All categories

3 years ago

Journalize the following sales transactions for Salem Sportswear. Explanations are not required.

Business

1 answer:

elixir [45]3 years ago

8 0

Answer:

Aug. 1

Trade Receivable $69,000 (debit)

Cost of Sales $38,000 (debit)

Sales Revenue $69,000 (credit)

Inventory $38,000 (credit)

Aug 5

Sales Revenue $3,500 (debit)

Inventory $1 ,750 (debit)

Trade Receivable $3,500 (credit)

Cost of Sales $1 ,750 (credit)

Aug 10

Cash $63,535 (debit)

Discount allowed $1,965 (credit)

Trade receivable $65,500 (credit)

Explanation:

Aug 1

Recognize the Cost of Sale and the Assets of Trade Receivables.

Aug 5

De-recognize the Cost of Sales and Assets of Trade receivables to the extent of the goods that were returned.

Aug 10

Recognize the Cash Asset received less the cash discount of 3 % and also recognize the discount allowed expense to the amount of discount allowed.

You might be interested in

"Stock R has a beta of 1.5, Stock S has a beta of 0.75, the required return on an average stock is 10%, and the risk-free rate o

Kaylis [27]

Answer:

4.5%

Explanation:

Stock R (Beta) = 1.5

Stock S (Beta) = 0.75

Expected rate of return on an average stock (Rm)= 10%

Risk free rate (Rf) = 4%

Required Return (Re) = Rf +(Rm-Rf) B

Required Return = 0.04 + (0.10-0.04) B

Required Return = 0.04 + 0.06B

Stock R = 0.04 + (0.06 * 1.50)

Stock R = 0.04 + 0.09

Stock R = 0.13

Stock R = 13%

Stock S = 0.04 + (0.06 * 0.75)

Stock S = 0.04 + 0.045

Stock S = 0.085

Stock S = 8.5%

Here, the more risky stock is R and less risky stock is S. Since, R has more beta than the Stock S.

= 13% - 8.5%

= 4.5%

7 0

3 years ago

Cost-benefit analysis attempts to A. compare the real worth, rather than the market values, of various goods and services. B. co

statuscvo [17]

Answer:

Letter D is correct. Compare the benefits and costs associated with any economic project or activity.

Explanation:

A cost-benefit analysis is a business approach used to ascertain the main strengths and weaknesses of an organization as a whole. This includes the process of all organizational activities, transactions, and other substantial requirements for the company. The purpose of this approach is to compare the benefits and costs associated with the organization's activities and find ways to reduce costs, time and maximize earnings.

8 0

3 years ago

Part II: Article II, Section I of the U.S. Constitution provides that the president must "take care that the laws be faithfully

xz_007 [3.2K]

Answer: Yes it is.

Explanation:

The Constitution puts the President at the head of the Executive branch of government and provides that the President should ensure that the laws of the land are faithfully executed.

Seeing as executive orders are issued to members of the executive - which are under the President - and are done to ensure that the laws of the land are carried out, the President is not only following the Constitution's directives in Article II, Section I of the Constitution but doing it within their power as head of the executive.

Executive orders are therefore an implied constitutional power that the President has.

4 0

2 years ago

If labor cost are 55,000 dollers for concession staff, 82,500 dollers for security and 45.000 for parking lot operations and 49,

Pani-rosa [81]

Answer:

43%

explanation:

add them all up for x. then add the concession and parking lot costs for y. finally divide y/x.

Explanation:

7 0

3 years ago

This a type of unemployment that always exists and are relatively stable over time, including seasonal, structural, and friction

Darya [45]

Answer: Natural unemployment

Explanation:

Natural unemployment always exists even in a healthy economy this is because the people keep changing their jobs and they even leave the current job in search of the new ones. Natural unemployment also includes other types of unemployment such as seasonal, structural and frictional unemployment types.

Also some people might possess skills that are not necessary in the labor market. The natural unemployment is still in the economy even when there is technological advancement, industry expansion. New labor forces enter into market every year and people search jobs for better opportunities.

6 0

3 years ago

Read 2 more answers