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posledela
3 years ago
15

Journalize the following transactions for Armour Inc. using both the periodic inventory system and the perpetual inventory syste

m, presented in a side-by-side format shown at the end of this exercise.Oct.7 Sold merchandise on credit to Rondo Distributors, terms n/30, FOB destination, $1,200; the cost of the merchandise was $720.Oct. 8 Purchased merchandise, $10,000, terms FOB shipping point, 2/15, n/30, with prepaid freight charges of $525 added to the invoice.

Business
1 answer:
slega [8]3 years ago
6 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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joja [24]
<span>The factor that makes an IRA superior to a regular stock portfolio for saving for retirement is that </span><span>IRAs usually include employer contributions. The answer is letter D.</span>
8 0
3 years ago
The saving component of financial planning focuses on long-term security and includes:
Lerok [7]

The saving component of financial planning focuses on long-term security and includes <u>a </u><u>regular</u><u> savings </u><u>plan </u><u>for emergencies</u>.

<h3>What is financial planning?</h3>

Financial planning can be described as the process of evaluating a person's present income and future financial situation using currently available data to forecast future asset values, earnings, and withdrawal schedules.

Long-term financial planing serve as the foundation for the creation of short-term plans and budgets later in the financial planning process.

The saving portion of financial planning emphasizes long-term security and includes a consistent savings plan for emergency expenses.

Learn more about financial planning here: brainly.com/question/17586668.

#SPJ12

8 0
2 years ago
North Side Wholesalers has sales of $948,000. The cost of goods sold is equal to 68 percent of sales. The firm has an average in
Masteriza [31]

Answer:

13 days

Explanation:

We are to calculate the days of inventory on hand.

Days of inventory on hand = number of days in a period/ inventory turnover

Inventory turnover = Cost of goods sold / average inventory

Cost of goods sold = 0.68 x $948,000 = $644,640

Inventory turnover = $644,640 / $23,000 = 28.027826

Days of inventory on hand = 365 / 28.027826 = 13.02 days

I hope my answer helps you

5 0
3 years ago
The Gramm-Leach-Bliley Act
Feliz [49]

Answer: a. requires financial institutions to ensure the security of customer data.

Explanation:

The Gramm–Leach–Bliley Act (GLBA), which is also known as the Financial Services Modernization Act of 1999 is an act of the 106th United States Congress.

The Act requires that Financial Institutions such as commercial banks, investment banks, securities firms, and insurance companies under the FINANCIAL PRIVACY rule ensure that they explained their information sharing principles of their customers' information to their customers and to safeguard sensitive data.

7 0
3 years ago
Economic studies have generally found that professional sports players have salaries that
Rudiy27

Answer:

should be equal to their marginal revenue product.

Explanation:

This applies to basically all employees that work in competitive markets, their salaries should equal their marginal revenue product.

An employee's salary = the market value of hiring the employee = marginal revenue product

The formula for calculating marginal revenue product = marginal physical product x marginal revenue

where:

  • marginal physical product = extra units produced by the employee
  • marginal revenue = price of the units produced

For example, a new employee can produce 100 units per day and each unit is sold at $0.75, therefore the employee's marginal revenue product = 100 units x $0.75 per unit = $75 per day

4 0
3 years ago
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