Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30).
Mar. | 1 | Purchased $36,000 of merchandise from Van Industries, invoice dated March 1, terms 2/15, n/30. | ||||
2 | Sold merchandise on credit to Min Cho, Invoice No. 854, for $14,400 (cost is $7,200). | |||||
3 | (a) | Purchased $1,080 of office supplies on credit from Gabel Company, invoice dated March 3, terms n/10 EOM. | ||||
3 | (b) | Sold merchandise on credit to Linda Witt, Invoice No. 855, for $7,200 (cost is $3,600). | ||||
6 | Borrowed $72,000 cash from Federal Bank by signing a long-term note payable. | |||||
9 | Purchased $18,000 of office equipment on credit from Spell Supply, invoice dated March 9, terms n/10 EOM. | |||||
10 | Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $3,600 (cost is $1,800). | |||||
12 | Received payment from Min Cho for the March 2 sale less the discount. | |||||
13 | (a) | Sent Van Industries Check No. 416 in payment of the March 1 invoice less the discount. | ||||
13 | (b) | Received payment from Linda Witt for the March 3 sale less the discount. | ||||
14 | Purchased $35,000 of merchandise from the CD Company, invoice dated March 13, terms 2/10, n/30. | |||||
15 | (a) | Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first half of the month, $12,800. Cashed the check and paid the employees. | ||||
15 | (b) | Cash sales for the first half of the month are $57,600 (cost is $46,080). (Cash sales are recorded daily, but are recorded only twice here to reduce repetitive entries.) | ||||
16 | Purchased $1,600 of store supplies on credit from Gabel Company, invoice dated March 16, terms n/10 EOM. | |||||
17 | Received a $3,500 credit memorandum from CD Company for the return of unsatisfactory merchandise purchased on March 14. | |||||
19 | Received a $540 credit memorandum from Spell Supply for office equipment received on March 9 and returned for credit. | |||||
20 | Received payment from Jovita Albany for the sale of March 10 less the discount. | |||||
23 | Issued Check No. 418 to CD Company in payment of the invoice of March 13 less the March 17 return and the discount. | |||||
27 | Sold merchandise on credit to Jovita Albany, Invoice No. 857, for $10,800 (cost is $4,320). | |||||
28 | Sold merchandise on credit to Linda Witt, Invoice No. 858, for $4,320 (cost is $1,728). | |||||
31 | (a) | Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $12,800. Cashed the check and paid the employees. | ||||
31 | (b) | Cash sales for the last half of the month are $63,360 (cost is $38,016). | ||||
31 | (c) | Verify that amounts impacting customer and creditor accounts were posted and that any amounts that should have been posted as individual amounts to the general ledger accounts were posted. Foot and crossfoot the journals and make the month-end posting |
Assume the following ledger account amounts Inventory (March 1 beg.
bal. is $63,000), Z. Church, Capital (March 1 beg. bal. is $63,000)
and Church Company uses the perpetual inventory system.
Prepare the March 31 trial balance, schedule of accounts receivable and schedule of accounts payable. Post information from the journals in Part 2 to the general ledger and the accounts receivable and accounts payable subsidiary ledgers.
Prepare the March 31 trial balance.
In: Accounting
Suppose Capital One is advertising a
6060-month,
5.25 %5.25%
APR motorcycle loan. If you need to borrow
$ 8 comma 700$8,700
to purchase your dream Harley-Davidson, what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.)
In: Finance
A parallel-plate capacitor with plate area 3.3cm2 and air-gap separation 0.45mm is connected to a 12 V battery, and fully charged. The battery is then disconnected.
What is the charge on the capacitor? Q1=78pC
The plates are now pulled to a separation of 0.55 mm. What is the charge on the capacitor now? Q2=78pC
What is the potential difference across the plates now? V2=15V
How much work was required to pull the plates to their new separation? Express your answer using two significant figures. W=_________J
I got 1.1682*10-10J and it was wrong. Thanks for the help!
In: Physics
NPV AND IRR
A store has 5 years remaining on its lease in a mall. Rent is $2,100 per month, 60 payments remain, and the next payment is due in 1 month. The mall's owner plans to sell the property in a year and wants rent at that time to be high so that the property will appear more valuable. Therefore, the store has been offered a "great deal" (owner's words) on a new 5-year lease. The new lease calls for no rent for 9 months, then payments of $2,500 per month for the next 51 months. The lease cannot be broken, and the store's WACC is 12% (or 1% per month).
In: Finance
Design in java a multiple recursive version of Tetranacci calculators. You will calculate Tetranacci(5), Tetranacci(10) and measure the corresponding run times. (for instance, Tetranacci(10) returns 56). You can use Java’s built-in time function for finding the execution time.
In: Computer Science
Design in pseudo code a linear recursive version of Tetranacci calculators.
Tetranacci numbers are a more general version of Fibonacci numbers and start with four predetermined terms, each term afterwards being the sum of the preceding four terms. The first few Tetranacci numbers are: 0, 0, 0, 1, 1, 2, 4, 8, 15, 29, 56, 108, 208, 401, 773, 1490, …
In: Computer Science
Please someone give a detail TOWS matrix of Indian food chain WoW MOMO !
In: Operations Management
Describe the concept of variance analysis. Explain the importance of variance analysis. Provide specific examples of how variance analysis is beneficial to the organization.
In: Finance
Create a Balance Sheet using the following data:
Sales $55,000
Accumulated Depreciation 19,000
Cost of good sold 32,000
Accounts Receivable
7,300
Depreciation Expense 3,800
Accounts Payable
6,500
Interest Expense 2,600
Short-term notes payable
2,600
Income taxes 5,985
Marketing, general and admin
expenses 4,500
Inventories 4,700
Gross fixed assets
64,800
Long-term debt 36,000
Common stock
12,000
Other assets 1,500 Retained earnings 13,850
Cash ?
Include two columns Percentage of Total assets and Dollar
Value.
Also firm has paid $1,500 in common stock dividends during the year
and has 1000 shares outstanding .
In: Accounting
From 1965 to present, feminism sought to critique mainstream American society in order to challenge proscribed roles and identities of women in society. Discuss what you view as key arguments of feminists in “pushing the boundaries” for women’s liberation.
(Addressing one to two key arguments will suffice) 2-3 paragraphs
In: Psychology
For 20Y2, Tri-Comic Company initiated a sales promotion campaign that included the expenditure of an additional $50,000 for advertising. At the end of the year, Lumi Neer, the president, is presented with the following condensed comparative income statement: Tri-Comic Company Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 1 20Y2 20Y1 2 Sales $890,000.00 $600,000.00 3 Cost of goods sold 320,400.00 228,000.00 4 Gross profit $569,600.00 $372,000.00 5 Selling expenses $142,400.00 $84,000.00 6 Administrative expenses 62,300.00 54,000.00 7 Total operating expenses $204,700.00 $138,000.00 8 Income from operations $364,900.00 $234,000.00 9 Other income 80,100.00 54,000.00 10 Income before income tax $445,000.00 $288,000.00 11 Income tax expense 231,400.00 156,000.00 12 Net income $213,600.00 $132,000.00 1. Prepare a comparative income statement for the two-year period, presenting an analysis of each item in relationship to sales for each of the years. Round your percentages to one decimal place. Enter all amounts as positive numbers. 2. To the extent the data permit, comment on the significant relationships revealed by the vertical analysis prepared in (1).
In: Accounting
Paymaster Enterprises has arranged to finance its seasonal working-capital needs with a short-term bank loan. The loan will carry a rate of
14 percent per annum with interest paid in advance (discounted). In addition, Paymaster must maintain a minimum demand deposit with the bank of 11 percent of the loan balance throughout the term of the loan. If Paymaster plans to borrow $120,000 for a period of 6 months, what is the annualized cost of the bank loan?
The annualized cost of the bank loan is ______%.
(Round to two decimal places.)
In: Finance
Write an anecdotal lead with a person focus from the following information; include a nut graph. Your focus is about the frustrations that students experience trying to park on campus because the parking department has sold too many permits.
Background: Nancy Pauw is a graduate student. One morning, she circled the parking lot east of the computer center three times before she found a parking space. Last year, there were 7,565 student parking permits sold for 3,930 spaces. “I have to get here an hour early so I can get to class on time,” Pauw says. She is one of many students (on your campus) who experience the daily frustration of not finding a parking spot even though they have purchases $30 and $50 permits.
In: Psychology
Step 1 Picture yourself as a Senior Product Manager in your
favorite industry. This could be high-tech, financial services,
consumer products, electronics, automobiles, restaurants, food
services, etc. Choose an industry with which you are familiar. Sit
quietly and brainstorm with yourself about a possible new product
idea. This does not have to be completely original. It could be as
simple as a new flavor of ice cream, a new feature on a hair dryer
or a new color iPod/iPad.
Step 2 Create a post describing your new product idea. Be as specific as possible and provide as much detail as you can so that other's reading your post can understand your idea in sufficient detail so as to comment on it. Be sure to state who the product idea is targeted to, that is, who you expect to buy it. How will the new product compare and compete with similar, currently available products? How can labeling and package design help? Consider the labeling for the new product idea. What restrictions and legal requirements have to be fulfilled? Consider the packaging for the new product ideas. If applicable, what sizes will be available? How will the packaging help the product to stand out? How will the packaging help prevent or deter theft? Feel free to attach images to your post, or include links to similar products that might have similar characteristics to the new one you are developing.
In: Operations Management