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3 years ago

Described below are certain transactions of Sheridan Corporation. The company uses the periodic inventory system.

Business

1 answer:

Vesnalui [34]3 years ago

3 0

Answer and Explanation:

Feb 2

Dr PURCHASES ($69,500 X 98%)$68,110

Cr ACCOUNTS PAYABLE $68,110

Feb 16

Dr ACCOUNTS PAYABLE $68,110

Dr PURCHASE DISCOUNTS LOST $1,390

Cr CASH $69,500

Dec 31

NO ADJUSTMENT NECESSARY

April 1

Dr TRUCKS $50,000

Cr CASH $3,000

Cr NOTES PAYABLE $47,000

Dec 31

Dr INTEREST EXPENSE $4,230

Cr INTEREST PAYABLE $4,230

$47,000 PRINCIPAL X 12% INTEREST X 9/12 MONTHS = $4,230

May 1

Dr CASH 88,300

Dr DISCOUNT ON NOTES PAYABLE $9,840

CrNOTES PAYABLE $98,140

Dec 31

Dr INTEREST EXPENSE $6,560

Cr DISCOUNT ON NOTES PAYABLE $6,560

$9,840 DISCOUNT X 8/12 MONTHS (STRAIGHT-LINE) = $6,560

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Johnson Enterprises uses a computer to handle its sales invoices. Lately, business has been so good that it takes an extra 3 hou

azamat

Answer:

The old computer should be replaced since the differential amount of the replacing it with a new computer is $10,000

Explanation:

Old machine New machine Differential

amount

purchase cost $0 ($15,000) ($15,000)

operating costs year 1 ($24,600) ($19,600) $5,000

operating costs year 2 ($24,600) ($19,600) $5,000

operating costs year 3 ($24,600) ($19,600) $5,000

operating costs year 4 ($24,600) ($19,600) $5,000

<u>operating costs year 5 ($24,600) ($19,600) $5,000 </u>

TOTAL ($123,000) ($113,000) $10,000

4 0

3 years ago

A retail operation has an average gross margin of 35%. If the average monthly sales for the store is $200,000.00, what is the co

GarryVolchara [31]

Answer:

COGS= $130,000

Explanation:

Giving the following information:

A retail operation has an average gross margin of 35%.

Sales= $200,000.00

<u>To calculate the cost of goods sold, we need to use the following formula:</u>

Gross margin= sales - COGS

COGS= sales - gross margin

COGS= 200,000 - (200,000*0.35)

COGS= $130,000

8 0

3 years ago

What are the three most critical components that a marketer needs to examine to segment a market effectively?

Georgia [21]

1. Identifiability (and measurability)
2. Accessibility
3. Responsiveness

1. Identifiability
- the target market must be identifiable to determine which of the
consumers belong to the segment. The target market must be well-
defined and measurable, particularly in terms of population, income, and
age bracket.

2. Accessibility
- this refers to the ease of reaching the identified market segment in terms
of geography and economy with appropriate market strategies.

3. Responsiveness
- the target market should be evaluated if they will respond (i.e. purchase)
the products and services created for them. There is little point in
identifying a market, creating a product, and developing marketing
strategies if the consumers themselves see little value in what is being
offered to them. Thus, the products and services must meed the
consumers' or organizations' needs.

4 0

3 years ago

The National Chair Company manufacturers wooden chairs and sells them via their website. Their chairs are manufactured in a make

ludmilkaskok [199]

Answer:

The correct answer is letter "D": Flexible workforce.

Explanation:

Postponement manufacturing refers to a production process that delays the delivery of the product to the end-consumer. This is mostly applied by companies whose sales are based on customized orders. Therefore, before the products are sent to their owners they are personalized at their will. This method of work requires a flexible labor force since the wants of consumers from one order to the following.

6 0

3 years ago

Part of the decision to accept additional business should be based on a comparison of the incremental (differential) costs of th

postnew [5]

Answer:

TRUE

Explanation:

Marginal Benefit is addition to total benefit due to a business decision.

Marginal Cost is addition to total cost due to a business decision.

Marginal Benefit & Marginal Costs are determinants while considering a business decision. A decision will be taken if : Marginal Benefit ≥ Marginal Cost, as entrepreneurial decision maker would be better off or at least neutral while taking decision. If MB < MC , it is loss making for the entrepreneur to take that decision & hence is discouraged to take that.

6 0

3 years ago