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Olenka [21]
3 years ago
5

On December 28, 2021, Videotech Corporation (VTC) purchased 12 units of a new satellite uplink system from Tristar Communication

s for $22,000 each. The terms of each sale were 2/10, n/30. VTC uses the gross method to account for purchase discounts and a perpetual inventory system. VTC paid the net-of-discount amount on January 6, 2022.
Business
1 answer:
andrew-mc [135]3 years ago
8 0

Answer:

$258,720

Explanation:

On January 6, 2022, VTC will pay the discounted amount of $258,720 because he paid the said obligation within the discounted period of 10 days based on the contract. Computation of said amount are as follow;

First, compute the gross amount

$22,000 x 12 units = $264,000

Second, compute the discount

$264,000 x 2% = $5,280

Lastly, deduct discount from the gross value to get the net amount of payment

$264,000 - $5,280 = $258,720 (ANSWER)

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Generally speaking, oligopolistic industries producing raw materials and semifinished goods usually offer differentiated product
LenaWriter [7]

Answer:

B) False

Explanation:

The correct phrase should be:

Generally speaking, oligopolistic industries producing raw materials and semifinished goods usually offer standardized products, while oligopolists producing consumer goods usually offer differentiated products.

An example of an oligopolistic industry that we all know about is the car industry. There are very few car companies in the world since only very large companies can actually manufacture cars. Car companies offer differentiated products.

8 0
3 years ago
Which of the following accurately describes
Setler [38]

Answer:

What accurately describes Shareholder's Equity is all of the above, because it's all just simplified/different terms for investment in one another company's business :3

Explanation:

:3

6 0
2 years ago
In the Vasquez Corporation, any overapplied or underapplied manufacturing overhead is closed out to Cost of Goods Sold. Last yea
Crank

Answer:

$69,000

Explanation:

Calculation for overapplied or underapplied manufacturing overhead

Using this method

Manufacturing overhead=Cost of Goods Manufactured-( Actualmanufacturing overhead cost-Applied manufacturing overhead cost to job)

Let plug in the formula

Manufacturing overhead=71,000-(27,000-29,0000)

Manufacturing overhead=71,000-2,000

Manufacturing overhead=$69,000 overapplied

Therefore Manufacturing overhead for the year will be $69,000 overapplied

6 0
3 years ago
High performing companies adjust strategies for changing customer needs before rivals. downgrade capabilities as competitive adv
marusya05 [52]

Answer:Adjust strategies for changing customer needs before rivals.

Explanation: HIGH PERFORMING COMPANIES ARE COMPANIES WHO EFFECTIVELY AND EFFICIENTLY UTILIZE THEIR RESOURCES IN ORDER TO REDUCE COST, WASTAGES and TIME LOST DURING THE PRODUCTION AND SUPPLY CHAIN PROCESSES ETC.

For a company to perform at a high level or standard,the company must effectively implement strategies that can adjust the company to perform at a level which will outperform it's rivals in meeting the needs of the customers before the rivals.

6 0
3 years ago
Given the following data, what is cost of goods sold as determined by the FIFO method?
Andrei [34K]

Answer:

The answer is D. $1,830

Explanation:

FIFO means First in First out.

It is one of the inventory methods along with LIFO(Last in First out), average weighted cost and specific identification.

FIFO literally means the inventory bought first will be the first to be sold. Leaving the last inventories bought as the ending inventory.

In this question, Cost of Sales according to FIFO is:

250 units x $6 = $1,500

30 units at $11 = $330

Total =. $1,830

Therefore, the cost of sales under this method is $1,830

8 0
3 years ago
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