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zloy xaker [14]
3 years ago
15

On May 1, Anders Company purchased merchandise in the amount of $5,800 from Shilling, with credit terms of 2/10, n/30. Anders us

es the perpetual inventory system and the gross method. The journal entry or entries that Anders will make on May 1 is:a. Sales 5,800 Accounts receivable 5,800 b. Merchandise Inventory 5,800 Accounts payable 5,800 c. Accounts payable 5,800 Sales 5,800 d. Merchandise Inventory 5,800 Cash 5,800
Business
1 answer:
Lera25 [3.4K]3 years ago
4 0

Answer:

Option (b) is correct.

Explanation:

Given that

Amount of merchandise purchased = $5,800

Credit terms = 2/10 and n/10

Using a perpetual system and gross method,

Therefore, the Journal entry is as follows:

On May 1,

Merchandise inventory A/c Dr. $5,800

            To accounts payable                 $5,800

(To record the purchase of merchandise on account at May 1)

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Which statements indicate that Rick’s company is a limited liability company? Rick Douglas is a bright and passionate lighting d
uranmaximum [27]

The statements are:

Because Dazzle is not a separate tax entity, all the owners declare revenue earned through the company on their personal federal tax returns.

The $5 million dollar villa is protected from business liabilities unless the liability is incurred through wrongful acts.

4 0
3 years ago
The holder of a life estate has the right to use property for whatever purpose he or she sees fit without regard to the rights o
hjlf

Answer:

The statement is: False.

Explanation:

A life estate comprehends the property that someone owns during a lifetime. The benefit of a life estate is that property will transfer without the need of the beneficiary appearing in the will after the holder is deceased. They cannot put the property on sale until the holder's decease, though. As well, holders cannot do anything at will without consulting their simple-fee owners.

4 0
3 years ago
Suppose that actual inflation is 3 percent, the Fed's inflation target is 2 percentage points, and unemployment rate is 3 percen
Dahasolnce [82]

The government would set its targeted interest at 6.5%

Based on the Taylor's rule

R = π + A + 0.5(A-A*) + 0.5

This is the formula that helps to get the output gap

<u>Definition of terms</u>

R is the nominal federal funds rate

π is the real rate of federal funds = 2%

A is the rate of inflation

A* is the target of of inflation = 2%

Rate of unemployment = 3%

The government has a target of full employment that is at 4 percent.

When we enter the values into the formula

R = 2% + 3% + 0.5(3%-2%) + 0.5%(2%)

= 5% + 0.5% + 1%

= 6.5%

Therefore the government would set its targeted interest at 6.5%

Read more on brainly.com/question/14466278?referrer=searchResults

5 0
3 years ago
How could government – sponsored grants for the private development of new technologies result in a lower national debt?
Svet_ta [14]

Answer: Making initial development private saves the government from funding all of the research.

Explanation:

A grant refers to an amount of money that is financial assistance thats given by the government or an organization to an individual or firm for a specific purpose. A grant is different from a loan as it isn't meant to be paid back.

Government award grants for the development of technologies, community projects, home insulation etc.

With regards to the question, a government – sponsored grants for the private development of new technologies may result in a lower national debt when the government makes the initial development private thereby saving the government from funding all of the research.

6 0
2 years ago
At the beginning of the year, Rangle Company expected to incur $64,000 of overhead costs in producing 6,400 units of product. Th
Studentka2010 [4]

Answer:

$48,000

Explanation:

The total cost of the units produced in the month is the sum of the direct and indirect cost. The indirect cost is also known as the overheads.

The direct cost is the sum of the direct labor and direct material cost.

Total direct cost = 600( $30 + $40)

= $42000

Indirect cost = 600/6400 * $64,000

= $6000

The total cost of the units made in January was

= $42000 + $6000

= $48,000

6 0
3 years ago
Read 2 more answers
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