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Fantom [35]
3 years ago
5

Suppose Company A places an order with Company B on May 12. On May 14, Company B ships the ordered goods to Company A with terms

FOB destination. The goods arrive at Company A on May 17. Company A begins selling the goods to customers on May 19 and pays Company B on May 20. When would Company B record the sale of goods to Company A?
Business
1 answer:
Stels [109]3 years ago
3 0

Answer:

The employee that receives cash and checks should also record them in the cash receipts journal.

Explanation:

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Tubby Toys estimates that its new line of rubber ducks will generate sales of $7 million, operating costs of $4 million, and a d
Pavlova-9 [17]

Answer:

$2,300,000

Explanation:

The formula to compute the operating cash flow is shown below:

= EBIT + Depreciation - Income tax expense

where,  

EBIT = Sales - operating expenses - depreciation expense  

= $7,000,000 - $4,000,000 - $1,000,000

= $2,000,000

And, the income tax expense is

= $2,000,000 × 0.35

= $700,000

So, the value would equal to

= $2,000,000 + $1,000,000 - $700,000

= $2,300,000

We simply applied the above formula

7 0
3 years ago
Wind damage occurs to your car costing $800 to repair. If you have a $100 deductible for collision and full coverage for compreh
GenaCL600 [577]

Answer and Explanation:

C. $500

5 0
3 years ago
Over a four-year period, LaKeisha Thompson purchased shares in the Oakmark I Fund. Using the following information, answer the q
ArbitrLikvidat [17]

Answer:

LaKeisha Thompson

a. At the end of four years, the total amount invested is:

= $6,000

b. At the end of four years, the total number of shares purchased is:

= 166.81

c. At the end of four years, the average cost for each share is:

= $35.97.

Explanation:

a) Data and Calculations:

Investments in Oakmark I Fund:

Year            Investment        Price      Number

                      Amount     per share    of share

Feb 2008        $1,500           $40        37.50

Feb 2009          1,500             30        50

Feb 2010           1,500             34        43.60

Feb 2011            1,500             42        35.71

Total               $6,000                        166.81

Average cost per share = $35.97 ($6,000/166.81)

7 0
3 years ago
The president of the Northwoods University student body made a formal request to the IT department for additional computers in t
worty [1.4K]

Because of the formal request made, the President of the University is the:

  • A. initiator

<h3>Who is an Initiator? </h3>

This refers to a person who makes the first offer for a thing or starts off negotiations or requests.

With this in mind and from the given question, we can see that because the president of the University made the formal request for additional computers, then he is the initiator.

Read more about initiator here:

brainly.com/question/2665859

3 0
2 years ago
The methods allowed by the IFRS for valuing property, plant, and equipment are:______.
pogonyaev

Answer:

The methods allowed by the IFRS for valuing property, plant, and equipment are: b. historic cost and fair value.

Explanation:

IAS 16 in IFRS deals with Valuation of Property, Plant, and Equipment.

The method of subsequent measurement of Property, Plant, and Equipment allowed by the standars are Historic Cost and Fair Value (Revaluation)

3 0
3 years ago
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