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Y_Kistochka [10]
3 years ago
14

Jones Manufacturing sent Janes Manufacturing an invoice for equipment with a list price of $10,000. Freight, which is FOB shippi

ng point and not included in the invoice price, was $150. The invoice is dated July 27 with terms of 2/10, EOM. Janes is entitled to a 40% trade discount. If the invoice is paid on September 8, how much does Janes pay?
Business
1 answer:
sladkih [1.3K]3 years ago
7 0

Answer:

Jane Pays $ 6150

Invoice on equipment ($10,000×60%)    6000

Free on board Shipping Cost 150              150

Total                                                           6150

Explanation:

<em>Trade discount</em>

Is discount granted by supplier on bulk purchases or other promotions being held by supplier.Trade discounts is not accounted for in the Buyer`s and Seller`s books (Janes).

However the amount Jane pays must be net of Trade Discount.

<em>Free On Board Shipping (FOB)</em>

Free On Board Shipping (FOB) means Buyer pays for the Shipping Cost of Inventory and also assumes risk and benefits associated with the inventory as soon as the inventory leaves the suppliers premises.

Effect on Inventory

IAS 2 requires Inventory cost to include all cost associated with bringing the inventory in a salable manner and condition.Therefore Free On Board Costs are Included in Cost of Inventory

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The most important factor in determining whether a research collaboration will be successful is:
Alex

<u>Answer</u>:

The most important factor in determining whether a research collaboration will be successful is: B) Whether there is ongoing communication among the team members about their goals and responsibilities.

<u>Explanation</u>:

The research that involves participants from multiple organizations working together to achieve common goals is known as Collaborative Research. This type of research technique is an efficient and more effective way to achieve better results in a short time.

Various factors determine the success of collaborative research, such as the availability of resources, technology, relevant knowledge of the team members, but, the most important factor which determines success is an effective communication between the multiple research teams. If there is no proper communication between the teams, then there will be a lack of coordination, which is harmful for any collaboration.

Therefore, statement B is most suitable.

4 0
3 years ago
The government sector balance is equal to net taxes​ ________ government expenditure on goods and services. If that number is​ _
Dovator [93]

Answer:

less

positive

negative

Explanation:

The government sector balance is income from taxes less government spending

Government sector deficit occurs when government spending exceeds income of the government.

When deficit increases, debt increases. This is because a deficit would need to be funded by additional borrowing

When there is a surplus, government spending is less than the income of the government. Government is able to lend to other sectors

7 0
3 years ago
Giancarlo was just hired to revive an ailing publishing company. He would like to see a financial picture of the company at this
Alex

Answer:

balance sheet

Explanation:

A balance sheet is one of the most essential financial statements that helps accountants and managers grasp the financial structure of the company, at a <u>certain point of time</u>.

The balance sheet clearly states the company's assets, liabilities and stockholders' equity, rigorously adhering to the basic accounting equation:

Assets = Stockholder's Equity + Liabilities

The equilibrium of the equation above is non-negotiable; it relies on common sense too. Every company owns things - <em>assets</em>, which were obtained with the aid of a e.g. bank loan - <em>liability, </em>or investor money - <em>stockholders' equity</em>.

These three groups can be further itemized into smaller, concrete accounts. Also, the <em>liquidity principle</em> is applicable in terms of ordering the items in an increasing liquidity order.

The time context is also an important distinction of this specific financial statement. While statements such as the P&L statement refer to <em>a specific time interval</em> (year, quarter...), the balance sheet reflects <em>a specific point of time.  </em>

6 0
3 years ago
The goal of this exercise is to demonstrate your understanding of the total logistic cost factors, which are expenses to be mini
brilliants [131]

Answer and Explanation:

Stockouts logistics cost factor-

Safeway,

Kmart

Transportation logistics cost factor-

Hyundai,

Ford

Inventory logistics cost factor-

Toyota,

Frito Lay

Return goods handling logistics cost factor-

Phillips,

Costco

Warehousing and materials handling logistics cost factor -

Coca Cola,

Walgreens

Order processing logistics cost factor-

SC Johnson,

Chrysler

logistics cost factors are cost factors associated with logistics ( concerned with acquisition, storage and transportation ofresources) based on the kind of business or kind of products or services a company is into. From the above we see that logistics cost factors vary as the companies are into different products or services and industries and therefore face different logistics costs associated with their production and or delivery. Every company aims to achieve logistics efficiency through minimizing costs associated with their logistics costs factors example Hyundai with transportation logistics cost factors would aim to reduce it's logistics cost factors and maximise profits by its locating it's manufacturing plant close to where it imports parts for it's vehicle manufacturing so as to reduce cost of transporting vehicle parts to manufacturing plant

7 0
3 years ago
Gabriele Enterprises has bonds on the market making annual payments, with eight years to maturity, a par value of $1,000, and se
Anna007 [38]

Answer:

Coupon rate = 0.04292 or 4.292%

Explanation:

To calculate the coupon rate of the bond, we will, use the formula for the price of the bond. As the bond is an annual bond, the coupon payment, number of periods and semi annual YTM will be,

Coupon Payment (C) = x

Total periods (n)= 8

r or YTM = 0.051 or 5.1%

The formula to calculate the price of the bonds today is attached.

948 = x * [( 1 - (1+0.051)^-8) / 0.051]  +  1000 / (1+0.051)^8

948 = x * 6.437166243  +  671.7045216

948 - 671.7045216  =  x * 6.437166243

276.2954784 / 6.437166243  =  x

x = $42.92191128 rounded off to $42.92

Thus, the coupon payment on bond is $42.92

As the coupon payment is calculated by multiplying the coupon rate with the face value of the bond, then the coupon rate will be:

Coupon payment = face value * coupon rate

42.92 = 1000 * Coupon rate

Coupon rate = 42.92 / 1000

Coupon rate = 0.04292 or 4.292%

6 0
3 years ago
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