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Nina [5.8K]
3 years ago
11

(a) On March 2, Blossom Company sold $853,600 of merchandise to Kingbird Company on account, terms 3/10, n/30. The cost of the m

erchandise sold was $540,300. (b) On March 6, Kingbird Company returned $114,200 of the merchandise purchased on March 2. The cost of the merchandise returned was $68,200. (c) On March 12, Blossom Company received the balance due from Kingbird Company.
Business
1 answer:
tester [92]3 years ago
8 0

Answer:

The answers are:

A) to record sales

Dr Accounts Receivable 853,600

Cr Sales Revenue 853,600

to record inventory

Dr Cost of Goods Sold 540,300

Cr Merchandise Inventory 540,300

B) to record sales returns

Dr Sales Returns & Allowances 114,200

Cr Accounts Receivable 114,200

to record inventory

Dr Merchandise Inventory 68,200

Cr Cost of Goods Sold 68,200

C) to record payment

Cr Cash 717,218

Cr Sales Discounts 22,182

Dr Accounts Receivable 739,400

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Answer:

D). Customers find it more comfortable to shop and easier to return unwanted items.

Explanation:

Electronic retailing or e-tailing offers the sale and purchase of goods and services online/internet while traditional mortar retailing proposed the goods and services to the customers through a street-side market and face-to-face medium. There are numerous advantages of the upheaval of online retailing like it offers convenient, and quick access to the stores at any time from any place of the world having internet. It saves the traveling time of the consumers and also reduces the infrastructural costs and develops competitiveness. Thus, as per the question, the option that does not display an advantage of e-tailing is option D as a return in brick-and-mortar was more convenient than e-tailing.

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3 years ago
Hakimo Corp., a manufacturer of audio equipment, has developed a unique wireless speaker system that runs on solar power. The sp
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Answer:

<u>discontinuous innovation.</u>

Explanation:

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3 years ago
Which of the following statements is NOT correct? Select one: a. After a 3-for-1 stock split, a company's price per share should
butalik [34]

Answer:

D is not correct statement.

Explanation:

The statement which is not correct is d. the stockholders are required to pay taxes on dividends even if they are to be reinvested. So this statement is not correct and the rest all statements are correct for example, statement a is correct because when there is stock split then the number of outstanding stock will increase where as price per share will fall because there will be more number of stock for 1 stock. Statement b is also correct because usually when there is stock repurchase it signals company management that the stock is undervalued.

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3 years ago
Read 2 more answers
Two annuities have equal present values and an applicable discount rate of 7.25 percent. One annuity pays $2,500 on the first da
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Answer:

$2681.30 approx.

Explanation:

The first annuity is case of annuity due

For the first annuity, $2500 + 2500 × cumulative present value factor at 7.25% for 14 years

= $2500 + 8.6158 × 2500

= $24040 approx

The second annuity is the case of deferred annuity wherein payments are made at the end of the year.

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2 years ago
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Answer:

The answer is given below;

Explanation:

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  Paid in capital in excess of par-common stocks    Cr.$41,800

   (64*950)-(1900*10)                                        

8 0
2 years ago
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