A great business idea is

At the beginning of July, CD City has a balance in inventory of $2,850. The following transactions occur during the month of Jul

myrzilka [38]

Answer:

Inventory 1750 debit

Accounts Payable 1,750 credit

--to record purchase--

Inventory 120 debit

Cash 120 credit

--to record payment of freights--

Accounts Payable 400 debit

Inventory 400 credit

--to record returned goods--

Accounts Payable 1350 debit

Inventory 27 credit

Cash 1323 credit

--to record payment within discount--

Accounts Receivables 4700 debit

Sales Revenues 4700 credit

--to record sale--

COGS 2450 debit

Inventory 2450 credit

--to record COGS of the previous sale--

Cash 4700 debit

Accounts Receivables 4700 credit

--to record collection in full amount--

Inventory 2550 debit

Accounts Payable 2550 credit

--to record purchase--

Accounts Receivables 3650 debit

Sales Revenues 3650 credit

--to record sale--

COGS 1950 debit

Inventory 1950 credit

--to record COGS of the previous sale--

Accounts Payable 190 debit

Inventory 190 credit

--to record returned goods--

Accounts Payable 2360 debit

Inventory 47.2 credit

Cash 2312.8 credit

--to record payment within discount--

Explanation:

We reocrd each entry assuming the basic accounting principles

debit = credit

first purchase balance:

1,750 less 400 return = 1,350

discount 1,350 x 2% = 27

cash outlay 1,350 - 27 = 1,323

second purchase balance:

2,550 less 190= 2,360 balance

discount 2,360 x 2% discount = 47.20

cash outlay 2,360 - 47.20 = 2312.8

4 0

4 years ago

Clyde contracts with Deephole Excavation, Inc., to dig an agricultural pond on his farm. Deephole is to keep the excavated grave

Inessa05 [86]

Answer:

Answer is option b i.e. Discharged.

Explanation:

Discharge of a contract takes place either on completion of a contract or when a contract is terminated due to various reasons like; discharge by mutual agreement, discharge by the impossibility of performance, discharge of contract due to lapse of time, discharge by operation of law, and discharge by breach of contract. Here, in the given case, the contract between Clyde and Deephole Excavation Inc. is discharged by the operation of law as the court has ordered to halt the digging further.

5 0

3 years ago

Although there are advantages and disadvantages to home-based workers for both the employer and employee the disadvantages to em

ella [17]

Explanation:

The disadvantages of home work can directly impact the employer, the employee and society by reducing the interaction of workers in the organizational environment.

Social interaction at work is an advantageous factor for the conception of new ideas, innovation, problem solving, and relationships that can encourage and motivate the performance of work.

For the worker, it can directly impact their motivation for work, which can generate stressful situations due to the lack of interaction with other co-workers. For the employer it can mean difficulties in coordinating and monitoring work, ineffective communication, etc.

For society, on the other hand, it can constitute significant changes in work, which can cause difficulties in interpersonal relationships, and difficulty for group living.

5 0

3 years ago

Where can you go in the Banking Center to review downloaded bank feed transactions that have already been matched to existing tr

hjlf

Answer:

Where can you go in the Banking Center to review downloaded bank feed transactions that have already been matched to existing transactions in QuickBooks Online?

a. For Reviewed tab

Explanation:

In QuickBooks online, you have the Reviewed tab where you can download at least the last 90 days of transactions, made with your bank or credit card. QuickBooks is also able to categorize all the downloaded transactions you have done. In the reviewed tab you can find all the accepted bank transactions.

5 0

3 years ago

What two project dimensions are components of project performance?

Allisa [31]

The answer is "Scope and quality" are two project dimensions which are components of project performance.

Scope refers to the sum of products, services, and results which are provided as a project and if we define this more simply, it is the size of a project or task. Quality is defined as how well the segments or components satisfy the project requirements or necessities.

5 0

4 years ago

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