____ partners typically provide capital but do not actively participate in the management of the business.

Jupiter Company sells goods to Danone Inc. by accepting a note receivable on January 2, 2017. The goods have a sales price of $6

Brut [27]

Answer:

Explanation:

a. Net method

The journal entries are shown below:

January 2, 2017

Notes receivable A/c Dr $600,000 ($610,000 - $10,000)

To Sales revenue $600,000

(Being goods are sold on credit)

Cost of goods sold A/c Dr $500,000

To Inventory A/c $500,000

(Being the cost of goods sold is recorded)

On January 28, 2017

Cash A/c Dr $610,000

To Notes receivable A/c $600,000

To Sales discount A/c $10,000

(Being cash received is recorded)

b. Gross method

The journal entries are shown below:

January 2, 2017

Notes receivable A/c Dr $600,000 ($610,000 - $10,000)

To Sales revenue $600,000

(Being goods are sold on credit)

Cost of goods sold A/c Dr $500,000

To Inventory A/c $500,000

(Being the cost of goods sold is recorded)

On January 28, 2017

Cash A/c Dr $610,000

To Notes receivable A/c $600,000

(Being cash received is recorded)

8 0

4 years ago

The production possibilities curve:

jekas [21]

Answer:

The correct answer is letter "B": is a frontier between all combinations of two goods that can be produced and those combinations that cannot be produced.

Explanation:

A variety of answers to the question: <em>"What is our optimum production capacity?"</em> solves the Production Possibility Frontier (PPF). Increased output requires job creation and the best efficient use of resources. This maximizes the labor force available and reduces the services that are not used.

<em>Plotted in a graph, PPF reflects the possible combinations an organization has and how to optimize output as well as what combinations are not to be produced.</em>

7 0

3 years ago

When the interest rate on a bond is above the equilibrium interest rate, there is excess __________ in the bond market and the i

Kruka [31]

"... there is excess supply of bonds... interest rate will fall."
When the interest rate is above equilibrium, Qd (Quantity demanded) will be less than Qs (Quantity supplied) of bonds, since people are less willing to purchase when price is too high, and producers are more willing to sell their bonds when price is higher (since they earn more per unit sold). This results in surplus of bonds in the market, where Qs > Qd, which leads to a downward pressure being applied on price (in this case, the interest rate) so that Qs eventually equals to Qd.

Hope this helps!

4 0

3 years ago

Following the imposition of a price floor $2 above the equilibrium price, irate buyers convince Congress to repeal the price flo

andrey2020 [161]

Answer:

$3

Explanation:

A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.

Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.

Equilibrium price is the price at which quantity demand equal quantity supplied. Above equilibrium price there is a surplus - quantity supplied exceeds quantity demanded.

Below equilibrium price there is a shortage - quantity demanded exceeds quantity supplied

Shortage = $12 - $9 = $3

5 0

3 years ago

Houser Corporation owns 4,000,000 shares of stock in Baha Corporation. On December 31, 2012, Houser distributed these shares of

Sloan [31]

Answer:

The correct option is (a)

Explanation:

Property dividend is distributing assets as dividends to its stockholders. This distribution is not in the form of cash. It could be any asset including any stock that the organization holds with some other company.

In this case, Houser corporation distributes shares of Baha corporation to its shareholders as dividends. This is an example of property dividend.

3 0

4 years ago