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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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. El Capitan Foods has a capital structure of 36% debt and 64% equity, its tax rate is 35%, and its beta (leveraged) is 1.4. Bas
almond37 [142]

Answer:

The firm's unleveraged beta is 1.0251

Explanation:

Hamada's equation  is used to separate the financial risk of a levered firm from its business risk.

The Hamada equation:

Bu= Bl/(1 + (1 − T)(D/E))

Bl = 1.4

wd = 0.36

Tax rate = 35%

D/E = wd / (1 – wd) = 0.5625 = 56.25%

= 1.4/ (1+(1-0.35)(0.5625))

=1.4/ 1 + (0.65)(0.5625)

=1.4/1.36

= 1.0251

5 0
3 years ago
Miguel Alvarez in the accounting department at Baumer Company has provided the following information:
Mekhanik [1.2K]

Answer:

$10.65

Explanation:

The computation of the incremental manufacturing cost in the case when the production level is changed

= Direct material cost per unit + direct labor cost per unit + variable manufacturing overhead per unit

= $6.25 + $3.20 + $1.20

= $10.65

Here the fixed cost would not be relevant

8 0
3 years ago
Accounting
kvv77 [185]

Answer:

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Explanation:

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8 0
2 years ago
In determining whether to issue a loan, banks are not allowed to ask about an applicant's
Firlakuza [10]

Answer:

country of origin.

Explanation:

Banks have a set of requirements that borrowers need to meet to qualify for a bank loan. The banks will ask questions to determine if the customer is eligible for a loan. Most of the questions pertain to the purpose of the loans and the customer's ability to repay.

The bank will ask about employment history, credit history, tax information, personal information, the purpose of the loan,  collateral, and other questions related to the ability to repay. A person's country of origin is unnecessary and may elicit elements of discrimination.

3 0
3 years ago
Read 2 more answers
The Woods Co. and the Speith Co. have both announced IPOs at $69 per share. One of these is undervalued by $16, and the other is
lana [24]

Answer:

(a) $18,000

(b) $3,600

Explanation:

(a) Profit would be:

= (No. of shares × Undervalued) - (No. of shares × Overvalued)

= (1,800 × $16) - (1,800 × $6)

= $28,800 - $10,800

= $18,000

(b) Only half your order will be filled.

With rationing (and being an uninformed investor) we expect our profits:

= (No. of shares × Undervalued) - (No. of shares × Overvalued)

= (900 × $16) - (1,800 × $6)

= $14,400 - $10,800

= $3,600

6 0
3 years ago
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