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Kipish [7]
2 years ago
11

Platen purchased inventory on August 17 and received an invoice with a list price amount of $5,900 and payment terms of 4/10, n/

30. Platen uses the net method to record purchases. For what amount should Platen record the purchase
Business
1 answer:
ch4aika [34]2 years ago
7 0

Answer:

$5,664

Explanation:

Calculation of the amount that Platen should record the purchase.

Using this formula

List price -(Percentage of payment term × list price)

Let plug in the formula

$5,900 -(4%×5,900 )

=$5,900-$236

=$5,664

Therefore Platen should record the purchase on August 17 as a:

Debit to Purchases (periodic system) and a Credit to Accounts Payable for $5,664

Therefore the amount that Platen should record the purchase will be $5,664

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Is the monetary costs a firm pays out and the revenue a firm receives. It is the bookkeeping profit<span>, and it is higher than economic </span>profit<span>. </span>Accounting profit<span> = total monetary revenue- total costs.</span>
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3 years ago
The manager believes that an employee should be able to wrap a present within 30 minutes. The employee wraps 1 present every 25
Andreas93 [3]

Answer: 140%

Explanation:

Efficiency refers to how productive a person is in regards to how production they should be.

Formula is:

= Standard time / Actual time * 100%

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3 0
2 years ago
a retailer acquires merchandise for resale. how would this be recorded in a perpetual inventory system?
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Debited to the inventory account.


Hope this helps!
5 0
2 years ago
Suppose that when disposable income decreases by $2,000, consumption spending increases by $1500. Given this information, we kno
sdas [7]

Answer:

the marginal propensity to consume is 0.75

Explanation:

The computation of the marginal propensity to consume is shown below:

MPC = Change in consumption ÷Change in disposable income

where,

The Change  in consumption is 1500

ANd, the Change in disposable income is 2000

So,

MPC is

= $1,500 ÷ $2,000

= 0.75

hence, the marginal propensity to consume is 0.75

4 0
3 years ago
Ruby Red manufactures, markets, and distributes citrus flavored soft drinks across the globe. Ruby Red hired a collection agency
kifflom [539]

Answer:

$31,400

Explanation:

Ruby estimates that only 2% of its 2019 credit sales will be written off

Ruby Red has a $12,800 credit balance in its allowance for doubtful accounts

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Bad debt expense = Credit sales *  2% of its 2019 credit sales

Bad debt expense = $1,570,000 * 2/100

Bad debt expense = $1,570,000 * 0.02

Bad debt expense = $31,400

6 0
2 years ago
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