User Account

All Pages

What the correct entry to be recorded in simon books

Assignment Help Accounting Basics
Reference no: EM133060258

Question - Simon sold goods to Lawrence for $2200 including GST. Lawrence paid his account within the discount period and received a settlement discount of 2%. Assume GST of 10%. Using the gross method, what the correct entry to be recorded in Simon's books for the payment from Lawrence?

Reference no: EM133060258

Questions Cloud

What is the yield : What is the yield, compounded semi-annually, of a $15,000, 5.5% bond with monthly coupons redeemable in eight years if the bond is bought today for $16,333?
Estimate for the current value : If NORDAM has $2.5 billion in cash, $1.2 billion in outstanding debt, and 400 million shares outstanding, what is your estimate for the current value of one sha
What is the mirr of a project : Good Beans, Inc. is using the modified internal rate of return (MIRR) when evaluating projects. The company is able to reinvest cash flows received from the pro
Estimate the before-tax cost of debt for pac ltd : PAC Ltd is planning to issue zero coupon bonds with 20 years to maturity. The face value of the bond would be $800. The company is expected to pay coupons on th
What the correct entry to be recorded in simon books : Assume GST of 10%. Using the gross method, what the correct entry to be recorded in Simon's books for the payment from Lawrence
Differentiate an airline company like jetblue : How can service value differentiate an airline company like JetBlue?
What is melody basis in the inventory : At the beginning of the tax year, Melody's basis in the MIP LLC was $60,000, After distribution, what is Melody's basis in inventory and in her MIP interest
Find percentage change in the bond price : A ten-year bond paying coupons annually has a yield of 11% and a duration of 7.195 years. If the bond's yield changes by 25 basis points, what is the percentage
Are the dynamics of the merged company consistent : (b) Are the dynamics of the merged company consistent with the prediction of the FF model?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd