Record the transactions in a general journal. When required, enter amounts to the nearest cent. If an amount box does not require an entry, leave it blank. Assume 360 days in a year. Milo Radio Shop had the following notes payable transactions: Apr. 1 Borrowed $5,000 from Builder's Bank, signing a 90-day, 8% note.
5 Gave a $2,000, 60-day, 7% note to Breaker Parts Co. for purchase of merchandise.
10 Paid $500 cash and gave a $1,500, 30-day, 6% note to M. K. Reynolds in payment of an account payable.
May 10 Paid $500 cash, plus interest, and issued a new $1,000, 30-day, 7% note to M. K. Reynolds. 20 Borrowed $3,500 for 60 days from Builder's Bank on a non-interest-bearing note. The discount rate is 7%.
June 4 Paid $500 cash, plus interest, to Breaker Parts Co. (see April 5) and gave a new $1,500, 30-day, 7% note to extend time for payment.
9 Paid the principal and interest due on the $1,000 note to M. K. Reynolds. (See May 10.)
30 Paid the principal and interest due on the $5,000 note to Builder's Bank. (See April 1.)
July 4 Paid the principal and interest due on the $1,500 note to Breaker Parts Co. (See June 4.)
19 Paid the $3,500 non-interest bearing note to Builder's Bank.
Answers: 1
Business, 22.06.2019 07:40
Shelby company produces three products: product x, product y, and product z. data concerning the three products follow (per unit): product x product y product z selling price $ 85 $ 65 $ 75 variable expenses: direct materials 25.50 19.50 5.25 labor and overhead 25.50 29.25 47.25 total variable expenses 51.00 48.75 52.50 contribution margin $ 34.00 $ 16.25 $ 22.50 contribution margin ratio 40 % 25 % 30 % demand for the company’s products is very strong, with far more orders each month than the company can produce with the available raw materials. the same material is used in each product. the material costs $8 per pound, with a maximum of 4,400 pounds available each month. required: a. compute contribution margin per pound of materials used. (round your intermediate calculations and final answers to 2 decimal places.) contribution margin per pound product x $ product y $ product z $ b. which orders would you advise the company to accept first, those for product x, for product y, or for product z? which orders second? third? product x product y product z
Answers: 3
Business, 22.06.2019 11:20
Lusk corporation produces and sells 14,300 units of product x each month. the selling price of product x is $25 per unit, and variable expenses are $19 per unit. a study has been made concerning whether product x should be discontinued. the study shows that $72,000 of the $102,000 in monthly fixed expenses charged to product x would not be avoidable even if the product was discontinued. if product x is discontinued, the annual financial advantage (disadvantage) for the company of eliminating this product should be:
Answers: 1
Business, 23.06.2019 00:00
Which example would the government consider as intellectual property? a. product design that contains a hologram of the logo of the company b. a copy of a famous artist’s painting in a new medium c. a plant species discovered in the united states for the first time d. a method of production that is common to an entire industry e. a discount structure offered to the customer at a store
Answers: 3
Record the transactions in a general journal. When required, enter amounts to the nearest cent. If a...
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