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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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The former CEO of Sam's Club, a division with its own profit-and-loss responsibility, Rosalind Brewer, reported to Walmart's CEO
mart [117]

Answer:

B. strategic business unit

Explanation:

Based on the information provided within the question it can be said that in this situation Sam's Club is therefore a strategic business unit of Walmart. This term refers to a mostly autonomous division of a large company or corporation which is completely independent and focuses and a specific range of products or activities. They also deal with their own profit-and-loss.

7 0
4 years ago
Which of the following lists only the factors that would cause a decrease in the supply of an item? A. A fall in input prices; a
Brut [27]

Answer: d) a rise in input prices; a decrease in the number of sellers in the market; a rise in the price of a substitute in production.

Explanation:

Supply simply has to do with the amount of goods that a particular producer is willing to sell to economic agents at a particular price and at a given time.

It should be noted that rise in input prices; a decrease in the number of sellers in the market; a rise in the price of a substitute in production would cause a reduction in supply of goods and services.

This is because when the number of sellers reduce, the supply will also reduce as there are lesser people supplying the goods. Also, when the prices of input increases, it affects cost and supply reduces.

Therefore, the correct option is D.

5 0
3 years ago
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Liula [17]

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3 0
3 years ago
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Alla [95]

Answer:

The best example I can think of that would integrate all of these concepts is when a business is looking to finance some sort of project and they are seeking financing either through the issuance of bonds or a loan from a bank. Some of the concepts would be important to both parties, while others would be more important to one than the other.

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This would be important to both parties for the same reason as above. Especially the "current ratio" (current assets / current liabilities) and the "working capital" ratio (current assets - current liabilities).

Financial Statements

This would be of most importance to the financiers. They would want to see the total picture of a company's financial strength.

Time Value of Money

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5 0
3 years ago
One of the most important features of the franchise contract is the provision related to
DanielleElmas [232]
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