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kow [346]
3 years ago
11

On May 10, 2017, Cosmo Co. enters into a contract to deliver a product to Greig Inc. on June 15, 2017. Greig agrees to pay the f

ull contract price of $2,000 on July 15, 2017. The cost of the goods is $1,300. Cosmo delivers the product to Greig on June 15, 2017, and receives payment on July 15, 2017. Prepare the journal entries for Cosmo related to this contract. Either party may terminate the contract without compensation until one of the parties performs.
Business
1 answer:
Lunna [17]3 years ago
4 0

Answer:

June 15th, 2017

accounts receivables      2,000 debit

            sales revenues                   2,000 credit

July 15th, 2017

cash                                    2,000 debit

          accouns receivables               2,000 credit

Explanation:

The contract is perform when Cosmo delvier the goods to Greig than aren't rejected. Greig accepted the good thus, the contract is valid from that date.

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antiseptic1488 [7]

Constitutions and, more specifically, anti-discrimination statutes represent public policy about equal employment opportunity (EEO).

These laws are in place at the federal, state, and local levels in the United States.

In terms of the employers or other entities they cover, the specific groups of people they defend, the transactions they regulate, and the kind and scope of legal remedies they offer, EEO laws differ widely from one location to another. When businesses engage employees, the philosophical idea of EEO is implied, at the very least.

WHAT IS AN "OPPORTUNITY" FOR WORK?

U.S. EEO rules forbid discrimination in terms and circumstances of employment on the basis of specified characteristics. As a result, "opportunities" can be found in a variety of employment circumstances, such as:

  • both inside and outside.
  • application forms for jobs.
  • interviewing potential employees.
  • pre-employment examinations
  • inquiries into backgrounds.
  • Hiring.
  • Compensation.
  • Benefits.
  • Employee services or perks (sometimes known as perquisites).
  • working circumstances.

To learn more about equal employment opportunity from the given link.

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8 0
1 year ago
An online bank is offering to pay 0.25 % interest per month on deposits. Your local bank offers to pay 0.75 % interest quarterly
Liono4ka [1.6K]

Both have the same interest rate which is 3%.

<h3>What is interest?</h3>
  • In finance and economics, interest is the payment of an amount above the repayment of the principal sum by a borrower or deposit-taking financial institution to a lender or depositor at a specific rate by a borrower or depositor.
  • It differs from a fee that the borrower may pay to the lender or a third party.

To find the higher interest rate:

Given that,

  • Interest rate per month = 0.25%
  • Interest rate per quarter = 0.75%

If we calculate the annual interest for monthly and quarterly rates, it will be:

Monthly

  • No. of months in a year = 12
  • Monthly rate = 0.25%

So,

  • Annual Interest = 0.25 × 12
  • = 3%

Quarterly

  • No. of quarters in a year = 4
  • Quarterly rate = 0.75%

So,

  • Annual Interest = 0.75 × 4
  • = 3%

Therefore, both have the same interest rate which is 3%.

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4 0
1 year ago
Me and my friend started a babysitting business in June. and so far we only got one job. Are we doing anything wrong? do people
BartSMP [9]
Maybe they need to gain more trust
3 0
3 years ago
Read 2 more answers
After a sluggish quarter, the Federal Reserve Bank decides to increase the money supply in the economy. When the money-creation
Maslowich

Answer:

20; $1 billion

Explanation:

Given that,

New funds = $20 billion

Required reserve ratio = 5%

Money multiplier:

= 1/Required reserve ratio

= 1/0.05

= 20

Initial money increase by:

= Funds wants to be in the money supply × Required reserve ratio

= $20 billion × 5%

= $1 billion

Therefore, the Fed should initially increase $1 billion in the money supply.

5 0
3 years ago
Full-time employees must have money deducted from their paychecks for
DedPeter [7]

The correct answer is C. Federal income tax

Explanation:

The term "deduction" is used to describe money that is taken from your salary. In the case of full-time jobs in the U.S. salary deductions include deductions for income taxes including the federal income tax and deductions for Social security taxes because all of these taxes are established by the U.S. government and this is closely related to the amount of money you earn or your salary. Also, others such as savings, contributions to charity, etc. are not mandatory deductions. Thus, full-time employees must have money deducted from their paychecks for federal income tax.

5 0
3 years ago
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