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ipn [44]
2 years ago
13

On June 10, Concord Corporation purchased $8,050 of merchandise on account from Sarasota Company, FOB shipping point, terms 1/10

, n/30. Concord Corporation pays the freight costs of $510 on June 11. Damaged goods totaling $450 are returned to Sarasota for credit on June 12. The fair value of these goods is $80. On June 19, Concord Corporation pays Sarasota Company in full, less the purchase discount. Both companies use a perpetual inventory system.
Business
1 answer:
mariarad [96]2 years ago
6 0

Explanation:

The journal entries are as follows in the books of Concord Corporation

On June 10

Merchandise inventory A/c Dr $8,050

              To Account payable A/c $8,050

(Being the inventory is purchased on account)                

On June 11

Merchandise inventory A/c Dr $510

             To Cash A/c $510

(Being freight is paid by cash)

On June 12

Accounts payable A/c Dr $450

    To Merchandise Inventory A/c $450

(Being goods returned is recorded)

On June 19

Accounts payable A/c Dr $7,600     ($8,050 - $450)

    To Cash A/c $7,524              ($7,600 × 1%)

    To Merchandise Inventory A/c $76

(Being payment is recorded)

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_____ determines the boundaries of the firm along three dimensions: vertical integration (along in the industry value chain), di
pashok25 [27]

Answer:

The correct answer is D

Explanation:

Corporate strategy is the kind of strategy which plan to select as well as develop the specific markets in which to compete when improving the divisions as well as units of the business.

This strategy involve 2 components, which are moving to new industries and diversification, which states expanding the area of the market.

So, the corporate strategy is the one which determine the boundaries of the business in 3 dimensions like geographic scope, diversification and vertical integration.

3 0
3 years ago
Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of
gizmo_the_mogwai [7]

Answer:

$27.2

Explanation:

First we have to calculate the total estimated manufacturing overheads which shall be determined as follows:

Estimated total manufacturing overheads=Variable manufacturing overhead+ Fixed manufacturing overheads

Variable manufacturing overhead=Estimated labour hours*manufacturing overhead per labour hour

                                                        =75,000*$10.70=$802,500

Fixed manufacturing overheads=$1,237,500

Estimated total manufacturing overheads=$802,50+$1,237,500

                                                                    =$2,040,000

Now we will compute the predetermined overhead rate which shall be determined using the following formula:

Predetermined overhead rate=Estimated total manufacturing overheads/Estimated labour hours

Predetermined overhead rate=$2,040,000/75,000=$27.2

3 0
3 years ago
(Fueron/Eran) las doce. Question 2 with 1 blank (Hubo/Había) mucha gente en la calle. Question 3 with 1 blankA las doce y media,
VARVARA [1.3K]

Answer:

Explanation: Eran las doce.  

Había mucha gente en la calle.  

A las doce y media, Tomás y yo entramos en el restaurante Tárcoles.  

Todos los días yo almorzaba con Tomás al mediodía.  

El camarero llegó inmediatamente con el menú.  

Nosotros empezábamos a leerlo.  

Yo pedí el pescado.  

De repente, el camarero (volvió a nuestra mesa.  

Y nos (dio una mala noticia.  

Desafortunadamente, no tenían) más pescado.  

Por eso Tomás y yo (decidimoscomer en otro lugar.  

(Llovió cuando (salimos del restaurante.

Así que (regresamos al restaurante Tárcoles.  

Esta vez, (pedí) arroz con pollo.

5 0
3 years ago
Read 2 more answers
_________ is the managerial process of creating and maintaining a fit between an organization's objectives and resources and the
insens350 [35]

Answer:

Strategic planning

Explanation:

6 0
2 years ago
Your regular price is $30/unit, unit variable cost is $20/unit and fixed costs are $3,000 per month. Because of the recession, y
Jet001 [13]

Answer:

Answer is in table which is attached in the attachment. Please refer to the attachment.

Explanation:

<em>Calculations:</em>

Status quo: Revenue 30* 200= 6000, VC 30*20= 4000, CM 6000-4000= 2000, 2000-3000= -1000 (Contribution Margin – fixed cost = Profit/Loss)

(b) Since the loss is less in Advertising even after $300 cost of advertisement, so we would choose the option 3 for advertising.

(c). In order to survive in the period of recession, a business needs cash and reducing operation expenses can do it better. This business is in loss from last three months so it might be useful to shut down the business for some period.

8 0
3 years ago
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