Answer:
Cash payment for merchandise inventory is $1,025,800.00
Cash payment for operating expenses is $179,170.00
Explanation:
The amount of cash payments in respect of merchandise inventory is the cost of merchandise sold minus decrease in inventories plus decrease in accounts payable.
Cash paid for merchandise inventory=$1,031,550-($193,430-$178,020)+($105,800-$96,140)=$1,025,800.00
Cash paid for operating expenses=$179,400+($14,030-$12,650)-($8,970-$7,360)=$ 179,170.00
Complete Question:
The document that the purchasing department prepares and sends to the vendor to place an order is called the:
Group of answer choices
A. Invoice approval.
B. Receiving report.
C. Purchase requisition.
D. Invoice.
E. Purchase order.
Answer:
E. Purchase order
Explanation:
The document that the purchasing department prepares and sends to the vendor to place an order is called the purchase order.
A purchase order is typically a multi-copy commercial document that is prepared by the buyer who is interested in ordering goods and sent sent to a vendor (supplier) to place an order.
Generally, one copy of the purchase order is sent to the vendor (supplier) of the goods while the other copy is sent to the accounts payable department of the company, so as to enable them compare it with the invoice issued by the vendor or supplier for accuracy and accountability.
Additionally, a purchase order comprises of informations such as quantity of goods being ordered, price, type etc.
Answer: based on production
Explanation:
Answer:
The amount of tax is:
= Price paid by consumers - Price received by producers
= 8 - 5
= $3
Burden on consumers:
= Price after tax - Price before tax
= 8 - 6
= $2
Burden on Producers:
= Amount received before tax - Amount received after tax
= 6 - 5
= $1
The effect of the tax on the quantity sold would have been smaller if the tax had been levied on consumers. ⇒ <u>FALSE.</u>
Tax effects are the same regardless of if levied on consumers directly or on producers.
