FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- 1 Moore is considering a $180,000 investment with the following net cash flows. Moore requires a 10% return on its investments. Calculate the NPV and IRR below. In the dropdown box, select whether each indicates whether Moore should accept the investment. 2 3 Year 4 Initial investment 5 1 6 7 8 9 10 11 12 13 14 15 NPV 16 17 IRR 18 19 20 2 4 5 Net Cash Flows (180,000) 60,000 40,000 70,000 125,000 35,000arrow_forwardOn December 1, 2022, Blossom Company had the following account balances. Cash Notes Receivable Accounts Receivable Inventory Prepaid Insurance Equipment Dec. 7 1. 12 2. 17 During December, the company completed the following transactions. 19 22 26 31 Debit Adjustment data: $18,800 Accumulated Depreciation-Equipment 2,400 Accounts Payable Common Stock Retained Earnings 7,000 15,500 1,700 29,000 $74,400 Credit Received $3,600 cash from customers in payment of account (no discount allowed). Purchased merchandise on account from Vance Co. $12,400, terms 1/10, n/30. Sold merchandise on account $16,400, terms 2/10, n/30. The cost of the merchandise sold was $9,600. $2,900 6,200 50,100 15,200 $74,400 Paid salaries $2,100. Paid Vance Co. in full, less discount. Received collections in full, less discounts, from customers billed on December 17. Received $2,800 cash from customers in payment of account (no discount allowed). Depreciation was $200 per month. Insurance of $400 expired in December.arrow_forwardMar. 17 Received $810 from Shawn McNeely and wrote off the remainder owed of $4,820 as uncollectible. July 29 Reinstated the account of Shawn McNeely and received $4,820 cash in full payment. Journalize the above transactions, using the direct write-off method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titlesarrow_forward
- A written order for a bank or other financialinstitution to pay a stated dollar amountto a specified business or person is called aa. check.b. deposit slip.c. notes receivable.d. receipt.e. debit memorandumarrow_forwardUsing the allowance method of accounting for uncollectible receivables. Transactions: April 1 Sold merchandise on account to Jim Dobbs, $8,500. The cost of the merchandise is $3,400. June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. Oct. 11 Reinstated the account of Jim Dobbs and received cash in full payment. Required: Journalize the above transactions. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to nearest dollar amount. Chart of Accounts CHART OF ACCOUNTS General Ledger ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-Alan Albertson 122 Accounts Receivable-Jim Dobbs 123 Accounts Receivable-John Groves 124 Accounts Receivable-Jan Lehn 125 Accounts Receivable-Jacob Marley 126 Accounts Receivable-Mr.Potts 127 Accounts Receivable-Chad Thomas 128 Accounts Receivable-Andrew Warren 129 Allowance for…arrow_forwardHi, How do i write these journal entires?arrow_forward
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