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3 years ago

Swifty's Market used the perpetual method to record the following events involving a recent purchase of inventory:

Business

1 answer:

butalik [34]3 years ago

8 0

Answer:

Inventory balance will be of 73,318

Explanation:

Inventory 75,400

Account payable 75,400

to record goods received

Account payable 1,300

Inventory 1,300

to record return of goods

Inventory 700

Cash 700

to record payment of freight

Account Payable 74,100

Inventory 1,482

Cash 72,618

to record payment of invoice within discount period

75,400 - 1,300 = 74,100

74,100 x 2% = 1,482

Inventory balance:

DEBIT CREDIT

75,400

1,300

700

1,482

balance:

73,318

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rodikova [14]

The correct answer is installment credit. The explanation is below.

Installment credit allows you to purchase an item and then pay for it in installments. The reason that this would be the best option for you is that you do not have the money now to make the purchase, but you are able to make smaller monthly payments in order to purchase a computer.

Installment credit is better than revolving credit for new borrowers. Revolving credit would allow you to charge additional purchases on your revolving credit account. The installment plan only finances one item, rather than like a credit card, which is how revolving credit works. You would not choose non-installment credit because this would require you to make this payment all at once in a short period of time. It would not allow you to spread the payments out over time.

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3 years ago

Marie, a salesperson, uses a variety of statements and questions while trying to sell products to prospective buyers. She design

Thepotemich [5.8K]

Answer:

Option "C" is the correct answer to the following situation.

Stimulus Response Selling

Explanation:

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Marie uses a combination of statements and questions when trying to sell goods to potential buyers and tries to construct statements and questions so that the prospective buyer can receive beneficial responses.

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3 years ago

Tito Corporation had net income of $2,000,000 and paid dividends to common stockholders of $300,000 in 2017. The weighted averag

Sidana [21]

Answer:

a. 10 times

Explanation:

The computation of price-earnings ratio is shown below:-

Earning per share = Net income ÷ Weighted average shares outstanding

= $2,000,000 ÷ 400,000

= 5

Price earning per share = Market price per share ÷ Earning per share

= $50 ÷ 5

= 10 times

Therefore for computing the price earning per share we simply applied the above formula.

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3 years ago

Company ABC has determined that the surprising influx in client complaints was caused when an employee left, which led to an inc

mina [271]

They should just probably hire another employee or something I don’t know.

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2 years ago

On July 1, 2018, an interest payment date, $148000 of Bramble Corp. bonds were converted into 2930 shares of Bramble Corp. commo

Mademuasel [1]

Answer:

There will be a $9,250 increase in paid-in capital in excess of par

Explanation:

Given:

Face value of bonds =$148,000

Unamortized Discount = $6,900

Common stock shares in conversion = $45/value share

Therefore, computed increase to be paid-in capital in excess of par will be given as (Bramble's record):

Book Value of Bonds = (Face Value of Bonds, $148,000) - (Unamortized Discount, $6900) = $141,100;

(Book Value of Bonds, $141,100) - (Value Assigned to Common Stock, $131,850(2930 Common Stock Shares in Conversion x $45 par value per share)) =

=$9,250 increase to Paid-In Capital in Excess of Par.

Note: value assigned to common stock = 2939 * 45 =131850

4 0

3 years ago