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S_A_V [24]
3 years ago
6

On May 1, Shilling Company sold merchandise in the amount of $5,800 to Anders, with credit terms of 2/10, n/30. The cost of the

items sold is $4,000. Shilling uses the perpetual inventory system and the gross method. The journal entry or entries that Shilling will make on May 1 is (are):
Business
1 answer:
Illusion [34]3 years ago
8 0

Answer:

The journal entry that is to be recorded on May 1 is shown below:

Explanation:

May 1

The first entry to be posted:

Accounts Receivable A/c...................Dr     $5,800

       Sales A/c............................................Cr      $5,800

As the company made a sale, so the sale is credited and it made against the accounts receivable. Therefore, accounts receivable account is credited.

The second entry to be posted is as:

Costs of goods sold A/c....................Dr   $4,000

       Merchandise inventory A/c...................Cr   $4,000

The cost of the goods sold amounts to $4,000. So, the account of COGS is debited and it is against the inventory. Therefore, the merchandise inventory is credited.

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While on the other hand, the limited partners are usually someone having goodwill or market experience. They have liability to the extent of their investment and do not take part in management.

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Which of the following helps economists judge the overall condition of a
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Answer:

Measuring economic indicators helps economist judge the overall conditions of a country's economy.

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2 years ago
Aggregate demand is everything produced while simple demand is one good. which statement reflects simple demand?
liq [111]
B because it’s most average
8 0
3 years ago
Complete the following table by indicating whether or not each scenario is an example of price discrimination.
Monica [59]

Answer: yes; no

Explanation:

Price discrimination is an exploitative  selling strategy that  sellers use to try to charge their customers on  different prices for the same product or service.

Last-minute "rush" tickets can be purchased for most Broadway theater shows at a discounted price. They are typically distributed via lottery or on a first-come, first-served basis a few hours before the show. Assume that the theater in question does not hold seats in reserve for this purpose, but rather offers rush tickets only for seats not sold before the day of the performance......... YES PRICE DISCRIMINATION OCCURS

---.>In this case, the groups are  segmented into those who paid earlier at normal price and those who paid in relation to the rush at discounted price, A case  price discrimination arises because the  people who  have paid more than others for a same show, would not be reserved seats which means that  the product was same for the two type of consumers but not the same price

Horizon Wireless offers various features "à la carte" that a customer may add to his or her calling plan, such as a text messaging package, a data package, and an Internet package. NO PRICE DISCRIMINATION

---->This is because Because Horizon Wireless is offering the different features  with  a la carte pricing, where every customer is subject to the same pricing irrespective  of his or her calling plan.

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3 years ago
The area of accounting that serves the decision-making needs of internal users is referred to as (managerial/financial/research)
zepelin [54]

Answer: Managerial Accounting

Explanation:

Managerial accounting refers to the preparation of reports and analysis from the company's accounting information to enable managers decide the ways to go with a company.

This type of accounting is for internal use and so is not subject to the kind of scrutiny that financial accounting gets from accounting bodies such as IASB and the FASB.

An example would be the Supply Manager may ask for a report to be made showing them the increase in supply costs for the past decade from their preferred supplier to enable them make a decision on if to find a new supplier.

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3 years ago
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