The dividend yield for the shares of common stock of the Samson Company is 5.30%.
To calculate the dividend yield, we need to determine the dividend as a percentage of the stock's current price. The dividend yield is given by the formula:
Dividend Yield = Dividend / Stock Price
Given:
Expected Total Return = 12.00%
Dividend Growth Rate = 6.70%
To calculate the dividend yield, we need to subtract the expected capital appreciation from the expected total return to find the dividend yield component:
Dividend Yield = Expected Total Return - Expected Capital Appreciation
Expected Capital Appreciation = Expected Total Return - Dividend Growth Rate
Expected Capital Appreciation = 12.00% - 6.70% = 5.30%
Now, we can calculate the dividend yield:
Dividend Yield = Expected Capital Appreciation = 5.30%
Therefore, the dividend yield for the shares of common stock of the Samson Company is 5.30%.
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If you had a choice how much are you willing to pay per month to have access to and use the various social media platforms?
Answer: $10 per month
Explanation:
$10 would be an ideal amount for me to pay to have access to the various social media sites if the major sites are on offer.
I think this amount reasonable because I do not use social media all that much but I would still like access to a variety of them. I would essentially therefore, be paying for my reduced time on the net.
Some might say that the companies might not make a profit if they charge $10 a month but I think they will because they make most of their money from ads so it would be good for them to offer the lowest subscription prices so that they can capture more people which will appeal to advertisers.
Maria is considering various business entity types in order to set up her new business. She wants to know which entities are subject to double taxation. You tell her that the entities subject to double taxation are:
Answer:
1. Corporations
2. Limited liability companies that are elected to be treated as corporations
Explanation:
Double taxation is when tax has to be paid two times on on the same particular source of income. A corporation pays tax at 2 levels. That is at the personal level and sat the business level. From dividends, taxes are paid by shareholders, corporations pay taxes on what they also warn annually.
Entities subject to double taxation includes, corporations and the limited liability companies treated as corporations.
Kathy and Jake are purchasing a house and are financing $465,000. The mortgage is a 20-year
5/1 ARM at 3.5% with a 2/7 cap structure. What will the remaining balance be after the first 5 years?
a $396,038.65
b$427,354.28
c $407,836.29
d $377,238.57
Answer:
D
Explanation:
The remaining balance on a 20-year 5/1 ARM at 3.5% interest with a 2/7 cap structure after 5 years will be $377,238.57.
Pro life tip: Do NOT finance your home with an ARM mortgage.
Good luck in your studies!
if the yield to maturity on a bond is greater than the coupon rate you can assume : A. the price is below the par
B.risk premiums have decreased
C.the price is above the par
D.interest rates have decreased
If the yield to maturity on a bond is greater than the coupon rate, you can assume that the price is below the par. The correct option is A.
Yield to maturity is the total return anticipated on a bond if it is held until it matures. Yield to maturity is expressed as a percentage, and it factors in the bond's purchase price, face value, coupon rate, and time until maturity. The yield to maturity is frequently regarded as a bond's "true" yield since it reflects the total return an investor would receive if they held the bond until maturity.The yield to maturity (YTM) is the total return expected on a bond if it is held until it matures. Yield to maturity is expressed as a percentage and is usually referred to as YTM in finance.
A coupon rate is the yield paid by a fixed-income security to its investors, calculated by dividing the security's annual interest payment by its face value. A coupon rate is a bond's stated interest rate, which determines the amount of interest paid per year. This is expressed as a percentage of the bond's par value.
The par value of a bond is the face value of a bond. It is the value of the bond that is stated on the certificate or other document representing the bond. The par value of a bond is the amount that the bond issuer will pay the bondholder at the bond's maturity date. It is also referred to as the face value or principal amount.
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In several African countries where the rhinoceros was once a thriving species, the animal is now nearly extinct. In most of these nations, rhinoceros horns are used as traditional ingredients in certain medicines. Rhinoceros farming has been proposed as an alternative to the imposition of stiff penalties on people who are caught engaging in rhinoceros hunting. The imposition of stiff penaltiesA. reduces the supply of rhino horns.B. makes poaching more lucrative.C. increases the price of rhino horns.D. All of the above are correct.E. B & C only are correct.
Answer:
D. All of the above are correct
Explanation:
In many places, rhinoceros are illegal hunted down and their horns are illegal black market at a very high price. It is believed that the rhino horns have some medicinal value.
In the context, in several South African countries, the government have imposed heavy penalties on people who are caught in hunting of the rhinoceros. Thus this imposing of the penalties will increase the cost of the rhino horn in the black market, it will also makes the poaching business more lucrative as the demand on the horns and the cost of the hunters will be more. Penalties will also effect the supply of the rhino horns as many people will now stop poaching the rhinos. Thus the supply will decrease.
Therefore the correct option is (D).
cenario 10.1.
Buckyballs was marketed as a desk toy made up of small magnetic spheres. Adults could play with the magnetic spheres and create different shapes. Labeling on Buckyballs packaging clearly stated that this product should be kept away from children. As concerns for safety grew, Buckyballs placed even more warning labels on the packaging. Despite this fact, thousands of children who thought the magnets were candy ingested them. The magnets could cause fatal complications inside the body. If more than one was swallowed, they could attract one another inside the stomach, creating tearing and other complications. Despite all the warnings, the Consumer Product Safety Commission ruled the product was too dangerous and filed a lawsuit. The company that made Buckyballs discontinued the office toy.
Refer to Scenario 10.1. Buckyballs was marketed as a desk toy, and many consumers placed them on their desks at work. Despite this fact, Buckyballs should be classified as a consumer product.
(true or false)
The statement is true. Buckyballs should be classified as a consumer product because they were marketed and sold to individual consumers for personal use as a desk toy.
Consumer products: Consumer products refer to goods purchased by individuals for their own use. They can be classified into three categories based on the shopping habits of consumers, namely convenience goods, shopping goods, and specialty goods. Consumer products include anything that individuals purchase and use on a daily basis, such as food, clothing, and appliances.
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Write any three differences between indigenous or local technology and modern technology.
The following five distinctions exist between modern and local technology:
Local technology
1. Local technology refers to the tool that people utilized in the past to facilitate their tasks.
2. The environment wasn't harmed by the use of conventional technology.
3. No energy crisis was noticed when conventional technology was used.
4. Local technology was predicated on guesswork and constraints.
5. The use of conventional technologies supported social cohesion and independence.
It was discovered that people once used water mills, steam engines, and ploughs for farming.
Modern technology:
1. Modern technology refers to the technological innovation used in the modern world.
2. The environment is polluted by the use of contemporary technology.
3. The energy crisis resulted from it.
4. The foundation of contemporary technology, in fact, experience, and analysis.
5. People are becoming more reliant on contemporary technology.
Modern technology includes, among other things, computers, powerful machinery, and automobiles.
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Can you redo this Question Iron Works, Inc. manufactures two products made from steel and receives 2000 pounds of steel each month. It takes 2 pounds of steel to make a unit of product 1, and it takes 3 pounds of steel to make a unit of product 2. The unit profits for product 1 and product 2 are $100 and $200, respectively. Each month the manufacturer has a contract calling for at least 60 units of product 1. At most 720 units of product 2 may be produced by the firm's facilities. Using the steps for optimization modeling based on chapter 4 of the data smart text, find the monthly production quantities of product 1 and product 2 to maximize profit from these products. Show Excel Formulas Please!!! and can you also include the whole excel sheet with all the steps
The constraint can be written as: X₂ ≤ 720
Iron Works, Inc. is a manufacturer that produces two products, product 1 and product 2, using steel as the raw material. The company receives a monthly supply of 2000 pounds of steel. The production of product 1 requires 2 pounds of steel per unit, while product 2 requires 3 pounds of steel per unit. The unit profits for product 1 and product 2 are $100 and $200, respectively. The company has a monthly contract that requires a minimum production of 60 units of product 1, and the maximum production of product 2 is limited to 720 units. Our goal is to determine the optimal monthly production quantities of product 1 and product 2 that maximize the total profit.
Step 1: Define the decision variables:
Let's denote the monthly production quantities of product 1 and product 2 as X₁ and X₂, respectively. These are the variables we need to determine.
Step 2: Formulate the objective function:
The objective is to maximize the total profit. The profit from product 1 can be calculated by multiplying the number of units produced (X₁) by the unit profit ($100). Similarly, the profit from product 2 is given by the number of units produced (X₂) multiplied by the unit profit ($200). Therefore, the objective function can be written as:
Total Profit = (100 * X₁) + (200 * X₂)
Step 3: Formulate the constraints:
a) Steel constraint: The total amount of steel used for product 1 and product 2 should not exceed the available supply of 2000 pounds. The constraint can be written as:
2 * X₁ + 3 * X₂ ≤ 2000
b) Minimum production constraint: The company has a contract requiring a minimum production of 60 units of product 1. This constraint can be expressed as:
X₁ ≥ 60
c) Maximum production constraint: The maximum production of product 2 is limited to 720 units. This constraint can be written as:
X₂ ≤ 720
Step 4: Set up the Excel spreadsheet:
Create an Excel spreadsheet with the following columns: A (Variable), B (Formula), and C (Value). Enter the following data into the spreadsheet:
A₁: X₁ (Product 1 Quantity)
A₂: X₂ (Product 2 Quantity)
B₁: =(100*A₁) + (200*A₂) (Total Profit)
B₂: Formula for the steel constraint: =2*A₁ + 3*A₂
B₃: Formula for the minimum production constraint: =A₁
B₄: Formula for the maximum production constraint: =A₂
C₁: Leave it blank
C₂: 2000 (Steel supply)
C₃: 60 (Minimum production of product 1)
C₄: 720 (Maximum production of product 2)
Step 5: Set up Solver in Excel:
To find the optimal production quantities, we will use the Solver tool in Excel. Follow these steps to set up Solver:
1. In Excel, click on the "Data" tab, and then click on "Solver" in the "Analysis" group. If you don't see Solver, you may need to install the add-in first.
2. In the Solver Parameters dialog box, set the following:
- Set Objective: B₁ (Total Profit)
- To: Max
3. Add the following constraints:
- B₂ ≤ C₂ (Steel constraint)
- B₃ ≥ C₃ (Minimum production constraint)
- B₄ ≤ C₄ (Maximum production constraint)
4. Click on "Solve" and Solver will find the optimal values for X₁ and X₂ that maximize the total profit.
Step 6: Interpret the results:
Solver will update the values of X₁ and X₂ in the spreadsheet cells A₁ and A₂, respectively, to reflect the optimal production quantities. The corresponding total profit will be displayed in cell B₁.
Conclusion:
By following these steps, you can set up an Excel spreadsheet with formulas and use Solver to find the optimal production quantities of product 1 and product 2 that maximize the total profit. The Solver tool will adjust the values of X₁ and X₂ to satisfy the constraints and achieve the best possible outcome.
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Which of the following should show a profit in order for a financial institution to give a the company a loan
a) income statement
b) rent expense
c) accelerated depreciation
d) accounts receivable
Answer:
A I think not really sure hope this helps you
nursing is a human service .clarify it
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Nursing is a human service. As in nursing we help the patients to get well. Not only for salary, they personly also try to help the patient with a lot care. Some nurses also treat the patient as their own family. Thus, nursing is a human service.
1.What is MONEY?
2.did MONEY help you?
pls ans im back
Which of the following would not be considered a typical BOP transaction?
A) A U.S. tourist purchases gifts at a museum in London.
B) The U.S. subsidiary of European financial giant, Credit Suisse, pays dividends to its parent in Zurich.
C) Toyota U.S.A. is a U.S. distributor of automobiles manufactured in Japan by its parent company.
D) All are example of BOP transactions.
All of the given options would be considered typical Balance of Payments (BOP) transactions. So., the correct option is D) All are examples of BOP transactions.
Option A involves a U.S. tourist purchasing gifts in London. This transaction represents an outflow of funds from the U.S. to the United Kingdom, which would be recorded as a debit in the BOP.
Option B describes a subsidiary in the U.S. paying dividends to its parent company in Zurich, Switzerland. This transaction represents an outflow of funds from the U.S. to Switzerland, which would also be recorded as a debit in the BOP.
Option C involves Toyota U.S.A., a U.S. distributor, selling automobiles manufactured by its parent company in Japan. This transaction represents an inflow of funds from the U.S. to Japan, which would be recorded as a credit in the BOP.
In summary, all of the given options involve economic transactions between residents of different countries, resulting in inflows or outflows of funds. Therefore, they would be considered typical Balance of Payments transactions.
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Down Payment and Loan Payments. Lucas wants to buy a used car that will cost $5,500. How much wil his monthly payment be if he puts $2,100 down and finances the remainder at 6% for two years? His monthly payment will be $______(Round to the nearest cent)
Lucas' monthly payment for financing the remainder of the car price would be approximately $154.08 (rounded to the nearest cent).
To calculate Lucas' monthly payment for financing the remainder of the car price, we need to consider the loan amount, interest rate, and loan term.
Given:
Car price: $5,500
Down payment: $2,100
Loan amount: Car price - Down payment = $5,500 - $2,100 = $3,400
Interest rate: 6% per year
Loan term: 2 years
To calculate the monthly payment, we can use the formula for calculating the monthly payment on a fixed-rate loan:
Monthly Payment = (Loan Amount * Monthly Interest Rate) / (1 - (1 + Monthly Interest Rate)^(-Loan Term in Months))
First, let's calculate the monthly interest rate by dividing the annual interest rate by 12 (number of months in a year):
Monthly Interest Rate = 6% / 12 = 0.06 / 12 = 0.005
Next, let's calculate the term of the loan in months:
Loan Term in Months = Loan Term in Years * 12 = 2 * 12 = 24 months
Now, we can plug in the values into the formula to calculate the monthly payment:
Monthly Payment = ($3,400 * 0.005) / (1 - (1 + 0.005)^(-24))
Using a calculator or spreadsheet, we can evaluate this expression to find the monthly payment.
Monthly Payment ≈ $154.08
Therefore, Lucas' monthly payment for financing the remainder of the car price would be approximately $154.08 (rounded to the nearest cent).
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One of the biggest concerns for farmers is which of the following?
A. The weather
B. Physical labor
C. Hiring labor
Answer:
A
Explanation:
Phiyscal labor can be a concern but not that big cause you can always have more workers and C hiring labor isn't as hard as people seem if you find some one willing it easy esspecialy if its a smalll farm and i belive its A becuase the weather is unpredictable and climat change one day it can be snowiing the next its pouring rain and the upcoming climate change we're facing will i have drastic effects on farms
consider a company that uses market-based forecasting to estimate future exchange rates. the forward rate is a good predictor of the future spot rate. true false
The answer is true. Empirical evidence suggests that the forward rate is a reliable predictor of future spot rates.
The forward rate reflects the expectations of the market participants regarding future exchange rates. It incorporates all available information about the market conditions and reflects the market's consensus about the future exchange rate.
There are times when the market conditions change suddenly, and the forward rate fails to predict the future spot rate accurately. Therefore, it's essential to understand the limitations of market-based forecasting and use other methods to complement the predictions made using the forward rate.
In conclusion, market-based forecasting is a useful technique for predicting future exchange rates. The forward rate is a good predictor of the future spot rate, although it's not a perfect one. Market participants should use other methods in conjunction with the forward rate to get a better understanding of the expected future exchange rates.
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What safety device should be worn when there is danger of fragments being thrown?
Answer:
gloves i think
Explanation:
assume a nominal interest rate on one-year u.s. treasury bills of 2.60% and a real rate of interest of 1.00%. using the fisher effect equation, what is the approximate expected rate of inflation in the u.s. over the next year? a) 2.10% b) 2.05% c) 1.60% d) 1.00%
The approximate expected rate of inflation in the U.S. over the next year is 1.60%.
The Fisher effect equation helps us estimate the expected rate of inflation by considering the nominal interest rate and the real interest rate. The equation states that the nominal interest rate is equal to the sum of the real interest rate and the expected rate of inflation.
Given that the nominal interest rate on one-year U.S. Treasury bills is 2.60% and the real rate of interest is 1.00%, we can use the Fisher effect equation to find the approximate expected rate of inflation.
Nominal interest rate = Real interest rate + Expected rate of inflation
2.60% = 1.00% + Expected rate of inflation
Subtracting 1.00% from both sides, we get:
Expected rate of inflation = 2.60% - 1.00% = 1.60%
Answer: c) 1.60%
This estimation helps us understand the potential impact of inflation on the purchasing power of money and can guide financial decision-making.
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How can choosing the right institution help you manage money effectively?
Answer:
You may get a better job, or it may make you more responsible. The money is the main thing, you will get paid better, so you wont have to worry abt money i guess.
Explanation:
Susan invested $50,000 and Bill invested $150,000. Why did Susan have a higher balance at the age of 65?
The reason Susan had a higher balance at the age of 65 is because she invested earlier than Bill.
What is an Investment?An investment refers to an act of dedicating an asset for the hope of attaining an increase in value over a period of time.
In this case, even with lower investment value, Susan will be able to have higher balance because she invested for longer period than Bills.
In conclusion, Susan had a higher balance at the age of 65 is because she invested earlier than Bill.
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What are cover letters also called?
Letter of appreciation
Letter of preparation
Letter of anticipation
Letter of application
Answer:
A
Explanation:
because they are good
bzzagent mini case: bzzagent is a word-of-mouth marketing agency that runs brand advocate programs for global brands. it recently partnered with a company to pair its social media and word-of-mouth insights with shopper loyalty data. the results indicated that consumers who were making repeat purchases were also more engaged and created a higher volume of advocacy. the information from this study is important to marketers, who are trying to find ways to engage advocates and influencers, especially via social media. marketers are trying to figure out the characteristics of individuals who are most likely to influence others. in the bzzagent mini case, marketers are interested in finding individuals who influence others. the process by which one influential person informally influences the actions or attitudes of others is known as . question 28 options: a) referencing b) opinion leadership c) blogging d) positioning e) targeting
Marketers are searching for people who have sway over others in the BZZAGENT MINI CASE. Opinion leadership is the method by which one powerful individual subtly shapes the behaviors or attitudes of others.
The act of interpreting media messages or content for less sophisticated media users is known as opinion leadership. Usually, individuals who agree with opinion leaders hold them in high regard. The two-step communication flow idea put forward by Paul Lazarsfeld and Elihu Katz is where opinion leadership originates. Robert K. Merton, C. Wright Mills, and Bernard Berelson were significant contributors to the development of the opinion leader concept. The diffusion of innovations, concepts, or commercial goods is attempted to be explained by a number of models, some of which include this hypothesis.
Because we frequently ask for advice from others in a social setting, opinion leaders play a crucial part in information flow. The target audiences do not directly receive information from the media.
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Explain incentives that can influence firms to use an international strategy. Those Incentives are listed in the text. Reflect on your organization and identify only the incentives that relate to your organization.
The relevant incentives for my organization's international strategy are market expansion, resource acquisition, and risk diversification.
Here is a list of common incentives that can influence firms to use an international strategy. Please review the list and identify the incentives that relate to your organization:
1. Market Expansion: Your organization may seek international markets to expand its customer base and reach new consumers.
2. Resource Acquisition: If your organization requires access to specific resources, such as raw materials or talent, it may choose to operate internationally to secure those resources.
3. Cost Reduction: International operations can provide cost advantages, such as lower labor costs or favorable tax environments, which can improve your organization's competitiveness.
4. Economies of Scale: Expanding internationally can allow your organization to achieve economies of scale by increasing production volume and spreading fixed costs over a larger market.
5. Competitive Advantage: Operating internationally may help your organization gain a competitive edge by entering new markets before competitors or leveraging its brand reputation.
6. Risk Diversification: International operations can help your organization diversify risks by operating in multiple countries, reducing its exposure to country-specific economic or political uncertainties.
Review the above incentives and select the ones that are relevant to your organization's international strategy.
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What do most states use as a general guideline for punitive damages?
A.Four times the amount of special damages
B.One half of the amount paid for proven damages
C.Ten times the amount of special damages
D.An amount equal to special damages
Answer:
four times
Explanation:
just answered
Answer:
A. Four times the amount of special damages
Explanation:
Creating an emergency fund to pay for unexpected expenses is known as __________________________________.
a
Backdoor Budgeting
b
"Saving for a Rainy Day"
c
Opening a Mutual Fund
d
Placing your money in a CD
Answer:
b
"Saving for a Rainy Day"
Explanation:
"saving for rainy day' is a phrase that means putting some money a side for use in times of need. The phrase encourages people to save money for emergency use. As a rule of thumb, one should have at least three times their normal income as savings.
jim's company has recently opened branch offices in several countries where they had not been located in the past. what technique might best help those reading jim's report on the company's growth to quickly grasp this progress?
The technique that might best help those reading Jim's report on the company's growth to quickly grasp this progress is the use of visual aids.
Visual aids are a great way to represent data and information so that it can be easily understood by the readers. It involves the use of images, graphs, charts, diagrams, and videos to present information in a more effective manner. In Jim's report, he can use graphs to represent the growth of the company in each of the new locations where they have opened their branches.
The graph could represent the number of customers, revenue generated, and profits from each branch in the various countries where they have opened branches. Jim could also use images to show the locations of each branch, so readers can quickly get a better idea of the countries where the branches were opened.
In conclusion, the best technique that might best help those reading Jim's report on the company's growth to quickly grasp this progress is the use of visual aids.
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Posttest
Your boss called you inta meeting this morning to tell you that he feels that you are not being as productive as you could be. He thinks you are wasting time on things that don't matter. What is the best strategy to address his concerns and to help you overcome whatever productivity issues you may have?
Approach your boss's concerns with an open mind, being transparent about your work activity, taking ownership of your progress, setting goals and deadlines, prioritizing your work, and using productivity tools can help to address any productivity issues you may be facing.
Tips that may help you approach the conversation with your boss in a productive manner:1. Listen carefully to your boss's concerns: Your boss's feedback is valuable, and it's important to listen to what they have to say about your productivity. Make sure to fully understand their concerns before responding.
2. Be transparent about your work:- Provide your boss with a detailed account of your work activities so that they can get a better sense of what you are spending your time on.
3.Take responsibility for improvement: As an employee, it's important to take ownership of your productivity issues and find solutions to any weaknesses that have been identified. Instead of blaming external factors, focus on what you can do differently to become more efficient and productive.
4. Set clear goals and deadlines: Work with your boss to set specific goals and deadlines for your work. This will help you stay focused and give you a clear sense of what you need to accomplish each day.
5. Prioritize your work: There are always going to be distractions and competing demands on your time, but it's important to prioritize your work based on what is most important and what will have the greatest impact on achieving your goals.
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What are the three common approaches for assigning overhead costs to products?
The 3 most common methods of assigning overhead costs to products are
1. Plant wide overhead rates
2. Departmental overhead rate
3. Activity-based costing
The plant huge overhead fee is the easiest method but the activity-based costing method is greater correct in assigns overhead expenses to product than the alternative technique. interest-based totally costing include 2 degrees of overhead value assignments. inside the first level, charges are allocated to activity cost pools. inside the second stage, costs are allotted from the activity cost pools to merchandise.
The departmental method are not very correct in assigning overhead prices in instances in which a business enterprise has a no. of merchandise and complicated overhead costs because the departmental method commonly depend on on a single measure of activity as the basis for allocating overhead fee to products.
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what effect will the aquisition of treasury stock have on stockholders equity and earnings per share
Acquisition of treasury stock reduces the number of outstanding shares and increases earnings per share, but it does not affect total stockholders' equity.
When a company acquires treasury stock, it buys back its own shares of stock from the market. This leads to a reduction in the number of outstanding shares of the company, which causes an increase in earnings per share (EPS) because earnings are divided among fewer shares. However, the acquisition of treasury stock does not affect total stockholders' equity because treasury stock is not considered an asset of the company.
The purchase of treasury stock reduces the total number of outstanding shares, thus increasing the EPS. Treasury stock is a contra-equity account and it is deducted from the stockholders' equity section of the balance sheet. However, the acquisition of treasury stock does not affect the total stockholders' equity. Therefore, it reduces the total shareholders' equity but increases earnings per share.
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suppose the nominal exchange rate between the japanese yen and the us dollar is 100 yen per dollar. also assume that a pound of rice (the only good that is traded) costs $2 in the us and 250 yen in japan. what is the real exchange rate between japan and the us?
The real exchange rate between Japan and the US is 125 yen per dollar, assuming the nominal exchange rate is 100 yen per dollar.
To calculate the real exchange rate between Japan and the US, we need to convert the prices of the goods using the exchange rates. Let's assume the price of a pound of rice in Japan is 250 yen, and the price of a pound of rice in the US is 2 dollars.
Real exchange rate between Japan and the US = Price of a pound of rice in Japan / Price of a pound of rice in the US
Real exchange rate between Japan and the US = 250 yen / 2 dollars
Real exchange rate between Japan and the US = 125 yen per dollar
Therefore, the real exchange rate between Japan and the US is 125 yen per dollar, assuming the nominal exchange rate is 100 yen per dollar.
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16. Pass Journal entries to rectify the following errors:
(i) Credit sale to Ram 170 credited to his account as 710.
(ii) Credit purchase from Shyam 229 recorded as 292.
(iii) Sales Book was undercast by 200.
(iv) A credit purchase of goods of 2,100 from Sohan posted as 1,200.
(V) Returns Inward Day Book had been cast 100 short.
Answer:
1. Dr Ram Account 540
Cr Suspense Account 540
2. Dr Shyam Account 63
Cr Purchase Account 63
3. Dr Suspense Account 200
Cr Sales Account 200
4. Dr Purchase Account 900
Cr Suspense Account 900
5. Dr Returns Inward Account 100
Cr Suspense Account 100
Explanation:
Preparation of the Journal entries to rectify the following errors:
(i) Credit sale to Ram 170 credited to his account as 710.
Dr Ram Account 540
Cr Suspense Account 540
(710-160)
(Being to record the credit sale to Ram 170 credited to his account as 710 now rectified)
(ii) Credit purchase from Shyam 229 recorded as 292.
Dr Shyam Account 63
Cr Purchase Account 63
(292-229)
(Being to record Credit purchase from Shyam 229 recorded as 292 now rectified)
(iii) Sales Book was undercast by 200
Dr Suspense Account 200
Cr Sales Account 200
(Being to record Sales Book undercast by 200 now rectified)
(iv) A credit purchase of goods of 2,100 from Sohan posted as 1,200.
Dr Purchase Account 900
Cr Suspense Account 900
(2,100-1,200)
(Being to record credit purchase of goods of 2,100 from Sohan posted as 1,200 now rectified)
(V) Returns Inward Day Book had been cast 100 short.
Dr Returns Inward Account 100
Cr Suspense Account 100
(Being to record Returns Inward Day Book that had been cast 100 short now rectified)
1. Ram Account 540 (710 - 170)
To Suspense Account 540
2. Shyam Account 63 (292 -229)
To Purchase Account 63
3. Suspense Account 200
To Sales Account 200
4. Purchase Account 900 (2,100 - 1,200)
To Suspense Account 900
5. Returns Inward Account 100
To Suspense Account 100
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