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mihalych1998 [28]
1 year ago
9

heywood yapinchme works in the it department at pain, inc. after finding out that the company is planning to purchase four more

computers for the accounting department, heywood bought four computers from a friend for $1,200. then, using his brother's name and address as vendor information, he resold the computers to pain for $2,300. this type of scheme is known as a(n):
Business
1 answer:
mash [69]1 year ago
6 0

Then, using his brother's name and dealing with seller records, he resold the computer systems to ache for $2, three hundred. this form of scheme is called a(n):d) Turnaround sale

A vendor, also known as a dealer, is an individual or business enterprise that sells goods or services to someone else within the economic manufacturing chain.

A business enterprise or a man or woman who sells a terrific or a carrier is a supplier. companies may promote to different companies, or they may be outlets that promote immediately to purchasers. An instance of a seller is a company that gives the stock to boutique apparel shops. Key takeaways. A vendor is a person or business that purchases goods and services from distributors and resells those gadgets to purchasers or different businesses. The 5 varieties of vendors are manufacturers, wholesalers, outlets, carrier and preservation vendors, impartial carriers, and alternate display representatives.

Learn more about vendor here:

brainly.com/question/28787369

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On January 1, 2017, Sage Co. enters into a contract to sell a customer a wiring base and shelving unit that sits on the base in
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Answer:

<u>January 1, 2017</u>

Debit: Accounts Receivable $2800

Credit: Deferred Revenue[Wiring Base] - $1120

Credit: Deferred Revenue[Shelving Unit] - $1680

Narration: Contract Detail and invoicing of the client.

<u>February 5, 2017</u>

Debit Deferred Revenue[Wiring Base] - $1120

Credit Revenue Account - [Wiring Base] - $1120

Narration: Revenue recognition of Wiring Base delivered to customer

<u>February 25, 2017</u>

Debit Deferred Revenue[Shelving Unit]- $1680

Credit Revenue Account - [Shelving Unit] - $1680

Narration: Revenue recognition of Shelf delivered to customer

<u>February 25, 2017</u>

Debit: Bank - $2800

Credit: Accounts Receivable - $2800

Narration: Payment received in settlement of contract fully delivered

Explanation:

The question is an example of a Performance Contract.

A Performance Contract is an agreement with a customer by a vendor to discharge a service or provide goods that are distinct from each other. The accounting for this obligations will therefore be recorded and recognized separately.

It is also important to note that the services or goods must be separately identifiable and the customer must be able to derive from each goods on individually or jointly.

The rule is to

  1. Recognize the contract and invoice amount with the customer as Deferred Income.
  2. Identify the distinct obligations and services to be provided.
  3. Identify the transaction amount for each service or good.
  4. As each obligation is met, the revenue is finally recognized and transferred from Deferred income.
3 0
3 years ago
Zwick Company bought 25,000 shares of the voting common stock of Handy Corporation in January 2021. In December, Handy announced
sp2606 [1]

Answer:

$125,000

Explanation:

Zwick company bought 25,000 shares of Handy corporation

In 2021 Handy corporation reported $208,100 net income

The cash dividend reported is $5.00 per share on all its 208,000 shares

Therefore the Zwicks company dividend revenue from Handy corporation in December 2021 can be calculated as follows

= 25,000 shares × $5.00

= 125,000

Hence Zwick's dividend revenue from Handy corporation is $125,000

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3 years ago
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Which category in Maslow's hierarchy includes basic survival needs such as air, food, water, and shelter?
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the answer is : A

The Physiological category in Maslow's hierarchy includes basic survival needs such as air, food, water, and shelter.

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3 years ago
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Find the present value of $7,000 in 7 months at 9% interest
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Answer:

= principle \times rate \times time \\  = 7000 \times  \frac{9}{100}  \times 7 \\  = 4410 \: dollars

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Is interest on loan an expense or a liability....Please help​
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Answer:

expense

explanation :

when we're about loan we are talking about a business or a person who is taking a loan. in this case the person or the firm pay interest on the loan.

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