Answer:
Dr. Cr.
July 19
Cash $792
Discount expense $8
Account Receivable $800
Explanation:
The term 1/15, n/30 mean there is a discount of 1% is available on the sales value, if payment is made within 15 days of sale with credit term of 30 days.
The sale of $900 was made on July 10 and discount period is until July 25.
On July 12 goods amounting $100 was returned and now the amount due from the customer is $800 ( $900 - $100 ).
The payment made on July 19 is actually in the discount period and it is eligible for the discount as it is made before July 25.
Discount = Amount due x Discount rate
Discount = $800 x 1% = $8
$792 Cash received against the sale made on July 10 and discount $8 is expensed. Total of $800 is credited from the account receivable account to eliminate it.
25,000 shares authorized
12,000 shares issued
10,000 shares of common stock outstanding
0.50 per share cash dividend on its common stock outstanding
Declaration of dividends on its common shares.
10,000 * 0.50 = 5,000
Debit Credit
Retained Earnings 5,000
Dividends Payable 5,000
<span>The primary purpose of the requirements analysis phase is to determine and document the specific features and functions of the new system. It does not eliminate obviously nonsensible projects before forming a project development team. Identify the requisite skills needed or show personnel assigned to the project or investigates how much similar projects have cost in the past.</span>
Answer:
minimize the material handling costs.
Explanation:
A process-oriented layout is a strategic method or technique used by manufacturing companies to organize and develop their work areas (factories) based on the processes and activities being performed at each factory rather than on the product being manufactured.
Hence, the typical goal used when developing a process-oriented layout strategy is to minimize the material handling costs for each factory.
Process costing can be defined as a cost accounting method used for assigning manufacturing or production costs to the units of goods produced by a business firm over a specific period of time. It is mostly used by firms that produce a large quantity of homogeneous or similar products on a continuous basis. Process costing typically uses more than one Work in Process Inventory account because costing at each stage of production or manufacturing process.
