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Delvig [45]
2 years ago
12

Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual i

nventory system. During September, these transactions occurred.
Sept. 6 Purchased calculators from Carla Vista Co. at a total cost of $1,800, terms n/30.
9 Paid freight of $50 on calculators purchased from Carla Vista Co.
10 Returned calculators to Carla Vista Co. for $51 credit because they did not meet specifications.
12 Sold calculators costing $460 for $670 to Fryer Book Store, terms n/30.
14 Granted credit of $40 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $28.
20 Sold calculators costing $560 for $780 to Heasley Card Shop, terms n/30.

Prepare the journal entriy for the Office Depot.
Business
1 answer:
fgiga [73]2 years ago
8 0

Answer and Explanation:

The Journal entry is shown below:-

1. Inventory Dr, $1,800

       To accounts payable $1,800

(Being purchase of calculators on account is recorded)

2. Inventory Dr, $50

     To cash $50

(Being inventory is recorded)

3. Accounts payable Dr, $51

     To inventory $51

(Being return of calculators is recorded)

4. Accounts Receivable $670

     To Sales revenue $670

(Being sales revenue is recorded)

5. Cost of Goods Sold Dr, $460

     To Inventory $$460

(Being cost of goods sold is recorded)

6. Sales returns Dr, $40

     To Accounts receivable $40

(Being goods returned by customer is recorded)

7.  Inventory Dr, $28

     To Cost of Goods Sold $28

(Being cost of goods sold returned is recorded)

8. Cost of Goods Sold Dr, $780

      To Sales revenue $780

(Being cost of goods sold is recorded)

9. Cost of Goods Sold Dr, $560

      To inventory $560

(Being cost of goods sold is recorded)

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Which of the following reasons can make a diversification strategy an unwise course of action for a company to pursue? Group of
Alex777 [14]

Answer:

Diversification for pooling risks

Explanation:

When a company wants to diversify it goes into various products in order to reach a larger market. This is the opposite of specialisation where the company focuses on one market or product.

When a company wants to diversify it will not be a good idea to do it because they want to pool risk.

Pooling of risk involves centralisation of process so that risk due to variability will be reduced.

Diversifying will increase risk due to variability.

8 0
3 years ago
In the year 2020, a divorced woman under age 50 collects $50,000 of alimony and child support as her sole source of income. The
NikAS [45]

The available options are:

A. No contribution can be made because the woman does not have earned income

B. A contribution of up to $6,000 is permitted, but the contribution is not tax deductible.

C. A tax deductible contribution of up to $7,000 is permitted

D. A tax deductible contribution of up to $9,000 is permitted

Answer:

No contribution can be made because the woman does not have earned income

Explanation:

Unlike in the previous years before 2019, concerning divorce agreements, alimony is now declared to be no longer deductible by the payor and at the same time is considered to be a tax-free income to the recipient. In essence, this indicates that alimony is no longer qualifies as earned income and therefore, cannot be utilized to fund an Individual Retirement Account.

Hence, in this case, since it is , year 2020, the correct answer is "No contribution can be made because the woman does not have earned income."

8 0
2 years ago
You are trying to convince a group of volunteers to show up at the library for their scheduled hours of work. Unfortunately, peo
Schach [20]

it was punishment for them

3 0
3 years ago
The Dahle Manufacturing Company has two production departments (Assembly and Finishing) and two service departments (Human Resou
ikadub [295]

Answer:

$54,000

Explanation:

Calculation to determine what the amount of Human Resources cost allocated to the Assembly Department is:

Using this formula

Human Resources cost allocated to the Assembly Department=Human Resources budgeted costs* Human resource percentage

Let plug in the formula

Human Resources cost allocated to the Assembly Department=$90,000 x 60%

Human Resources cost allocated to the Assembly Department = $54,000

Therefore Using the step-down method and assuming the Human Resources Department is allocated first, the amount of Human Resources cost allocated to the Assembly Department is:$54,000

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2 years ago
A student who just graduated from college but has not found a job would most likely be:.
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Living in his/hers mom’s basement because he can’t make money.
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