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devlian [24]
2 years ago
6

Giorgio Italian Market bought $11,000 worth of merchandise from Food Suppliers and signed a 45-day, 8% promissory note for the $

11,000. Food Supplier's journal entry to record the sales transaction is:
Business
1 answer:
Masja [62]2 years ago
5 0

Answer:

                                                Dr.          Cr.

Purchases / Inventory         $11,000

Promissory Note Payable                  $11,000

Explanation:

Promissory note is a signed document which contains a written promise for payment of stated amount to specific person or bond holder on demand or specified date.

In this case the purchases are made and a promissory note of $11,000 is signed for 45 days at 8% annual rate.

This entry will be recorded as the purchases or Inventory are debited and as promissory note is a short term liability so, promissory note payable is credited resulting increase in inventory as well increase in current liability.

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The automobile industry in​ Rhizo, a small developing​ country, has a monopolistic market structure. Crimson​ Inc., the only pla
IceJOKER [234]

Answer:

Option D is the correct answer to this question.

Explanation:

An increase in the average family size in recent years has created a demand for bigger cars. Since Roger Woods proposed that Crimson must introduce some variety in its product line to maintain overall profit margins, option D is the only option that suggests a need for adding a new variety to its product line (Bigger Cars), since there is a demand for it already arising from the increase in the average family size.

6 0
2 years ago
The Electrotech Corporation manufactures two industrial-sized electrical devices: generators and alternators. Both of these prod
adoni [48]

Answer:

Given that generators generate greater profit with less consumption of hours, the maximum profit would be building 130 generators, obtaining $ 32,500 of profit, and there would be 10 hours of testing left over.

Explanation:

Since the Electrotech Corporation manufactures two industrial-sized electrical devices: generators and alternators, and both of these products require wiring and testing during the assembly process, and each generator requires 2 hours of wiring and 1 hour of testing and can be sold for a $ 250 profit, while each alternator requires 3 hours of wiring and 2 hours of testing and can be sold for a $ 150 profit, and there are 260 hours of wiring time and 140 hours of testing time available in the next production period and Electrotech wants to maximize profit, to determine this situation the following mathematical logical reasoning must be carried out:

260/2 = 130

140 - 130 = 10

130 generators = 32,500

Thus, given that generators generate greater profit with less consumption of hours, the maximum profit would be building 130 generators, obtaining $ 32,500 of profit, and there would be 10 hours of testing left over.

4 0
2 years ago
James,the marketing manager for an automobile manufacturer,observes frequent conflicts between two of his subordinates,Jeff and
jeka94

Answer: Person analysis

Explanation:

Based on the scenario that have been given in the question, the scenario suggests that Kelly has conducted a person analysis.

A person analysis is a phase which helps to identify the individuals that are in an organization who lacks certain skills and should therefore be trained.

A person analysis helps to show the individuals that aren't meeting the organization's desired performance.

5 0
2 years ago
From the standpoint of the economy as a whole, the role of insurance is A. to entice risk-loving people to become risk averse. B
Scilla [17]

Answer:

C. not to eliminate the risks inherent in life, but to spread them around more efficiently

Explanation:

Insurance is an agreement where the insurer agrees to cover the losses that might arise if certain events occur to the insured.

Moral hazard and adverse selection are some of the negative issues that arise as a result of insurance.

I hope my answer helps you

3 0
3 years ago
Provisions in the law that automatically increase government spending or decrease taxes when real output declines are called:
vekshin1

Answer: automatic stabilizers

Explanation:

Automatic stabilizers are the provisions in the law that automatically increase government spending or decrease taxes when real output declines.

It should be noted that automatic stabilizers can be used to reduce recession impact on people by helping them to survive even when there is a job loss.

7 0
2 years ago
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