1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
dusya [7]
3 years ago
11

A company using the perpetual inventory system purchased inventory worth $ 22 comma 000 on account with terms of 2​/10, ​n/30. D

efective inventory of $ 1 comma 000 was returned two days​ later, and the accounts were appropriately adjusted. If the invoice is paid 10 days after the invoice​ date, the amount of the purchase discount that would be available to the company is​ ________
Business
1 answer:
EastWind [94]3 years ago
4 0

Answer:

Discount = $420

Explanation:

Inventory purchased = $22000

Defective inventory = $ 1000

to find out

amount of the purchase discount that would be available to the company is​

solution

we know Inventory purchased = $22000

and return is $1000

so Net Purchases = $22000  - $1000

Net Purchases = $21000

so

discount claim for $21000  is 2%

Discount = 2% of $21000

Discount = $420

You might be interested in
What are the important long-term issues relevant for managing capacity, revenue, and customer satisfaction for southwest airline
ale4655 [162]

Some long-time period problems applicable for dealing with ability, revenue, and patron satisfaction for Southwest airways includes right usage of the corporation’s fleet of airplanes.

This is a applicable difficulty as it directly influences capability, sales, and customer pride if planes are not being properly applied. For example, all three of these factors will lower if half of Southwest’s fleet became grounded and flights had to be cancelled, or all three factors could growth if the whole fleet turned into being utilized to its fullest extent. Some other lengthy-term issue this is relevant to these three factors is turnaround time at Southwest gates, due to the fact as we found out, as low as a sixty second postpone can create a decrease in capability, sales and patron delight.

Learn more about Southwest airways here:- brainly.com/question/27802425

#SPJ4

7 0
1 year ago
tulip Co. owns 100% of Daisy Co.'s outstanding common stock. Tulip's cost of goods sold for the year totals $600,000, and Daisy'
olasank [31]

Answer:

Cost of goods sold to be reported in  consolidated financial statement = $1,000,000

Explanation:

Whenever there is 100% or more than 50% holding in a company, then equity method is followed under which all of the items are to be consolidated, but in case where there are inter transfers that is transfer from holding to subsidiary or vice-versa then such transactions, profit not realized is to be eliminated.

In case where inventory is transferred to subsidiary after adding profit by holding company, then in case if that inventory is sold to third party by year end then entire profit is recognized even the profit added by holding to cost of goods sold to subsidiary.

Where in case such inventory is not sold further by subsidiary to third party and is still held in the stock then such profit added on sale by holding to subsidiary is eliminated.

In our case the entire inventory is sold to third party by the year end.

Therefore, entire profit will be recognized and cost of goods sold to be shown in consolidated financial statements = $600,000 + $400,000 = $1,000,000.

8 0
3 years ago
Read 2 more answers
Draw five sector of macroeconomic model​
solong [7]

Answer:

Here's my Macroeconomic model.

Explanation:

Thus, the five-sector model includes (1) households, (2) firms, (3) government, (4) the rest of the world, and (5) the financial sector. The financial sector includes banks and non-bank intermediaries that engage in borrowing (savings from households) and lending (investments in firms).

8 0
3 years ago
"refer to your way, inc. what type of products is sold at your way?"
hjlf
Your way, inc is a furniture store located in Dallas, Texas, United States, it makes unique and fine pieces of furnitures, they also repair and recover them. 
4 0
3 years ago
Wheeler Company can produce a product that incurs the following costs per unit: direct materials, $11.00; direct labor, $25.00,
Oksi-84 [34.3K]

Answer:

$3.20 per unit

Explanation:

In this question, we have to compare the cost between two cases

In the first case, the total cost per unit would be

= Direct materials per unit + direct labor per unit + overhead cost per unit

= $11 + $25 + $17

= $53

In the first case, the total cost per unit would be

= Purchase price + overhead cost

= $48.55 + $17 × 45%

= $48.55 + $7.65

= $56.20

So, the difference would be

= $56.20 - $53

= $3.20 per unit

3 0
3 years ago
Other questions:
  • Rottino Company purchased a new machine on October 1, 2015, at a cost of $150,000. The company estimated that the machine will h
    5·1 answer
  • At the present time, Andalusian Limited (AL) has 15-year noncallable bonds with a face value of $1,000 that are outstanding. The
    6·1 answer
  • When solving systems of equations we have at least two unknowns. A common example of a system of equations is a price problem. F
    13·1 answer
  • Firms that listen to existing customers and tailor offerings based on this input are far more likely to identify potentially dis
    12·1 answer
  • Mountain Breeze supplies air filters to the retail market and hires workers to assemble the components. An air filter sells for
    10·1 answer
  • By what percentage did​ mydeco's revenues grow each year from 2010 to​ 2013?b. by what percentage did net income grow each​ year
    13·1 answer
  • Norman Pilbarra submits a market order to buy 400 shares. What is the maximum price that he will pay?
    12·1 answer
  • Which of the following is not included in the computation of the quick ratio? a. Accounts receivable b. Marketable securities c.
    13·1 answer
  • Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, d
    9·2 answers
  • A homeowner desires to sell his or her home and signs an exclusive-listing agreement, requiring payment of a six percent commiss
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!