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3 years ago

Which of the following would not be used to pay for previous credit purchases under the periodic system?

Business

2 answers:

fenix001 [56]3 years ago

5 0

Answer:

Debit to Accounts payable ( A )

Explanation:

To pay for previous credit purchases made by a company it can be made by crediting the Accounts payable of the company or by converting the credit to cash payments to the company from whom the company purchased the goods.

Accounts payable is a liability account operated by a company to take care of all the credit purchase made by the company. crediting this account by the company will help offset previous credit purchases while debiting this accounts will leading to worsening the debit conditions of the company towards its suppliers hence this is a means of paying for previous credit purchases

Cerrena [4.2K]3 years ago

4 0

C. Credit to Accounts Payable

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You have an insurance policy with a $300 premium and a $500 deductible. How much should you expect to pay the insurance company

Aleksandr [31]

<h3>Hello there!</h3>

Your question asks how much you would be paying for insurance with the information given.

<h3>Answer: $300</h3>

The reason why your answer would be $300 is because that's the premium that you would be paying for. The "premium" means the amount you're paying for coverage. The premium could have different coverages that make up the price. The insurance would cover the liabilities that you might have.

People tend to get confused with deductibles. You don't pay monthly for deductibles. Deductibles are a payment that someone needs to pay before an insurance company starts paying for your needs that your coverage provides. For example, if I brake a bone, I would first pay the $500 deductible before the Insurance company starts covering my costs. This is the ensure that the insurance company gets some type of money before they start helping you.

<h3>I hope this helped you out!</h3>

8 0

3 years ago

Is it surprising to you that a relatively small company like Sunny Delight could end up with so many different analytics tools?

shusha [124]

Answer:

See attached file

Explanation:

4 0

3 years ago

For each of the following, compute the future value (Do not round intermediate calculations and round your final answers to 2 de

snow_lady [41]

Explanation:

The computation of the future value is shown below:

As we know that

Future value = Present value × (1 + interest rate)^number of years

In the first case,

Future value = $2,050 × (1 + 0.12)^12

= $2,050 × 3.895975993

= $7,986.75

In the second case,

Future value = $8,352 × (1 + 0.10)^6

= $8,352 × 1.771561

= $14,796.08

In the third case,

Future value = $72,355× (1 + 0.11)^13

= $72,355 × 3.883280163

= $280,974.74

In the fourth case,

Future value = $179,796 × (1 + 0.07)^7

= $179,796 × 1.605781476

= $288,713.09

4 0

3 years ago

The standard cost of product 777 includes 2.9 units of direct materials at $6.8 per unit. During August, the company bought 29,2

Olegator [25]

Answer:

Total Material Variance = $1,636 Favorable

Material Price Variance = $2,920 Unfavorable

Material Quantity Variance = $4,556 Favorable

Explanation:

Total Material Variance = Standard Cost - Actual Cost

Standard Cost = Standard units $\times$ Standard Price

Standard Units = 10,300 $\times$ 2.9 = 29,870 units

Standard cost = 29,870 $\times$ $6.8 = $203,116

Actual Cost = 29,200 $\times$ $6.90 = $201,480

Total Material Variance = $203,116 - $201,480 = $1,636 Favorable

Material Price Variance = (Standard Rate - Actual Rate) $\times$ Actual Units

= ($6.8 - $6.9) $\times$ 29,200 = - $2,920 Unfavorable

Material Quantity Variance = ( Standard Units - Actual Units) $\times$ Standard Price

= (29,870 - 29,200) $\times$ $6.8

= $4,556 Favorable

Final Answer

Total Material Variance = $1,636 Favorable

Material Price Variance = $2,920 Unfavorable

Material Quantity Variance = $4,556 Favorable

8 0

3 years ago

Liabilities are defined as: a) Resources owed by an entity as a result of past transactions. b) Resources owned by an entity as

Alborosie

Answer:

Option A

Explanation:

In simple words, A liability refers to an agreement among one entity and another which has not yet been fulfilled or accounted for. A liability is anything that a individual or firm owes due to any past transaction, typically a amount of money. Over period, liabilities become settled by shifting economic advantages involving property, products or services.

5 0

2 years ago