The entry to record this transaction would include:
Dr. Inventory $20,000
Cr. Accounts payable $20,000
What does it mean to purchase inventory on account?
Purchasing the inventory on account for $20,000 means that Ferguson corp. did not make payment for the inventory immediately, it rather purchased the inventory on credit with a promise to pay later.
As a result, the liability of Ferguson corp. has increased, specifically, the company would credit accounts payable with $20,000 such that inventory, which is the receiving account is debited with the same amount
Find out more about journal entry on:brainly.com/question/11312217
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The economic term for the want-satisfying ability, or value, that organizations add to goods or services is utility.
<h3>What is utility?</h3>
Utility refers to the amount of satisfaction a consumer derive from the consumption of certain commodities.
It is the importance or value added to a product or service that helps gives the consumer useful information about all products and services.
Hence, the economic term for the want-satisfying ability, or value, that organizations add to goods or services is utility.
Learn more about utility here : brainly.com/question/24848038
Answer:
The Journal entries are as follows:
(i) Sales revenue A/c Dr. $900
To Cash $900
(To record the correction in sales revenue)
(ii) Merchandise Inventory A/c Dr. $200
To Cost of Goods sold $200
(To record the merchandise returned)
Note:
(1) At the time of sale, the cash would have been debited with the amount of $900 and the sales revenue would have been credited with the amount of $900. Now, the cash of $900 should be credited as it was debited earlier.
(2) The inventory account also credited at the time sale, so it should be debited and the cost of goods sold debited at the time of original sale, so it need to be credited.
A year has two semesters, then
n = 2<span>v(t)=p<span><span>(<span>1+<span>r/2</span></span>)</span><span>2t
</span></span></span><span>
3875.79 = 1900∗<span><span>(<span>1+(<span>0.04/2)</span></span>)^</span><span>2t
</span></span></span><span>
2.0398895 = <span><span>(<span>1+<span>0.042</span></span>)^</span><span>2t
</span></span></span>Apply natural logarithm on both sides
<span>ln(2.0398895) = ln<span>[<span><span>(<span>1+<span>0.042</span></span>)^</span><span>2t</span></span>]
Then simplify,
</span></span><span>0.712896 = 2t∗ln(1.02)
</span><span>t = <span>0.712896 / (<span>2∗ln(1.02))
</span></span></span><span><span>
t=18 years
I hope my answer helped you. Have a nice day!</span></span>
Currently, I would say LEAN and Six Sigma.
