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Artemon [7]
2 years ago
13

When using the gross method, the journal entry to record taking a discount when paying for goods previously purchased on account

includes a ______. (Check all that apply.)
Business
1 answer:
bagirrra123 [75]2 years ago
4 0

Good record entry is important in business, adjusting entries will include record of goods that was previously purchased.

<h3>What is Journal entry?</h3>

Journal entry contains business details or data to a single business transaction. It includes the date, the amount payable for a particular good and the amount to be debited.

Adjusting entries include records that has changes to accounts that are not otherwise accounted for in the journal earlier.

Therefore, Adjusting entries will record taking a discount when paying for goods previously purchased.

Learn more on Journal entry here,

brainly.com/question/14279491

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For a firm like project repat, one of the advantages of incorporation is.
Scrat [10]

One of the advantages of incorporation for a company with project repatriation is limited liability, which protects the private assets of owners and stakeholders if the company goes bankrupt.

<h3 /><h3>Limited liability</h3>

It is a legal framework that protects the attachment of shareholders' private assets to pay the company's debts if the company goes bankrupt, the company's assets can be pledged in this situation.

Therefore limited liability is a legal framework that generates greater security and attracts more investors.

The correct answer is:

  • Limited liability

Find out more information about limited liability here:

brainly.com/question/7302239

4 0
3 years ago
A master production schedule quantity of 300 units will arrive in week 6. Weekly demand over weeks 3 through 10 is forecasted at
Daniel [21]
The correct answer is C) 300.
7 0
3 years ago
The Vintage Laundry Company purchased $6,500 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June
Mazyrski [523]

Answer:

D.) debit Supplies Expense. $5,500; credit Supplies, $5,500

Explanation:

First, let's talk about the amount.

On June 2 they purchased supplies worth $6,500 and recorded it as an ASSET. Debited on "Supplies" Account

Then on June 30, only $1,000 is on hand. That means that $5,500 worth of supplies must have been used (Solved as 6,500 less 1,000)

Now, the entry should reduce the "Supplies" Account since there were only $1,000 left. So it's correct to credit Supplies for $5,500 to reduce $6,500 into $1,000 worth.

The corresponding debit would consequently be "Supplies Expense" since $5,500 worth of supplies was used for the month.

3 0
3 years ago
Of all the types of managers, managers of global social media campaigns are the ones who need not be aware of the cultures of th
Eduardwww [97]

Answer:

False

Explanation:

Of all the managers, managers of global social media campaigns are the ones who need to be most aware of the cultures in the countries in which they operate.

6 0
3 years ago
What is the present value (PV) of $50,000 received eighteen years from now, assuming the interest rate is 4% per year
LuckyWell [14K]

Answer:

$24,681.41

Explanation:

In this question, we use the present value formula which is shown in the spreadsheet.  

The NPER reflected the time period.

Provided  that,  

Future value = $50,000

Rate of interest = 4%

NPER = 18 years

The formula is presented below:

= -PV(Rate;NPER;PMT;FV;type)

So, after solving this, the answer would be $24,681.41

8 0
3 years ago
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