Answer:
Inventory balance will be of 73,318
Explanation:
Inventory 75,400
Account payable 75,400
to record goods received
Account payable 1,300
Inventory 1,300
to record return of goods
Inventory 700
Cash 700
to record payment of freight
Account Payable 74,100
Inventory 1,482
Cash 72,618
to record payment of invoice within discount period
75,400 - 1,300 = 74,100
74,100 x 2% = 1,482
Inventory balance:
<em> DEBIT CREDIT</em>
75,400
1,300
700
1,482
<u><em>balance: </em></u>
73,318
Answer: Filling the blanks, we get:
A fixed exchange rate is one that is set by a country's central bank. A fixed exchange rate is achieved by the intervention of the central bank in the area of foreign exchange.
Explanation: In foreign exchange we have two types of exchange rates, we have the flexible exchange and fixed exchange rate. The flexible exchange rate is an exchange rate controlled by the forces of demand and supply. While on the other hand a fixed exchange rate is an exchange rate set by a country's government by making deliberate payments to keep the exchange rate fixed.
Answer:
The current and past missed preferred stock dividend payments must be made before a common stock dividend payment can be made.
Explanation:
Answer:
1. Meena should take the quantity discount since with such discount the EOQ will rise by just 1 unit from 20.5units to 21.5 units and a net gain of $49.18.
2. The EOQ without discount will be 20.5 units
Explanation:
EOQ=Square root of ((2xordering cost x demand)/ (Carrying cost))
Gains of accepting discount will be
i. ordering cost savings= (demand/quantity order) x ordering cost
= (660/360)*23=$42.16
ii. Price saving per item=0.18 x 660 =$118.80
total gain =$160.96
iii. Stockholding cost =300 x (23 x 0.91 ) x 0.18=$1,130.22
iv. Additional cost incurred by increasing order= 1,130.22-(300 x 23 x0.18)
=$111.78
Net gain= 160.96-111.78
= $49.18
