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drek231 [11]
3 years ago
12

A company took delivery of $50,000 of new inventory and agreed to pay cash to the supplier within 30 days. Which of the followin

g items would be increased by this inventory purchase transaction? (choose all that apply)
- Inventory

- Current Liabilities

- Total Stockholders
Business
1 answer:
Delvig [45]3 years ago
6 0

Answer:

- Inventory

- Current Liabilities

Explanation:

The journal to record the given transaction is shown below:

Inventory A/c Dr $50,000

         To Accounts payable $50,000

(Being the purchase of inventory is recorded)

Since the inventory is a purchase which increases the inventory so the respective account is debited and the account payable is credited as its increases in current liabilities

So, no impact on total stockholders

You might be interested in
Which of the following best describes the main difference between B2B and B2C transactions? B2B transactions involve transaction
Stolb23 [73]

Answer: B2B transactions involve transactions where the buyers and sellers are both businesses, while B2C involves transactions between businesses and consumers.

Explanation:

Business-to-business transactions are simply regarded as the transactions that takes place between one business and another business. This can occur when the business is looking for inputs for its production process.

Business-to-consumer transactions simply regarded as the transactions that takes place between a business and the customers. This occurs when a business sells its goods or services to the customers directly without the goods passing through the middlemen.

8 0
3 years ago
If you put $7000 in a saving account that earns 2% interest for 10 years, how much will you have in
blondinia [14]

Answer:

1) 56,000

2) 9,950

3) 8,479

4) 25,500

Explanation:

1)20% of 70.000=56.000

2)5% of 10.000=9.950

3)21% of 10.500=8.479

4)15% of 30.000=25.500

4 0
3 years ago
By lowering production costs, subsidies help foreign competitors gain export markets. True or False
Luden [163]

Answer:

False

Explanation:

Whenever, there will be reduced production costs, due to any reason in the economy, then the goods will be cheaper and accordingly the sale will be in abundance assuming other factors remain constant.

Thus, due to subsidies the cost to producers will be less and then exporters will not be able to get more share as domestic goods will cost cheaper.

Thus, there will not be any gain to foreign competitors in our domestic markets, as they will not get any share extra rather they will loose as a foreign competitor. In fact goods which are exported will also cost low, and therefore, will gain new customers.

Therefore, above stated statement is false.

5 0
3 years ago
National Orthopedics Co. issued 8% bonds, dated January 1, with a face amount of $550,000 on January 1, 2021. The bonds mature o
loris [4]

Answer:

1) the price of each bond:

PV of face value = $1,000 / 1.05⁸ = $676.84

PV of coupon payments = $40 x 6.4632 (PV annuity factor, 5%, 8 periods) = $258.53

market price per coupon = $935.37

2) journal entry to record issuance of the bonds:

January 1, 2021, bonds issued at a discount

Dr Cash 514,453.50

Dr Discount on bonds payable 35,546.50

    Cr Bonds payable 550,000

3) I used an excel spreadsheet    

4) June 30, 2021, first coupon payment

Dr Interest expense 25,722.68

    Cr Cash 22,000

    Cr Discount on bonds payable 3,722.68

5) December 31, 2024, last coupon payment

Dr Interest expense 27,236.45

    Cr Cash 22,000

    Cr Discount on bonds payable 5,236.45

December 31, 2024, bonds are redeemed

Dr Bonds payable 550,000

    Cr Cash 550,000

Download pdf
4 0
3 years ago
You are considering acquiring a common share of Sahali Shopping Center Corporation that you would like to hold for 1 year. You e
kodGreya [7K]

Answer:

$42.60

Explanation:

Current value = Future dividends and value*Present value of discounting factor(rate%,time period)

Current value =  $1.85 / (1+10%) + $45 / (1+10%)

Current value =  $1.85/1.1 + 45/1.1

Current value = $ 1.68181 + $40.91

Current value = $42.5918

Current value = $42.60

3 0
3 years ago
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