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
nlexa [21]
3 years ago
12

Pierce Company sold to Stanton Company merchandise on account FOB shipping point, 2/10, net 30, for $20,000. Pierce prepaid the

$500 shipping charge. Which of the following entries does Pierce make to record this sale?
A. Accounts Receivable Stanton, debit $20,000; Sales, credit $20,000
B. Accounts Receivable Stanton, debit $19,600; Sales, credit $19,600, and Accounts Receivable Stanton, debit $500; Cash, credit $500
C. Accounts Receivable Stanton, debit $20,100; Sales, credit $20,100
D. Accounts ReceivableStanton, debit $20,000; Sales, credit $20,000, and Delivery Expense, debit $500; Cash, credit $500
Business
1 answer:
polet [3.4K]3 years ago
3 0

Answer:

D. Accounts ReceivableStanton, debit $20,000; Sales, credit $20,000, and Delivery Expense, debit $500; Cash, credit $500

Explanation:

The Sale transaction must be ;

Trade Receivable -  Stanton Company  $20,000 (debit)

Revenue $20,000 (credit)

<em>Recognise the Revenue and Asset -  Stanton Company</em>

Shipping Cost  $500 (debit)

Bank $500  (credit)

<em>Recognise the shipping cost and de-recognise the cash asset</em>

You might be interested in
According to the table above, if the government sets an effective price floor of $100,
yuradex [85]

Actually from the given table, we can see that at a floor price of $100, the corresponding quantity demanded is 250 while the quantity supplied is 750. So we can say that there is actually no equilibrium since quantity demanded =/= quantity supplied.

 

Therefore the only correct answer is:

e. the quantity supplied will be 750.

3 0
3 years ago
The reason many homeowners cannot sell their homes when house pricing is falling is because
lozanna [386]
It is because then people are already buying houses, and often homeowners do not get a lot of money in return.
6 0
4 years ago
Shaw Industries, a giant carpet manufacturer, increases its control over raw materials by producing much of its own polypropylen
lions [1.4K]

Answer:

c. Vertical integration

Explanation:

Vertical integration is a strategy in which a manufacturing entity owns or controls its channel of raw materials supply or products required, distribution chain, or retail locations to control its supply chain.

It affords the company some form of advantage by allowing them control the process, reduce costs, and improve efficiencies.

As such, where Shaw Industries, a giant carpet manufacturer, increases its control over raw materials by producing much of its own polypropylene fiber, a key input into its manufacturing process.

This is an example of Vertical integration.

6 0
3 years ago
Bert sells his car to Conrad for $5,000 and his bike to Del for $600. Bert sells his vinyl record collection to Elena for $1,000
Alexus [3.1K]

Answer:

the sale of Bert's stock in Altogether Now

Explanation:

Article 2 of the Uniform Commercial Code (UCC) only applies to commercial transactions involving tangible personal property. A car, a bike, and a vinyl record collection are all tangible personal properties, but a company's stock is not.

5 0
3 years ago
The practice of intentionally targeting borrowers in poor or underserved areas with expensive high-cost loans is known as:
Yanka [14]

Answer:

Reverse redlining

Explanation:

Reverse redlining means the practice that target the neighborhood specially the non-white for the greater prices or lended the non-fair terms like lending used for predatory with respect to the subprime mortgage

So as per the given situation, it is the reverse redlining as it is targetted to the borrowers or the areas having high cost loans

So, the same should be considered

4 0
3 years ago
Other questions:
  • In many states, the minimum amount that stockholders must contribute to the corporation, and which is intended to protect the cr
    5·1 answer
  • A salesperson can put in regular effort (resulting in a 40% chance of sale) or high effort (60% chance of sale). If high effort
    15·1 answer
  • Any suggestions on a good movie?
    7·2 answers
  • Countries with more economic freedom during the past quarter of a century had a lower average per capita GDP.a. Trueb. False Cou
    5·1 answer
  • Gamapro, a company that manufactures gaming devices, has launched a new gaming console along with a new set of games for the new
    6·1 answer
  • The before tax cost of debt for a firm which has a marginal tax rate of 30% is 12%. Therefore the cost of debt that should be us
    12·1 answer
  • Which of the following is NOT a relevant cash flow and thus should NOT be reflected in the analysis of a capital budgeting proje
    15·1 answer
  • Maria is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: Ma
    12·1 answer
  • What is Social Security?
    6·1 answer
  • when a company allows a customer to opt in​ and/or opt out with respect to the data it​ collects, it is implementing the​ fair i
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!