1. Smart Co Sales made on credit. On July 1, 2018 it made sales of $60 000 with the term 3/10, n/30. On July 9, 2018 Smart Co received $30000 payment for July 1 sales. Remaining Payment received by smart Co on 15th July, 2018.

Requirement:

Record the Journal Transaction with discount amount with Gross Method and Net Method.

Bulldog, Inc. shows the following information on its balance sheet for the years ending December 31, 2018 and 2017. Dollar amounts are in thousands of dollars.

  2018    2017

Accounts receivable, less allowance for doubtful accounts $ 8,960 $ 8,350

of $448 in 2018 and $417 in 2017

The financial reporting suggests that the managers believe that their customers' ability to pay has

The accounting records of Jamaican Importers, Inc., at January 1, 2018, included the following: Assets: Investment in IBM common shares $ 1,445,000 Less: Fair value adjustment (155,000 ) $ 1,290,000 No changes occurred during 2018 in the investment portfolio. Required: Prepare appropriate adjusting entry(s) at December 31, 2018, assuming the fair value of the IBM common shares was: $1,199,000 $1,299,000 $1,460,000

1. How to calculate efficiency ratios or activity ratios of Tesla company for 2018 and 2019?

2. Compare both years and make some explanation regarding efficiency ratios?

3. To measure how well a Tesla manages various activities, particularly how efficiently it manages its various assets in 2018 and 2019?

(financial statement can take it from internet for years 2018 and 2019)

The information that follows pertains to Esther Food Products:

At December 31, 2018, temporary differences were associated with the following future taxable (deductible) amounts

No temporary differences existed at the beginning of 2018.

Pretax accounting income was $80,000 and taxable income was $15,000 for the year ended December 31, 2018.

The tax rate is 40%.

Provide the calculations and show steps for each

Current Ratio Current Assets/Current Liabilities

2018 = 40,328/45,839

2019 = 36,138/48,174

Quick Ratio Cash and Cash Equivalents + Marketable Securities + Accounts Receivables/CL

2018 = 29,582/45,839 =

2019 = 26,445/48,714 =

Inventory Turnover Cost of Goods Sold/Average Inventory

2018 = 16,071/2,678 =

2019 = 16,732/3,163 =

Marigold Corp., has 14200 shares of 4%, $100 par value, cumulative preferred stock and 59900 shares of $1 par value common stock outstanding at December 31, 2018. There were no dividends declared in 2016. The board of directors declares and pays a $117000 dividend in 2017 and in 2018. What is the amount of dividends received by the common stockholders in 2018?

1. Consider the following table which outlines a simplified basket of goods comprised of three goods, Cheeseburgers, Baseball Tickets, and Toilet Paper. The prices over the last three years are provided.

1. Calculate the cost of the basket of goods in:
   1. 2016

2. 2017

3. 2018

2. What was the inflation between 2016 and 2017?

3. What was the inflation between 2017 and 2018?

4. Using 2016 as the base year. Construct a price index for the price level in:
   1. 2016

2. 2017

3. 2018

On February 1, 2018, Strauss-Lombardi issued 9% bonds, dated February 1, with a face amount of $860,000. The bonds sold for $786,220 and mature on January 31, 2038 (20 years). The market yield for bonds of similar risk and maturity was 10%. Interest is paid semiannually on July 31 and January 31. Strauss-Lombardi’s fiscal year ends December 31. Required: 1. to 4. Prepare the journal entry to record their issuance by Strauss-Lombardi on February 1, 2018, interest on July 31, 2018 (at the effective rate), adjusting entry to accrue interest on December 31, 2018 and interest on January 31, 2019.