1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Yuri [45]
3 years ago
5

Purchase-Related Transactions Warwick’s Co., a women's clothing store, purchased $27,000 of merchandise from a supplier on accou

nt, terms FOB destination, 2/10, n/30. Warwick’s returned $4,100 of the merchandise, receiving a credit memo, and then paid the amount due within the discount period. a. Journalize Warwick’s Co.'s entry to record the purchase. b. Journalize Warwick’s Co.'s entry to record the merchandise return. c. Journalize Warwick’s Co.'s entry to record the payment.
Business
1 answer:
IrinaVladis [17]3 years ago
6 0

Answer:    Explanation:

inventory 27,000

account payable   27,000

to record purchase on account

account payable 4,100

inventory                4,100

to recordreturn of goods

account payable 22,900   (27,000 - 4,100)

    discount received     458  (22,900 x 2%)

    cash                      22,442   (22,900 - 458)

to record payment within discount period

You might be interested in
Consider the following work breakdown structure:What is the probability that this project will be completed within 210 days AND
ella [17]

Answer: 0.8186  

Explanation:

Given that;

activity To    Tm Tp     Te (V)^0.5            v

A         38    50 62    50 4                   16

B         90    99 108    99 3                    9

C         70    80 90    80 3.333333    11.11111

D         19    25 31    25 2                    4

E         91    100 115    101 4                   16

F         62    65 68    65 1                    1

Expected duration Te = (4 × Tm + To + Tp ) / 6

Variance = ( Tp-To/6]²

variance of the critical path = 9+16 =25

SD of the critical path = ( var)^0.5 = 5

probability that the project will be completed within  210 days is given by

z = (210-200) / 5 = 2

which gives probability of 0.97725

Probability that the project will be completed within 195 days

z = (195-200) / 5 = -1

which corresponds to probability of 0.1586

Now required probability that project completes within 210 but before 195 days is given by

0.97725 - 0.1586 = 0.8186  

4 0
3 years ago
Bonds that may be exchanged for common stock at the option of the bondholders are called
zavuch27 [327]

Answer: Convertible bonds

Explanation: Convertible bonds are debt securities that are usually issued by the startup companies having no funds to initiate but high upside potential.

Convertible bonds can be converted into common stock at a specific price, on the discretion of the bondholder. These are hybrid securities, offering higher yields than common stock but lower than straight bonds.

From the above we can conclude that option D is correct.

5 0
4 years ago
Money market funds invest primarily in foreign currency.
abruzzese [7]

Answer:

true

Explanation:

I hope I help you thank you

6 0
3 years ago
Read 2 more answers
If a bank has excess reserves of $7,000 and demand deposit liabilities of $100,000, and if the reserve requirement is 15%, then
vlabodo [156]

Answer:

If a bank has excess reserves of $7,000 and demand deposit liabilities of $100,000, and if the reserve requirement is 15%, then the bank has actual reserves of $22,000.

Explanation:

Total deposit = $100,000

Reserve requirement = 15% of the total deposit

Therefore, required reserves = 15% of $100,000

=15/100 * $15,000

= 0.15*$100,000

required reserves = $15,000

The excess  reserves given in the question = $7,000

Total reserves = Required reserves + Excess reserves = $15,000 + $7,000 = $22,000

3 0
3 years ago
The bank statement of Jade Co. shows a balance of $4,555 as of December 31. The following reconciling items were identified:____
Inessa [10]

Answer:

d. $4,500.

Explanation:

Reconciling transactions identified;

i) Deposit not recorded on bank statement, $50 - This will be added to the bank balance.

ii) Total outstanding checks, $105 - This will be deducted from the bank balance

iii) Check of $100 returned because of not sufficient funds (NSF) - This is a check not honoured by the bank and as such the adjustment will be required in the books . No action is required for the bank.

Therefore, bank adjusted balance as at 31 December

                                                              Amount in $

Bank balance                                          4,555

Deposit not recorded                                  50

Total outstanding checks                       <u>  (105)</u>

Adjusted bank balance                          <u> 4,500</u>  

Option d.        

7 0
3 years ago
Other questions:
  • Mountain View Resorts purchased equipment at the beginning of 2021 for $46,000. Residual value at the end of an estimated four-y
    11·1 answer
  • Dana was a stay-at-home mother until her recent divorce. she went back into the paid workforce to provide for her child. she lov
    12·1 answer
  • What electrical safety procedure is described below: If you are going to work on something electrical, you should first disconne
    10·1 answer
  • Is it reasonable to think that a constant growth stock could have g &gt; rs? it is not reasonable for a firm to grow even for a
    8·1 answer
  • A stock is expected to pay a dividend (D1) of $1.10 at the end of the year. The required rate of return is rs = 8.0%, and the ex
    12·1 answer
  • Transactions processing systems monitor, collect, store, and process data generated from all business events. Select one: True F
    13·1 answer
  • Pat gave 5,000 shares of stock in Coyote Corporation (a publicly traded corporation) to her church (a qualified charitable organ
    8·1 answer
  • What would you pay for an investment that pays you $49000 at the beginning of each year for the next ten years? Assume that the
    6·1 answer
  • Carla Willis will invest $34,700 today. She needs $173,500 in 14 years. Click here to view factor tables What annual interest ra
    10·1 answer
  • Describe how a high level of flexibility would affect your performance in softball. Consider the benefits in many aspects of sof
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!