Business, 11.02.2020 22:19 jordendoctorwho
The following transactions are February activities of Swing Hard Incorporated, which offers golfing lessons in the northeastern United States. a. Swing Hard. collected $25,800 from customers for lesson services provided in February b. Swing Hard sold a gift card for golf lessons for $200 cash in February c. Swing Hard received $6,300 from credit sales made to customers in January d. Swing Hard collected $4,800 in advance payments for golf lessons to start in June. e. Swing Hard billed a customer $225 for services provided between February 25 and February 28. The bill is to be paid in March. f. Swing Hard paid $6,400 for wages to its golf instructors for the month of February. g. Swing Hard paid $2,800 for electricity used in the month of January. h. Swing Hard received an electricity bill for $1,680 for the month of February, to be paid in March. Required: 1. Prepare an income statement for Swing Hard Incorporated for the month ended February 28. (This income statement would be considered "preliminary" because it uses unadjusted balances.) 2. What is the company's net profit margin, expressed as a percent?
Answers: 3
Business, 22.06.2019 02:50
Grey company holds an overdue note receivable of $800,000 plus recorded accrued interest of $64,000. the effective interest rate is 8%. as the result of a court-imposed settlement on december 31, year 3, grey agreed to the following restructuring arrangement: reduced the principal obligation to $600,000.forgave the $64,000 accrued interest.extended the maturity date to december 31, year 5.annual interest of $40,000 is to be paid to grey on december 31, year 4 and year 5. the present value of the interest and principal payments to be received by grey company discounted for two years at 8% is $585,734. grey does not elect the fair value option for reporting the debt modification. on december 31, year 3, grey would recognize a valuation allowance for impaired loans of
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Business, 22.06.2019 05:50
Match the steps for conducting an informational interview with the tasks in each step.
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Business, 22.06.2019 12:50
Afirmβs production function is represented by q(m,r) = 4m 3/4r1/3, where q denotes output, m raw materials, and r robots. the firm is currently using 6 units of raw materials and 12 robots. according to the mrts, in order to maintain its output level the firm would need to give up 2 robots if it adds 9 units of raw materials. (a) true (b) false
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Business, 22.06.2019 19:20
Win goods inc. is a large multinational conglomerate. as a single business unit, the company's stock price is estimated to be $200. however, by adding the actual market stock prices of each of its individual business units, the stock price of the company as one unit would be $300. what is win goods experiencing in this scenario? a. diversification discount b. learning-curveeffects c. experience-curveeffects d. economies of scale
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The following transactions are February activities of Swing Hard Incorporated, which offers golfing...
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