1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Sunny_sXe [5.5K]
3 years ago
6

Novak’s Market recorded the following events involving a recent purchase of inventory: Received goods for $112000, terms 2/11, n

/30. Returned $2200 of the shipment for credit. Paid $400 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company’s inventory increased by $110200. increased by $107604. increased by $108004. increased by $107996.
Business
1 answer:
Arte-miy333 [17]3 years ago
5 0

Answer:

Option (C) is correct

Explanation:

The payment is made during the discount period of 11 days so the 2% discount rate would be applicable.

Goods purchased =   $112,000

Goods returned = $2,200

Discount =   (Goods purchased - goods returned) × 2%

               = ($112,000 - $2,200) × 2%

               = $2,196

Net purchase = Goods purchased - returned - Discount

                       = $112,000 - $2,200 - $2,196

                       = $107,604

Total inventory cost = Net purchase + Freight cost

                                 = $107,604 + $400

                                 = $108,004

Therefore, company’s inventory increased by $108,004.

You might be interested in
What is the meaning of deplation​
slava [35]

Answer: The meaning of depletion to allocate the cost of extracting natural resources like oil and minerals from the earth.

Explanation:

  • The term depletion is a concept generally we use in tax and accounting.
  • The meaning of depletion is to move the cost of extracting natural resources like oil and minerals from the earth to the income sheets.
  • It is a non-cash expense that lowers the cost value of an asset gradually scheduling charges to the income.
  • To evaluate the depletion per unit we divide the total cost less salvage value by the total number of estimated units.

5 0
3 years ago
Mannarelli Corporation uses the FIFO method in its process costing system. Operating data for the Casting Department for the mon
Serjik [45]

Answer:

$ 5.34

Explanation:

Calculation for cost per equivalent unit for conversion costs for September

First step is to find the Equivalent units of production

To complete beginning work-in-process:

Conversion 12,000

[15,000 units × (100%-20% )]

Units started and completed 65,000

(89,000-24,000)

Ending work-in-process

Conversion 21,600

(24,000 units × 90%)

Equivalent units of production 98,600

Second step is to calculate the Cost per equivalent unit using this formula

Cost per equivalent unit =Cost added during the period ÷Equivalent units of production

Let plug in the formula

Cost per equivalent unit = $526,524÷98,600

Cost per equivalent unit = $5.34

Therefore The cost per equivalent unit for conversion costs for September is closest to $ 5.34

7 0
3 years ago
Total transaction costs, based on the assumptions provided, are expected to be:
Jobisdone [24]

Based on the costs of acquisition of Walmart by Amazon, the total transaction costs would come to B. $22,002.

<h3 /><h3>What are the total transaction costs?</h3>

Equity financing cost:

= 5.5% x 241,350.75

= $13,274.29

Debt financing cost:

= 1.5% x 241,350.75

= $3,260.26

Other transaction costs:

= $3,000

Target debt redemption premium:

= 70,242 x 3%

= $2,107.26

The total transaction costs are:

= 13,274.29 + 3,260.26 + 3,000 + 2,107.26

= $22,002

Find out more on acquisition costs at brainly.com/question/14300655

#SPJ1

8 0
2 years ago
20 out of 45 men surveyed liked beef. What percentage of men did NOT like beef? (Round up to nearest %.)
Juliette [100K]
I'm not a mathematician but I'm going to go out on a limb here and say 44%!
6 0
3 years ago
_____ combine data on consumer expenditures and socioeconomic variables with regional information in order to identify commonali
Bezzdna [24]

Answer:

Geo-demographic technique

Explanation:

This is a technique that simply combine data on consumer expenditures and socioeconomic variables with geographical information in order to identity commonalities in consumption patterns of households in various regions.

4 0
3 years ago
Other questions:
  • Key practices in the partnering approach to managing contracted relationships include
    15·1 answer
  • Assume Maine Line Railway is considering hiring a reservations agency to handle passenger reservations. The agency would charge
    6·2 answers
  • The following information is available for Trinkle Company for the month of June:
    11·1 answer
  • In an acquisition the firm being purchased is the and the firm which is purchasing the other firm is the
    15·1 answer
  • What about this profile would most appeal to a recruiter from a public relations firm? Check all that apply. the username the bi
    9·1 answer
  • Great Harvest Bakery purchased bread ovens from New Morning Bakery. New Morning Bakery was closing its bakery business and sold
    15·1 answer
  • Case Problem Analysis: Jurisdiction
    8·2 answers
  • Leroux health insurance is considering changing the options in one of their health care plans (plan a) based on customer feedbac
    12·1 answer
  • Global company holds a portfolio of equity securities. the company intends to sell the securities during the next accounting per
    13·1 answer
  • if 14.6 million people are unemployed, 155.5 million people are employed, and 7.9 million people are institutionalized, what is
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!