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andrey2020 [161]
3 years ago
6

A company purchased inventory for $ 2 comma 000 from a vendor on​ account, FOB shipping​ point, with terms of 2​/10, ​n/30. The

company paid the shipper $ 200 cash for freight in. The company then returned damaged goods worth $ 400. The invoice was then paid eight days after the invoice date. Assuming that there was no beginning inventory​ balance, the cost of inventory would be​ ________. (Assume a perpetual inventory​ system.)
Business
1 answer:
Flauer [41]3 years ago
8 0

Answer:

Inventory would be 1, 768

Explanation:

2,000  goods

 +200  freight-in (A)

  -400  returned goods

 <u>   -32 </u> discount (B)

1, 768 net amount for inventory

<u>Notes:</u>

(A) The freight-in will be included in the inventory, as is a cost needed to have the inventory in the company's possession and be ready to use or sell.

(B) goods x discount rate

net goods 2,000 - 4,00 return = 1,600

discount for payment within 10 days 2%

Discount on purchase: 1,600 x 2% = 32

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A homeseller wants to net $75,000. The commission is 9%, the loan payoff is $450,000, and closing costs are $36,000. What must t
gregori [183]

Answer:

The home must sell for $616,500 to be able to settle all costs

Explanation:

The net to the formula can be used to ascertain the price of the property , the formula is given below:

Net amount=Sales price*(100%-commission rate)

The net to the seller in this case is the amount that seller would receive and be able to settle mortgage and closing costs and still be left with $75000

Net amount =$75000+$450000+$36000

                     =$561000

commission rate is 9%

$561000=sales price*(100-9%)

$561000=sales price*91%

sales price =$561000/91%

                  =616483.52

But to the nearest $100 is $616500

6 0
3 years ago
Indicate whether each of the following transactions represents an increase in net exports, a decrease in net exports, an increas
Alborosie

Answer:

Net export decreases and net capital outflow decreases

Net export increases and net capital outflow decreases

Net export decreases and net capital outflow increases

Net export increases and net capital outflow increases

Explanation:

Net export = export - import

export would comprise of goods and services produced in the US that are been sold to foreign countries

Import would comprise of foreign produced goods and services that are been sold in the US

Net export would increase when export occurs and decrease when import occurs

Net capital outflow measures the flow of funds in a country. It is the difference between purchase of foreign assets by the citizens of a country and the purchase of domestic assets by foreigners

Net capital outflow = purchase of foreign assets by citizens - purchase of domestic assets by foreigners

Net capital outflow is positive when purchase of foreign assets occur and negative when purchase of domestic assets occur.

1. the setting up of the factory is an import and there is a flow of funds into the US economy. Thus, net export and net capital flow decrease

2. A Apple computer is produced in the US. The sale to a German constitutes an export but there is a flow of fund into the US economy. net export increase and net capital outflow decreases

3. Sony is not produced in the US. the purchase of the TV constitutes an import and there is a flow of funds out of the US economy. Net export reduces and net capital outflow increases

4. The opening of the fashion company outlet in the UK constitutes an export and there is a flow of funds out of the US. Net export increases and net capital outflow increases

7 0
3 years ago
Suppose that when disposable income decreases by $2,000, consumption spending increases by $1500. Given this information, we kno
sdas [7]

Answer:

the marginal propensity to consume is 0.75

Explanation:

The computation of the marginal propensity to consume is shown below:

MPC = Change in consumption ÷Change in disposable income

where,

The Change  in consumption is 1500

ANd, the Change in disposable income is 2000

So,

MPC is

= $1,500 ÷ $2,000

= 0.75

hence, the marginal propensity to consume is 0.75

4 0
3 years ago
To qualify for the quantity discount, which of the following may not be joined together under the definition of any person?
Sedaia [141]

Answer:

C. Father and his 35-year-old son investing in separate account.

Explanation:

Quantity discount when offered relates to one particular account, and not multiple accounts at a time.

In a transaction joint accounts are called as single person where there is only one main account in consideration and no secondary account exists for the same.

As in the given options,

Option A of husband and wife investing in a joint account means a single account is made of which both the husband and wife are controllers.

Option B is of UTMA account which is made for the benefit of the minor child, although involves two people that is parent and child, but is run individually by the parent and is a single account.

Further Option C provides for separate investment accounts , which means two different accounts and therefore are completely different one of father and another of son, thus do not qualify of quantity discount jointly, either of the one account can claim the quantity discount as a person.

4 0
3 years ago
explain on how the media can influence public opinion of sports personalities in both a positive and a negative way...
BabaBlast [244]
It can influence public opinion in a positive way by showing classic stories of kids who come from poor families and how it motivated them to stay in school and perhaps even go to college. It can influence public opinion in a negative way by highlighting the use of dangerous performance enhancing drugs (steroids) as well as a hyper-macho culture which has sometimes been seen to encourage bullying or sexual assault.
8 0
3 years ago
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