Answer:
The amount of check is $4,554
Explanation:
Term 1/10, n/30 means there is a discount of 1% is available on payment of due amount within discount period of 10 days after sale and net credit period of 30 days.
According to given data
Sales = $6,000
Returns = $1,400
Amount due = $6000 - $1,400 = $4,600
As the payment is made within discount period, so discount will be availed
Discount = $4,600 x 1% = $46
Amount of Check = $4,600 - $46 = $4,554
Answer: c.
Explanation: The unemployment rate may underestimate the true extent of unemployment if there are a large number of people working in the underground economy . While the underground economy also known as the black economy may conjure up images of drug deals and prostitution rings, the term actually has much broader scope. It refers not only to illegal economic activity, but all economic activity that goes unreported to government authorities and consequently, avoids being taxed. one of the primary reasons the underground economy exists is that people are trying to evade taxes. But increased government regulations that can make the cost of doing business higher also create an incentive to avoid reporting certain economic activity to the government. An increase in the number of unemployed increases the number of people who work in the black economy because they have more time. On the other hand, an increase in unemployment implies a decrease in the shadow economy.
Answer:
b) Debit Cash $7,000; credit Common Stock $6,000; credit Paid-in Capital in Excess of Par Value, Common Stock $1,000.
Explanation:
When shares are issued and paid for, the entries required are debit to cash account and a credit to common stock. However, when the amount received is higher than the par value of the stock issued, the excess received is recorded as a share premium or Paid-in Capital in Excess of Par Value.
As such, where the par value is $100 and 60 shares were issued, value of common stock issued
= $100 * 60
= $6,000
Paid-in Capital in Excess of Par Value = $7,000 - $6,000
= $1,000
Answer:
A) The use of both techniques ( i.e. questionnaire and Interview )
B) The sampling method should include an equal number of workers from each shift, this is to ensure that every shift's opinion is broadly covered.
Explanation:
A) The best approach in resolving this problem is the application of both questionnaires and interviews, this is because the questions will be covered in both the questionnaire and interview therefore a more detailed/accurate answer can be gotten by combining both processes
B) The sampling method should include an equal number of workers from each shift, this is to ensure that every shift's opinion is broadly covered.
Answer:
Liability for product warranty at month end is $4810
so correct option is E) None of these
Explanation:
given data
time = 45 days
defective = 8%
average repair cost = $65 per unit
total sales = 1,000 units
repaired = 6 unit defective
to find out
liability for product warranties at month end
solution
we know that First Month Sales units = 1,000
and First month estimated liability in units @8 % is = 80
and here Defective Units already repaired is 6
Additional liability in unit is = 80 - 6 = 74
and Additional liability @$65 per unit will be = 74 × 65 = 4810
So Liability for product warranty at month end is $4810
so correct option is E) None of these
