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bulgar [2K]
4 years ago
12

On November​ 30, Janoch's Dog Kennel purchased $ 600 of merchandise on account from the Ganster Company. The goods were shipped

F.O.B. shipping point. The freight charge of $ 100 was paid by Ganster Company and added to the invoice. The amount to record in the Purchases account​ is:
Business
1 answer:
valentinak56 [21]4 years ago
3 0

Answer:

$700

Explanation:

The journal entry to record the purchase should be:

November 30, Merchandise purchased from Ganster Company

  • Dr Merchandise Inventory account 700
  • Cr Cash account 700

Since the freight charge was added to the invoice, then the total invoice will = $600 + $100 = $700

When a company purchases FOB shipping point, the title of the goods passes at the seller's shipping dock. Therefore the merchandise inventory must increase once the goods have left the seller's shipping dock.

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A writer, an illustrator, a publisher and an agent would form a ______. a. functional team b. cross-functional team c. managemen
tresset_1 [31]

A Cross-functional team will be formed when a writer, an illustrator, a publisher and an agent work together.

<h3>What is a Cross-functional team?</h3>

This means the groups of people from various departments in an organization that work together to achieve a common goal.

Hence, when writer, an illustrator, a publisher and an agent work together, this is known as a Cross-functional team.

Therefore, the Option B is correct.

Read more about Cross functional team

<em>brainly.com/question/7628770</em>

6 0
2 years ago
Olinick Corporation is considering a project that would require an investment of $343,000 and would last for 8 years. The increm
viva [34]

Answer:

3.2 years

Explanation:

Calculation to determine what The payback period of the project is closest to:

Using this formula

Payback period = Investment required ÷ Annual net cash inflow

Let plug in the formula

Payback period= $343,000 ÷ $107,000 per year Payback period= 3.2 years

Therefore The payback period of the project is closest to:3.2 years

3 0
3 years ago
Juan Carlos originally hoped to purchase a home. However, because he could not earn enough money to ever afford one, he decided
Ivenika [448]

Answer:

Retreatism

Explanation:

Retreatism -

It is the concept or the methodology , which states that a person resigning the traditions of the society's idea of success and creating their own way of happiness and self satisfaction , is known as the method of Retreatism .

Same case is shown in the question , where Juan Carlos adapted the idea of Retreatism , in order to attain a happy life , by leaving his job and moving to the woods and enjoying the solitude .

5 0
3 years ago
On January 1, 2013 Vick Company purchased a trademark for $400,000, which had an estimated useful life of 16 years. In January 2
antoniya [11.8K]

Answer:

$30,000

Explanation:

Usually, patents do not have a salvage value. If the useful life is 16 years, the amortization rate will be 1/16 x 100

=0.0625 x 100

=6.25%

Before January 2017, the trademark had been amortized for four years ( 2013, 2014, 2015, and 2016.)

Amortization per year = 6.25% x  $400,000

=0.0625 x $400,000

=$25,000 per year: Four year amortization would be

=$25,000 x 4

=$100,000

The Book value as of January 2017 will be

=$400,000 -$100,000

=$300,000

add legal fee

=$300,000 + $60,000

=$360,000

remaining useful life = 16 -4 years = 12 years.

new depreciation rate = 1/12 x 100

=0.08333

Depreciation amount for 2017

= 0.08333 x  $360,000

=$30,000

5 0
3 years ago
Wylie has been offered the choice of receiving $5,000 today or an agreed-upon amount in 1 year. While negotiating the future amo
Studentka2010 [4]

Answer:

The answer is 14%

Explanation:

Formula for Future value (FV)                    FV = PV (1+ni)

Whereas FV= Future value, PV = present value, n= number of years, i= TVOM in percentage

Rearranging the formula for i

     i =        (FV/PV)-1

So, i =       (5,700/5,000)-1

      i =      1.14-1

      i =      0.14

      i =       14%

(0.14x100=14%)

8 0
4 years ago
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