Answer:
See explanation section
Explanation:
October 5 Merchandise Inventory Debit $4,700
Accounts Payable - Bramble Company Credit $4,700
<em>To record the merchandise Inventory purchase on account. As the company uses perpetual inventory system, merchandise inventory becomes debit instead of purchase account.</em>
October 8 Accounts payable Debit $720
Merchandise Inventory credit $720
<em>To record the return of defective goods to Bramble Company. (Using perpetual inventory system)</em>
Answer:
7.5 years
Explanation:
Payback is the period a project takes to recover its initial capital outflow.
The formula for calculating the payback period = Initial investments divide by net cash flow per period.
Payback Period = Initial Investments/ Net Cash Flow per Period
Payback period = $450,000/ $60,000
Payback period =7.5 years
Answer:
B. controlling
Explanation:
Controlling can be defined as that function of management which helps to seek planned results from the subordinates, managers and at all levels of an organization.
The controlling function helps in measuring the progress towards the organizational goals & brings any deviations, & indicates corrective action.
The function of control consists of those activities that are undertaken to ensure that the events do not deviate from the pre-arranged plans.
The controlling function that Synthesis Inc does is as follows:
periodically reviews the goals of the company: Measurement of actual performance.
During the process, the managers of the company analyze their current strategies as compared to their competitors strategies: Measuring actual performance with the pre-determined standard and finding out the deviations.
determine goals that they will pursue, and decide upon specific actions for each area of the company to take in pursuit of these goals:d. Taking corrective action.
Money in the United States of America is essentially a debt of: the Federal Reserve System and the banks.
<h3>What is the Federal Reserve System?</h3>
The Federal Reserve System is also referred to as the "Fed" and it was enacted into law by the Federal Reserve Act on the 23rd of December, 1913 by the U.S Congress. Also, it is just like all central banks and as such, it's considered as a United States government agency.
Basically, all the money in the economy of the United States of America is essentially a debt of the Federal Reserve System and all the chartered banks.
Read more on Federal Reserve here: brainly.com/question/23787400
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Answer:
The Journal entries are as follows:
(i) On May 4,
Accounts payable A/c Dr. $700
To cash $700
(To record the supplies)
(ii) On May 7,
Accounts receivable A/c Dr. $6,800
To service revenue $6,800
(To record the service revenue)
(iii) On May 8,
Supplies A/c Dr. $850
To accounts payable $850
(To record the purchase of supplies on account)
(iv) On May 9,
Equipment A/c Dr. $1,000
To cash $1,000
(To record the equipment purchased)
(v) On May 17,
Salary expense A/c Dr. $530
To cash $530
(To record the salary expense)
(vi) On May 22,
Repair expense A/c Dr. $900
To accounts payable $900
(To record the repair expense)
(vii) On May 29,
Prepaid Insurance A/c Dr. $1,200
To cash $1,200
(To record the prepaid insurance)
