Answer:
Rent Expense (Dr.) $5,000
Cash (Cr.) $5,000
Inventory (Dr.) $35,380
Accounts Payable Martin Co. (Cr.) $35,380
Accounts Receivable Korman Co. (Dr.) $62,000
Sales (Cr.) $62,000
Cost of Goods Sold (Dr.) $48,500
Inventory (Cr.) $48,500
Explanation:
Advertising Expense (Dr.) $21,800
Cash (Cr.) $ 21,800
Cash (Dr.) $62,000
Accounts Receivable Korman Co. (Cr.) $62,000
Customer Refund Payable (Dr.) $31,500
Cash (Cr.) $31,500
Sales Salaries Expense (Dr.) $12,000
Office Salaries Expense (Dr.) $ 38,000
Cash (Cr.) $50,000
Store Supplies Expense (Dr.) $2,200
Cash (Cr.) $2,200
Answer:
c: increase in the bargaining power of suppliers of a critical input
Explanation:
Five Forces Framework by Porter's can be regarded as a method involving analysis of competition in a business. It's analysis dream through
industrial organization economics determine forces that are responsible for competitive intensity. The forces are;
✓potential new market entrants
✓number and power of a company's competitive rivals
✓ influence of suppliers, customers,on company's profitability.
It should be noted that Consolidation among fuel providers serving airport facilities is viewed in the five forces model of competition as a increase in the bargaining power of suppliers of a critical input.
Answer:
The monthly payment is $2184.52
Explanation:
Given
Required
Firstly, the loan amount has to be calculated
The Question says; of the total amount spent, only 60% was borrowed;
So;
The monthly payment can then be calculated using the following formula
Where P = Loan Amount = 132,000
r = rate of payment = 5.95% = 0.0595
n = duration (in month)
n = 6 years
n = 6 * 12 months
n = 72 months;
Substitute the above parameters in the formula;
becomes
<em>Hence, the monthly payment is $2184.52</em>
Answer:
Both APR and fees
Explanation:
The Annual Percentage Rate -APR is the interest rate a customer pays on a credit card per year. Credit cards extend loans to the holder every time they are used. If the credit card user does not pay the full amount on the due date, it attracts interest charges. The higher the APR, the more interest a cardholder will pay. In selecting a credit card provider, APR is the most important factor to consider.
Credit card attracts other fees other the interest. These fees include Balance Transfer Fee, Foreign Transaction Fee, Annual Fee, and Cash Advance Fee. These fees affect the customer's overall cost of using the credit card. Customers should compare different credit card companies and select one with favorable fees.
Answer:
1. Pronghorn shipped goods costing $54,380 to Hemlock Company FOB shipping point on December 28. The goods are not expected to reach Hemlock until January 12. The goods were not included in the physical inventory because they were not in the warehouse.
- These goods were correctly excluded from the inventory account because the purchase was FOB shipping point, which means that title passes to the buyer once the goods leave the sellers shipyard or warehouse.
2. The physical count of the inventory did not include goods costing $96,250 that were shipped to Pronghorn FOB destination on December 27 and were still in transit at year-end.
- These goods were correctly excluded from the inventory account because the purchase was FOB destination, which means that title passes to the buyer only after the goods are delivered.
3. Pronghorn received goods costing $27,180 on January 2. The goods were shipped FOB shipping point on December 26 by Yanice Co. The goods were not included in the physical count.
- They should have been included in the inventory account because the purchase was FOB shipping point, which means that title passes to the buyer once the goods leave the sellers shipyard or warehouse.
4. Pronghorn shipped goods costing $46,830 to Ehler of Canada FOB destination on December 30. The goods were received in Canada on January 8. They were not included in Pronghorn physical inventory.
- They should have been included in the inventory account because the sale was FOB destination which means that title passes to the buyer only after the goods are delivered.
5. Pronghorn received goods costing $45,270 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive December 31. This purchase was included in the ending inventory of $277,880.
- These goods should have been excluded from the inventory account because the purchase was FOB destination, which means that title passes to the buyer only after the goods are delivered.
