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Mekhanik [1.2K]
3 years ago
5

A company had the following partial list of account balances at year-endWhich of the following statements correctly describes th

e effect of recording the collection of a $10,000 account receivable for which a 2% sales discount was recorded at the time of collection?
Business
1 answer:
Jlenok [28]3 years ago
3 0
The $200 sales discount ($10,000 × 2%) reduces net sales and therefore gross profit.

Gross profit will decrease $200
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Juniper Company, Inc. uses a perpetual inventory system. The company purchased $9,750 of merchandise on August 7 with terms 1/10
Ilia_Sergeevich [38]

Answer and Explanation:

The journal entry is shown below:

Accounts payable $1,500  

          To Merchandise Inventory  $1,500

(being purchase returns is recorded)  

here account payable is debited as it decreased the liabilities and credited the merchandise inventory as it decreased the assets

7 0
3 years ago
New e-commerce businesses, including companies like eBay, focus on voluntary exchange. Which generalization BEST describes this
Afina-wow [57]

I believe the answer is: D. Decentralized decision-making results in buyers and sellers really engaging in  commerce

Decentralized decision making refers to a decision making process which started from the group or individuals in high authority and distributed to the rest of the group. The decision that is made with this process tend to be made in order to address the demand of the buyers.

4 0
3 years ago
Read 2 more answers
in a printing job, the cost of producing a thousand brochures was GH3500.The publisher decided to sell these brochures at 125% g
aksik [14]

1000 Brochures making cost = GH3500

Profit = 125%

= 125/100×3500

= 4375

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8 0
3 years ago
On January 2, 2020, Howdy Doody Corporation purchased 12% of Ranger Corporation's common stock for $50,000. Ranger's net income
Andrei [34K]

Answer:

The Total amount shown in income statement as income from this investment is $ 27,200.00

Explanation:

In order to calculate the effect of this investment on the 2021 income statement we would have to make the following calculation:

effect of this investment on the 2021 income statement= Dividend received by Howdy Doody corporation+Increase in Fair value of Stock credited to income statement

Dividend received by Howdy Doody corporation=$60,000 x 12%= $7,200.00

Increase in Fair value of Stock credited to income statement=$70,000-$50,000=$ 20,000.00

Therefore, effect of this investment on the 2021 income statement= $7,200.00 +$ 20,000.00 =$27,200

The Total amount shown in income statement as income from this investment is $ 27,200.00

3 0
3 years ago
Approximately how many Americans does Toyota employ in the manufacture, research, financing, marketing, and sales of its vehicle
uysha [10]

Answer:

Approximately 135,900 Americans

Explanation:

Toyota has approximately 135,900 Americans as employees.

6 0
3 years ago
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