Answer:
The answers are:
- Cr Accounts receivable $4,000
- Dr $3,332 Cash
- Dr $68 Sales discount
- Dr $600 returned merchandise (damaged)
Explanation:
The credit terms of 2/10, n/30 means that if Hannah Company pays within ten days, they will get a 2% discount, or they have thirty days to pay the full receipt.
Hannah's check should be for:
($4,000 - $600) x 0.98% = $3,400 x 0.98% = $3,332
Arter Company should record the following entries:
Cr Accounts receivable $4,000
Dr $3,332 Cash
Dr $68 Sales discount
Dr $600 returned merchandise (damaged)
By the year of 2013 the number of high school students took classes that could earn them college credits in advanced placement or international baccalaureate course has increased to 33 percent, it is only 19 percent in the year 2003 so it had increase by 24 percent but the answer is 33 percent.
It’s the second one
(Send extra money each month)
Hope this helps!
Answer:
Total production cost $ 14 per unit Under absorption costing True
The total product cost per unit when 4,000 units are produced would be $22.50 False
Explanation:
Direct labor $ 2 per unit
Direct material $ 3 per unit
Variable overhead $ 4 per unit
Total variable $ 9 per unit
Fixed overhead ($50,000/10,000 units) $ 5 per unit
Total production cost $ 14
Production Costs involve the fixed costs under absorption Costing. So the total Product cost under absorption costing is $ 14.
When 4,000 units are produced the production costs are as follows
Absorption Costing: 4,000 * 14= $ 56,000
Variable Costing : 4000 * 9= $ 36,000
So the second statement is false.
Answer:
$47,000
Explanation:
Computation for the net cash flows from operating activities using the indirect method.
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $28,000
Adjustments to reconcile net income to
Net cash provided by operating activities
Depreciation expense $15,000
Increase in Accounts Receivable -$2,500 ($8,000-$10,500)
Decrease in inventory $3,000
($21,000-$18,000)
Increase in accounts payable $5,000
(15000-10000)
Decrease in income taxes payable -$1,500 ($1,000-$2,500)
Net cash flows from operating activities $47,000
Therefore the net cash flows from operating activities using the indirect method is $47,000
