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expeople1 [14]
3 years ago
7

On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 1/10, n/30. Flores uses

the gross method of accounting for cash discounts. What is the correct entry for Flores on November 10
Business
1 answer:
Rasek [7]3 years ago
8 0

Answer:

Nov 10,

DR Accounts Receivable .........................$8,000

CR Sales ......................................................................$8,000

(To record credit sale)

Explanation:

On the day that Flores Mills sold the carpet, they are to record this as a credit sales as cash was not paid. The correct entry would be to debit Accounts receivable and credit Sales.

The discount will only be applied if/when the customer settles the account.

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7. List and explain 3 things that make you enthusiastic about learning?
Reptile [31]

Answer:

1) Reward

2) Enjoyment

3) Personality Growth

Explanation:

<u>Learning Business</u>

I opted for Business because it is very easy as compared to other subjects.

It is applicable anywhere anytime.

It is rewarding in terms of  rules and regulations.

<u>Otherwise Learning</u>

It enhances your abilities making you a strong enough person to fight any challenge.

It is always rewarding. It pays you one way or other.

It polishes and nourishes your personality to an extent where you feel better adapted towards life.

It is an enjoyment in the sense that it makes you see how well you use your abilities. For example I like mathematics and I enjoy doing it. Some people like drawing and they enjoy it.

4 0
3 years ago
The police need to have _____ to obtain a search warrant.
solniwko [45]

Answer:

a

Explanation:

they need a absolute certainty to search your house like what

7 0
3 years ago
"Uterine family" is the phrase Margery Wolf uses to describe the family a woman makes by having children though they are not off
AlekseyPX

Answer:

a. True

Explanation:

The uterine family represents the individual mother and mother children. in other way, it is you, your mother, your siblings, etc

The Uterine family implies the family description that shows the women have the children but they are not officially recorded as a members of the similar lineage

Therefore the given statement is true

3 0
3 years ago
NoGrowth Industries presently pays an annual dividend of $ 1.90 per share and it is expected that these dividend payments will c
dybincka [34]

Answer:

$17.27

Explanation:

The stock intrinsic value is calculated using dividend discounted model (DDM). The DDM is stated as below:

Stock intrinsic value = [This year dividend x (1 + Dividend growth)]/[Equity cost of capital - Dividend growth]

                                  = [1.9 x (1 + 0%)]/[11% - 0%] = $17.27

So vlaue of NoGrowth's stock is estimated at $17.27

5 0
3 years ago
Michelle operates a food truck. Indicate the amount (if any) that she can deduct as an ordinary and necessary business deduction
Snezhnost [94]

Answer:

A. $80

B. $795

C. $0

Explanation:

Only expenses that can be directly attributed to the business are deductible.

Personal expenses will not be deductible.

A. Here the only deductible amount is the legal fees of $80. The speeding will not be charged to the business because it was as a result of personal negligence. The legal fees affect the business because the speeding related to a business asset.

B. Only the amount paid to reserve a spot will be deductible because it relates to expenses for the business to make profit. The money she spent on her children is a personal expense.

C. There is no deductible here. These activities were of a personal nature and in no way related to the operations of the business of operating the food truck.

6 0
3 years ago
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