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4 years ago

Hahn Flooring Company uses a perpetual inventory system. Journalize the December 31 adjusting entries based upon the following:

Business

1 answer:

harina [27]4 years ago

4 0

Answer:

Date Accounts titles Debit Credit

Dec. 31 Sales returns and allowances $125,000

Accounts receivable $125,000

Merchandise Inventory $80,000

Cost of Good sold $80,000

Dec. 31 Cost of Good sold $23,250

Merchandise Inventory $23,250

Note: Inventory Shrinkage = Account balance of inventory - Physical inventory on hand

= $1,333,150 - $1,309,900

= $23,250

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The Stationery Company purchased merchandise on account from a supplier for $9,100, terms 2/10, n/30. The Stationery Company ret

yaroslaw [1]

Answer:

$7,840

Explanation:

The terms 2/10, n/30 means that if the amount is paid in maximum 10 days, the client will receive a 2% discount. If he/she doesn't make the payment in this period, the total amount has to be paid within 30 days.

As Stationary Company returned merchandise with an invoice amount of $1,100, you have to subtract this amount from the initial value of the merchandise they purchased:

$9,100-$1,100= $8,000

Then, you have to calculate the 2% discount they will get from the $8,000 for paying the invoice within the discount period:

$8,000*2%= $160

$8,000-$160= $7,840

According to this, the answer is that the amount of cash required for the payment is $7,840.

7 0

4 years ago

Click this link to view O*NET's Work Context section for Foresters.

sashaice [31]

Answer: 2 3 5 7

Explanation:

This is the answer that i got

6 0

3 years ago

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) A T-bill quote sheet h

VashaNatasha [74]

Answer:

1) B

2) A

3) D

Explanation:

1) Discount yield(%) = Face value - Purchase value/Face value X 360/Maturity ( in days) X 100%

Discount yield (quote) = 5.11; Face value = $10,000; Let Purchase value = x; Maturity = 90 days

(5.11)% = $(10,000 - x)/$10,000 X 360/90 X 100%

5.11 = 400(10,000 - x)/10,000

x = 4,000,000 - 51100/400 = 3,948,900 = $9,872.25

3) Face value = $10,000; Purchase value = $9,850; Maturity = 120 days

Investor's bond equivalent yield(%) = $(10,000 - 9,850)10,000 X 360/120 X 100%

= 45/10 = 4.5%

4 0

3 years ago

E24-26 Determining transfer pricing The Watkins Company is decentralized, and divisions are considered investment centers. Watki

Stells [14]

Answer:

Part 1.

The negotiable range for the transfer price is between is $6 to $18 as the Netting division will incur loss if it sells its product below its variable cost whereas the maximum price it can transfer the product to Basketball equipment department is equal to the selling price that is $18.

Therefore, negotiable range is between for the transfer price is $6 to $18.

Part 2.

The minimum transfer price the Netting division should consider if at operating capacity is $18.

If they are at below capacity, the minimum transfer price would be $6.

Part 3.

The maximum transfer price the basketball equipment division should consider must be equal to the price outside vendors are charging for the same quality product that is $15.

Therefore, the maximum transfer price the Basketball Equipment Division should consider is $15.

6 0

3 years ago

The marketing concept is a philosophy that focuses on A. Advertising products B. Selling products C. Making good products D. Pro

Pie

Answer:

D. Providing value to customers

Explanation:

The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition. Today most firms have adopted the marketing concept, but this has not always been the case.

Hope this was helpful, have a Wonderful Day!!

4 0

3 years ago