Answer: modified rebuy
Explanation:
Tetradic's situation can be defined as the modified rebuy. Modified Rebuy refers to a purchasing situation whereby an individual or organization buys goods that they've bought before but then changes the supplier or some elements in the previous order.
Based on the question given, Tetradic Solutions alters his purchase as the order was modified. In modified rebuy, the specifications of the product, prices, and suppliers can be changed as well.
Answer:
The journal entry is shown below:
Explanation:
The journal entry for the following will be as:
Accounts Payable A/c.......................Dr $4,000
Merchandise Inventory A/c..........Cr $80
Cash A/c..............................................Cr $3,920
As the buyer purchases merchandise worth $4,000, so the accounts payable account is debited and the buyer will be applied a discount of 2%, so merchandise inventory is credited and against the cash is paid, so the cash account is credited.
Working Note:
Discount = Amount × 2%
= $4,000 × 2%
= $80
There are different kinds of rules. Underapplied or overapplied overhead occurs because overhead is applied to jobs using a predetermined rate is a true statement.
<h3>What is Underapplied overhead?</h3>
This is known too be when the amount of a specific OH applied is said to be less than full amount of actual MOH for that specific period.
Overapplied overhead is known to be when the amount of OH applied is said to be more than full amount of actual MOH for that specific period.
Learn more about overapplied overhead from
brainly.com/question/4930275
Answer:
b.There is no effect on the accounting equation as one asset account increases while another asset account decreases.
Explanation:
On billing the customer, sales account would have been credited and accounts receivables debited.
On payment by the customer, accounts receivables would be credited and cash account debited.
Hence there will be no increase/decrease in asset as cash and receivables would nil off.
As such, the right option is b.There is no effect on the accounting equation as one asset account increases while another asset account decreases.
