The federal reserve bank can be thought of as the bank for almost all other banks that work directly with the public?

Merchandise was returned to a supplier. The goods were previously purchased on account. The goods had not been paid for and ther

irina [24]

Answer:

Debit Accounts Payable, and Credit Purchase Returns and Allowances

Explanation:

The adjusting entry is shown below:

Account Payable A/c Dr

To Purchase Returns and Allowances

(Being return of goods is recorded)

Since the goods are purchased on credit, and due to some issues the goods are returned So, the account payable account should be debited and the purchase return and allowances should be credited.

5 0

3 years ago

select 3 goals or objectives that a leadership plan might include to achieve a solid business strategy.

Nezavi [6.7K]

In order to achieve solid business strategy in the leadership plan, the three goals the leadership plan includes are attracting new customers, increasing revenue, and decreasing cost price.

The three main goals in order to achieve solid business strategy in the leadership plan are targeting and attracting new customers, decreasing the cost price of goods or services being offered, and increasing the revenue.

The detail of these goals is given below:

Attracting new customers is considered an important leadership goal as it increases market share and promotes competition with other brands. New customers are important in terms of sales. It is needed for a business to grow.
Increasing revenue It is considered an important leadership goal because the basic purpose of every business is to earn profit. More growth means more profit. If an organization will be able to increase its revenue it will be able to maximize its profit.
Decreasing cost price It is considered an important leadership objective because if the sale remains same then the company will earn more profit. The cost is linked directly with profitability. More profit means more growth of the company.

Therefore attracting new customers, increasing sales of product and services offered and decreasing cost are considered three goals that a leadership plan must include to achieve business strategy.

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3 0

1 year ago

Abbott Company purchased $7,100 of merchandise inventory on account. Abbott uses the perpetual inventory method. How does this t

yaroslaw [1]

The answer is b I hope this helps

6 0

2 years ago

Ruby Company produces a chair that requires 5 yards of material per unit. The standard price of one yard of material is $9.10. D

Marrrta [24]

The price variance for Ruby company is at an unfavorable position that is $19,415, the quantity variance stands at $6,370 (favorable condition) and the cost variance has unfavorable balance that is equal to $13,045.

<h3>What is a variance?</h3>

A variance in accounting is the distinction between a forecasted quantity and the real quantity. Variances are common in budgeting, however, you may have a variance in something which you forecast.

As per the information, we have to calculate:

a) Price variance: (Standard Price - Actual price) * Actual Quantity

Price variance: ($9.10 - $9.65) * 35,300

Price variance: $0.55 * 35,300

Price variance: $19,415 Unfavorable.

b) Quantity variance = (Standard Quantity - Actual Quantity) * Standard Price

Quantity variance = (7,200 * 5 - 35,300) * $9.10

Quantity variance = (36,000 - 35,300) * $9.10

Quantity variance = $6,370 Favorable.

C) Cost variance = $19,415 Unfavorable + $6,370 Favorable

Cost variance = $13,045 U

Hence, The price variance for Ruby company is at an unfavorable position that is $19,415, the quantity variance stands at $6,370 (favorable condition) and the cost variance has an unfavorable balance that is equal to $13,045.

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5 0

2 years ago

Do you think scientific management made business more successful

Sati [7]

<span>Scientific management has evidently made business operations and efficiencies far more successful in their strategies and processes, due to the ability to quantify specific data sets and analyze this information to understand how best to implement a more effective and growing strategy.</span>

5 0

3 years ago

Read 2 more answers