Questions
This information relates to Rice Co. 1.On April 5, purchased merchandise on account from...
E5-2 This information relates to Rice Co. 1.
On April 5, purchased merchandise on account from Jax Company for $28,000, terms 2/10, n/30. 2.
On April 6, paid freight costs of $700 on merchandise purchased from Jax. 3.
On April 7, purchased equipment on account for $30,000. 4.
On April 8, returned $3,600 of April 5 merchandise to Jax Company. 5.
On April 15, paid the amount due to Jax Company in full.
Instructions
a. Prepare the journal entries to record the transactions listed above on Rice Co.'s books. Rice Co. uses a perpetual inventory system.
b. Assume that Rice Co. paid the balance due to Jax Company on May 4 instead of April 15. Prepare the journal entry to record this payment.
In: Accounting
Exercise 5-1 This information relates to Crane Co.. 1. On April 5, purchased merchandise from Sheridan...
Exercise 5-1
This information relates to Crane Co..
1. On April 5, purchased merchandise from Sheridan Company for $26,000, terms 3/10, n/30.
2. On April 6, paid freight costs of $520 on merchandise purchased from Sheridan Company.
3. On April 7, purchased equipment on account for $31,400.
4. On April 8, returned $4,100 of April 5 merchandise to Sheridan Company.
5. On April 15, paid the amount due to Sheridan Company in full.
(a) Prepare the journal entries to record the transactions listed above on Crane Co.'s books. Crane Co. uses a perpetual inventory system.
(b) Assume that Crane Co. paid the balance due to Sheridan Company on May 4 instead of April 15. Prepare the journal entry to record this payment.
In: Accounting
Did your coworker do anything unethical in this transaction?
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Did your coworker do anything unethical in this transaction?
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Assuming you feel this was an unethical situation, how do you handle this? Remember, this is your friend and co-worker.
Material: You have a co-worker at work that you are also friends with. One day, a borrower comes in and meets with him. You overhear the borrower tell your co-worker that he has a loan with his mom and dad for about $10,000 that he pays $300 a month. Your co-worker proceeds as if he didn’t hear your borrower at all. Once he has taken the application, he tells the borrower that he qualifies for maximum financing for a $250,000 home. However, that does NOT take into consideration the $300 a month the borrower pays his parents for the loan.
In: Operations Management
For the following reaction, Kc = 255 at 1000 K. CO (g) + Cl2 (g) ⇌...
| For the
following reaction, Kc = 255 at 1000 K. CO (g) + Cl2 (g) ⇌ COCl2 (g) You may want to reference (Pages 693 - 702)Section 15.8 while completing this problem. |
Part A If a reaction mixture initially contains a CO concentration of 0.1550 and a Cl2 concentration of 0.175 at 1000K. What is the equilibrium concentration of CO at 1000 K? Express your answer in molarity to three significant figures.
SubmitRequest Answer Part B What is the equilibrium concentration of Cl2 at 1000 K? Express your answer in molarity to three significant figures.
SubmitRequest Answer Part C What is the equilibrium concentration of COCl2 at 1000 K? Express your answer in molarity to three significant figures.
SubmitRequest Answer |
In: Chemistry
or the following reaction, Kc = 255 at 1000 K. CO (g) + Cl2 (g) ⇌...
| or the
following reaction, Kc = 255 at 1000 K. CO (g) + Cl2 (g) ⇌ COCl2 (g) You may want to reference (Pages 693 - 702)Section 15.8 while completing this problem. |
Part A If a reaction mixture initially contains a CO concentration of 0.1470 and a Cl2 concentration of 0.180 at 1000K. What is the equilibrium concentration of CO at 1000 K? Express your answer in molarity to three significant figures.
SubmitRequest Answer Part B What is the equilibrium concentration of Cl2 at 1000 K? Express your answer in molarity to three significant figures.
SubmitRequest Answer Part C What is the equilibrium concentration of COCl2 at 1000 K? Express your answer in molarity to three significant figures.
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In: Chemistry
Park Co. is considering an investment that requires immediate payment of $21,555 and provides expected cash...
Park Co. is considering an investment that requires immediate payment of $21,555 and provides expected cash inflows of $6,800 annually for four years. Park Co. requires a 8% return on its investments.
1-a. What is the net present value of this investment? (PV of $1, FV of $1, PVA of $1, and FVA of $1)
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1-b. Based on NPV alone, should Park Co. invest?
1-c. What is the internal rate of return? (PV of $1, FV of $1, PVA of $1, and FVA of $1)
1-d. Based on its internal rate of return, should Park Co. make the investment?
In: Accounting
This information relates to Sherper Co. 1. On April 5 purchased merchandise from Newport Company for...
This information relates to Sherper Co.
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1. |
On April 5 purchased merchandise from Newport Company for $22,000, terms 2/10, n/30. |
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2. |
On April 6 paid freight costs of $900 on merchandise purchased from Newport. |
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3 |
On April 7 purchased equipment on account for $26,000. |
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4. |
On April 8 returned some of April 5 merchandise to Newport Company which cost $3,600. |
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5. |
On April 15 paid the amount due to Newport Company in full. |
Prepare the journal entries to record the transactions listed above on the books of Sherper Co. Sherper Co. uses a perpetual inventory system.
Assume that Sherper Co. paid the balance due to Newport Company on May 4 instead of April 15. Prepare the journal entry to record this payment.
In: Accounting
IFRS 15 Alignment Co. signed a contract to provide network service to Clumsy Ltd for one...
IFRS 15
Alignment Co. signed a contract to provide network service to Clumsy Ltd for one year from April 2018 for $100 per month. The contract required Clumsy Ltd to make a single payment to Alignment Co for all 12 months at the beginning of the contract. Alignment Co received 12,000 on the 1st of April 2018.
What amount of revenue should Alignment Co recognise in its statement of profit and loss for the year ended December 31, 2018?
A company enters into a contract to supply 4 types of products to a customer. The promise to supply each of these products is regarded as a separate performance obligation.
The stand alone prices of these four products are:
Product A $32,000
Product B $18,500
Product C $25,500
Product D $20,000
In: Accounting
Problem 145 Hodge Co. exchanged Building 24 which has an appraised value of $4,821,000, a cost...
Problem 145
Hodge Co. exchanged Building 24 which has an appraised value of
$4,821,000, a cost of $7,584,000, and accumulated depreciation of
$3,588,000 for Building M belonging to Fine Co. Building M has an
appraised value of $4,531,000, a cost of $9,034,000, and
accumulated depreciation of $4,714,000. The correct amount of cash
was also paid. Assume depreciation has already been updated.
Prepare the entries on both companies' books assuming the exchange
had no commercial substance. (Credit account titles are
automatically indented when the amount is entered. Do not indent
manually. Round answers to 0 decimal places, e.g.
12,215.)
Hodge Co.:
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Account Titles and Explanation |
Debit |
Credit |
Fine Co.:
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Account Titles and Explanation |
Debit |
Credit |
| Click if you would like to Show Work for this question: |
In: Accounting
A food co-op sells a homogenous good called groceries, denoted g. The co-ops cost function is...
A food co-op sells a homogenous good called groceries, denoted g. The co-ops cost function is described by: C(g) = F +cg; where F denotes fixed cost and c is the constant per unit variable cost. At a meeting of the co- op board, a young economist proposes the following marketing strategy: Set a fixed membership fee M and a price per unit of groceries pM that members pay. In addition, set a price per unit of groceries pN higher than pM at which the co-op will sell groceries to non-members.
1. What must be true about the demand of different customers for this strategy to work? (Hint: consider incentive compatibility)
2. What kinds of price discrimination does this strategy employ?
In: Economics