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worty [1.4K]
3 years ago
14

Devonshire, Inc. sold merchandise inventory on account at a price of $17,000 with payment terms of 2/10, n/30. The merchandise c

ost Devonshire $13,000. If the customer paid for the merchandise 5 days after receiving the invoice, how much cash was collected by Devonshire?
Business
1 answer:
kotegsom [21]3 years ago
4 0

Answer:

$16,660

Explanation:

Given that,

Merchandise inventory sold on account = $17,000

Payment terms are as follows: 2/10, n/30

Cost of merchandise sold = $13,000

Therefore, the amount of cash was collected by Devonshire is the amount of cash after deducting the 2 percent of merchandise inventory.

Cash was collected by Devonshire:

= Amount of merchandise sold × (1 - 2%)

= $17,000 × (1 - 0.02)

= $17,000 × 0.98

= $16,660

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a mature manufacturing firm. The company just paid a dividend of $8.65, but management expects to reduce the payout by 5 percent
-BARSIC- [3]

Answer:

$48.34%

Explanation:

Data provided in the question

Growth rate = 5%

Required return = 12%

Dividend = $8.65

Based on the above information,

The computation of the current price is shown below:-

Current Price = Dividend × (1 + Growth Rate) ÷ (Required Return - Growth Rate)

= $8.65 × (1 + (-5%)) ÷ (12% - (-5%))

= $48.34%

Therefore for computing the current price we simply applied the above formula.

4 0
3 years ago
According to Victor Vroom, which of the following is not considered a factor that influences motivation?
Gre4nikov [31]

Answer:

A, independence

Explanation:

Motivation can be defined as the stimulation of individuals to achieve a certain goal.

It can also be said to be the a force that drives the wants, needs, etc of an individual. Motivation have various influencing factors as well as several modes.

Factors that influences motivation include; valence, instrumentality, expectancy, etc.

Modes of motivation include; intrinsic, extrinsic, introjected and identified motivation.

From the above question, independence isn't a factor that influences motivation. This is because independence, according to the dictionary, can be said to be a state of freedom from something.

Freedom does not motivate a person to achieve anything as there will be no pressure or driving force or even an individual to encourage. This makes goals impossible to difficult to achieve.

Cheers.

7 0
3 years ago
The balances in Sanchez Accounting Services' office supplies account on February 1 and February 28 were $1,100 and $475, respect
Hitman42 [59]

Answer:

$575

Explanation:

Given that,

Opening office supplies = $1,100

Closing office supplies = $475

Office supplies expense for the month = $1,200

Opening stock + Purchases - Closing stock = Consumption

$1,100 + Purchases - $475 = $1,200

$625 + Purchases = $1,200

Purchases = $1,200 - $625

                  = $575

Therefore, the amount of office supplies was purchased during February is $575.

7 0
3 years ago
The financial statement that presents a summary of the revenues and expenses of a business for a specific period of time, such a
adelina 88 [10]

Answer: Income statement.

Explanation:

Also known as the profit and loss account, the income statement is a financial record that shows the amount of money that a business establishment receives and spends during a certain period (week, month or year). The profit or loss is determined by subtracting the expenses from the income during a period.

6 0
3 years ago
yamaha incorporated hires a new chief financial officer and promises to pay him a lump-sum bonus four years after he joins the c
4vir4ik [10]

To determine the amount that must be invested each year, a computation must be made using the formula for the future value of an annuity due. The future value of an annuity can be described as the sum of the future value of each payment.

Investing can be defined as the process of buying assets that increase in value over time and provide returns in the form of income capital gains or payments. The equation for the future value of an annuity due is the sum of the geometric sequence, or can be written as  A(1 + r)1 + A(1 + r)2 + ... + A(1 + r)n.

Learn more about investing here brainly.com/question/15353704

#SPJ4

7 0
1 year ago
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