Answer:
Date Account titles & Explanation Debit Credit
Sep 04 Purchases (70 backpacks*$50) $3,500
Accounts payable $3,500
Sep 06 Accounts payable $300
Purchase return and allowances $300
Sept 09 Accounts receivable $1,260
(15 backpacks*$84)
Sales $1,260
Sept 13 Accounts payable $3,200
(64 backpacks*$50)
Purchase discount (3,200*2%) $64
Cash (3,200*98%) $3,136
Answer:
The organization charged with protecting investors and the public by requiring full disclosure f financial information by companies offering securities to the public is the:_______
d. Securities and Exchange Commission.
Explanation:
The SEC (Securities and Exchange Commission) is an organization that has continued to discharge three main responsibilities with regards to the securities market. It has protected investors' investments in the capital market, maintained fair, orderly, and efficient capital markets, and facilitated capital formation. It regulates investments and the exchange of securities. It restores confidence in the capital market. It also provides transparency into the financial workings of U.S. companies.
Answer:
a) 493.71
b) 987.42
c) 987.42
Explanation:
a) The formula for Economic Order Quantity (EOQ) is :
EOQ = 
where
- D : Demand in Units (typically on annual basis)
- S : Order cost (per purchase order)
- H : Holding Cost (per unit, per year
Therefore EOQ = 
EOQ = 493.71
b) Annual Holding Cost= (Q * H) / 2 = 
= 987.42
c) Annual ordering cost = (D * S) / Q = 
= 987.42
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