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zzz [600]
3 years ago
12

The journal entry to record the receipt of a payment within the discount period on a sale of $900 with terms of 2/10, n/30 will

include a
Business
1 answer:
Triss [41]3 years ago
3 0

Answer and Explanation:

Given that

The Sale is made for $900

Terms 2/10, n/30 that means if the payment is made within 10 days than 2% discount is eligible and the total credit period allowed is 30 days

Now the journal entry to record the receipts of a payment within discount period is

Cash Dr $882

Sales discount $18

            To Account receivable $900

(Being the cash received)

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What are some advantages of students being exposed to computer software? (as it relates to Accounting)
ivann1987 [24]

Answer:

There are many advantages in students being exposed to accounting softwares.

-There productivity increases as they can engage in more work in less time

-The accuracy of the accounting process increases as well, mainly lyrics because there is no room for human errors

-the process becomes easier and less time consuming, this makes accounting less complicated and more attractive as a subject for the students

Explanation:

5 0
3 years ago
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: i can't believe it! now our pay depends on meeting goals! doesn't effort count for anything anymore? i have the same goals tha
viva [34]

Setting the pay according to the goals achieved by a group may not be considered beneficial to everyone, thus decreasing motivation. Pay-for-performance or according to individual performance may help motivate the employee but increasing individuality in terms of performance may also decrease group cohesiveness or group-related values. The speaker here shows depreciation by undervaluing another's work to overvalue or protect one's own.

6 0
3 years ago
Consider two very different firms, M and N. Firm M is a mature firm in a mature industry. Its annual net income and net cash flo
Bumek [7]

Answer:

a. Firm M probably has a higher dividend payout ratio than Firm N.

Explanation:

The dividend payout ratio is commonly referred to a portion of the net income of the company which is paid to the various shareholders in dividends. Therefore, if we consider the statements made in the question, Firm M has a higher annual net income while the annual net income of Firm N is fluctuating, we can conclude that the dividend payout ratio of Firm M is more than that of Firm N.

6 0
3 years ago
Larkspur Corporation manufactures drones. On December 31, 2019, it leased to Althaus Company a drone that had cost $104,800 to m
Lady_Fox [76]

Answer:

First find the present value of the lease. Payments are constant and fixed so this is an annuity. As it is to be paid from the beginning, it is an Annuity due.

= Annuity * Present value interest factor of annuity due, 5 years, 7%.

= 37,400 * 4.3872

= $164,081

Date                          Account Details                            Debit              Credit

Dec. 31, 2019            Lease Receivable                         $164,081

                                 Cost of goods sold                       $104,800

                                 Sales                                                                    $164,081

                                 Inventory                                                             $104,800

Date                          Account Details                           Debit                Credit

Dec. 31, 2019           Cash                                             $37,400

                                 Lease Receivable                                               $37,400

5 0
3 years ago
During 20x8, a firm discontinued a component qualifying for separate disclosure within the income statement. The disposal was co
MAVERICK [17]

Answer:

  1. IFCO for 20x7 as it is reported comparatively in the 20x8 statements  = $5,600
  2. IFCO for 20x8 = $6,800

Explanation:

1) IFCO for 20x7 as it is reported comparatively in the 20x8 statements, should not include the $400 operating income from the component = $6,000 - $400, or $5,600.

2) IFCO for 20x8 should not include the gains resulting from the disposal of the component nor the losses generated by it = $7,000 - $300 + $100 = $6,800

4 0
3 years ago
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