1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kicyunya [14]
3 years ago
7

Rolfes Company purchased merchandise on account from a supplier for $7,500, terms 1/10, n/30. Rolfes Company returned $1,200 of

the merchandise and received full credit. If Rolfes Company pays the invoice within the discount period, what is the amount of cash required for the payment? If required, round the answer to the nearest dollar.
Business
1 answer:
Blababa [14]3 years ago
6 0

Answer:

$6,237

Explanation:

The computation of the cash required for the payment is shown below:

= Merchandise amount - return and allowances - discount

= $7,500 - $1,200 - $63

= $6,237

The discount = (Merchandise amount - return and allowances) × discount rate

= ($7,500 - $1,200) × 1%

= $63

Simply we consider the items i.e merchandise purchase amount, returned merchandise amount and the discount given amount

You might be interested in
Abc manufacturers conducts commercial transactions across national boundaries. abc manufacturers would be classified as a(n) ___
Elina [12.6K]
The answer to this question is "International Business". This would be the classification when the ABC manufacturers conduct commercial transactions across the national boundaries. The international business includes all private and public commercial transactions between two or more regions which these regions are covered by the same political territories. The commercial transactions could include any form of investments, logistic, sales, and others.
7 0
3 years ago
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine each of the following:
vfiekz [6]

Answer:

The following are the answers to the question, using the FASB Acounting Standards Codification at the FASB website:

1. Topic 260, FASB Accounting Standards Codification is the topic number (Topic XXX) that provides the accounting for earnings per share.

2. FASB ASC 260-10-50-1

3. FASB ASC 260-10-50-2

3 0
2 years ago
(Ignore income taxes in this problem.) The management of Stanforth Corporation is investigating automating a process. Old equipm
solniwko [45]

The simple rate of return on the investment is closest to: <u>34.5%</u>

<u>Explanation</u>:

<em><u>Given</u></em>:

Current salvage value = $15,000

Cost of new machine = $408,000

Cash operating cost = $141,000

Simple Return on Investment is Calculated as follows:-

Simple rate of return on the investment = Net Operating Cost Saved/ Initial Investment X 100

So Simple Return = 141000/408000 X 100

= 34.5%

The simple rate of return on the investment is closest to: 34.5%

3 0
3 years ago
In the second half of 2019, automobile sales in the United States were lower than they were in the second half of 2018. The decr
Monica [59]

In the second half of 2019, automobile sales in the United States were lower than they were in the second half of 2018. The decrease in auto sales impacts GDP because new automobiles are counted as <u>consumption </u>when purchased by households and <u>investment</u> when purchased by businesses.

Gross domestic product (GDP) is the overall monetary or market value of all of the goods and services produced within a country's borders in a particular time period.

GDP can be calculated by adding up all of the money spent by consumers, businesses, and the government in a given period. It may also be calculated by adding up all of the money received by all the participants in the economy.

learn more about Gross domestic product (GDP) here

brainly.com/question/1383956

#SPJ4

3 0
2 years ago
A number between 1 and 15
alexgriva [62]

Answer:

The probability is 0.20 or 20%

Explanation:

we know that

The probability of an event is the ratio of the size of the event space to the size of the sample space.  

The size of the sample space is the total number of possible outcomes  

The event space is the number of outcomes in the event you are interested in.  

so  

Let

x------> size of the event space

y-----> size of the sample space  

so

P=\frac{x}{y}

In this problem we have  that

Multiple of 5 between 1 and 15 = 5, 10,15

so

x=3

Total numbers between 1 and 15=15

so

y=15

substitute

P=\frac{3}{15}=0.20

Convert to percentage

P=0.20(100)=20\%

8 0
3 years ago
Other questions:
  • $1,000 of supplies were purchased at the beginning of the month. $300 were used during the month. (The Supplies account was incr
    5·1 answer
  • The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31.
    7·1 answer
  • Fitness Fanatics is a regional chain of health clubs. The managers of the clubs, who have authority to make investments as neede
    14·1 answer
  • Which of Daniel’s reasons for rejecting insurance are reasonable?
    12·1 answer
  • The management of L Corporation is considering a project that would require an investment of $225,000 and would last for 6 years
    9·1 answer
  • The job of an ethics officer is to serve as a counselor for employees
    11·1 answer
  • Which of the following factors, all else being equal, will increase the net present value of cash? 1) increase in reclamation 2)
    7·2 answers
  • A deductible requires a person with an insurance policy to:
    5·1 answer
  • The Coca-Cola Company uses a job-order costing system. True or False: Job-order costing uses the actual direct materials cost of
    7·1 answer
  • A recent annual report for FedEx contained the following data:
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!