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3 years ago

What does "2/10" mean, with respect to "credit terms of 2/10, n/30"?

Business

1 answer:

ANEK [815]3 years ago

3 0

a. a discount of 2 percent will be allowed if the invoice is paid within 10 days of the invoice date.

So for example if the bill is $100 "2/10 net 30" and you pay within 10 days, you get a 20 cent discount and the balance is $9.80. If you pay in 30 days, the full 10 dollars is due.

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On August 1, 20Y7, Rafael Masey established Planet Realty, which completed the following transactions during the month:

Sphinxa [80]

Answer:

a. Dr Cash 17,500

Cr Common Stock 17,500

b. Dr Supplies 2,300

Cr Account payable 2,300

c. Dr Cash 13,300

Cr Sales commission 13,300

d. Dr Rent expense 3,000

Cr Cash 3,000

e. Dr Account payable 1,150

Cr Cash 1,150

f. Dr Dividend 1,800

Cr Cash 1, 800

g. Dr Automobile expense 1,500

Dr Miscellaneous expense 400

Cr Cash 1,900

h. Dr Salaries expense 2,800

Cr Cash 2,800

i. Dr Supplies expense 1,050

Cr Supplies 1,050

Explanation:

Preparation of Journal entry

a. Dr Cash 17,500

Cr Common Stock 17,500

b. Dr Supplies 2,300

Cr Account payable 2,300

c. Dr Cash 13,300

Cr Sales commission 13,300

d. Dr Rent expense 3,000

Cr Cash 3,000

e. Dr Account payable 1,150

Cr Cash 1,150

f. Dr Dividend 1,800

Cr Cash 1, 800

g. Dr Automobile expense 1,500

Dr Miscellaneous expense 400

Cr Cash 1,900

(1,500+400)

h. Dr Salaries expense 2,800

Cr Cash 2,800

i. Dr Supplies expense 1,050

Cr Supplies 1,050

8 0

3 years ago

Your local toy store just announced that it will pay a $4 dividend next year, $3 the following year, and then a final liquidatin

topjm [15]

Answer:

It would sell for 761.49 dollars

Explanation:

Generally, stock prices are determined on stock market based on supply and demand mechanism. However, according to the discount dividend model present value of stock could be calculated as dividend per share/(cost of capital equity-growth rate). Growth rate between year 1 and 2 is 3-4/4 equals to -0.25%. From year 2 until year 3 it is 46-3/3 equals to 14.33%. Now we can take arithmetic average of these two and we get 7.04%( 14.33-0.25/2). Finally share could sell today for 46+3+4/(14-7.04%) equals to 761.49 dollars

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3 years ago

Bank capital can best be described as a. the location of most of the major banks of a country. b. the accumulated amount of rese

LenKa [72]

Answer:

c. funds contributed by shareholder purchasers of a bank's stock plus the accumulated retained earnings.

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3 years ago

When dave, a restaurant owner, had his seafood business destroyed by hurricane katrina, he believed that he was in control of hi

Luden [163]

Dave is an individual with an <u>"Internal locus of control".</u>

Locus of control is a person's belief system with respect to the reasons for his or her encounters and the components to which that individual characteristics achievement or disappointment.

In the event that a man has an internal locus of control, that individual credits accomplishment to his or her own endeavors and capacities. A man who hopes to succeed will be more roused and more inclined to learn.

Psychological research has discovered that individuals with a more internal locus of control appear to be in an ideal situation, e.g. they have a tendency to be greater accomplishment situated and show signs of improvement paying employments.

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3 years ago

Which of the following statements is correct? Materials flow into an organization, are processed in some way and distributed to

IRISSAK [1]

Answer:

All of them are correct.

Explanation:

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5 0

3 years ago

What does​ "2/10" mean, with respect to​ "credit terms of​ 2/10, n/30"?

What does "2/10" mean, with respect to "credit terms of 2/10, n/30"?