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3 years ago

Company sell goods to customer who will pay full amount in 30 days; how to record the sale

Business

1 answer:

sp2606 [1]3 years ago

6 0

Answer:

<h2>How to record a credit sale:</h2>

The General Journal or Sales Journal (a subsidiary journal) if the volume of credit sales is on the high side can be used.

i) Using the General Journal:

Date Description Debit Credit

xxx Accounts Receivable (Marjorie Customer) $$$

Sales Revenue $$$

To record the sale of goods on credit, terms n/30.

ii) Alternatively, the Sales Journal is used:

Date Description Amount

xxx Marjorie Customer $$$

other customers $$$

Total (Accounts Receivable) $$$

Explanation:

The General Journal is an all-purpose journal, which can be used to initiate the recording of business transactions. It shows the accounts to be debited and the ones to be credited in the General Ledger.

The use of a subsidiary journal, e.g. a Sales Journal, helps to summarize the particular type of transaction for a period before the total is posted to the control account in the general ledger and the individual customer accounts in the Subsidiary Ledger.

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The current market demand for paper clips is 320 million and its market development index is 55. calculate the approximate marke

Rina8888 [55]

To calculate for the approximate market potential, we simply have to take the ratio of the current market demand over the market development index in fraction. That is:

market potential = 320 million / 0.55

<span>market potential = 582 million</span>

8 0

3 years ago

Company ABC makes kitchen appliances that have many features in great demand by professional chefs whose only interest is in the

weeeeeb [17]

Answer:

d. quality.

Explanation:

-Delivery area refers to the places in which the appliances can be delivered.

-Quantity refers to the amount of appliances that the company can produce and sell.

-Price refers to the amount of money that customers would pay for the appliances.

-Quality refers to the degree in which the appliances can meet the customer's requirements.

According to this, the answer is that based on its customers, ABC should try to dominate the market in quality because its products meet the expectations of professional chefs and that should be market to focus on as the company can have an important advantage by providing exactly what they need.

The other options are not right because professional chefs are interested on what they can do with this appliances and not on price, quantity or delievery area.

6 0

3 years ago

Consider the following information: Rate of Return If State Occurs State of Probability of Economy State of Economy Stock A Stoc

kicyunya [14]

Answer:

a) The expected return of equally weighed portfolio is 14.23%

b) The expected return of equally weighed portfolio is 16.45%, hence Variance = 1.596457%

Explanation:

See workings of a and b attached in a form of spreadsheet.

7 0

3 years ago

Suppose that there are 1 million federal workers at the lowest level of the federal bureaucracy and that above them there are mu

goldfiish [28.3K]

Answer:

The answers are:

A) 100,000 layer 1 supervisors; 10,000 layer 2 supervisors; 1,000 layer 3 supervisors; 100 layer 4 supervisors; 10 layer 5 supervisors; and 1 President

B) Including the President there are 111,111 supervisors

C) Including the federal workers at the bottom, there are 7 layers of federal employees

D) Including the President, the total amount of federal employees is 1,111,111 people

E)Almost 10%, the actual number is 9.999991%

Explanation:

The federal bureaucratic pyramid would be like this:

Layer 6 supervisor: 1 president

Layer 5 supervisors: 10 people

Layer 4 supervisors: 100 people

Layer 3 supervisors: 1,000 people

Layer 2 supervisors: 10,000 people

Layer 1 supervisors: 100,000 people

The base of the pyramid (only workers): 1,000,000 people

3 0

2 years ago

Given the cost formula, y = $7,000 + $1.80x, total cost for an activity level of 4,000 units would be:

zaharov [31]

The total cost for this certain activity level can be calculated by substituting 4000 to the x of the equation given above,
y = 7000 + 1.8(4000)
y = 14200

Thus, the total cost of the activity level is $14,200.

4 0

2 years ago