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cluponka [151]
3 years ago
14

What is the term used to describe amounts ima business owes to suppliers?

Business
1 answer:
Mama L [17]3 years ago
4 0

Answer:

Accounts Payable: Describes all money a business owes to vendors and suppliers for purchases of goods and services made on credit. Often listed in sum on the balance sheet as “current liability"

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The cost accountant for Angie’s Apparel has compiled the following information for last month's operations. Administrative costs
morpeh [17]

Answer:

Given that,

Administrative costs = $72,000

Merchandise inventory, July 1 = 28,000

Merchandise inventory, July 31 = 25,000

Merchandise purchases = 630,000

Sales commissions = 43,500

Sales revenue = 944,000

Store rent = 13,900

Store utilities = 3,100

Transportation-in costs = 5,300

1. Cost of goods sold statement:

For the Month Ended July 31,

Total cost of goods purchased = Merchandise purchases + Transportation-in

                                                    = 630,000 + 5,300

                                                    = $635,300

Cost of goods available for sale = Merchandise inventory, July 1  + Total cost of goods purchased

                                                      = 28,000 + $635,300

                                                      = $663,300

Cost of goods sold = Cost of goods available for sale - Merchandise inventory, July 31

                                = $663,300 - $25,000

                                = $638,300

2.  Income statement:

For the Month Ended July 31,

Gross margin = Sales revenue - Cost of goods sold

                      = 944,000 - $638,300

                      = $305,700

Marketing and administrative costs = Administrative costs + Sales commissions + Store rent + Store utilities

                                                          = $72,000 + $43,500 + $13,900 + $3,100

                                                          = $132,500

Operating profit = Gross margin - Marketing and administrative costs

                           =  $305,700 - $132,500

                           = $173,200

4 0
3 years ago
C) Tình hình SX của DN Y trong năm báo cáo như sau:
aleksandr82 [10.1K]
Can you put this in English please
6 0
3 years ago
Suppose recent regulatory reforms relating to credit rating agencies are perceived to improve the reliability and accuracy of cr
damaskus [11]

Answer:

If the new reforms bring increase confidence of the investors then the company will have to incur lower borrowing costs as the investor will be available and vice versa.

Explanation:

Suppose that previously our company's credit rating was overrated. Due to recent regulatory reforms, my company achieved a lower credit rating and hence the investor confidence in our company dropped significantly. Now the investor is not interested to invest in my company and to urge them to invest in the company, they will be offered higher interest. If the reforms are going to impact our credit rating adversely then the borrowing cost will increase and vice versa.

Furthermore, Core Principle 3 says that the decsion making of the investor is based on the information that is readily available to him. This means if the reforms increase the access of the borrower through improved credit rating then it will be favourable for the company in terms of lower borrowing costs. If the reforms decrease the access of the borrower through depreciating credit rating then it will adversely affect the company in terms of lower borrowing costs and lower investment access.

5 0
3 years ago
ILL GIVE CROWN PLEASE HELP!!!!!!
Tom [10]

Answer:

it is A-you will pay more on the principal of the loan.

Explanation:

hope this helps!! i would really apprieciatehe crown

4 0
3 years ago
What are different types of expenditure and examples of each
tensa zangetsu [6.8K]
For the purpose of accounting, there are three types of expenditure. These are Capital Expenditure, Revenue Expenditure, and Deferred Revenue Expenditure.

Capital Expenditure is the amount incurred in acquiring long term assets like land, buildings, equipments (which are used for the purpose of earning revenues). These costs are reflected in the account of Property, Plant and Equipment.

Revenue Expenditure is cost incurred in one accounting year wherein the benefits are also enjoyed in the same period only. It does not increase the earning capacity of the business, instead, it maintains the existing earning capacity of said business. This expenditure is recurring in nature like salaries and wages, selling and distribution expenses.

Deferred Revenue Expenditure is a revenue Expenditure which has been incurred within the current accounting year but its benefit will be extended to a number of years. This cost  is charged to the Profit and Loss account. Example of this is advertising cost.
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3 years ago
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