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leva [86]
3 years ago
6

Able sells and delivers a piece of equipment to Smythe for​ $2,000 on August 1 and the equipment cost​ $1,300. The sale is a cre

dit sale. How is this transaction accounted for under a periodic system of​ inventory?
Business
1 answer:
guapka [62]3 years ago
7 0

Answer:

Debit entry - Accounts Receivables - $2,000

Credit entry - Sales - $2000

Explanation:

Due to the fact that it is a credit sale, it means that the cash would be obtained at a future date in time. Hence, until then, Mr Smythe is indebted to Able as he is a debtor. Once he pays what he owes to Able and the cash has been received, Accounts receivables would be credited with $2000 and cash would be debited with $2000.

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___________ encompasses all the activities required to get the right product into the right consumers hands in the right quantit
Verdich [7]

Answer:

The correct answer that fills the gap is: Supply Chain Management.

Explanation:

To complement the definition, supply chain management (SCM) tracks materials, information and finances during the process that goes from the supplier to the manufacturer, the wholesaler, the retailer, and the consumer. Supply chain management involves the coordination and integration of these flows, both within the same company and between different companies. It is said that the main objective of any effective supply chain management system is the reduction of inventories (assuming that the products are available when necessary). To offer optimal supply chain management solutions, there are currently sophisticated software systems with Web interfaces competing with Web-based application service providers (ASP) that are committed to providing part or all of the SCM service to Companies that hire their services.

------

NOTE: If you need to extend the explanation given, you can make a comment or add a new question. I will be very pleased to help you.

6 0
3 years ago
Outline one advantage and one disadvantage of investing in training....
nexus9112 [7]

One advantage of training is that it can enhance employees' skillset within the organisation overall. A disadvantage is that training can be costly especially if employees leave taking their skills elsewhere.

7 0
3 years ago
What would be another example of a ""system"" in the real world that could serve as a metaphor for micro and macroeconomics?
kicyunya [14]

Answer:

The solar system can be a metaphor for micro and macroeconomics in the real world.

Explanation:

There are several physical systems in the real world that can act as a metaphor for micro and macroeconomics. The solar system, for instance, can perfectly serve as a metaphor for micro and macroeconomics. The study of a single planet in the solar system can be microeconomics or the study of the solar system in the galaxy is macroeconomics. While the study of the galaxy as a whole will be macroeconomics.

8 0
4 years ago
The statement that stock prices follow a random walk implies that: Select one: a. Successive price changes are independent of ea
Marina CMI [18]

Answer:

(A) Successive price changes are independent of each other

Explanation:

Random walk theory claims that past information and trends cannot be used to predict future price movement of the stocks since as per the theory, stock price movements are unpredictable and walk(move) randomly.

The theory further suggests that stock prices have same distribution and are independent of one another. It means there is no correlation between price movements of two different stocks.

Thus, Stock prices follow a random walk implies that successive price changes are independent of each other.

6 0
3 years ago
During an​ accident, when the​ vehicle's airbag​ deploys, it can cause injuries to​ the
Flura [38]
Heya

the ans is to the passengers or the person who was driving.

thank u
5 0
3 years ago
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