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Alla [95]
3 years ago
5

country cupboard purchased inventory for 5500 and also paid a 360 freight bill. Country cupboard returned 45% of the goods to th

e seller and later took a 3% purchase discount. Assume country cupboard uses a perpetual inventory system. what is country cupboard's final cost of the inventory that it kept
Business
1 answer:
Shalnov [3]3 years ago
7 0

Answer:

$3,475.75

Explanation:

the journal entries required to record the purchases are:

Dr Inventory 5,500

    Cr Accounts payable 5,500

Dr Inventory 360

    Cr Cash 360

Dr Accounts payable 2,475

    Cr Inventory 2,475

Dr Accounts payable 3,025

    Cr Cash 2,934.25

    Cr Purchase discounts 90.75

Cost of inventory = $5,500 + $360 - $2,475 - $90.75 = $3,475.75

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Rapp and Wunderman are subsidiaries of large agency holding companies that provide services for companies that want to communica
Contact [7]

Answer:

The correct answer is letter "A": direct-marketing.

Explanation:

Direct-marketing is a type of advertising that implies transmitting information about a product, service or entity directly to customers. Most of the time the promotional information is prompted without intermediaries but some times marketing agencies are hired for that specific purpose.

3 0
2 years ago
Federal Semiconductors issued 11% bonds, dated January 1, with a face amount of $800 million on January 1, 2021. The bonds sold
BabaBlast [244]

Answer:

calcule estúpido malparido

3 0
3 years ago
Bill owns Jurisprudence Employers, Inc., a legal staffing company and employs George. One day Bill instructed George to falsify
Alenkinab [10]

Answer:

Bill is also equally and somewhere more liable as he is the employer.

Explanation:

Although in records it might seem that George did the falsify act, but for that he required the permission of his employer.

When the fact is clearly stated that George did this on direction of his employer Bill, and that Bill demanded this intentionally in order to present extra profits, he is more liable for this false act.

As George is the employee, he is bound  to follow the directions of his employer. Thus Bill is crucially liable for this act, as he is an important reason for this act.

7 0
3 years ago
Newsome Inc. buys on terms of 3/15, net 45. It does not take the discount, and it generally pays after 60 days. What is the nomi
gogolik [260]

Answer:

16.22%

Explanation:

3/15, net 45 means that if Newsome pays within 15 days, it will get discount of 3%, otherwise it can pay within 45 days in full.

Nominal annual percentage cost of  non-free trade credit based on 365 days can be calculated using the below formula:

Discount %/(100%-Discount %)*(365/(Actual credit days – Discount days))

In this case

Discount%=2%

Actual credit days=60

Discount period=15

Cost of non- free credit=2%/(100%-2%)*(365/(60-15)

                                       =2%/98%*(365/45)

                                       =0.02*8.11

                                       =16.22%

5 0
3 years ago
Operations management is the discipline that manages the day-to-day and tactical activity of the entire value added chain, which
makvit [3.9K]

Answer:

Operations Management:

a) true

Explanation:

Operations management ensures that the organization achieves its objectives by coordinating processes and executing them in the conversion of organizational resources into goods and services which will enable the organization to maximize profits.  It is the core of the organizational hierarchy and plays important tactical roles that deliver results.  It translates the strategic policies of top management into day-to-day actionable and deliverable processes to meet external needs (customers'), thereby generating income for the owners of the business.  Without operations management, a business remains an idea that cannot be implemented.

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3 years ago
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