Answer:
$2,027.45
Explanation:
Some companies trade on credit instead of cash. These companies allow their customers to pay later for purchases made today. These firms also provide a benefit to their customers with credit terms to pay earlier than the deadline and get discount on the actual invoice price.
In the given scenario, Purple Turtle Group has purchase goods and received an invoice of $2,100.98 with credit terms of 3.5/15, net 60. This means that the payment is due to be paid in next 60 days with a 3.5% discount if the payment is made within next 15 days. The actual invoice price will be then,
$2,100.98 * (100% - 3.5%) = $2,027.45
Answer: See explanation
Explanation:
Economics is referred to as a social science that is concerned with how goods are produced, how they're distributed and how they're consumed. Economics is the social science that studies why human beings behave the way that they do.
It is difficult to consider Economics as a science because it lacks a hypotheses that's testable. Also, there is lack of consensus and the scientific method is not followed in Economics.
Had to look for the rest of the details and here is my answer.
Based on the given table of data attached to this question, the best estimate for Korey to quote as expected profits in the next year for his business plan next year would be <span>$19,386.97. Here is the given information of his net year profits.
</span>Year
Net Profits
1: $14,250.00
2 : $15,390.00
3 : $16,621.20
4 : $17,950.90
<span>5 : ?
</span>
Hope this answer helps.
Answer:
The answer is:
Debit the Merchandise Inventory account
Credit the cash account.
Explanation:
To start with, increase in assets and expenses go into debit side while decrease in assets and expenses go into credit side.
Merchandise inventory is an asset and cash too is an asset. Toys R Fun purchased inventory with cash, this means merchandise inventory increases while cash decreases.
According to the rule in the first paragraph, the recording is as follows:
Dr Merchandise Inventory $4,000
Cr cash. $4,000
Definition:
Contributions that bring benefits over and above those directly associated with the core business activities and events. These contributions can include monetary, employee time, employee resources, and gifts of any kind.