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alukav5142 [94]
3 years ago
9

Taha Company purchased $8,000 of inventory under terms FOB shipping point. Freight cost amounted to $200. The cost of inventory

and freight were paid with cash. Which of the following shows how the recognition of this purchase, including freight costs if applicable, will affect Taha’s financial statements?
Business
1 answer:
Fittoniya [83]3 years ago
6 0

Answer:

An asset account will decrease by $8,200 (cash account) while another asset account will increase by $8,200 (merchandise inventory), so the total assets in the balance sheet will not change. Since the goods have not been sold yet, they will not affect the income statement.

Explanation:

When a sale is made free on board (FOB) shipping point, the buyer takes ownership of the goods at the seller's shipping dock and must pay the shipping costs.

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Answer:

A) to determine the cost of the asset being depreciated we must use the first year's depreciation using the double declining method to find 40% of the asset's value:

40% of the asset's value = $29,200

asset's value = $29,200 / 40% = $73,000

B) salvage value = asset's value - total depreciation = $73,000 - $65,700 = $7,300

5 0
4 years ago
MasterCard managers are motivated to increase (1) the number of individuals who have and use a MasterCard credit card, (2) the n
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MasterCard could use the data warehousing strategy by making its cards acceptable for any transaction in any place.

Data warehouse plays an important role in the competitive market for MasterCard. As the data has been turned into Business Intelligence (BI), which enables individuals, banks and companies to make strong decisions with regard to payment through electronic means.

The data warehousing could be used by MasterCard to gain a distinct advantage over its competitors. As previously Visa represents around 50% of charges for products sold overall while MasterCard was only at 25%.

An example of using Data warehousing is such that banks can issue MasterCard which if used on Aircraft or Restaurants then these banks can use this data to arrange offers and other benefits to motivate cardholders to spend more with their MasterCard. They could even offer limited time openings such as to pay for room or buy exclusive items during shopping.

5 0
3 years ago
You place an order for 1,600 units of Good X at a unit price of $53. The supplier offers terms of 2/30, net 50. a-1. How long do
andre [41]

Answer:

a-1. How long do you have to pay before the account is overdue?

  • 50 days

a-2. If you take the full period, how much should you remit?

  • if you pay after the discount period (first 30 days) but before the 50th day, you must pay $84,800

b-1. What is the discount being offered?

  • 2% if you pay within 30 days

b-2. How quickly must you pay to get the discount?

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b-3. If you do take the discount, how much should you remit?

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7 0
3 years ago
Hillary can invest her family savings in two assets: riskless treasury bills or a risky vacation home real estate project on an
galina1969 [7]

Answer:

The expected return on her portfolio is B) 11.8%

Explanation:

Hi, the expected return of a portfolio can be found by multiplying the weight of each of the assets times each of its expected return, that is:

E(portfolio)=E(Tbills)*Weight(Tbills)+E(other)*Weight(other)

So everything should look like this

E(portfolio)=0.04*0.70+0.3*0.3=0.118

The expected return of the portfolio is 11.8%, that is option B)

Best of luck.

7 0
4 years ago
Jimmy's supervisor noticed that he was falling short on the number of setups he was required to complete for the production depa
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Answer:

C. Take corrective action.

Explanation:

According to the information given to us in the question, we can say that Jimmy's supervisor is taking corrective action when he gives Jimmy suggestions to improve his efficiency. We can determine this because Jimmy has been lacking in productivity and by giving him pointers on how to improve his productivity Jimmy's manager is taking action towards solving a problem.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

5 0
3 years ago
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