All categories

3 years ago

Question:

Business

1 answer:

valina [46]3 years ago

6 0

Answer:

Explanation:

The journal entries are shown below:

1. Purchase A/c Dr $8,500

To Accounts payable A/c $8,500

(Being purchase of inventory is made on credit)

2. Freight-in A/c Dr $45

To Cash A/c $45

(Being freight charges is paid for cash)

3. Purchase A/c Dr $11,985

To Accounts payable A/c $11,985

(Being purchase of inventory is made on credit)

4. Account payable A/c Dr $20,485 ($8,500 + $11985)

To Cash A/c $20,280.15

To Purchase discount A/c 204.85 ($20,485 × 1 %)

(Being the payment is recorded)

You might be interested in

Calculate Producer Surplus if Reservation Price=20, Price=8, & Quantity=10.

Pavel [41]

C. 60
Explanation:
Producer's Surplus means the value producer derives from selling goods. For example, if producer is willing to sell the product for a price 8 but consumers are willing to pay a higher price, let's say 20, then producer achieves a surplus of 12 per unit. Let's calculate the producer's surplus -
As per question, Reservation Price (RP) =20, Price (P) =8, & Quantity (Q) =10
The formula for Producer Surplus (PS) is as follow:
PS = 1/2 (RP - P) x Q
= 1/2 (20-8) x 10 = 60

4 0

3 years ago

10. You are offered an annuity that will pay you $200,000 once every year, at the end of each year, for 25 years (i.e. the first

seraphim [82]

Answer:

PV= $2,749,494

Explanation:

Giving the following information:

Cash flow= $200,000

Number of periods= 25

Interest rate= 5.25%

<u>First, we need to calculate the future value using the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= annual cash flow

FV= {200,000* [(1.0525^25) - 1]} / 0.0525

FV= $9,881,102.14

<u>Now, the present value:</u>

PV= FV/(1+i)^n

PV= 9,881,102.14 / (1.0525^25)

PV= $2,749,494

6 0

3 years ago

Match each description with the corresponding group performance factor that best describes it.

Sladkaya [172]

Answer:

i b) Group cohesiveness

ii c) Group heterogeneity

iii a) Group norms

iv d) Social loafing

Explanation:

i b) Group cohesiveness (this terms refers to the strong link between members of a social group as a whole)

ii c) Group heterogeneity (Refers to inter functional collaboration, individuals from different fields will be working together)

iii a) Group norms (refers to the informal rules that a group adopts and regulate on its own)

iv d) Social loafing (this terms refers to the idea that people are prone to exert less effort while working in a group, considering that others will take care of the work)

3 0

3 years ago

When marginal revenue equals marginal cost, the firm a. should increase the level of production to maximize its profit. b. may b

love history [14]

When marginal revenue is equal to the marginal cost, then the firm should increase the level of production to maximize its profit.

Marginal revenue simply means the increase in revenue that a company makes as a result of selling an additional output of good. Marginal cost is the cost that a company incurs for production of one extra unit of good.

It should be noted that when the marginal cost if a firm is more than the marginal revenue, it means that the firm is producing too much.

When the marginal revenue of the firm equals the marginal cost, then the firm should maximize its profit.

The correct option is A.

Read related link on:

brainly.com/question/10822075

4 0

2 years ago

What would you say is the key difference between a nft and an art print?.

djverab [1.8K]

NFT art differs from traditional art in that it is entirely digital and can only exist in digital wallets on a specific blockchain. An art print, on the other hand, is an image on paper that does not exist on the digital wallets.

A non-fungible token (NFT) is a non-transferable data unit that may be sold and traded on a blockchain, which is a sort of digital ledger.

Cryptocurrencies and physical money are both "fungible," meaning they may be traded or exchanged for one another.

In fact, anyone can make an NFT and sell it on a marketplace for NFTs.

Thus, NFT is the digital wallets and art print is the non digital wallet

For further details about NFT, click here:

brainly.com/question/24977458

3 0

2 years ago