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sladkih [1.3K]
2 years ago
13

Cosmos company on july 15 sells merchandise on account to cajon co. for $6,000, terms 2/10, n/30. on july 20 cajon co. returns m

erchandise worth $1,000 to cosmos company. on july 24 payment is received from cajon co. for the balance due. what is the amount of cash received?
Business
1 answer:
faust18 [17]2 years ago
8 0
On July 15, there is pending 6000 on the cash account.

Then on July 20, Cajon Co. returns the merchandise of 1000, so the pending cash decreases and now it is only 5000.

Afterwards, on July 24, Cajon paid for the merchandise. Since the credit terms is 2/10, 2 percent discount will be given if they paid within 10 days. So 5000 multiplied by . 02 = 100. 5000 - 100 = $4900 is the amount of cash received.
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Most students are on strike. Very few students were crossing the picket line. In fact, the postal employees refused to deliver m
brilliants [131]

Answer:

TRUE.

Explanation:

A secondary boycott is an attempt to influence the actions of one business by exerting pressure on another business. It is a situation where one refuses to do business with a company in an attempt to persuade them not to do business with another company where the employees are striking or involved in a disagreement with their employees.

Typically a labor union involved in a dispute with an employer will arrange a secondary boycott if less drastic measures to reach a satisfactory accord with the employer have been ineffective. Secondary boycotts have two main forms: a secondary consumer boycott, in which the union appeals to consumers to withhold patronage of a business, and a secondary employee boycott, in which the union dissuades employees from working for a particular business.

Since the postal employees refused to deliver mail claiming that they were honoring the strike for their fellow service union members. Therefore, it is TRUE that the postal employees were participating in a voluntary secondary boycott.

4 0
3 years ago
Scenario D: Theo, Diana, and Teddy, who work for different organizations, are comparing the diversity makeup of their respective
Marrrta [24]

Answer:

"B"

Explanation:

Monolithic organization is an organization that forcefully incorporate all employees into a particular culture being practiced. It can be a very large organization but lack flexibility and its rate of reaction to changes can be very slow.

Its operational system are complicated as resources can be scarce. It believes it can influence employees' motivation, customers, the market and any other complex system.

This description fits into the situation at Teddy's place of work

3 0
3 years ago
Youngston Company (a Massachusetts employer) wants to give a holiday bonus check of $750 to each employee. Since it wants the ch
stepan [7]

Answer:

Gross bonus=$1,148.54

FIT=252.68

OASDI=71.21

HI =16.65

MASS. TAX=58.00

Explanation:

Calculation for the withholding taxes and the gross amount of the bonus

Calculation for gross amount of the bonus

Gross amount of the bonus= [$750/ (1- 0.22 - 0.062 - 0.0145 - 0.0505] - 0.01

Gross amount of the bonus= [$750/ (0.78 - 0.062 - 0.0145 - 0.0505] - 0.01

Gross amount of the bonus= [$750/ 0.653] - 0.01

Gross amount of the bonus=1,148.545-0.01

Gross amount of the bonus=$ 1,148.54

Therefore the Gross amount of the bonus will be $ 1,148.54

Calculation for the withholding taxes

FIT =1148.54 * 22%

FIT=252.68

OASDI= 1148.54 * 6.2%

OASDI=71.21

HI=1148.54 * 1.45%

HI =16.65

MASS. TAX =1148.54 * 5.05%

MASS. TAX =58.00

NET 750.00

[$1,148.54-(252.68+71.21+16.65+58.00)]

Therefore the withholding taxes are:

FIT=252.68

OASDI=71.21

HI =16.65

MASS. TAX = =58.00

7 0
2 years ago
On January​ 1, 2018, Brazos Company purchased equipment and signed a sixminusyear mortgage note for $ 186 comma 000 at 15​%. The
kifflom [539]

Answer:

The journal entry to record the first installment payment will include a​ debit to interest expense of $27,900, mortgage notes payable of $21,248 and a credit to cash account of $49,148

Explanation:

For recording the first installment payment, we have to compute the interest amount which is given below:

Interest amount = value of Mortgage note × rate × year

                           = $186,000 × 15% × 1 year

                           = $27,900

Since we have to compute the installment for January​ 1, 2019, therefore, we take the one year period

Now, we have to compute the principal amount which equals tp

= Installment amount - interest expense

= $49,148 - $27,900

= $21,248

So, the journal entry would be

Interest expense A/c Dr             $27,900

Mortgage note payable A/c Dr   $21,248

    To Cash                                                       $49,148

(Being payment of the first installment recorded)

7 0
2 years ago
Matt and Bree are saving for a new car. At the end of 2013, their total savings was $ 9,500 . In 2014, total savings increased t
Mrac [35]

Answer:

$725

Explanation:

The total savings made by Mat and Bree in year 2014 shall be given as follow:

Total savings in 2014=Aggregate savings in 2014-Aggregate savings in 2013

Aggregate saving in 2014=$10,225

Aggregate saving in 2013=$9,500

Total savings in year 2014=$10,225-$9,500

                                           =$725

5 0
2 years ago
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