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stealth61 [152]
3 years ago
10

The company shipped merchandise valued at $100,000 F.O.B. destination on December 28, Year 3, and recorded the sale and relief o

f inventory on that date. The customer received the merchandise on January 4, Year 4. The merchandise has a profit margin of 20%. Record the necessary Year 3 adjustments, if any.
Business
1 answer:
kondor19780726 [428]3 years ago
8 0

Answer:

The company must not make any adjustment entries in year x3 since the FOB means "Free on board" and at the moment the buyer delivers the goods at the port of shipment, at that time the risks of loss or damage of merchandise are transferred to the buyer from the seller

When this happens, the sale is made since the seller no longer owns the merchandise.

n this case, the seller does not own the merchandise since December 28 and has already made the corresponding records. so he should not make any adjustments.

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<em>During political business cycles the ups and downs of the economy are best explained through analyzing public policy. In a political business cycle we should expect that there will be some manipulations when using policy to try to make the politicians appear more competent than they are. In 1972, the Nixon administration basically increased the Social Security payments made to Seniors by 20%, 1972, was of course an election year, so the Nixon administration manipulated economic fluctuations due to his fiscal policy.</em>

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3 years ago
Why do you think economists can be certain that every
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Answer:

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7 0
3 years ago
Suppose you are buying your first condo for $145,000, and you will make a $15,000 down payment. You will finance the remainder w
postnew [5]

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5 0
3 years ago
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stepladder [879]

Answer:

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