Answer:
The company should credited on the Cash account and the Cash Discount Receipt for the settlement of the inventory with 10 days.
Explanation:
The detailed entry will be:
19th Sep
Dr Account Payable $40,000
Cr Cash $39,200
Cr Cash Discount Receipt $800
( to record payable settlement and the receipt of cash discount)
Working note: As the company paying with 10 days, the supplier will allow a 2% discount on it net inventory purchase ( 44,000 - 4,000 = $40,000)
Thus, the discount will be 40,000 x 2% = $800 and Cash repayment will be 40,000 x (1-2%) = $39,200.
Answer:
quick
Explanation:
Quick
Taft Bank is entitled to collect the money from Quick Corp. and not Pine because it failed to notify Pine of the assignment from Quick Corp. on time. So, now he can collect money from Quick Corp. only.
When a tax distorts incentives to buyers and sellers so that fewer goods are produced and sold, the tax has caused a deadweight loss.
<h3>What is meant by deadweight loss?</h3>
- The gap between the production and consumption of any given good or service, including taxes, is referred to as deadweight loss in economics. Deadweight loss is most frequently detected when the quantity generated compared to the quantity consumed deviates from the ideal surplus concentration.
- Overproduction of commodities results in a loss of money. For instance, a baker might only sell 80 of the 100 loaves of bread they produce. There will be a deadweight loss since the 20 remaining loaves will become moldy and dry, and they will need to be thrown away.
- The loss in economic activity that results when the market pricing of products or services change negatively affects consumers and businesses is referred to as deadweight loss.
- You need to know the change in price and the change in quantity demanded in order to compute deadweight loss. Deadweight Loss is calculated using the following formula:. 5 * (P2 - P1) * (Q1 - Q2).
When a tax distorts incentives to buyers and sellers so that fewer goods are produced and sold, the tax has caused a deadweight loss.
To learn more about deadweight loss, refer to:
brainly.com/question/21335704
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One of the best things that Laura can do to be able to attain the goal is to increase the benefits that the employees are getting out of working for her. The benefits may come from different forms such as longer leaves, greater wages, health benefits, etc.
Answer:
3.10; 1.53
Explanation:
Total Current Assets:
= Cash + Receivables + Inventory + Other Current Assets
= $99 + $91 + $179 + $15
= $384 million
Total Current Liabilities:
= Accounts Payable + current portion of long-term debt
= $92 + $32
= $124 million
Current Ratio:
= Total Current Assets ÷ Total Current Liabilities
= $ 384 ÷ $ 124
= 3.10
Acid Test Ratio:
= (Cash + Accounts Receivables ) ÷ Current Liabilities
= $(99 + 91) ÷ $124
= 1.53
