Answer:
(A) June 4
Inventory debit 1,065
Accounts Payable credit 1,065
(B) June 15
Inventory debit 1,550
Cash credit 1,550
(C) June 30
Accounts Payable debit 1,065
Cash credit 1,065
Explanation:
(A) there is no information or suggestion that Lweis will take the discount, we post as it was nominal, if later on it is paid within the discount period, we will recognize it. <u>No discount is recorded</u>
(B) Simple: increase the inventory receive and decrease cash by the amount paid.
(C) We settle the account payable for the nominal of the purchase.
It wasn't within the discount period. So <u>no discount is granted.</u>
States dont collect income tax the government does so B
The amount of discount that has to be included in Francis's income is 0.
<h3>How to solve for the discount amount</h3>
The amount of the discount - sales price
= 300 - 250
= $50
This is the discount when it is sold to employees
Next we solve for the gross profit as
sales price x gross profit rate
= 300 x 30%
= 90
Given the amounts that we have here we have to conclude that the amount to be included in the account is 0
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Answer:
$950
Explanation:
Since the total amount of items purchased by the thief is $950, then Brandon has to pay back the amount deducted from his card.
Because companies target different customers with different kinds of products and services, performance measures should be tailored to the specific strategy of a company.
An organization's long-term objectives and the plan it has to achieve them are referred to as its strategy. In other words, it demonstrates the strategy for achieving the stated goal. The specific steps taken to accomplish the objectives in accordance with the strategy are referred to as a tactic. A plan outlines the ways by which the outcomes (goals) will be accomplished (resources). Strategy can be predetermined or it can develop organically when an organization competes or changes its surroundings. It entails tasks like strategic planning and strategic thought. Business, operational, and transformational strategies are all types of strategy. The five Ps each stand for a different method of strategy. Plan, Ploy, Pattern, Position, and Perspective fall under this category. These five factors make it possible for a business to create a more effective plan.
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