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andrew-mc [135]
3 years ago
12

This information relates to Rice Co..

Business
1 answer:
hodyreva [135]3 years ago
3 0

Answer:

Rice Co.

Journal Entries:

April 5:

Debit Inventory $28,000

Credit Accounts Payable (Jax Company) $28,000

To record the purchase of goods, terms 2/10, n/30.

April 6:

Debit Freight-in Expense $700

Credit Cash Account $700

To record the payment of freight costs for goods purchased from Jax Company.

April 7:

Debit Equipment $30,000

Credit Accounts Payable $30,000

To record the purchase of equipment on account.

April 8:

Debit Accounts Payable (Jax Company) $3,600

Credit Inventory $3,600

To record the return of goods to Jax Company.

April 15:

Debit Accounts Payable (Jax Company) $24,400

Credit Cash Discount $488

Credit Cash Account 23,912

To record the full settlement on account.

Explanation:

Rice Co's journal entries are made on a daily basis as transactions occur.  They show the accounts to be debited and the ones to be credited in the general ledger.  Journal entries are the initial records of transactions made by the company in its accounting system.

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You own a building that has four possible uses: a cafe, a craft store, a hardware store, and a bookstore. The value of the build
Svetlanka [38]

Answer:

The opportunity cost = $2.5

Explanation:

Given:

You own a building that has four possible uses: a cafe, a craft store, a hardware store, and a bookstore. The value of the building in each use is $2,000; $3,000; $4,000; and $5,000, respectively.You decide to open a hardware store.

<u>Question asked:</u>

The <u>opportunity cost of using this </u><u>building for a hardware store</u> ?

<u>Solution:</u>

As we know:

Opportunity\ cost =\frac{What\ you\ sacrifice}{What\ you\ gain} \\ \\

What you sacrifice = Value of a cafe + Value of a craft store + Value of a bookstore

                              = $2000 + $3000 + $5000 = $10,000

What you gain = Value of a hardware store

                        = $4000

Thus, the opportunity cost of using this building for a hardware store is $2.5

7 0
3 years ago
The team-centered decision-making model is preferred when: relevant information and expertise is found in a few select individua
Law Incorporation [45]

Answer:

Participation is needed to obtain necessary commitment

Explanation:

Decision Making Process is a process of Evaluation of various alternatives available through several methods like forecasting.

During evaluation, risk, time and the efficiency of these alternatives are checked.

Team-centred decision making style is preferable when;

1. Relevant information and how to go about issues cannot be not properly arranged by one person

2. Participation is needed for commitment

3. Making one individual as the central power hurts the team

4. If an uncommon decision is to be made

8 0
3 years ago
Jeremy has been out of school for two years, has a good job, and recently got a raise. He is excited about investing and always
Tems11 [23]

Answer:

Jeremy has to continue to save.

Explanation:

  • Jeremy should keep saving his money.
  • In case a situation arises, he needs to keep saving his resources and he needs the money for something else than he has got into trouble.
  • Jeremy will adhere to his spending strategy to pay off his loan within 15 months.
  • by follow these process he will continue his saving as well as repay the loan also .

4 0
3 years ago
In their evaluation of his performance as a trainer in the sales department of Pharmex, Heath's supervisors look at such factors
belka [17]

Answer: B. Job performance

Explanation:

Job performance simply means the level to which the job responsibilities of an employee is being successfully fulfilled by the person.

Since the factors being evaluated are the amount of time that the trainer spends with each of his trainees, the coverage of key points, his success rate in turning out trained salespeople within the amount of time allotted etc, then it can be infer that his job performance is being evaluated.

3 0
2 years ago
You are considering investing $1,000 in a T-bill that pays 0.05 and a risky portfolio, P, constructed with two risky securities,
kozerog [31]

Answer:

$240; $160

Explanation:

The computation is shown below:

As we know that

if there is 40% of money engaged in the risk portfolio is

= $1000 × 40%

= $400

Now amount in X is

= $400 × 0.60

= $240

And, the amount in Y is

= $400 × 0.40

= $160

hence, the last option is correct

All other valeus i.e. given in the question is not relevant. hence, ignored it

5 0
3 years ago
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