1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Amanda [17]
3 years ago
9

On March 3, Cobra Inc. purchased a desk for $280 on account. On March 22, Cobra purchased another desk for $410 also on account,

and then on March 24, Cobra paid $560 on account. At the end of March, what amount should Cobra report for desks (assuming these two desks were the only desks they had)?
Business
1 answer:
damaskus [11]3 years ago
4 0

Answer:

The amount of $690  should recorded for desks

Explanation:

The amount which should be reported for desks at the end of march is computed:

Amount that should be reported for desks = Purchased on March 3 + Purchased on March 22

where

Purchased on March 3 amounts to $280

Purchased on March 22 amounts to $410

Putting the values above:

Amount = $280 + $410

= $690

Therefore, the amount of $690, which is to be recorded for the desks purchased by the Cobra company.

You might be interested in
Ayayai Inc. presented the following data. Net income $2,680,000 Preferred stock: 48,000 shares outstanding, $100 par, 8% cumulat
bezimeni [28]

Answer:

$1.35 per share

Explanation:

Note: See the attached excel file for the calculation of the weighted shares outstanding.

The earnings per share can be computed as follows:

Weighted shares outstanding = 1,702,000 shares

Preferred stock dividend = 48,000 * $100 * 8% = $384,000

Net income = $2,680,000

Net income after preferred stock dividend = $2,680,000 - $384,000 = $2,296,000

Earnings per share = Net income after preferred stock dividend / Weighted shares outstanding = $2,296,000 / 1,702,000 = $1.35 per share

Download xlsx
4 0
3 years ago
How much of the federal government's income comes from individual income tax? (1 point)
Lilit [14]
The right answer for the question that is being asked and shown above is that: "47 percent." the federal government's income comes from individual income tax is that of <span>47 percent. This is the correct answer as far as the federal government's income is concerned.</span>
5 0
3 years ago
Two weeks before his performance appraisal, John successfully resolved a service complaint involving one of the company’s most i
Sergeu [11.5K]

Answer:

The correct answer is Recency error.

Explanation:

Focus on the most recent performance evaluated: The evaluators can be guided by the most recent actions and / or attitudes, whether negative or positive, without considering the history of the collaborators. This error can give an unfair result and nothing representative.

A recency error is an inaccuracy or failure in the performance evaluation or job interview, caused by the dependence of the evaluator or the interviewer on the most recent events of the employee or applicant behavior.

5 0
3 years ago
Sarjit Systems sold software to a customer for $176,000. As part of the contract, Sarjit promises to provide "free" technical su
My name is Ann [436]

Answer:

DR Cash ..............................................................$ 176,000

CR Sales Revenue................................................................$149,600

CR Deferred Revenue..........................................................$26,400

Explanation:

Revenue should only be recorded when earned and as the 6 month technical support can be sold separately, it is revenue that has not be earned yet as the 6 months have not elapsed. This will therefore need to be recorded as Deferred revenue.

Sold alone, the revenue is more than when they are sold together so use the standalone price to find out the revenue when sold together by proportionality.

Sales revenue = 153,000/180,000 * 176,000

= $149,600

Deferred Revenue = 27,000/180,000 * 176,000

= $26,400

7 0
3 years ago
Rocky industries received its telephone bill in the amount of $300 and immediately paid it. rocky's journal entry to record this
loris [4]
Hi there

The journal entry would be

debit to telephone expense for $300
Credit to cash for $300

Good luck!
8 0
3 years ago
Other questions:
  • During the month of july, clanton industries issued a check in the amount of $845 to a supplier on account. the check did not cl
    15·2 answers
  • When president obama was elected, the u.s. economy was in trouble, and has slid into a recession. consumer spending was low and
    10·1 answer
  • market economies are distinguished from other types of economies largely on the basis of a. the political affiliations of govern
    13·1 answer
  • Recently you started noticing that a coworker is disinterested in his work. he has started coming in late and has taken to sitti
    6·1 answer
  • Sam wants to grow in his current role, and he decides to take a three-month skill enhancement course.
    14·1 answer
  • _____ involves determining the specific job tasks and responsibilities, the work environment, and the methods by which the tasks
    13·1 answer
  • Which of the following accounts allows full access to the system, while accessing other systems on the network? Local Admin acco
    14·1 answer
  • Helen, age 17, wanted to buy a motorcycle. She did not have the money to pay cash but persuaded the dealer to sell a cycle to he
    11·1 answer
  • A résumé should be only one or two typed pages.<br> True or False
    15·2 answers
  • the aarp (american association of retired persons) pays to run an advertisement on certain television stations about protecting
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!