Answer:
avoid supplier delivery problem
Explanation:
Supply chain management can be defined as the effective and efficient management of the flow of goods and services as well as all of the production processes involved in the transformation of raw materials into finished products that meet the insatiable want and need of the consumers. Generally, the supply chain management involves all the activities associated with planning, execution and supply of finished goods and services to the consumers.
The fundamental principle of supply chain management is the complete collaboration between multiple firms. These multiple firms include a company that is saddled with the responsibility of manufacturing producer), a wholesaler, and a retailer who typically sells the products to the customers or consumers.
Basically, these three (3) firms or individuals are required to collaborate with each other so as to meet the needs of the customers in a timely manner or fashion and at a fair price too.
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
A penalty clause can be defined as an express provision in a contractual agreement which places an obligation or penalty such as a forfeit or fine, upon the party who has breached a contract by providing compensation to the victim or aggrieved party.
Hence, the purpose of penalty clauses in purchasing agreements is to avoid supplier delivery problem between the producers, wholesaler, retailer and consumers or buyers and sellers.
Answer:
$50,258.
Explanation:
According to the scenario, computation of the given data are as follow:-
We can calculate the deposit amount at the end of 15 years by using following formula:-
Deposit Amount per year(PMT) = $2,000
Interest rate = 7% = 0.07
Deposit year (n) = 15 years
Future value(FVIFA) = PMT × [{(1 + interest rate)^number of years - 1} ÷ interest rate]
= $2,000 × [{(1 + 0.07)^15 - 1} ÷ 0.07]
= $2,000 × [{2.7590315 - 1} ÷ 0.07]
= $2,000 × [1.7590315/0.07]
= $2,000 × 25.129022
= $50,258
According to the analysis total deposit at the end of the year is $50,258.
Answer:
The financial statements are prepared in this order; income statement, balance sheet, and statement of stockholders' equity.(2,1,3)
Explanation:
The income statements contains the revenue and expenses, the net of which gives rise to a net income. The net income is what feeds into the retained earnings account to determine the closing balance of the retained earnings which is an element of the balance sheet.
After the income statement, the balance sheet is prepared. This shows the assets, liabilities and owners equity (of which retained earnings is a part).
The elements of the owners equity forms an integral part of the statement of stockholders' equity. Hence it is prepared after the balance sheet.
Answer:
$6,500
Explanation:
First In First out (FiFO) is an Inventory method which determines the inventory value and it requires that the unit purchased first will be sold first.
Units Cost Value Balance
Beginning Inventory 3,700 $5 $18,500 $18,500
February
Purchases 5,700 $4 $22,800 $41,300
March
Purchases 2,700 $6 $16,200 $57,500
Sale -1,300 $5 ($6,500) $51,000
Cost of Goods sold is the cost of sold units on the basis of FIFO inventory costing method.
