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lesya [120]
3 years ago
11

Using XXs for amounts, give the journal entry for each of the transactions, assuming perpetual inventory. (If no entry is requir

ed, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) The entries are: Transaction Account Titles and Explanation Debit Credit Cash sales— (To record sales) (To record cost of goods sold) Credit sales— (To record sales) (To record cost of goods sold) By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor.
Business
1 answer:
lawyer [7]3 years ago
3 0

Answer:

Journal entries

Explanation:

1. Cash Dr XX

             To Sales revenue XX

(Being the cash sales is recorded)          

Since the cash is received so we debited the cash as it also increases the assets and the sales revenue would be credited as it an income for the company

2. Cost of goods sold XX

                To Merchandise inventory XX

(Being the cost of goods sold is recorded)

While calculating the cost of inventory we debited the cost of goods sold and credited the merchandise inventory

1. Account receivable Dr XX

             To Sales revenue XX

(Being the cash sales is recorded)          

Since the sales is made on account so we debited the account receivable  as it also increases the assets and the sales revenue would be credited as it an income for the company

2. Cost of goods sold XX

                To Merchandise inventory XX

(Being the cost of goods sold is recorded)

While calculating the cost of inventory we debited the cost of goods sold and credited the merchandise inventory

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Suppose annual salaries for sales associates from Hayley's Heirlooms have a bell-shaped distribution with a mean of $32,500 and
Rashid [163]

Answer:

-1.8

Explanation:

Data provided in the question:

Mean = $32,500

Standard deviation = $2,500

Earning, X = $28,000

Now using the formula provided in the question for the calculation of the z - score, we have

z score = ( X - Mean ) ÷ ( Standard deviation )

on substituting the respective values, we get

z score = ( $28,000 - $32,500 ) ÷ ( $2,500 )

or

z score = -4500 ÷ $2,500

or

z - score = -1.8

6 0
3 years ago
In the _____ structure hierarchy, the headquarters relies on strategic controls to set rate-of-return targets and financial cont
Yuri [45]

In the competitive structure hierarchy, the headquarters relies on strategic controls to set rate-of-return targets and financial controls to monitor divisional performance relative to those targets.

<h3>What is competitive hierarchy?</h3>
  • The competitive hierarchy, which is an ordered ranking from competitive dominant to competitive subordinate based on either competitive effect or respons, may be used to rank plant species in natural habitats.
  • According to Maslow's hierarchy of needs, a theory of motivation, a person's conduct is determined by five categories of basic human needs. These needs include those for physiology, safety, love and belonging, esteem, and self-actualization.
  • Slow decision-making and communication. The typical organizational hierarchy has an inherent requirement that everything be reviewed and given the go-ahead at each level as it moves up and down the chain.

To learn more about Maslow's hierarchy  refer,

brainly.com/question/1785981

#SPJ4

7 0
1 year ago
Derrick Company issues 4,000 shares of restricted stock to its CFO, Dane Yaping, on January 1, 2017. The stock has a fair value
algol [13]

Answer:

Explanation:

The journal entry is shown below:

On January 1, 2017:

Unearned compensation A/c Dr $120,000

     To Common stock (4,000 × $3)                    $20,000

     To Paid-in capital in excess of par value     $100,000

(Being restricted stock is issued and the remaining balance is credited to the paid-in capital)

On December 31, 2018:

Compensation expenses A/c Dr $30,000

     To Unearned compensation                    $30,000

(Being compensation expenses are recorded)

The compensation expenses is computed below:

= (Fair value of stock) ÷ (number of years)

= ($120,000) ÷ (4 years)

= $30,000

8 0
3 years ago
Which of the following is/are true?
Hatshy [7]

Answer:

If the pure expectations theory is correct, a downward-sloping yield curve indicates that interest rates are expected to decline in the future.

Explanation:

The three theories based on term structure of interest rates includes:

1. Pure Expectation Theory

2. Liquidity Premium Theory

3.Segmented Markets Theory

In Pure Expectations Theory, the term structure shown in the shape of the yield curve is gotten solely by the expectations of interest rates.

According to pure expectations theory, the yield curve has an Upward sloping, if there is an expected increase in rates and expected decrease in rates leads to a downward sloping.

8 0
3 years ago
Heller Company issues $950,000 of 10% bonds that pay interest semiannually and mature in 10 years. What is the bonds’ issue pric
barxatty [35]

Answer:

A. $ 748,714

Explanation:

This 10-year bond with semiannual coupon payment will have 20 coupon payments plus 1 par payment at maturity. The bond price issuing price is the present value of all coupon payments as well as par value. Let formulate the bond price as below:

Bond price = [(Coupon rate/2) x (Par value)]/[1 + (Market interest rate/2)]  + [(Coupon rate/2) x (Par value)]/[1 + (Market interest rate/2)]^2 + ...+ (Coupon rate/2) x (Par value) + Par value]/[1 + (Market interest rate/2)]^20

Putting all the number together, we have:

Bond price = [(10%/2) x (950,000)]/[1 + (14%/2)]  + [(10%/2) x (950,000)]/[1 + (14%/2)]^2 + ...+ (10%/2) x (950,000) + 950,000]/[1 + (14%/2)]^20 = 748,714

7 0
3 years ago
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