One of the three economic questions deals with deciding

At the beginning of 2018, the Redd Company had the following balances in its accounts: Cash Inventory Common stock Retained earn

gizmo_the_mogwai [7]

Answer:

Merchandise inventory 500 debit

Cash 500 credit

Accounts paaybles 350 debit

Merchandise inventory 350 credit

Accounts payables 5150 debit

Merchandise inventory 103 credit

Cash 5047 credit

Accounts Receivables 9000 debit

Sales revenue 9000 credit

COGS 6000 debit

Merchandise Inventory 6000 credit

Sales returns 800 debit

Account receivables 800 credit

Merchandise inventory 500 debit

COGS 500 credit

Fregith-out 600 debit

Cash 600 credit

loss on possesion 753 debit

merchandise inventory 753 credit

Explanation:

balance after the return:

5500 - 350 = 5150

discount 5150 x 2% = 103

cash disbursements: 5150 - 103 = 5047

balance after customer return:

9000 - 800 = 8200

discount 8200 x 2% = 164

cash proceeds 8036

Inventory accounting value:

beginning 2000

purchase 5500

fregiths 350

discount 103

sale -6000

return 500

ending 2453

psysical count 1700

We recognize a loss for 753 dollars

3 0

4 years ago

A truck that cost $72,000 and on which $60,000 of accumulated depreciation has been recorded was disposed of for $18,000 cash. T

Mekhanik [1.2K]

Answer:

Gain of $6,000.

Explanation:

Calculation to determine what The entry to record this event would include

Using this formula

Gain=(Accumulated depreciation+Cash)-Cost

Let plug in the formula

Gain=($60,000+$18,000)-$72,000

Gain=$78,000-$72,000

Gain=$6,000

Therefore The entry to record this event would include a gain of $6,000

4 0

3 years ago

In a sale or return, title and risk of loss remain with the seller until the buyer accepts the goods.

Lelechka [254]

True is correct answer.

Hope it helped you.

-Charlie

6 0

4 years ago

. Suppose absolute purchasing power parity holds. The exchange rate between British pounds and US dollars is British pound 0.75

svetoff [14.1K]

The stereo would cost 3750 British pound in Britain at the prevailing exchange rate.

Explanation:

Given details-

The exchange rate between the British pound and US Dollar- 0.75 British pounds for 1 USD

Cost of the stereo= 5000 USD

Proportionate cost of the stereo in the British pound-

Exchange rate conundrum can be understood in the following way easily-

It means that for every 1 USD, a person in Britain would shell out 0.75 British pounds. In other words, the British pound is dearer than USD.

Since the cost of the stereo is 5000 USD and 1 USD is 0.75 British pound

5000 USD would equal 5000* 0.75 British pound= 3750 British pound

cost of the stereo is 3750 British pound

3 0

3 years ago

Devine Linens (DL) must raise $14,000,000 to support future growth. If it raises the funds by issuing stock, DL must pay an inve

blsea [12.9K]

Answer:

D. $15,000,000

Explanation:

amount to be raised before 5%cost = $14,000,000 + $250,000

=$14,250,000

then:

100 - 5 = 95% ~~ $14,250,000

100% ~~ $ 15,000000

Therefore, the amount required to be raised is $15,000,000.

5 0

3 years ago