Answer and Explanation:
Given that
The Sale is made for $900
Terms 2/10, n/30 that means if the payment is made within 10 days than 2% discount is eligible and the total credit period allowed is 30 days
Now the journal entry to record the receipts of a payment within discount period is
Cash Dr $882
Sales discount $18
To Account receivable $900
(Being the cash received)
Answer:
$125,300
Explanation:
The computation of the total manufacturing cost is shown below:
Total manufacturing cost = Direct material cost + direct labor cost + Indirect materials + Factory manager salaries + Factory supplies + Indirect labor + Depreciation on factory equipment
= $40,500 + $39,600 + $15,200 + $7,200 + $9,000 + $6,300 + $7,500
= $125,300
Answer:
Expenditures $300,000; Supplies inventory $150,000.
Explanation:
The consumption method recognizes an asset when an item is purchased and an expense when an item is used or consumed. Therefore, when supplies are first bought, Supplies Inventory has a balance of $450,000.
After using those supplies during the year, $300,000 should be debited from Supplies Inventory and credited to Expenditures.
Therefore, at fiscal year-end, the appropriate account balances on the General Fund financial statements would be: Expenditures $300,000; Supplies inventory $150,000.
Answer:
B) II and III.
Explanation:
Based on the information given the statement that are TRUE are II and III
II. The amount of $2,000($10,000-$12,000) which is the profit for the business will be given to the customer but the customer account will have to be frozen or put on hold for 90 days because the customer had not paid for the buy side before selling the shares for the amount of $12,000
III. In a situation where customer paid the amount for the buy side in full either before or after the fifth business day which is the day that follows the trading date, the customer account that had be frozen will be unfrozen or lifted because the buy side amount had be paid in full.
Answer:
Organiational behaviour looks at the individual behaviour, then moves to group behaviour, progressively to the organization behaviour, which you can also call the organization culture. It requires skills to understand how the organization and its members affect each other. Areas include frameworks for diagnosing and resolving problems in organizational settings. Human behaviour, call it individual behaviour is a sub-set of organization behaviour.
