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baherus [9]
3 years ago
13

Karns Company purchased merchandise on account from Bailey Office Suppliers for $ 174.000, with terms of 2/10, n/30. During the

discount period, Karns returned some merchandise and paid S1S6.800 as payment in full. Karns uses a perpetual inventory system.
a. Prepare the journal entries that Karns Company made to record:
Business
1 answer:
zhannawk [14.2K]3 years ago
7 0

Answer:

Karns Company

Perpetual inventory system

1)  Merchandise Inventory   $174,000 Dr.

Account Payable  $ 174,000 Cr

Karns Company purchased merchandise on account from Bailey Office Suppliers for $ 174.000, with terms of 2/10, n/30

2) Account Payable $ 6,800 Dr.

Merchandise Inventory  $ 6,800 Cr.

Karns returned some merchandise and paid S1S6.800 as payment in full

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Media richness refers toa. a message's impact on the company's bottom lineb. how much a communication channel costs the company
Anit [1.1K]

Answer: c. the extent to which a channel represents all of the information available

Explanation:

Media richness is when a communication media is able to pass across a rich messages. We should note that the characteristics of richness has to do with the amount of feedback, language variety, and social cues, that is passed to a communicative partner.

Media richness has to do with the amount of information that is transmitted through a particular communications channel.

6 0
3 years ago
Spencer Inc. applies overhead to production at a predetermined rate of 80% based on direct labor cost. Job No. 130, the only job
Romashka [77]

Answer:

Direct material= $5,600

Explanation:

<u>First, we need to calculate the direct labor added to Work in Process:</u>

Direct labor= allocated overhead / predetermined overhead rate

Direct labor= 6,400 / 0.8

Direct labor= $8,000

<u>Now, by difference, the direct materials:</u>

Direct material= Ending balance - allocated overhead - direct labor

Direct material= 20,000 - 6,400 - 8,000

Direct material= $5,600

3 0
3 years ago
An insurance producer wishing to do business under any name other than their legal name must notify the Commissioner:
Fiesta28 [93]

Answer:

prior to using the <u>Assumed names</u>

Explanation:

An insurance producer must get himself or his organization registered before doing any business of insurance.

For this there are certain rules as related to the names of such business.

There is the requirement to follow the rules and regulations.

If some person does this business not in his name, and uses some other assumed name, that is any kind of "insurance" word is used for example, "Life Insurance Co." then the person is required to take a prior permission from the commissioner.

This is to ensure that the name shall not be registered with some other organization.

Thus, no assumed names to be used, before prior permission is received from the commissioner.

7 0
3 years ago
Charlotte's manager asks her to create a survey for the company, which will be sent to current customers. The survey includes ye
Rashid [163]

Answer:

"Quantitative " is the correct answer.

Explanation:

  • Quantitative approaches qualitative data analysis as well as observational, analytical, or predictive interpretation of the data obtained by interviews, queries, and surveys and then using processing methods to modify focuses on gathering numerical data.
  • It exposes students to the study broad targeted advertisements bodies as well as to manipulate this information in order to achieve intended outcomes.

Therefore the survey provided is a quantitative data collection tool.

8 0
4 years ago
Under NASAA Statements of Policy on Dishonest and Unethical Business Practices by Broker-Dealers and Agents, which of the follow
kap26 [50]

Answer:

B) II & IV

II. The Agent of the Broker-Dealer would be allowed to provide a potential customer with such a sales piece or summary if it does not omit any relevant information that the client would need to determine if they would like to buy the security.

IV. The Agent of the Broker-Dealer, when creating a summary or sales piece, is required to present a fair and balanced presentation of all material information from the prospectus.

Explanation:

Under North American Securities Administrators Association (NASAA) rules, when an agent or a broker-dealer creates a summary sheet or sales piece, it must include a fair and balanced presentation of all the important and relevant information that their client may need to be able to make a decision as to whether or not they want to purchase the security. Obviously the client trusts his/her agent, but the client must be given all the information necessary for him/her to decide whether the agent's advice should be followed or not.

5 0
3 years ago
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