The amount of check paid by Company G after claiming the cash discount offer is $2,058.
<h3>What is a cash discount?</h3>
A cash discount is a type of rebate being allowed by seller to the buyer on the amount of receivables for a specified period of time.
Given values:
Amount of receivables: $2,100
Cash discount : 2%
Discount days: 7 days
Full payment days: 30 days
Computation of amount of check to be paid after discount:
Therefore, after paying the receivable amount within 7 days, the company can claim the discount of 2% and paid $2,058 as its net payment.
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Answer:
For each can of soda he gets one in return.
Explanation:
If he gets one soda for another the logical answer is that for each trade he gets a soda but it also could mean that those are his two favorite.
Answer:
overapplied for 20,200
Explanation:
Predetermined overhead rate:
350,000/250,000 = 1.4
each dollar of labor generates 1.4dollar of overhead
Applied overhead:
63,000 x 1.4 = 88,200
actual overhead: 62,000
82,200 - 62,000 = 20,200
<u>NOTE: INCOMPLETE INFORMATION</u>
The following account balances at the beginning of January were selected from the general ledger of Ocean City Manufacturing Company. Work in process inventory $0 Raw materials inventory $28,000 Finished goods inventory $40,000 Additional data: 1) actual manufacturing overhead for January amounted to $62000 2) Total direct labor cost for januray was $63,000 3) The predetermined manufacturing overhead rate is based on direct cost. The budget for the year called for $250,000 of direct labor cost and $350,000of manufacturing overhead costs. 4) The only job unfinished on January 31 was Job. 151 for which total direct labor charges were $5,200( 800 direct labor hours) and total direct material charges were $14,000 5) Cost of direct materials placed in production during January totaled $123,000. There were no indirect material requisitions during January. 6) January 31 balance in raw materials inventory was $35,000 7) Finished goods inventory balance on January 31 was $34,500
Answer:
The answer is: B) Contracts under seal, letters of credit, and also implied-in-law contracts
Explanation:
Only 10 states allow contracts under seal. A contract under seal does not require consideration and has the seal of the signer attached to it.
Letters of credit are legal contracts between banks and the sellers of goods (LC are usually related to export and import activities).
Implied contracts are contracts that are not written but they are valid based on the parties' actions.
I believe the answer is false
I hope this helps!