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White raven [17]
3 years ago
9

Juniper company uses a perpetual inventory system and the gross method of accounting for purchased. the company purchase $9,750

of merchandise on august 7 with terms 1/10, n/30. on august 11, it returned $1,500 worth of merchandise. on august 26, it paid the full amount due. the correct journal entry to record the merchandise return on august 11 is:
Business
2 answers:
dusya [7]3 years ago
8 0
Due to the return of merchandise Juniper Company needs to shift some numbers around to make sure the correct journal entry is in place. To do so, Juniper Company will debit $1,500 from Accounts Payable. Next, they will place a credit to of $1,500 to Merchandise Inventory. 
Ratling [72]3 years ago
3 0

Answer:

Correct journal entry is;

Dr Accounts payable $1,500

Cr Inventory $1,500

Explanation:

Using perpetual inventory system, purchase returns made by Juniper on August 11 will cause their actual inventory on hand and accounts payable less than to its record. As a result, Juniper should recognize the return by debiting accounts payable and crediting inventory in the amount of $1,500. Purchase return and allowances should be directly charged against inventory account in perpetual inventory system method.

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a corporate team building event costs2 plus an additional $1 per attendee. How many attendees can there be at most if the budget
Arlecino [84]
Since the equation would be:
2 + 1x = y
The inequality would be:
2 + 1x \leqslant 50
It would be :
x \leqslant 48
The most there can be are 48 attendees.

Tell me if this helps by marking the answer, thank you!!
3 0
3 years ago
A(n) __________ is a set of guidelines for a business to follow when recruiting prospective employees.
Nezavi [6.7K]

Answer:

recruitment policy

Explanation:

A recruitment policy is a statement on how you hire. It outlines your company's preferred hiring practices and promotes consistency within your employee recruiting process

3 0
3 years ago
If a company adopts an accounts receivable factoring program, and accounts for the factoring as a sale of receivables, which of
horsena [70]

Answer:C. cash flow from operations may increase

Explanation:

A factoring system is one in which a firm sell his right to receive payments on it's receivable to a firm referred to as the factor as a discount in which the amount of discount represents the factor fees for taking up the risk.

The factor may be with or without recourse to the firm selling the receivable.

It's mostly entered into to reduce payment defaults and increase inflow of cash for operations.

The factor company does not need to be a consolidated company,it usually reduce the receivable and does not require a change in accounting principles.

4 0
3 years ago
A formal statement of values and ethical standards is known as
s2008m [1.1K]

Answer:

Code of ethics

Explanation:

Code of ethics is described as the set of the principles which are followed or conduct within the business or organization, it helps in guiding the behavior as well as help in decision making.

The motive of the code id to provide the members and the other parties who are interested with the guidelines form taking an ethical choices while conducting or performing the work.

In short, it is a written as well as formal statement of the ethical standards as well as values, which the guide the actions of the firm.

5 0
3 years ago
Majestic Corporation manufactures wheel barrows and uses budgeted machine hours to allocate variable manufacturing overhead. The
andre [41]

Answer:

$409185

Explanation:

Given: Budgeted output units: 28,475 units

Budgeted machine-hours: 17,085 hours

Budgeted variable manufacturing overhead costs for 28,475 units: $358,785

Actual output units produced: 32,475 units

Actual machine-hours used: 15,000 hours

Actual variable manufacturing overhead costs: $384,060.

First, we will find Budgeted machine hour per unit produced.

Budgeted machine hour per unit produced=  \frac{Budgeted\ machine\ hour}{Budgeted\ units}

⇒Budgeted machine hour per unit produced= 17085\div 28475= 0.6

∴Budgeted machine hour per unit produced= 0.6

Budgeted machine hours allowed for 32475 units= 32475\times 0.6= 19485

Budgeted variable overhead rate per machine hour= \textrm {Budgeted variable manufacturing overhead costs}\div Budgeted\ machine\ hours

Budgeted variable overhead rate per machine hour= 358785\div 17085= \$ 21

Now, lets find out flexible budget amount.

Flexible budget amount= \textrm{Budgeted machine hours allowed}\times \textrm{Budgeted variable overhead rate}

Flexible budget amount= 19485\times \$ 21= \$ 409185

∴Flexible budget amount for variable manufacturing overhead= $409185

6 0
3 years ago
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