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igor_vitrenko [27]
2 years ago
11

Jackson Company uses a perpetual inventory system. On November 30, it purchased $10,000 of merchandise and it must pay the $200

shipping charges. The credit terms for the merchandise were 2/10, n/30. The company paid for both the merchandise and the shipping charges nine days after their invoice dates. Which of the following is part of the required journal entry when Jackson pays the shipping charges of $200A) A debit to Inventory for $200
B) A debit to Freight-in for $200
C) A debit to Freight-out for $200
D) A debit to Cash for $200
E) A credit to Accounts Payable for $200
Business
1 answer:
pshichka [43]2 years ago
8 0

Answer:

Option (A) A debit to inventory for $200

Explanation:

The entire cost of purchasing products (including the cost of having the inventory shipped to the buyer) is reported as part of the cost of the inventory in a perpetual inventory system.

The entry of paying the charges for shipping is included in debit to inventory for $200 and a credit to cash for $200.

Hence,

The answer is option (A) A debit to inventory for $200

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Aubey Aircraft recently announced that its net income increased sharply from the previous year, yet its net cash flow from opera
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Option D) The company's depreciation and amortization expenses declined

Explanation:

When Aubey Aircraft´s depreciation and amortization decrease, it has less cost of sales and an improvement in the Gross Margin, hence,  in the Net Income, but this enhancement in the Net Income has an opposite effect on Net Cash Flow because less depreciation and amortization means less Net Cash Flow,  

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Lambert Manufacturing has $120,000 to invest in either Project A or Project B. The following data are available on these project
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Answer:

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Explanation:

The computation of the Net present value is shown below  

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