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Vaselesa [24]
3 years ago
7

David Company uses the gross method to record sales made on credit. On June 10, 2017, it sold goods worth $250,000 with terms 2/

10, n/30 to Charles Inc. On June 19, 2017, David received payment for 1/2 of the amount due from Charles Inc. David's fiscal year end is on June 30, 2017. What amount will be reported in the financial statements for the accounts receivable due from Charles Inc?
Business
1 answer:
Alenkinab [10]3 years ago
7 0

Answer:

$125,000

Explanation:

Good worth $250,000-$125,000

=$125,000

The amount that will be reported in the financial statements for the accounts receivable due from Charles Inc is $125,000 due to the fact that On June 10, 2017 goods worth $250,000 where sold to Charles Inc and On June 19, 2017, David received payment for 1/2 of the amount due from Charles Inc which makes us to arrived at $125,000 which is the 1/2 of $250,000 then less the actual amount which is $2,50,000 which in turn make us to arrived at $125,000 as the answer.

(1/2×$250,000)=$125,000

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You are analyzing your company in order to ensure that the retirement plans of its employees best benefit both the employees and
melamori03 [73]

Answer:

C) Offering the two executives a defined benefit plan.

Explanation:

A defined benefit plan is the best option for the two employees that are near retirement age and the company. Since those employees have worked for many years, they should have already accumulated high monthly pension benefits under a defined benefit plan.

A defined benefit plan gives the employee a specific payment once they retire.

7 0
3 years ago
A machine cost $1104000, has annual depreciation of $184000, and has accumulated depreciation of $874000 on December 31, 2020. O
Dafna11 [192]

Answer:

$1,242,000

Explanation:

The new machine is to be recorded at its Fair Value which is $1,242,000 because the exchange has a commercial substance. Asset forgone is credited by its original cost, and accumulated depreciation till date of exchange is debited. Cash paid and loss or gain is adjusted as required. But the new asset is debited by the amount of its Fair Value on the day of exchange.

8 0
3 years ago
Trident Manufacturing Company's treasurer identified the following cash flows during this year as significant. It had repaid exi
vekshin1

Answer:

$28,496

Explanation:

Calculation to determine the net cash provided (used) by financing activities

Cash inflows from financing activities $750,000

Less Cash outflows from financing activities ($721,504)

($425,110 + $63,250 + $233,144)

Net cash flows from financing activities $28,496

($750,000 – $721,504)

Therefore the net cash provided (used) by financing activities is $28,496

4 0
3 years ago
The United States has a comparative advantage in the production of wheat, and Haiti has a comparative advantage in the productio
cestrela7 [59]

Answer:

the production and the consumption of both the goods will increase.

Explanation:

  • The U.S and the Haiti have a  comparative advantage in the production of the wheat and sugar thus they can maximize their combined output and allocate their resources more efficiently.
  • If both of the countries tend to specials on the basis of the theory of comparative cost advantage given by David Ricardo.  

6 0
3 years ago
You work for a large electronics distributor. Your job is to provide training and to be a troubleshooter and consultant for user
goblinko [34]

Answer:

1. It is not ethical to monitor personal activities of the employees but if something illegal is happening it needs to be uncovered.

2. It is against the law to evade someone's privacy, if one of the employee comes to know about this monitoring the employee can sue the Company.

3. It is not ethical to monitor someone's phone and workstation and she might be willing to check on every employee and not just those suspected, installing LANDSCAPE on her workstation can be a serious breach of confidentiality.

4. It could also be illegal to install such a software which can evade someone's confidentiality, and the company and individuals involved in installing the software can face legal issues.

Explanation:

1. It is not ethical to monitor personal activities of the employees but if something illegal is happening it needs to be uncovered.

2. It is against the law to evade someone's privacy, if one of the employee comes to know about this monitoring the employee can sue the Company.

3. It is not ethical to monitor someone's phone and workstation and she might be willing to check on every employee and not just those suspected, installing LANDSCAPE on her workstation can be a serious breach of confidentiality.

4. It could also be illegal to install such a software which can evade someone's confidentiality, and the company and individuals involved in installing the software can face legal issues.

4 0
3 years ago
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