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Temka [501]
3 years ago
14

A company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 9, 20

18, for $54,000 and then sells this inventory on account on March 7, 2018, for $74,000. Record the transactions for the purchase and sale of the inventory.
Business
1 answer:
poizon [28]3 years ago
6 0

Answer:

The transaction recorded are shown in the below table.

Explanation:

According to the scenario, the following transaction according to the perpetual system can be recorded as follows :

Date                        Particulars                    Debit                    Credit

Feb.9                   Purchase Inventory              $54,000

                            Accounts payable                                            $54,000

Mar.7                   Accounts Receivable            $74,000

                            Sales inventory                                                    $74,000

Mar.7                    Cost of goods sold                    $54,000

                            Inventory                                                              $54,000

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Present value computation kerry bales won the state lottery and was given four choices for receiving her winnings. receive $400,
Mekhanik [1.2K]
Option 1: PV = $400,000
Option 2: Receive (FV) $432,000 in one year

PV = FV(1/(1+i)^n), where i= 8% = 0.08, n = 1 year

PV = 432,000(1/(1+0.08)^1) = $400,000

Option 3: Receive (A) $40,000 each year fro 20 years

PV= A{[1-(1+i)^-n]/i} where, n = 20 years

PV = 40,000{[1-(1+0.08)^-20]/0.08} = $392,725.90

Option 4: Receive (A) $36,000 each year from 30 years
PV = 36,000{[1-(1+0.08)^-30]/0.08} = $405,280.20

On the basis of present value computations above, option 4 is the best option for Kerry Blales. This option has the highest present value of $405,280.20

4 0
3 years ago
Inventory records for Dunbar Incorporated revealed the following: Date Transaction Number of Units Unit Cost Apr. 1 Beginning in
Drupady [299]

Answer:

$816

Explanation:

Calculation for Dunbar Incorporated Ending inventory

Formula for Ending inventory units using FIFO method:

Ending inventory units = Beginning balance + Purchase -sales

Leg plug in the formula

490+410 - 600

= 300units

Calculation for Ending inventory

Ending inventory = 300*2.72

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3 0
3 years ago
Supply chain management refers to A. how the firm compensates the employees who work on the​ firm's internal stages of productio
scoundrel [369]

Answer:

B. the decisions around which stages of production to handle internally and which to buy from others.

Explanation:

Supply chain management is fundamentally concerning with the management of a firm's reception of inputs in order to produce output, and with a firm's delivery of those outputs to the final customer.

For example, some firms can have the capability to supply their own raw materials internally, transform them into a finished product, and send the products to the customer.

Other firms have more complicated supply chains: they may buy the raw materials, produce a part of the good in a place, another part in another place, and hire another company to make the deliveries.

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Buyers Sam and Linda Pope are entering into a contract with sellers, Jim and Alana Jones in which part of the sale price of the
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Answer:

d) Installment sales contract

Explanation:

A contract is described as an agreement between two or more parties commits to undertakes specific obligations.  In a sale contract, the buyer and seller agree to the exchange or foods or services for a consideration called price.

An installment sale contract is an agreement that allows the buyer to make payment for the goods or services over time. Once an agreement has bee reached, the buyer takes possession of products and is free to use them. The buyer makes regular payments for the goods (installments) and will claim ownership upon completing payments. An installment sale contract is a form of credit sale.

8 0
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How companies can link their compensation and evaluations to organizational objectives?
kicyunya [14]

Answer:

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Explanation:

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