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3 years ago

Goods in transit which are shipped f.o.b. shipping point should be

Business

2 answers:

mash [69]3 years ago

5 0

Answer: The correct answer is "B. included in the inventory of the buyer."

Explanation: Goods in transit which are shipped f.o.b. (free on board) shipping point should be included in the inventory of the buyer

If the goods are shipped F.O.B, as soon as the goods leave the seller's trade, the seller can declare the sale as completed and complete.

disa [49]3 years ago

3 0

Answer:

Included in the inventory of the buyer

Explanation:

Goods in transit simply refers to items that the seller has shipped, but the buyer has not received it yet. At the end of an accounting period, goods in transit are accorded special attention due to the fact that neither the seller or buyer has the product in their location at that point. In this light, it becomes necessary to look at the sales term to see if it states FOB destination or FOB shipping point. When the term states "FOB destination", then goods in transit are recorded as the seller's property. However, if the term states "FOB shipping point", then goods in transit are recorded as the buyer's property.

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E-Flix rents DVDs that are mailed out to customers upon demand. E-Flix has identified three activities involved in getting the v

bulgar [2K]

Answer:

b. $1.87

Explanation:

Number of order taking costs = $20,592

Number of orders = 187,200

Cost of activity

= $20,592 ÷ 187,200

= $0.11

The Statement of overhead allocated is given below:-

Number of orders = 17

Cost per activity = $0.11

Cost

= 17 × $0.11

= $1.87

Therefore, the overhead is applied to the Tucker family account for order taking costs $1.87

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3 years ago

If there are no excess reserves in the banking system and the Fed lowers the required reserve ratio, it follows that banks will

blagie [28]

Answer:

Excess reserves

Explanation:

Money supply in the economy is regulated by the central bank of Federal Reserve through various methods.

One of them is the use of reserve ratio.

Reserve ratio is the percentage of total deposit in a bank that commercial banks are required to keep aside and not use.

If there is no excess reserves and the Fed lowers required reserve ratio, it means banks will now have more money they can use to service customers.

The excess excess of the reserve can now the used to give out loans

3 0

2 years ago

Derek is launching his career with a job as a human resource assistant. he wants to earn certifications that will help him demon

34kurt

The answer is<u> "The Society for Human Resource Management and HR Certification Institute".</u>

While investigating prerequisites for resource management jobs, it before long ends up obvious that HR confirmation is rapidly moving from being liked to being required. This is an indication that associations, regardless of whether in the for-benefit or non-benefit part, are seeing proficient accreditation with an expanding level of regard.

In fact, HR certification is currently observed as a central expansion to any HR expert's resume, especially as the present experts in human asset administration confront complex difficulties, for example, an absence of qualified ability and the globalization of business.

There are a number of nationally recognized human resources designations, including:

Society of Human Resource Management (SHRM)

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3 years ago

When filing your tax return, what is the maximum amount you can deduct for a capital loss?.

AnnZ [28]

When filing your tax return, the maximum amount you can deduct for a capital loss is $3,000(for individuals and married filing jointly) or $1,500 (for married filing separately).

<h3>What is a tax return?</h3>

A tax return is such or more forms submitted to a taxing body that include earnings, outlays, and other crucial tax data.

Tax returns give taxpayers the option to determine their tax liability, plan out their tax payments, or ask for refunds for any taxes they have paid in excess of what is required.

Some characteristics is of tax returns are-

For just an individual or corporation having reportable income, such as wages, interests, dividends, capital appreciation, or other earnings, tax returns must typically be filed annually.
The tax return is just a document submitted to a taxing authority that lists earnings, outlays, and other pertinent financial data.
Taxpayers compute their tax liabilities, set up tax payments, and request refunds for overpaid taxes on their tax returns.
Tax returns must typically be filed yearly.

To know more about tax returns, here

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1 year ago

Russell Preston delivers parts for several local auto parts stores. He charges clients $1.30 per mile driven. Russell has determ

Lapatulllka [165]

Answer:

A. Determine how many miles Russell needs to drive to break even?

break even formula = total fixed costs / contribution margin

total fixed costs = $1,220
contribution margin = $1.30 - $0.29 = $1.01

break even formula = $1,220 / $1.01 = 1,207.9 ≈ 1,208 miles

B. Assume Russell drove 2,500 miles last month. Without making any additional calculations, determine whether he earned a profit or a loss last month.

if he drove 2,500 he made a profit because it is more than the break even point.

C. Determine how many miles Russell must drive to earn $2,135.00 in profit.

($1,220 + $2,135) / $1.01 = 3,321.7 ≈ 3,322 miles

D. Prepare a contribution margin income statement assuming Russell drove 2,500 miles last month.

total revenue $3,250

<u>- variable costs ($725)</u>

contribution margin $2,525

<u>- fixed costs ($1,220)</u>

net income $1,305

E. Use the above information to calculate Russell’s degree of operating leverage.

Degree of operating leverage = contribution margin / operating income = $2,525 / $3,250 = 0.7769 or 77.69%

8 0

3 years ago