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saw5 [17]
3 years ago
9

Assume the perpetual inventory method is used. The company purchased $12,300 of merchandise on account under terms 4/10, n/30. T

he company returned $1,800 of merchandise to the supplier before payment was made. The liability was paid within the discount period. All of the merchandise purchased was sold for $18,600 cash. What effect will the return of merchandise to the supplier have on the accounting equation
Business
1 answer:
iragen [17]3 years ago
4 0

Answer:

The Assets and liabilities will be reduced by $1,800

Explanation:

The effect that the return of merchandise to the supplier we have is that The Assets and liabilities will be reduced by $1,800. This means that the purchase return will decrease assets of the merchandise inventory and decrease liabilities of accounts payable by the amount of $1,800, and the full amount of the invoiced merchandise will be returned.

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Daniels Corporation uses the step-down method to allocate service department costs to operating departments.
larisa86 [58]

Answer:

C 503,980 dollars

Explanation:

\left[\begin{array}{ccccc}&General&Physical&Sales&After-sales\\$General&&2,000&27,000&14,000\\$Physical&1,000&&38,000&7,000\\$Direct \: Cost&36,550&70,300&412,500&480,880\\$Allocate G&-36,550&1,700&22,950&11,900\\$Subtotal&0&72,000&435,450&492,780\\$Allocate P&0&-72000&60,800&11,200\\$Total&&&496,250&503,980\\\end{array}\right]

We determinate each service deparment rate:

general: 36,550 / (2,000 + 27,000 + 14,000) = 0.85

we then assign cost of general department and repeat the process for physical

then for physical we do the same:

72,000 / (38,000 + 7.000) = 1.60

5 0
3 years ago
Is working at hobby lobby as a cashier hard
mojhsa [17]
Working at Hobby Lobby is like working at any other retail store. People ask where things are, you'll probably have to clean once in a awhile but it's fun and looks great on resumes for the future. Also, if you do work there, you probably won't be doing just the register.
6 0
3 years ago
As Malta got ready for its admittance into the European Union (EU), the EU removed all taxes on the importation of goods manufac
77julia77 [94]

Answer and Explanation:

d. tariffs

5 0
3 years ago
Read 2 more answers
Judy served as director of marketing for a Florida homebuilder. She was terminated within an initial 90-day assessment review pe
algol13

Answer and Explanation:

a.

According to the United States law that governs whistle blower protection, the whistle blowers could be protected from expected retaliation that can be from a team or an individual for company violation in terms of laws, rules, etc

Also it protects the permanent employees and the workers who work on temporary basis that report the major mistakes

So here the Judy would be eligible for the whistleblower protection

b.

The factors that need to be considered are as follows;

1. The actions that breaks the rules of the company

2. The reason of firing Jude after getting the offer of new employment

3. The action i.e. subduing due to which Jude become speechless in the exit interview

Only these three factors are need to be considered

6 0
2 years ago
Bonds Payable has a balance of $928,000 and Discount on Bonds Payable has a balance of $11,136. If the issuing corporation redee
Setler [38]

Answer:

c.$7,424 gain

Explanation:

Book value of bonds payable:    

Par value of bonds payable                      $928,000  

Less: Discount on bonds payable              $11,136  

Book value of bondds payable               $916864  

Redemption value of bonds ($928,000*98%)   $909440  

Gain on Redemption of bonds                 $7424

Therefore, The amount of gain or loss on redemption is $7424.

5 0
3 years ago
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