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aalyn [17]
3 years ago
11

Syfy Company on July 15 sells merchandise on account to Eureka Co. for $5,000, terms 2/10, n/30. On July 20 Eureka Co. returns m

erchandise worth $2,000 to Syfy Company. On July 24 payment is received from Eureka Co. for the balance due. What is the amount of cash received
Business
1 answer:
3241004551 [841]3 years ago
3 0

Answer:

The amount of cash received is $2940

Explanation:

The cash received by Syfy on July 24 will be for the amount due after accounting for sales return by Eureka and after deducting the sales discount / discount allowed.

The balance in accounts receivable account of Syfy after sales return by Eureka on July 20 will be,  5000 - 2000 = $3000

The payments terms allow a 2% discount if payment is made within 10 days of purchases. Eureka paid within the discount period thus it availed a discount of,

3000 * 0.02  =  $60

The amount of cash received by Syfy is = 3000 - 60  =   $2940

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what circumstances could impact a business ability to share their profits with non profit organizations​
Juli2301 [7.4K]

A non- profit organisation cannot gain profit from the business.

Explanation:

In case of non profit organisation the main aim is to help with health care as well as education. Non- profit organisation is important because it helps in building healthy communities and it also helps in maintaining mobility and stability.They help in strengthening communities as well as non profit leader acted as people's voice.

The circumstances that impact a business ability to share their profits with non profit organisations are the non profit organisation acts as a pulse for the community, non profit organisation helps to develop corporate culture, the volunteers grow as organisation grows.

8 0
3 years ago
Which of the following promotion mix approaches involves a producer promoting a product to different channel members who in turn
bulgar [2K]

Answer:

Push strategy

Explanation:

A Push strategy is originated from the push and pull concept in the logistics. This strategy refers to the concept of producers pushing their products into different channels and then those channels will further market and advertise their products. This strategy is one of the various channel strategies that is used by producers.

One of the example would be Walmart which uses push strategy over pull.

I hope the answer is helpful. Thanks for asking.

6 0
3 years ago
Suppose Clampett, Inc. terminated its S election on August 28, 2018. At the end of the S corporation's short tax year ending on
charle [14.2K]

Answer:

correct option is $5,750

Explanation:

given data

amounts were both zero

suspended loss = $20,750

additional capital contributions = $5,750

to find out

How much loss may J. D. deduct in 2019

solution

loss may J. D. deduct in 2019 is $5,750

we know that post transmination period end of 15 September

it is extended here due date of final tax return

it is standardize so that J.D. only deduct loss to extend of his contribution on march

so 2nd contribution make on 15 September

so correct option is $5,750

6 0
3 years ago
Farmer Company purchased equipment on January 1, Year 1 for $82,000. The equipment is estimated to have a 5-year life and a salv
timurjin [86]

Answer:

15600 , 13600

Explanation:

Annual Depreciation =  [Cost of Asset - Salvage Value] / Expected use years

Year 1 Beginning : Cost = $82000 , Salvage Value = $4000, Years = 5

So, Annual Depreciation = [82000 - 4000] / 5

= 78000 / 5 = 15600

Year 4 Beginning : {3 Years gone, 2 years left}

Asset Value remaining = Cost - [(Annual Depreciation)(Years)]

= 82000 - [(15600)(3)]

= 82000 - 46800 = 35200

Dep. = [Cost - Scrap Value] / Years

= [35200 - 8000] / 2

= 27200/2  = 13600

7 0
3 years ago
Do you think business ethics is possible? Sen and Vaidya claim that business ethics are not only possible but a necessary elemen
motikmotik

Business ethics is possible and it can be fully practiced by a person who is hard core  successful businessman.

Explanation:

  • Ethics is a philosophical science of understanding human behavior from all the aspects and differentiating between right and wrong.
  • Business or corporate ethics deals with ethical and moral challenges faced in a business environment. It can be also defined as a set of principles or values decided by the organization's culture.
  • Functioning is an important element in any of the business undertaken. And the functioning of these corporate ethics in a way which are personal, professional and corporate helps one to achieve success in business.
  • It is mandatory to follow business ethics as they have a potential impact on the organization.
  • Following business ethics helps one to achieve their goal in a defined and polished manner
4 0
3 years ago
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