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3 years ago

Consumers who agree to a "no interest” installment plan should be aware of

2 answers:

8 0

Consumers who agree to no interest financing should pay attention to the terms outlined in the paperwork. Many of these loans stipulate that if you are late on a payment, you will then pay a high interest rate, retroactive to the beginning of the loan.

You need to know what you are getting in to.

bekas [8.4K]3 years ago

6 0

The answer is B. The terms outlined in paperwork

Explanation:

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If you waited until late in life to start saving, what two things should you try to do?

klemol [59]

Get a job and save money now

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4 years ago

Read 2 more answers

Inflows or other enhancements of assets or settlements of an entity's liabilities from delivering or producing goods, rendering

VladimirAG [237]

Answer:

REVENUES

Explanation:

Revenue, often referred to as sales, is the income received from normal business operations and includes discounts and deductions for returned merchandise. It is the top line or gross income on a company's income statement from which all charges, costs, and expenses are subtracted to arrive at net income.

4 0

3 years ago

Sep. 3 Purchased merchandise inventory on account from Shallin Wholesalers, $7,000. Terms 1/15, n/EOM, FOB shipping point.

myrzilka [38]

Answer:

Sep. 3

Dr Merchandise Inventory $7,000

Cr Accounts Payable—Shallin Wholesalers $7,000

Sep. 4

Dr Merchandise Inventory $55

Cr Cash $55

Sep. 4

Dr Merchandise Inventory $2,100

Cr Cash $2,100

Sep. 6

Dr Accounts Payable—Shallin Wholesalers $1,000

Cr Inventory $1,000

Sep. 8

Dr Accounts Receivable— Herenda Company $5,445

Cr Sales Revenue $5,445

Sep. 8

Dr Cost of Goods Sold $2,255

Cr Merchandise Inventory $2,255

Sep. 9

Dr Merchandise Inventory $10,000

Cr Accounts Payable—Tripp Wholesalers $10,000

Sep. 10

Dr Accounts Payable—Shallin Wholesalers $6,000

Cr Merchandise Inventory $60

Cr Cash $5,940

Sep. 12

Dr Cash $5,445

Accounts Receivable—Herenda Company $5,445

Sep. 13

Dr Accounts Payable—Tristan Wholesalers $100

Cr Merchandise Inventory $100

Sep. 15

Dr Accounts Receivable—Jesper Company $3,500

Cr Sales Revenue $3,500

Sep. 15

Dr Cost of Goods Sold $1,610

Cr Merchandise Inventory $1,610

Sep. 22

Dr Accounts Payable—Tristan Wholesalers $9,900

Cr Cash $9,900

Sep. 23

Dr Refunds Payable $800

Cr Accounts Receivable—Jesper Company $800

Sep. 23

Dr Merchandise Inventory $368

Cr Estimated Returns Inventory $368

Sep. 25

Dr Accounts Receivable—Smithson $1,995

Cr Sales Revenue $1,940

Cr Cash $55

Sep. 25

Dr Cost of Goods Sold $780

Cr Merchandise Inventory $780

Sep. 29

Dr Cash $1,995

Cr Accounts Receivable— Smithson $1,995

Sep. 30

Dr Cash $2,100

Cr Accounts Receivable—Jesper Company $2,100

Explanation:

Preparation of the journal entries

Sep. 3

Dr Merchandise Inventory $7,000

Cr Accounts Payable—Shallin Wholesalers $7,000

Sep. 4

Dr Merchandise Inventory $55

Cr Cash $55

Sep. 4

Dr Merchandise Inventory $2,100

Cr Cash $2,100

Sep. 6

Dr Accounts Payable—Shallin Wholesalers $1,000

Cr Inventory $1,000

Sep. 8

Dr Accounts Receivable— Herenda Company $5,445

Cr Sales Revenue $5,445

[$5,500-(1%*$5,500)]

Sep. 8

Dr Cost of Goods Sold $2,255

Cr Merchandise Inventory $2,255

Sep. 9

Dr Merchandise Inventory $10,000

Cr Accounts Payable—Tripp Wholesalers $10,000

Sep. 10

Dr Accounts Payable—Shallin Wholesalers $6,000

($7,000-$1,000)

Cr Merchandise Inventory $60

(1%*$6,000)

Cr Cash $5,940

($6,000-$60)

Sep. 12

Dr Cash $5,445

[$5,500-(1%*$5,500)]

Accounts Receivable—Herenda Company $5,445

Sep. 13

Dr Accounts Payable—Tristan Wholesalers $100

Cr Merchandise Inventory $100

Sep. 15

Dr Accounts Receivable—Jesper Company $3,500

Cr Sales Revenue $3,500

Sep. 15

Dr Cost of Goods Sold $1,610

Cr Merchandise Inventory $1,610

Sep. 22

Dr Accounts Payable—Tristan Wholesalers $9,900

Cr Cash $9,900

($10,000-$100)

Sep. 23

Dr Refunds Payable $800

Cr Accounts Receivable—Jesper Company $800

Sep. 23

Dr Merchandise Inventory $368

Cr Estimated Returns Inventory $368

Sep. 25

Dr Accounts Receivable—Smithson $1,995

($1,940+$55)

Cr Sales Revenue $1,940

[$2,000-(3%*$2,000)]

Cr Cash $55

Sep. 25

Dr Cost of Goods Sold $780

Cr Merchandise Inventory $780

Sep. 29

Dr Cash $1,995

($1,940+$55)

Cr Accounts Receivable— Smithson $1,995

Sep. 30

Dr Cash $2,100

Cr Accounts Receivable—Jesper Company $2,100

5 0

3 years ago

During its first year of operations, Silverman Company paid $12,385 for direct materials and $10,600 for production workers' wag

Bingel [31]

Answer:

Finished goods inventory final balance= 12, 495

Explanation:

PRODUCTION COST COMPONENTS

Direct materials 12,385
Direct work 10,600
Lease and utilities 9,600

TOTAL PRODUCTION COST = 32,585

TOTAL UNITS PRODUCED = 6,650

UNIT COST= (Total Production Cost / Total Units Produced) = 32,585 / 6,650 = 4.9

FINAL GOODS INVENTORY = (Total Units Produced – Total Units Sales) = 6,650 – 4,100 = 2,250

FINAL GOODS INVENTORY AMOUNT = (Final goods Inventory * Unit Cost) = 2,250 * 4.9 = 12,495

4 0

4 years ago

If an organization is committed to ethical business conduct that commitment should remain constant

Volgvan

Yes, the above statement is true. <span>If an organization is committed to ethical business conduct that commitment should remain constant. Although several firms and many employees remain constant in their ethical commitment and values, variances can happen.</span>

8 0

3 years ago