What is your total industry wide sales volume? In Dollars? In Units?

December 3 – Vogel Corporation sold inventory on account to Hatcher Corp. for $492,000, terms 1/10, n/30. This inventory origina

laiz [17]

Answer:

Journals :

December 3

Accounts Receivable :Hatcher Corp. $492,000 (debit)

Cost of Sales $309,000 (debit)

Sales Revenue $492,000 (credit)

Inventory $309,000 (credit)

Sold goods on credit to Hatcher Corp

December 8

Sales Revenue $3,200 (debit)

Inventory $2,010 (debit)

Accounts Receivable : Hatcher Corp. $3,200 (credit)

Cost of Sales $2,010 (credit)

Hatcher Corp. returned goods

December 12

Cash $43,920 (debit)

Discount allowed $4,888 (debit)

Accounts Receivable : Hatcher Corp. $488,800 (credit)

Payment received from Hatcher Corp and discount allowed recognized

Net Sales to be reported :

Net Sales = $483,912

Gross profit percentage ;

36.56 %

Explanation:

Payment made by Hatcher Corp is still within 10 days (the discount period) thus the customer is eligible for a cash discount calculated on the sales amount less returns as follows :

Discount allowed = $488,800 × 1%

= $4,888

Thus,

Net Sales = $492,000 - $3,200 - $4,888

= $483,912

Gross Profit Percentage = Gross Profit /Sales × 100

Where

Gross Profit = Sales - Cost of Sales

= $483,912 - ($309,000 - $2,010)

= $176,922

Therefore,

Gross Profit Percentage = $176,922/ $483,912 × 100

= 36.56 %

8 0

3 years ago

For each of the following, indicate whether the idea is most closely associated with the first industrial revolution, the second

soldier1979 [14.2K]

Answer: Railways - the first industrial revolution, the Internet - the second, the technological - the oboe, the steam engine - the beginning, the telegraph - the first, the Feedback loops - second, The flying shuttle the first, The possibility of traveling from coast to coast in the US in under a wee - the first.

Explanation:

The Industrial Revolution brought about textural changes in people's lives, in everyday life, in the economy, in production. It went through several stages and always brought with it certain technological advances that made life easier for people. We link railways and the development of rail transport to the first industrial revolution. With steam technology, the first trains were launched and later this technology spread to the whole world. The emergence of the Internet is tied to the second half of the 20th century. It is a technology that has completely transformed the world, and without which life, today is almost impossible. When it comes to the technological revolution, it is still happening today. In this context, we bind it to both stages of the revolution. The advent of steamboats has been part of the technological revolution since the beginning of the 19th century, just like the advent of the Internet in the second half of the 20th century. The steam engine is part of the first technological revolution. Thanks to James Watts, transportation of people and goods was much faster and easier. The telegraph is part of the first technological revolution. The development of electricity has formed the basis for the electric telegraph. In 1832 Samuel Morse succeeded in developing the first stable and straightforward electrical messaging system, and in the following year received a patent for the invention.

The first real electric telegraph connected London and Birmingham and was built in 1838. The first operational amplifier to match its name was created by electronic tubing and built-in Bell's laboratories, United States, during 1941. This is a technology that we connect to backlinks and is part of another technological revolution. The invention of hydrogen, invented by the English physicist Henry Cavendish in 1767, solved the question of balloon filling. After many attempts by French physicist Jacques Charles, using a new invention to dissolve the rubber, he constructed a 380 m3 balloon with a bulletproof, hydrogen-filled shell that had a gas vent. The first steamboat to make a profit on sailing was built in 1807 (and patented in 1809) by the American Robert Fulton. However, the new boats were built even before the end of the 18th century.

4 0

3 years ago

A topographical map shows successively higher equal-elevation lines, whereas an indifference map shows successively higher level

Pavel [41]

Answer:

The correct answer is letter "A": utility.

Explanation:

The Indifference Map or Indifference Curve determines the combination of two goods that will provide equal satisfaction according to their utility. If you want more of one good and less of another you would be willing to trade some of one for more of the other. Plotted in a graph's upper right quadrant an indifference curve shows the curve on which changing amounts of a product create equal satisfaction levels.

5 0

4 years ago

Which would be an example of pattern in a photograph or piece of art?

makkiz [27]

Answer:

a geometric shapes such as the a pyramid

6 0

3 years ago

Match the descriptions to economic and non-economic factors that affect a business cycle.

Sophie [7]

BANKS HAVE REDUCED INTRESTS RATES IS THE AWNSER

4 0

3 years ago

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