1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
velikii [3]
3 years ago
6

Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the goods so

ld is $67,200. Shore Co. paid freight of $1,800. Journalize the entries for Shore and Blue Star for the sale, purchase, and payment of amount due. Refer to the appropriate company’s Chart of Accounts for exact wording of account titles
Business
1 answer:
Crazy boy [7]3 years ago
8 0

Explanation:

On the books of Shore Co

Cash A/c Dr $111,560

Sales discount A/c $2,240           ($11,2000 x 2%)

              To Accounts receivable A/c $113,800           ($112,000 + $1,800)

(Being cash is received)

On the books of Blue star

Accounts payable A/c Dr $113,800    ($112,000 + $1,800)

               To Merchandise inventory A/c $2,240              ($11,2000 x 2%)

                To Cash A/c $111,560

(Being cash is paid)

You might be interested in
Suppose that Italy and Sweden both produce jeans and stained glass. Italy's opportunity cost of producing a pane of stained glas
vichka [17]

Answer:

Based on the answer to the question, the only one of the given terms of trade (that is, price of stained glass in terms of jeans) that would allow both Sweden and Italy to gain from trade is 8 pairs of jeans per pane of stained glass because 8 pairs is more than 4 pairs, which will be attractive to ITALY and is less than 10 pairs which is a cheaper cost for SWEDEN.

Explanation:

1. Italy's opportunity cost of producing a pane of stained glass is 4 pairs of jeans while Sweden's opportunity cost of producing a pane of stained glass is 10 pairs of jeans

2. By comparing the opportunity cost of producing stained glass in the two countries, you can tell that SWEDEN has a comparative advantage in the production of stained glass and ITALY has a comparative advantage in the production of jeans.

3. Suppose that Italy and Sweden consider trading stained glass and jeans with each other. Italy can gain from specialization and trade as long as it receives more than <u>4 Pairs </u>of jeans for each pane of stained glass it exports to Sweden. Similarly, Sweden can gain from trade as long as it receives more than 0.1 pair of stained glass for each pair of jeans it exports to Italy.

4.Based on the answer to the last question, the only one of the given terms of trade (that is, price of stained glass in terms of jeans) that would allow both Sweden and Italy to gain from trade is 8 pairs of jeans per pane of stained glass because 8 pairs is more than 4 pairs, which will be attractive to ITALY and is less than 10 pairs which is a cheaper cost for SWEDEN.

4 0
3 years ago
Assume that as part of Hilton’s interview process, the company asks applicants how they would behave in hypothetical, hospitalit
ruslelena [56]

The interview in Hilton's process would be considered a situational interview, which is structured.

<h3>What is a situational interview?</h3>

This is a type of interview where the people that are being interviewed are asked hypothetical questions.

The questions that they are asked is usually to get to know how they would behave in given situations.

Read more on interviews here: brainly.com/question/6967429

4 0
3 years ago
The Office Supplies account had a balance at the beginning of year 3 of $4,000 (before the reversing entry). Payments for purcha
snow_lady [41]

Answer:

a. Office Supplies Expense a/c Dr. $750

Explanation:

We are provided that office supplies are recorded as an expense, in that case entry will be:

Office Supplies Expense A/c Dr.

                 To Cash A/c

After this, there is a valuation of closing balance of supplies in hand.

As per books = $4,000

As per inventory of supplies in hand = $4,750

The difference = $4,750 - $4,000 = $750

This will be recorded in Office supplies expense as in this account only the supplies are recorded.

Therefore correct option is

a. Office Supplies Expense a/c Dr. $750

4 0
3 years ago
What type of leader was Will Keith Kellogg? <br><br> Autocratic, Democratic, or Free Rein.
natali 33 [55]

Answer:

He was a Democrat and he was also a major leader in the progressive health reform

6 0
4 years ago
Callers should not be left on hold for longer than ________ minute(s). one two three four
balu736 [363]
<span>If an organization or an agency wants to be considered proper and reliable service center it must make sure that callers should not be loft on hold any longer than one minute. The service agent should be prompt with the replies and the solutions for the issues raised by the consumers.</span>
3 0
3 years ago
Other questions:
  • Deere &amp; Company, the maker of John Deere farm, construction, and lawn-care equipment, employs _________ engineers who work f
    8·1 answer
  • Which of the following would increase productivity? Group of answer choices A. an increase in the physical capital stock per wor
    14·1 answer
  • The income summary account has expenses of $65,000 and revenues of $55,000. The company had which of the following: Select one:
    7·1 answer
  • Your company receives advance payment in October for services that are provided during November. Which of the following statemen
    14·1 answer
  • What are the most common types of credit available to individuals and businesses?
    13·1 answer
  • The following information applies to the questions displayed below During April, the production department of a process manufact
    11·1 answer
  • What is the main purpose of performance appraisals and why do appraisal programs fail?
    11·1 answer
  • D.L Marx and​ Company, a manufacturer of quality handmade walnut​ bowls, has had a steady growth in sales for the past 5 years.​
    11·1 answer
  • Viết lý do chọn đề tài hay về chiến lược xúc tiến của công ty grab
    8·1 answer
  • The table below reports the total population in a country and the number of people in different groups as below:Total population
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!