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bonufazy [111]
3 years ago
5

Powell Company began the Year 2 accounting period with $20,000 cash, $60,400 inventory, $48,600 common stock, and $31,800 retain

ed earnings. During Year 2, Powell experienced the following events: Sold merchandise that cost $37,900 for $74,600 on account to Prentise Furniture Store. Delivered the goods to Prentise under terms FOB destination. Freight costs were $310 cash. Received returned goods from Prentise. The goods cost Powell $1,910 and were sold to Prentise for $3,880. Granted Prentise a $1,160 allowance for damaged goods that Prentise agreed to keep. Collected partial payment of $53,300 cash from accounts receivable. Required a. Record the events in general journal format.
Business
1 answer:
jekas [21]3 years ago
3 0

Answer:

Explanation:

1

Dr Accounts Receivable  74600                    

   Cr Sales Revenue   74600                  

Dr Cost of Goods Sold   37900                    

    Cr  Inventory     37900                  

2

Dr Freight Out  310                    

   Cr Cash     310                  

3

Dr Sales Revenue   3880                    

   Cr Accounts Receivable   3880

Dr Inventory    1910                    

 Cr Cost of Goods Sold    1910                  

4

Dr Sales Revenue   1160                    

   Cr Accounts Receivable    1160                  

5

Dr Cash   53300                    

   Cr Accounts Receivable A/c   53300                  

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Zinaida [17]
This is an example of mass selling through publicity.
The show may not have been that much popular before Tom Bowman wanted it gone, however, after he asked for its removal from the air, people were interested to see why that is so, which is why it gained many new followers instead of losing its old ones.
6 0
3 years ago
Why do consumer advocates advise against using alternative financial services?.
spayn [35]

Consumer advocates advise against using alternative financial services because of the high cost that's associated with the loans and other services.

<h3>What is a financial service?</h3>

It should be noted that a financial service simply means a wide range of activities such as banking, insurance and investing.

In this case, consumer advocates advise against using alternative financial services because of the high cost that's associated with the loans and other services.

Learn more about financial services on:

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7 0
2 years ago
An effective team would never have ______. a. multiple long term goals b. a series of coordinated deadlines c. unclear definitio
Effectus [21]

An effective team would never have Unclear definitions of goals.

Option C is correct answer.

Unclear definitions of goals :

Unclear goals are part of the communication problem that continues to plague many workplaces, and were also cited as the number one cause of stress for tech workers in an earlier Comparably study. Employees who don't know what's expected of them can't perform their best work.

What happens when goals are unclear?

A lack of direction and unclear goals are among the largest reasons why projects fail. While it may be impossible to predict every outcome, taking time early on to define and communicate objectives and goals can radically increase the chance your team successfully completes a project.

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4 0
1 year ago
Define the concept management from functional perspective and clearly explain each of its
Wewaii [24]

Answer:

Management refers to the ability or art of setting objectives, organizing, motivating the people resources, devising systems of measurement, and building human capacity towards the attainment of all organization objectives.

Explanation:

1. Defining Objectives: This flows down from the Founder and Chief Vision Officer. The objectives of an organization is the purpose for which an organization was set up. An example could be to give people living with a disability the opportunity to live inclusively, attaining their highest selves.

2. Organizing: When objectives are taken and put in form of goals, these goals are devolved through to management in the form of achievable tasks who then delegate them to staff. The process of ensuring that each staff know their tasks, who they are accountable to, and work together harmoniously is called Organising.

3. Motivating team: It is not enough to have human resources. It is critical that they be willing to work together, harmoniously and happily. This way, the company enjoys the highest performance possible.

4. Defining Performance Indicators

What is not measured can not be managed. Performance Indicators are systems of measurement that enable the organization to keep track of whether or not the goals are being met and in what measure they are.

5. Building Capacity

Organizations that build leaders the fastest are the ones that win. Building human capacity is the equivalent of upgrading machinery or opting for higher manufacturing technology in the industrial age. People are able to solve problems to the extend that they know how to. The more they know, the better and faster they are at solving such problems. Hence, increasing organizational competency and effectiveness.

Cheers

3 0
3 years ago
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liubo4ka [24]

Answer Explanation

An expression about whether financial statements conform with generally accepted accounting principles

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business that raises money by issuing shares of stock:

Corporation, raise fund from issuance of stock

The portion of stockholders’ equity that results from receiving cash from investors

Capital or total paid-in capital

Obligations to suppliers of goods

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Amounts due from customers

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A party to whom a business owes money

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Account Receivable or Note receivable accounts

A business that is owned jointly by two or more individuals but does not issue stock.

partnership are integrate by more than one party

8 0
3 years ago
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