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Anvisha [2.4K]
3 years ago
7

Swifty Corporation records purchases at net amounts. On May 5 Swifty purchased merchandise on account, $85000, terms 2/10, n/30.

Swifty returned $5400 of the May 5 purchase and received credit on account. At May 31 the balance had not been paid. The amount to be recorded as a purchase return is $5400. $5508. $5292. $4860.
Business
1 answer:
Alina [70]3 years ago
6 0

Answer:$5400

Explanation:

In sales merchandise a seller can give a trade or a cash discount. A trade discount is giving based on the volume of sales, while a cash discount is giving to encourage prompt cash payment and it will be accorded the buyer once the conditions of payment is met.

The above scenario is a cash discount which means 2% cash discount will be giving if payment is made whithin 10 days and it should be made within 30 days. The amount of cash discount is there after deducted from the income statement as an expenses, though for the trade discount this is deducted directly to the sales journal.

Swift only return goods of $5400 and this is the amount to be recognized as purchase return.

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Most resources are nonrenewable, and wants and needs are limited. This is an example of?
dimulka [17.4K]

Answer:

scarcity.

Explanation:

Scarcity can be defined as an economical problem that gives the relationship between non-renewable (limited) resources and the limitless wants and needs of consumers.

Basically, it's very important that producers of goods and services make decisions that would help them on how to efficiently allocate scarce or limited resources, in order to meet the unending requirements, wants and needs of consumers.

In Economics, an example of scarcity is that most of the resources used for the manufacturing of finished goods and services are nonrenewable, and as a result, the wants and needs of the end users or consumers are limited. Thus, economists would advise that economies should decide on what to produce, how to produce, when to produce and for whom to produce due to the finite and limited nature of resources i.e the concept of scarcity.

3 0
2 years ago
Margin of Safety Head-First Company plans to sell 5,000 bicycle helmets at $75 each in the coming year. Unit variable cost is $4
valina [46]

Answer:

Margin of safety - Units =3350

Margin of safety - Sales Revenue = $251250

Explanation:

Margin of Safety indicates how much sales may decrease before a loss can be made.

<u>Margin of safety - Units</u>

Margin of safety - Units = 5000-1650 =3350

<em>Margin of Safety as a % = 3350/5000 ×100 = 67%</em>

<u>Margin of safety - Sales Revenue</u>

Expected Sales = (5000 × $75) =$375000

Margin of Safety = $375000 × 67% = $251250

3 0
3 years ago
Hometown​ Grocery, Inc. has​ 41,000 shares of common stock outstanding and​ 5,000 shares of preferred stock outstanding. The com
nalin [4]

Answer:

Dividend Per Each Share = $0.85  per share

Explanation:

given data

common stock outstanding = 41,000 shares

preferred stock outstanding = 5,000 shares

common stock =​ $6.00 par​ value

preferred stock  4% noncumulative = $100.00 par value

total dividend payment = $55,000

solution

we get here Total Preferential Divided that is

Total Preferential Divided = Shares × Face Value × 4%     ........1

Total Preferential Divided = 100 × 5000 × 4%

Total Preferential Divided = 20000

so as that Total Equity Dividend is

Total Equity Dividend = Total Dividend - Total Equity Dividend  .............2

Total Equity Dividend = $55,000 - 20000

Total Equity Dividend = 35000

so Dividend Per Each Share will be

Dividend Per Each Share = \frac{Equity\ Dividend}{Total\ Equity\ Shares}   ..............3

Dividend Per Each Share = \frac{35000}{41000}

Dividend Per Each Share = $0.85  per share

7 0
3 years ago
When planning a budget, the biggest consideration should be the ____?
cricket20 [7]
<span>The answer is B-Total Recurring Monthly in which it is a constant number that you can use or track all of your recurring monthly expenses over time and its an income that a business can count on receiving every single month, and its fundamentally different than traditional businesses. </span>
7 0
3 years ago
Franklin, John, Henry, and Harry have decided to pool their financial resources and business skills in order to open up and run
sergij07 [2.7K]

Answer:

The correct answer is C

Explanation:

Partnership is the form of business which is followed by the Harry, Franklin, John and Henry, who decided to pool their resources in order to open a coffee shop.

Under the partnership, it is legal form of business where the operations of the business is carried out among two or more individuals who are ready to share the profits as well as management. Under this form, they are personally liable for the debt as well if the business undertakes any.

6 0
2 years ago
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