates the weighted average…
Q: what does Fraud Triangle mean?
A: The Fraud Triangle is a model for explaining the factors that cause someone to commit occupational…
Q: Need help with this question
A: Step 1: Introduction to notesNotes are also known as promissory notes which are a sort of debt…
Q: Several years ago, your client, Brooks Robertson, started an office cleaning service. His business…
A: To determine the gain or loss Brooks Robertson will recognize on the incorporation of his office…
Q: How much long-term debt does the firm have ?
A: Step 1: Introduction to the Accounting EquationThe account equation or the balance sheet equation…
Q: You should always incorporate measures that balance:A Quantitative and qualitative aspectsB) Money…
A: The question is asking which measures should always be incorporated in a business to ensure balance.…
Q: None
A: The problem involves the determination of the ROE. ROE or Return on Equity is a gauge of a…
Q: None
A: Step 1: Introduction to the Equity sharesOrdinary shares are another name for equity shares. They…
Q: Please provide answer the question
A: Step 1: Define Gross ProfitGross profit is computed by reducing revenue from the cost of goods sold…
Q: None
A: Step 1: Define Asset Turnover RatioAsset turnover ratio is a financial metric that reveals how…
Q: SunDial Inc. uses the retail inventory method and has the following information available concerning…
A: The first step in the retail inventory method is to calculate the cost-to-retail ratio. This ratio…
Q: [The following information applies to the questions displayed below.] The following is financial…
A: To determine the minimum revenue amount a segment must generate to be of significant size for…
Q: The stockholders' equity accounts of Vaughn Company have the following balances on December 31,…
A: Step 1: a1 & a2.Number of stock dividend issued = 7% * Outstanding shares= 7% * 295,000 = 20,650…
Q: Policies Current Attempt in Progress Marigold Corporation has the following account balances at…
A: The stockholders' equity section of a company's balance sheet typically includes the following…
Q: Please assist
A: No other explanation. Please already refer to the answer above.
Q: Financial accounting
A: To solve the problem, I first calculated EBIT (Earnings Before Interest and Taxes) by using the…
Q: A1 Supply Company purchased equipment for $45,000, paying cash of $5,000 and signing a note payable…
A: To record the purchase of equipment partially paid in cash and signed notes payable for the…
Q: Business 123 Introduction to Investments May I please have an explanation and solution for the…
A: The Gordon Growth Model (also known as the Dividend Discount Model for constant growth) can be used…
Q: Several years ago, Westmont Corporation developed a comprehensive budgeting system for planning and…
A: Let's break down the solution step by step for each of the requirements in the question, based on…
Q: solve this one please give me correct value
A: The problem requires the determination of the Free Cash Flow to the Firm or FCFF. Free cash flow to…
Q: Not use ai please don't
A: Step 1: Introduction to the High-Low MethodTo determine the cost formula in the high-low method,…
Q: Accounting Question
A: Required 1. Required 2. Formula:Cost per equivalent unit = Production cost / Equivalent units…
Q: Need Question Solution
A: Explanation of Net Income: Net income is the profit a company makes after all expenses, taxes, and…
Q: A company purchases debt securities for $200,000 at the beginning of 2022. It classifies $80,000 as…
A: a. Debt Securities:Debt securities are financial instruments that allow an investor to lend money to…
Q: Current Attempt in Progress Give an example of a transaction that results in: (a) a decrease in an…
A: Approach to Solving the Question1. Understand the Accounting EquationAssets = Liabilities +…
Q: Joseph manages an electronics store where customers can purchase phones, tablets, or accessories for…
A: 3. Determine the Sales Mix:Since Joseph discovered that 80 units were sold (break-even sales), we…
Q: Pharoah Corporation issued $468,000 of 6% bonds on May 1, 2020. The bonds were dated January 1,…
A: (a) May 1 Issuance of Bonds1. Bond Issuance Details:Pharoah Corporation issued $468,000 in bonds on…
Q: Cullumber Company reported the following information for the month of April: Units Work in Process…
A: The information in the image provided relates to the calculation of units and costs for work in…
Q: answer must be correct or i will give down vote
A: The first step in this process is to calculate the predetermined overhead rate. This is done by…
The company ‘Don Rufian’ lends a supplier, with many financial problems, $100,000 payable in three equal instalments of $50,000 each.
You are asked to:
(a) Indicate the initial recognition (accounting entry).
b) Draw up the development table in an EXCEL spreadsheet, considering that the
c) Make the entries on the dates on which the instalments are paid.
Step by step
Solved in 2 steps with 2 images
- I need help with writing a formula in Excel. 6. The management has decided to go for upfront payments for 1-year instances. AWS has tie-up with eCommerceBanque Inc, wherein the bank provides loan to AWS customers for paying the upfornt payment for the reserved instance. The bank has provided loan of $2102 to the firm. The loan duration is for 1 year and the payments are required to be paid monthly (at the end). The monthly payment is $187.61 (that is the same amount charged by AWS). (i) Enter the values of number of periods, Monthly payments, Present Value and Type in cells C32, C33, C34 and C36 respectively. (ii) Write a formula in cell C37 to compute the monthly interest rate charged by the bank.(iii) Write a formula in cell C38 to convert the value calculated in C37 to annual rate.Solve the following problems without using any software, do everything in digital format, explain the formulas, substitutions and result 1. A company has in its portfolio of assets 10 promissory notes of $ 200 each, with monthly maturities at the end of the month. The company needs liquidity and plans to sell them to a bank, which has accepted the transaction with an interest rate of 24% per year (2% per month). What amount will the company receive if the operation is carried out? In other words, what is the present value of these notes?Please solve this question
- As a small software developer firm, you have approached the AXZ Bank to obtain a term loan so that the firm can purchase a new server. The AXZ bank provides two (2) offers to your company, as listed below:a) a loan of $100,000 over a five (5) year period at an interest rate of 7.65% per annum (per year) payable at the end of each month.b) a loan of $100, 000 over a three (3) year period at an interest rate of 5.5% per annum (per year) payable at the end of each month. 1. Calculate the monthly loan instalments for each offer listed above – a) and b).2. Calculate the total interest payments for each offer listed above – a) and b). Please kindly provide all the workings and calculations properly to understand. Thank youNote:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.E. PART E PROBLEM. USE SEPARATE EXCEL ANSWER SHEET. Suppose your business borrow $14,000 from the bank in order to buy a new car by signing a promissory note payable. The bank charges 6% APR, compounded monthly. You will make equal monthly payments at the end of each month for two years. 1. 2. Complete an amortization schedule in Excel for all 24 months that shows the table headers and columns below. Prepare the journal entry for the first payment (Mo. #1). 1 2 Mo.# Beg. Balance 14,000.00 etc. Principal Payment Interest Reduction End. Balance
- Can you help me solve this general accounting problem using the correct accounting process?1.) You have a credit card with an APR of 24%. You begin with a balance of $620. In the first month you make a payment of $450 and make new charges of $220. In the second month you make a paymen of $320 and make new charges of $90. Complete the following table. (Round VOur anSwers to tho nonrogtWhole Leaves wants to upgrade their equipment, and on January 24 the company takes out a loan from the bank in the amount of $310,000. The terms of the loan are 6.5% annual interest rate, payable in three months. Interest is due in equal payments each month. Compute the interest expense due each month. Show the journal entry to recognize the interest payment on February 24, and the entry for payment of the short-term note and final interest payment on April 24. Round to the nearest cent if required.
- RESOLVE THIS PROBLEM IN DIGITAL FORMAT (NOT HANDWRITTEN) Solve the following problem step by step, include the formulas you use and the development please A person contracted a debt 8 months ago for 34,650 with 40% interest and that expires in two months. In addition, you must pay another 15,000 contracted two months ago with 35% interest and that expires in 4 months. How much are your commitments today?Mar. 9) The company completed a $10,400 project for a client, who must pay within 30 days. Note: Enter debits before credits. Date Account Title Debit Credit Mar 09RESOLVE THIS PROBLEM IN DIGITAL FORMAT (NOT HANDWRITTEN) Solve the following problem step by step, include the formulas you use and the development please A merchant acquires a lot of merchandise with a value of $ 350,000 that he agrees to liquidate by making an immediate payment of 123,500 and a final payment 5 months later, agreeing to pay interest at a rate of 23% semi-annually. How much should this payment be?