Answer: Cash $1,960
Sales returns and allowances $800
Sales discount $40
Accounts receivable $2,800
Explanation:
Sales = $2,800
Sales returns = $800
Discount rate = 2%
The final amount due will be:
= Sales- Sales returns
= $2,800 - $800
= $2,000
Sales discount = 2% × $2,000 = $40
Cash received will be:
Final amount due - Sales discount
= $2,000 - $40
= $1,960
The journal entry will be:
Debit Cash $1,960
Debit Sales returns and allowances $800
Debit Sales discount $40
Credit Accounts receivable $2,800
Answer:
$986.39
Explanation:
Given :
Value of items in inventory :
(7 * $52) + (19 * $53) + (25 * $28) + (18 * $65) = $3241
Number of items in inventory :
(7 + 19 + 25 + 18) = 69 units
Weighted average inventory cost :
$3241 / 69 = $46.971014
Number of commodity in hand at year end = 21 units
Amount of inventory at year end using average costing method :
Number of commodity * Average inventory cost
(21 * $46.971014) = $986.39
The amount of inventory at the end of the year according to the average costing method is $986.39
I will not be able to illustrate the graph in the dialog box but instead, the writer will describe the long-run equilibrium of transnet. Long-run equilibrium in economics focuses on the period of time where the resource is still available and what is its costs and quantity produced.
The answer is True
The four fundamental systems of civil law, common law, statutory law, and religious law—or mixtures of these—are typically the foundations of the present national legal systems. However, because each nation's legal system is molded by its distinct past, it contains distinctive variances. Comparative law is the name of the field of study that examines law just at level of legal systems.
Both civil law (also known as Roman law) and legal system systems can be regarded as the most prevalent in the globe. Civil law is the most prevalent in terms of both landmass and population, while common law is used by the most people of any single civil law system.
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(a) Total assets = Current assets + Fixed assets
Total assets = 2180 +9400 = 11,580
Total liabilities = Current liabilities + long term debt
Total liabilities = 1355+3990 = 5,345
According t the accounting equation, Stockholders equity = Total assets - Total liabilities = 11,580-5,345 = 6,235
Stockholders equity = $6,235
(b) Working capital = Current assets - Current liabilities
Working Capital = 2180-1355
Working Capital = $825
