Answer:
balance of 38,616 debit
Explanation:
Inventory
Debits Credits
40,000(A)
800(B)
200(C)
784(D)
38616
(A) the recieved goods increase the inventory balance
(B) when returning the inventory decrease
(C) the shipment cost are necessary to get the ivnentory so are capitalized
(D) the discount decrease both, the cost of inventory and the cash disbursements.
adjusted invoice nominal:
40,000- 800 = 39,200
the commercial terms state a 2% discount which the company received:
39,200 x 0.02 = 784
Answer: Common law
Explanation:
All contracts are subject to the common law of contract regardless as to whether they are in a written form or not. In addition, contracts that relate to specific areas of life may also be subject to legislation that governs that area.
Answer: Option (B)
Explanation:
From the given options, we can state that Individual equity is more inclined toward value of institution of a specific person instead of a group. Individual equity tends to refers to the concept of the fairness of the individual’s pay that on comparison with his/her co-workers are supposedly earning for very same within the organization or company, that is mostly based on the individual’s performance.
