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Bezzdna [24]
3 years ago
6

Alpha Company used the periodic inventory system for purchase & sales of merchandise. Discount terms for both purchase &

sales are, FOB Destination, 2/10, n30 and the gross method is used. > Alpha Company purchased on account $2,700 of merchandise from Bravo Company on May 2, 2016. > Alpha Company returned, to Bravo Company, $200 of this merchandise on May 3, 2016. > Freight charges related to this transaction of $150 were paid by Bravo Company. Use this information to prepare Alpha Company's General Journal entry (without explanation) for the payment for merchandise on May 15. If no entry is required then write "No Entry Require
Business
1 answer:
bagirrra123 [75]3 years ago
7 0

Answer:

(DR) Accounts Payable $2,500

(CR) Cash $2,500

Explanation:

Since the purchase was made on May 2 and the payment is on May 15 then the discount is not available.

Just focus on the net amount of accounts payable.

Initial Purchase of $2,700 less the return of $200 will give $2,500 net accounts payable.

So, we debit Account Payable and Credit Cash for $2,500 because "payment" means crediting "Cash"

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Advice Florence and he team how they can convince the staff using John Kotter's theory to lead change
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According to John Kotter's 3rd step from the 8 steps change model, Florence need to : Create vision for change
Which mean that simply ordering the staff to change is not enough. Florence and her team have to teach the staffs why the change is important for them and how the change will positively affect their condition
7 0
4 years ago
Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows:
masya89 [10]

Answer:

B) 1282

Explanation:

                                      Units         Per unit price        Total

Balance, 1/1/18               200               $5.00               $1,000

Purchase, 1/15/18           100                $5.30                 $530

Purchase, 1/28/18          100                $5.50                 $550

<u>total                                400                                       $2,080</u>

Balance, 1/31/18              140                                          $762

the first in, first out inventory method assigns cost of goods sold to the oldest merchandise available, so the 1/31/18 inventory's balance = (100 x $5.50) + (40 x $5.30) = $550 + $212 = $762

So COGS = $2,080 - $762 = $1,318

gross profit = revenue - COGS = [(400 - 140) x $10] - $1,318 = $2,600 - $1,318 = $1,282

3 0
3 years ago
What places are likely to support a large consumer population?.
Tresset [83]

The places to support a large consumer population are the areas with abundant water and sunlight.

<h3>What is the population?</h3>

The population is defined as the number of persons in a single area, whether it would be a country, region, or any locality.

Governments normally specify the size of the resident population inside their jurisdiction using a count, a methodology of collecting, analyzing, gathering, and publishing data regarding a population.

The large consumer population supports the area where there is abundant water and sunlight.

Therefore, abundant water and sunlight support a large consumer population.

Learn more about the population, refer to:

brainly.com/question/905400

3 0
3 years ago
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Answer:

E. Profit motive

Explanation:

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This ultimately implies that, profit motive is a desire for monetary gains (profits) which motivates a business owner to engage in the sales of finished goods or services.

Hence, profit motive is the premise on which all businesses are built on because the ultimate goal of every business is to achieve financial gains.

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4 0
4 years ago
The Federal Advisory Council of the Federal Reserve decides if any changes to the money supply are needed.
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