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frutty [35]
3 years ago
10

The Assembly Department had 4 comma 500 units of beginning inventory in September​, and 6 comma 000 units were transferred to it

from the Cutting Department. The Assembly Department completed 3 comma 000 units during the month and transferred them to the Packaging Department. Determine the total number of units to account for by the Assembly Department.
Business
1 answer:
Marysya12 [62]3 years ago
7 0

Answer:

The total number of units to account for by the Assembly Department is $10,500

Explanation:

total number of units to account for by the Assembly Department

= Beginning inventory + Unit transfer from other department

= $4,500 + $6,000

= <u>$10,500</u>

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A credit sale is made on July 10 for $900, terms 1/15, n/30. On July 12, the purchaser returns $100 of goods for credit. Give th
balu736 [363]

Answer:

                                      Dr.      Cr.

July 19

Cash                            $792

Discount expense      $8

Account Receivable              $800

Explanation:

The term 1/15, n/30 mean there is a discount of 1% is available on the sales value, if payment is made within 15 days of sale with credit term of 30 days.

The sale of $900 was made on July 10 and discount period is until July 25.

On July 12 goods amounting $100 was returned and now the amount due from the customer is $800 ( $900 - $100 ).

The payment made on July 19 is actually in the discount period and it is eligible for the discount as it is made before July 25.

Discount = Amount due x Discount rate

Discount = $800 x 1% = $8

$792 Cash received against the sale made on July 10 and discount $8 is expensed. Total of $800 is credited from the account receivable account to eliminate it.

5 0
3 years ago
Daniel, an entrepreneur, is planning to open a fast-food restaurant. He wants to cash in on the huge population of busy professi
Karo-lina-s [1.5K]

Answer:

the answer is none of these

8 0
3 years ago
When calculating the future value of multiple cash flows using a spreadsheet, you must:_________
pashok25 [27]

The answer is to calculate the present value of each cash flow and then add the discounted values together.

When calculating the future value of multiple cash flows using a spreadsheet, you must  calculate the present value of each cash flow and then add the discounted values together.

<h3>What is the meaning of cash flow?</h3>

A cash flow is a physical or digital flow of funds.

The phrase "cash flow" is typically used to represent payments that are projected to happen in the future, are thus unknown, and so need to be forecast using cash flows; a cash flow in its restricted sense is a payment (in a currency), especially from one central bank account to another;

A cash flow's time t, nominal quantity N, currency CCY, and account A are what make it up; symbolically, CF = CF (t,N,CCY,A).

However, it is common to use the term "cash flow" in a broader meaning to describe (symbolic) payments into or out of a company, project, or financial product.

Value, interest rate, and liquidity are only loosely correlated with cash flows. A cash flow that will occur on day tN in the future can be changed into a cash flow with the same value on day t0.

To know more about cash flow, visit:

brainly.com/question/15046681

#SPJ4

4 0
1 year ago
Sandhill Warehouse distributes hardback books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. D
Artyom0805 [142]

Answer:

Sandhill Warehouse

Journal Entries:

June 1:

Debit Inventory Account $2,575

Credit Accounts Payable (Catlin Publishers)

To record purchase on account, terms 2/10, n/30.

June 3:

Debit Accounts Receivable (Garfunkel Bookstore) $1,300

Credit Sales $1,300

To record sales of books on account.

Debit Cost of Goods Sold $900

Credit Inventory Account $900

To record cost of books sold.

June 6:

Debit Accounts Payable (Catlin Publishers) $75

Credit Inventory Account $75

To record credit for books returned.

June 9:

Debit Accounts Payable (Catlin Publishers) $2,500

Credit Cash Discount $50

Credit Cash Account $2,450

To record payment on account.

June 15:

Debit Cash Account $1,300

Credit Accounts Receivable (Garfunkel Bookstore) $1,300

To record cash receipt on account.

June 17:

Debit Accounts Receivable (Bell Tower) $1,150

Credit Sales Account $1,150

To record books sold on account.

Debit Cost of Goods Sold $750

Credit Inventory Account $750

To record cost of books sold.

June 20:

Debit Inventory Account $900

Credit Accounts Payable (Priceless Book Publishers) $900

To record purchase on account, terms 3/15, n/30.

June 24:

Debit Cash Account $1,127

Debit Cash Discount $23

Credit Accounts Receivable (Bell Tower) $ 1,150

To record cash receipt on account.

June 26:

Debit Accounts Payable (Priceless Book Publishers) $900

Credit Cash Discount $27

Credit Cash Account $873

To record payment on account.

June 28:

Debit Accounts Receivable (General Bookstore) $1,900

Credit Sales $1,900

To record sale of books on account.

Debit Cost of Goods Sold $970

Credit Inventory Account $970

To record cost of books sold.

June 30:

Debit Sales (Returns) $130

Credit Accounts Receivable (General Bookstore) $130

To record Sales credit

Debit Inventory Account $90

Credit Cost of Goods Sold $90

To record cost of returned books.

Explanation:

1. Purchase of books on account increases inventory and Accounts Payable.

2. Sale of books on account increases Sales and Accounts Receivable.  It also reduces the Inventory Account and increases the Cost of Sales.

3. Return on Purchases reverses the entries made when goods were purchased.

4. Since Garfunkel Bookstore paid after 10 days, it could not enjoy the 2% cash discount on offer.

5. Bell Tower paid within 10 days and enjoyed the 2% cash discount.

6. Priceless Book Publishers was paid within 15 days, so the 3% cash discount applies.

7. Return on Sales reverses the entries during sales.  |t reduces Sales by a contra account called Sales Returns and the Accounts Receivable.  The inventory account is increased and the Cost of Sales is reduced.

8.  Journal entries record the daily transactions of a business as they occur.  From the general journal, postings are made to the Ledger.

5 0
3 years ago
Iggie took a university teaching job as an assistant professor in 1974 at a salary of $10,000. By 2003, she had been promoted to
tiny-mole [99]

Answer:

$36,000

Explanation:

The computation of the lggie's salary is shown below:

= (Iggie salary in 1974) × (2003 price index ÷ 1974 price index)

= ($10,000) × (180 ÷ 50)

= $10,000 × 3.6

= $36,000

Since we have to compute the 2003 salary based on 1974 salary so we consider the 1974 salary and took the 2003 price index as a numerator and 1974 price index as a denominator.

8 0
3 years ago
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