Answer: please refer to the explanation section for journals and notes
Explanation:
1 April
DR Inventory 23000
CR Trade Payable 23000
inventory is purchased on Free on Board Shipping terms, risks and Ownership of inventory transfers to Kerber Co the moment Wilkes company ships the inventory. inventory must be recognised
6 April
DR Freight costs 900
CR Bank 900
DR Inventory 900
CR Freight costs 900
Kerber Co Paid Freight costs of $900. There are two events happening in this transaction being the payment of freight costs and the capitalisation of freight costs. Freight costs are capitalised (included in the value of inventory) as they are costs necessary to get the inventory in to the premises of the customer (Kerber Co).
7 April
DR Equipment 26000
CR Creditor/Liability 26000
Kerber Co purchase inventory on credit. equipment is debited because Equipment is an asset and liability is credited.
8 April
DR Trade Payable 3000
CR inventory 3000
Damaged inventory returned will decrease inventory balance and also decrease the amount owed to the creditor (Wilkes Company)
. Trade Payable account is Debited and inventory account is credited to record the decrease in inventory and amount payable
15 April
DR Trade Payable 20000
CR Bank 20000
23000 - 3000 = 20 000
recording payment made to the Creditor for inventory purchased or settlement of the trade payable account
Answer:
Answer is 5. Even if a minor is allowed to disaffirm a contract for a necessary, the minor will still be held liable for the reasonable value of the necessary.
Refer below.
Explanation:
In the dispute between Sally and the owner of Dings and Dents, the following is true regarding the defense of Sally and her parents that the car was a necessary:
Even if a minor is allowed to disaffirm a contract for a necessary, the minor will still be held liable for the reasonable value of the necessary.
Answer:
An industrial union
Explanation:
Industrial unionism is a labour union organizing method through which all workers in the same industry are organized into the same union, regardless of skill or trade, that is it combines all workers, both skilled and unskilled, who are employed in a particular industry thus giving workers in one industry, or in all industries, more leverage in bargaining and in strike situations.
Answer: Board of Governors .
_______________________________
Answer:
7881 approx
Explanation:
YEAR CASH FLOW PV FACTOR @14.6% PRESENT VALUE
0 (110,000) 1 (110,000)
1 48,000 0.8726 41,885
2 52,500 0.7614 39,975
3 55000 0.6644 36,543
4 (900) 0.5798 <u> (522)</u>
Net Present Value +7881 approx
Note: The figures in brackets indicate cash outflow
Net Present value (NPV) refers to the excess of present value of cash inflows over present value of cash outflows.
Net Present Value is used as a tool for decision making. A project under consideration should be accepted if it's NPV is either zero or positive.