decided to sell a combination of the t-shirt for $10 with a free hotdog. Donovan buys the combination of the t-shirt and the hotdog for $10 in cash. How should Franiuk account for the transaction?
Q: Koykoy is a sales agent of Mikoy Car Company. He was able to sell reposed car worth $648,000.00. He…
A: The sales commission is paid to a sales agent on the net selling price instead of the worth of the…
Q: Lucy buys a $4,000 piano (transaction 4). The purchase is funded by a $1,200 bank loan (transaction…
A: Hey, since there are multiple subpart questions posted, we will answer the first three questions. If…
Q: Schlitz bought some new material which cost $1,000 and which had credit terms of 1/10 net 30.…
A: 1/10 net 30 means the trade credit offered to a customer for the sales of goods and implies if the…
Q: Before purchasing a used car, Cody Lind checked www.kbb.com to learn what he should offer for the…
A: Given:Cody Lind purchased a used car for $15,300.He put $1,900 down.He financed the rest with a…
Q: Darcy holds a 200 day note from Brenda. This note was given by Brenda to Darcy since the former ow…
A:
Q: vanhoe Company sells its product for $10400 per unit. Variable costs per unit are: manufacturing,…
A: Income = Sale - Variable Manufacturing - Variable Selling and admin - Fixed Manufacturing - Fixed…
Q: Jeff Jones bought a ring for $4,000 from Zales. He must pay a 7% sales tax and 10% excise tax. Since…
A: A price that includes taxes and other relevant charges to possess a particular asset is term as the…
Q: please consider the following questions : Student A buy a traffic insurance and the ferasures are as…
A: Traffic insurance, also known as auto insurance or car insurance, is a type of insurance that…
Q: Abdul has a debit card linked to a checking account with an available balance of $1480. He also owes…
A: Data given: Checking account balance=$1480 Amount owed to credit card= $1030 Credit card limit=$2400
Q: Todd purchases a new car for $22,650. He makes a $5000 down payment and finances the remainder…
A: Amortization is the process of gradually paying off a debt or loan through regular, scheduled…
Q: Angela has a Macy’s credit card. The card has a balance of $2088.74 with an APR of 28.99%. Macy’s…
A: Card Balance is $2088.74 APR is 28.99% Minimum payment rate is 3.9% To Find: Minimum Payment…
Q: One of Cristina's peanut butter catering clients has made a deposit for a big event--a backyard…
A: Customer Deposit It is basically a liability in the books of a firm which means cash received in…
Q: If you are trying to build credit by using a credit card, each time you make a purchase with the…
A: Data given: 31 day billing cycle 10/1 Previous balance $ 1,177.00 10/3 Credit $ 66 cr…
Q: Eddie Craft is offered credit terms of 2/10 net 40 by his suppliers. Eddie, however, usually pays in…
A: The credit terms 2/10 net 40 mean that Eddie Craft is offered a 2% discount if he pays within 10…
Q: Alex bought a used motorcycle from Sheldon's dealership for $28,000 to be paid in installments over…
A: Ans. Alex can try to find Sheldon and get his money from him, but he must pay SNL
Q: Jake's Auto Repair received a $3,000, 90 day, 10 % promissory note from Samantha in exchange for…
A: A journal entry is a beginning record- keeping entry made into the account system of a business to…
Q: What information is missing that is necessary for you to solve this problem? "David buys a car for…
A: A question has been stated. However information provided there are not adequate. The missing pieces…
Q: If you are trying to build credit by using a credit card, each time you make a purchase with the…
A: Annual percentage rate refers to the charge which is paid by the borrower to the lender on the loan…
Q: Harshit started a grocery shop "Goel Kirana Shop" and purchased furniture of worth Rs. 80,000 on…
A: Depreciation under WDV is calculated on depreciated balance of previous year.
Q: Elsa bought some kitchen supplies from an online store. For shipping the store charges 68.65 flat…
A: Shipping charges are transportation charges that are to be paid on purchasing a product. It is…
Q: Jack Lowes $358.32 on his Visa account. He returns two items costing $23.13 and $32.77 for credit.…
A: Total amount to be paid off shall be: = Opening Balance + Purchases - Returns Further, the said…
Q: 5) Jon has a credit limit of $15,000 on his credit card. He had a previous balance of $427.51. He…
A: Credit cards are widely accepted and provide a convenient way to make purchases without carrying…
Q: Your friend is trying to establish good credit. Your friend is thinking about taking out a $15,000…
A: These days, it is important for individuals to maintain a good credit score or rating. It helps in…
Q: jane bought 2 apples and 3 oranges, the total amount she paid at most P^(123). what is the cost of…
A: Total amount used to buy apples and oranges = P 123 Number of apples purchased = 2 Number of oranges…
Q: Form 1099-K3
A: Form 1099-K is actually a tax form the Internal Revenue Service (IRS) issues to report online…
Q: Marissa paid $203.57 for a printer that she purchased after receiving trade discounts of 24%, 18%,…
A: List price of the printer =amount paid / (1-discount1)*(1-discount2)*(1-discount3)
Q: Apollo Denis owns a store retail outlet.Jessica bought goods from Apollos store worth k600.Apollo…
A: Data given:Goods worth= k600Discount allowed=20%Required: How much is discount amount ?
Q: Fatin buys a new café furniture worth RM 9,200. She receives an invoice dated 19 April 2021 with…
A: Fatin buys a new café furniture worth RM 9,200. She receives an invoice dated 19 April2021 with…
Q: i will be attaching the 1st question as asked but kindly answer the second question only. thanks! 1.…
A: Minimum monthly payment is that payment, which is the amount of money paid by a borrower, It is…
Q: What kind of obligation are the following? 1.1. Rosalie agreed to pay her tuition fee in…
A: “Since you have posted a question with many sub-parts, we will solve three sub-parts for you. To get…
Q: after paying commission if 7% of the sale price to his broker, tess receives 103,000 for his car.…
A: The amount that a customer pays to buy a product is called a selling Price. Selling Price after…
Q: Shyam sold goods to Ram for ¥ 20,000 on 1.1.2015. On the same date Shyam drew upon Ram a bill for…
A: A bill is a type of debt instrument that is generally used by companies in exchange for cash. Bill…
Q: Flip opened a credit card account. During the first month he purchased new cloths that totaled…
A: Purchase made on credit card: $1,505.57.Monthly decrease in balance: 1.9%
Q: NEED TO ANSWER TRUE OR FALSE. 1.ELMO SAYS TO A TOURIST, ''YOU'RE GOING TO GIVE ME 100$ FOR A…
A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…
Q: Trivia Williams purchased 5 pounds of irish at the market for $180. He received six irish. If all…
A: Calculation for 4 irish (of same weight and size) can be calculated as follows: = Value of 1 irish *…
Q: Suppose Daryl spontaneously decides to treat all his friends to pizza, drinks, and dessert at a…
A: Loans are paid by equal monthly payments and these payments carry interest and loan payments.
Q: Anne buys a television set from a merchant who asks for P1,250 at the end of 60 days. Mr. Ureta…
A: Cash price for the television can be calculated as: = Value after 60 days / (1 + Interest rate for…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Arnold purchased a note from Sylvester for $4300. The note will mature in 240 days, and bears 0.065 of simple interest rate. But 120 days after Arnold purchased the note, his friend Bruce convinced him to sell him the note for $4478.87. Bruce keeps the note until maturity. (a) What is the simple interest rate for Arnold in these transactions? (b) What is the simple interest rate for Sylvester in these transactions? (c) What is the simple interest rate for Bruce in these transactions?Sam bought a ring for $2,000 from Zales. He must pay at 6% sales tax and 9% excise tax. Since the Jeweler is shipping the ring, Sam must also pay a $20 shipping charge. What is the total purchase of Sam's ring?Select all that apply. Who may receive a Form 1099K Tina is reimbursed for shared meals with friends and family. reimbursement was 900 James and Anna rent a room in their house through Airbnb. They rented for 100 days and received 12.500 Zadora sells handmade jewelry through Etsy. they sold 1895 in jewelry. Roger sold a bike to their neighbor for $50 I want answer within one hour. Thanks
- Arnold purchased a note from Sylvester for $4300. The note will mature in 240 days, and bears 0.065 of simple interest rate. But 120 days after Arnold purchased the note, his friend Bruce convinced him to sell him the note for $4478.87. Bruce keeps the note until maturity. (a) What is the simple interest rate for Arnold in these transactions? (b) What is the simple interest rate for Sylvester in these transactions? (c) What is the simple interest rate for Bruce in these transactions? Submit AnswerMike and BrettBrett are students at Berkeley College. They share an apartment that is owned by BrettBrett. BrettBrett is considering subscribing to an Internet provider that has the following packages available: Package Per Month A. Internet access $60 B. Phone services 15 C. Internet access + phone services 65 ... Question content area top right Part 1 MikeMike spends most of his time on the Internet ("everything can be found online now"). BrettBrett prefers to spend his time talking on the phone rather than using the Internet ("going online is a waste of time"). They agree that the purchase of the $ 65$65 total package is a "win dash win""win–win" situation. Requirements 1. Allocate the $ 65$65 between MikeMike and BrettBrett using (a) the stand-alone cost-allocation method, (b) the incremental cost-allocation method, and (c) the Shapley value method. 2. Which method would you recommend they use and why?An individual spends $100 per day. Suppose that this person pays for all her purchases using her credit card. She withdraws no money from her bank account until the morning of the fourth day, when she withdraws the whole amount necessary to pay for her credit card purchases over the previous four days. Calculate the amount of money this person withdraws each time she goes to the bank. She will withdraw $ 400. (Enter your response as a whole number.) Compute this person's money holdings at the beginning of each of the next four days. For day 1, money holdings are $ For day 2, money holdings are $ (Enter your response as a whole number.) (Enter your response as a whole number.) For day 3, money holdings are $ (Enter your response as a whole number.) (Money holdings are at the beginning of the day before she makes any For day 4, money holdings are $ payments.)
- Deja owns a photo printing business and wants to purchase a new state-of-the-art photo printer that she found online for $9,275, plus sales tax of 5.5%. The supply company is offering cash terms of 2/15, n/30, with a 1.5% service charge on late payments, or 90 days same as cash financing if Deja is approved for a company line of credit. If she is unable to pay within 90 days under the second option, she would have to pay 22.9% annual simple interest for the first 90 days, plus 2% simple interest per month on the unpaid balance after 90 days. Deja has an excellent credit rating but is unsure of what to do. a) If Deja took the cash option and was able to pay off the printer within the 15-day discount period, how much would she save? How much would she owe? b) If Deja takes the 90 days same as cash option and purchases the printer on December 30 to get a current-year tax deduction, using exact time, what is her deadline for paying no interest in a non-leap year? In a leap year?) Samantha and Samuel both have student credit cards issued by VISA. Their credit card statements show they are at their credit card limit of $500 this month. Samantha manages her credit well and ensures that her credit card balance is paid off in full each month before the payment deadline while Samuel cannot manage to pay off the minimum amount required each month. Complete the senterice: For Financial Statement reporting purposes, a) It does not matter where Samantha or Samuel report the $500 as long as it is shown on one of their Financial Statements. b) Both Samantha and Samuel would report their $500 on their Balance Sheet as a current liability. c) Both Samantha and Samuel would report their $500 on their Cash Flow statement as an expense. d) Samantha would report her $500 on her Cash Flow statement as an expense while Samuel would report his credit card debt of 5500 on his Balance Sheet as a current liability. e) Samantha would report her $500 on her Balance Sheet as a…what is pooling of Interest Method?
- In a raffle, 5000 tickets are being sold at $1 each. There is a first prize of $700,three second prizes of $500 each, and five third prizes of $100 each. Susan buys a ticket.What would have been a fair price for a ticket? How much extra did Susan pay?Create journal entries for the four scenarios (below). Please provide exceell file if possible. Scenario 1 On 15 Jan, John and Mary borrow $62.50 to purchase feeder chickens to fatten and sell in the local market. The interest rate is 30%. Scenario 2 On 18 Jan, John and Mary purchase $62.50 worth of feeder chickens with the cash they received from the loan. Scenario 3 On 2 Feb, John's father dies, leaving John and Mary $375 as an inheritance. John contributes the money to their farming business. Scenario 4 On 15 Mar, John and Mary sell their remaining maize to a purchasing agent for $812.50.ng gifts to sales contracts. Can Armelio deduct the cost of the lapel buttons as business gifts? 49. Melissa recently paid $400 for round-trip airfare to San Francisco to attend a business conference for three days. Melissa also paid the following expenses: $250 fee to register for the conference, $300 per night for three nights' lodging, $200 for meals in restaurants, and $150 for cab fare. LO 1-2