On September 12, Vander Company sold merchandise in the amount of $5,800 to Jepson Company, with credit terms of 2/10, n/30. The
cost of the items sold is $4,000. Vander uses the periodic inventory system and the gross method of accounting for sales. On September 14, Jepson returns some of the non-defective merchandise, which is restored to inventory. The selling price of the returned merchandise is $500 and the cost of the merchandise returned is $350. The entry or entries that Vander must make on September 14 is (are):
1 answer:
Answer:
DR Sales returns and Allowances ............................. $500
CR Accounts Receivable........................................................$500
Explanation:
Jepson returned $500 worth of goods so this would need to be accounted for by reducing the Accounts receivable amount by $500.
The returns will be accounted for in the Sales returns and allowances account which will be debited to reflect this.
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This question seems incomplete. Here is the detailed and complete question:
A work-mode-choice model is developed from data acquired in the field in order to determine the probabilities of individual travelers selecting various modes. the mode choices include automobile drive-alone (dl), automobile shared-ride (sr), and bus (b). the utility functions are estimated as follows: udl = 2.6 - 0.3(costdl) - 0.02(travel timedl) usr = 0.7 - 0.3(costsr) - 0.04(travel timesr) ub = -0.3(costb) - 0.01(travel timeb) where cost is in dollars and time is in minutes. the cost of driving an automobile is $5.50 with a travel time of 21 minutes, while the bus fare is $1.25 with a travel time of 27 minutes. how many people will use the shared-ride mode from a community of 4500 workers, assuming the shared-ride option always consists of three individuals sharing costs equally?
Answer: 828 workers will use the shared - ride mode.
Explanation: You can see the attached for a more detailed explanation.
Answer:
The total cost of establishing the portfolio is $2054.95.
Explanation:
The present value of a bond is given as
For 1 year zero-coupon bond is
- FV is 500
- r is 7% or 0.07
- n is 1
So the value is
Similarly, for 3 years zero-coupon bond is
- FV is 2000
- r is 8% or 0.07
- n is 3
So the value is
So the total cost is
Total Cost=Cost of 1-year zero-coupon bond+Cost of 3-years zero-coupon bond
Total Cost=$ 467.29+$ 1587.66
Total Cost= $ 2054.95
So the total cost of establishing the portfolio is $2054.95.