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inna [77]
2 years ago
15

During fiscal 2016, Shoe Productions recorded inventory purchases on credit of $337.8 million. The financial statement effect of

these purchase transactions would be to: Select one: a. Increase expenses (Cost of goods sold) by $337.8 million b. Increase liabilities (Accounts payable) by $337.8 million and decrease noncash assets (Inventory) by $337.8 million c. Increase liabilities (Accounts payable) by $337.8 million d. Decrease cash by $337.8 million e. Decrease noncash assets (Inventory) by $337.8 million
Business
1 answer:
Elanso [62]2 years ago
7 0

(C) Increase liabilities (Accounts payable) by $337.8 million.

<h3>What is inventory?</h3>
  • Inventory, often known as stock, refers to the items and supplies that a company keeps for the purpose of resale, manufacturing, or use.
  • Inventory management is largely concerned with establishing the shape and positioning of stocked products.
<h3>What is purchasing on credit?</h3>
  • A credit buys, sometimes known as purchasing anything "on credit," is a purchase made today that will be paid for later.
  • When you use a credit card, for example, your financial institution pays for the products or services upfront and then collects the payments from you later.
  • Purchase on credit refers to an increase in liabilities.

Therefore, the correct option is (C) Increase liabilities (Accounts payable) by $337.8 million.

Know more about credit here:

brainly.com/question/26867415

#SPJ4

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Natalija [7]

Answer:

a)

Explanation:

Based on all of the answers provided it can be said that all of the answers are valid keys to effective sales dialogue except for encouraging buyer feedback. This does not fall under the category of sales dialogue and instead comes after the sale has already been made, in order to find out how the customer is feeling about the product or service that they have purchased.

4 0
3 years ago
The financial statements of the Bramble Corp. report net sales of $473850 and accounts receivable of $56000 and $25000 at the be
SCORPION-xisa [38]

Answer:

the accounts receivable turnover for Bramble is 5.85 times

Explanation:

The computation of the account receivable turnover ratio is shown below

the account receivable turnover ratio is

= Net sales ÷ (Beginning account receivable + ending account receivable) ÷ 2

= $473,850 ÷ ($56,000 + $25,000)

= 5.85 times

Hence, the accounts receivable turnover for Bramble is 5.85 times

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3 years ago
In the context of the service encounter triad, the trade-off between the service organization and contact personnel is one of: a
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Answer:

B) efficiency versus autonomy

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The three parties that make up the service encounter triad are: the organization that provides the service, contact personnel (which are part of the organization) and the customers. For example, in a service encounter that tales place in a movie theater; a contact person (e.g. sales clerk) provides a service (e.g. movie ticket) to a customer.

A lot of physical vendors or clerks are being replaced by automated customer service machines that are cheaper for the company but have limited autonomy. For example, in movie theaters you can get your tickets from a machine, so unless you also buy a soda or candy, you don't need to interact with the sales clerk.

5 0
3 years ago
Tristan transfers property with a tax basis of $1,255 and a fair market value of $1,570 to a corporation in exchange for stock w
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Answer: $1531

Explanation:

The corporation's tax basis in the property received in the exchange will be the addition of Tristan's Tax basis and the gain that's recognized on exchange by Tristan.

The gain realized will be:

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= $315

Boot received = $276

Therefore, lower of $315 or $276 is $276.

The corporation's tax basis in the property received will then be:

= $1255 + $276

= $1531

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3 years ago
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Thanks bae (I’m confused)

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