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Thepotemich [5.8K]
3 years ago
5

On November 1, 2021, Green Valley Farm entered into a contract to buy a $150,000 harvester from JohnDeere. The contract required

Green Valley Farm to pay $150,000 in advance on November 1, 2021. Theharvester (cost of $110,000) was delivered on November 30, 2021. The journal entry to record thecontract on November 1, 2021 includes a
Business
1 answer:
Sati [7]3 years ago
6 0

Answer:

Journal Entry

Explanation:

The Journal Entry is shown below:-

Cash Dr,                                       $150,000

    To Unearned sales revenue              $150,000

(Being receipt of cash in advance is recorded)

Therefore to record the inflow funds we debited cash and to record the liability/obligation to deliver such goods we credited unearned sales revenue.

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What is an advantage of working for a mom-and-pop establishment?
Harlamova29_29 [7]

Answer:

I think its B. If you move, you can transfer to work at another branch. But I am quiet not sure

8 0
2 years ago
Read 2 more answers
EB11.
Zarrin [17]

Answer:

Q. Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase, and 5% in the second month following the purchase. What are the cash payments if it made the following purchases in 2018?

February 2018 $90,000, March 2018 92,000, April 2018 101,000, May 2018 98,000, June 2018 99,500.

Answer) $440,775

Explanation:

Cash payments to be made in 2018 for the purchases given in question are:

                              Feb 2018        Mar 2018   Apr 2018   May 2018  June 2018

Cash Payments

65% of $90,000   58,500            

30% of $90,000                           27,000

5%  of $90,000                                               4,500

65% of $92,000                           59,800

30% of $92,000                                             27,600

5%  of $92,000                                                                 4,600

65% of $101,000                                             65,650

30% of $101,000                                                              30,300

5%  of $101,000                                                                                      5,050

65% of $98,000                                                               63,700

30% of $98,000                                                                                      29,400

65% of $99,500                                                                                      64,675

Total                       $58,500     $86,800   $97,750     $98,600          $99,125

Total payments in 2018=$440,775

(58,500+86,800+97,750+98,600+99,125)

3 0
3 years ago
Manufacturing automation and office automation are examples of ______ that are forces for change outside the a. organization.
s344n2d4d5 [400]

Answer:

b) technological advancements

Explanation:

Manufacturing automation and office automation are examples of technological advancements that are forces for change outside the....

Automation of manufacturing and office entails the use of technology in place of traditional means. Advancement in technology has made enterprises shift from traditional means of production to technology, which enhances efficiency and improves productivity.

4 0
3 years ago
Which of the following can explain the upward slope of the short-run aggregate supply curve? a. nominal wages are slow to adjust
Goryan [66]

Answer: A - nominal wages are slow to adjust to changing economic conditions 

Explanation:

In the short run, the costs of many of the factors used in the production process are fixed.  For example labours wage is fixed for a number of years because of labour contracts. Also the raw materials used in the production process have long term agreements that fix their prices.

As a result of factors of production been fixed in the short run, when general price level rises and the cost of production remains constant, profit also rises.

Firms take advantage of this rise in price and increase production and the quantity of aggregate supply increases. This is why the short run aggregate supply curve is upward sloping.

7 0
3 years ago
During 2016, Rao Co. introduced a new line of machines that carry a three-year warranty against manufacturer's defects. Based on
Over [174]

Answer:

$319,000

Explanation:

The computation of the liability is shown below:

= Total expenses in three year - actual warranty expenditure

where,

Total expenses in three years = Total sales × total percentage of sales

                                                = $6,200,000 × 9%

                                                = $558,000

And, the actual warranty expenditure is $239,000

Now put these values to the above formula  

So, the value would equal to

= $558,000 - $239,000

=  $319,000

6 0
3 years ago
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