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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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Answer:

The correct answer is True.

Explanation:

A good supply chain aims to maximize the profitability of the company while trying to provide the best service in order to obtain a high degree of customer satisfaction. That is why, when planning the design, it must be customer oriented and not only focused on the company.

Steps prior to the design of the supply chain

When designing the supply chain, there are several points to consider in order to obtain a coherent and functional design.

  • The members that become part of the chain. The first thing to be fixed are the members that are part of the chain, since this will be the guide to go through the rest of the steps. Within this, a subdivision could be carried out, but it is worth mentioning that an agent can be a principal or support agent jointly depending on the work to be done at each moment:
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  • Of support. They are those members whose function is to provide information or resources to the main members, such as banks.
  • Structure that forms the chain, that is, all the phases through which a product / service passes in order to be marketed as such. At this point we must try to be as meticulous as possible and always add as much as possible all the phases that are involved, both in manufacturing and in supply.
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The QuickBooks EcoSystem can be regarded as a quick box software along with different apps that has connection with it. It brings about good functionality in Businesses, through QuickBooks EcoSystem, accountant of a company can easily connect with different apps that allows to manage client and improve productivity. It should be noted QuickBooks Online ecosystem gives you and your clients access to a wide range of apps to help streamline their business and increase efficiencies.

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Round 784.967 to the nearest whole number
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784.967 rounded to the nearest whole number is 785
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In a commercial bank's t-account, reserves and outstanding loans are recorded as assets.

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Reserves are a part of income or gain that has been allotted for a selected reason. Reserves are usually installed to shop for fixed property, pay bonuses, pay an anticipated prison settlement, pay for upkeep & protection and pay off debt.

Reserves – additionally called retained income – are portions of a commercial enterprise's profits that have been set aside to strengthen the enterprise's economic function.

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