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Anton [14]
3 years ago
11

At Backstreet Books, Inc., the department manager uses a hand-held scanner to determine the quantity of each best seller the boo

kstore has on its shelves, how many copies of each book was sold the past week and the past month, and exactly when the next shipment of these books is expected to arrive. Backstreet Books embraces the strategy of _______.
Business
1 answer:
Alexeev081 [22]3 years ago
7 0

Answer: Using technology

Explanation: The backstreet books is using technology to say aware of the needs of customers and make their business operations more fast.

     In the given case, the company is using the scanner so that they can keep records of inventory and sales they made. They are using the technological advancement in their business operations for running the activities more efficiently.

The use of scanner for inventory and best selling book records will help the company to keep up with the demand of customers and also helps in future planning.

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Ehler Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During th
DaniilM [7]

Answer:

Ehler Corporation

a) Journal Entries:

Sept. 1  Debit Inventory $12,000

Credit 6%, 3-month Notes Payable (Pippen) $12,000)

To record issuance of note to purchase inventory.

Sept.  30 Debit Interest expense $60

Credit Interest Payable $60

To accrue interest expense ($12,000 * 6% * 1/12).

Oct.  1 Debit Climbing Wall $16,500

Credit 8%, 4-month Note Payable (Prime Bank) $16,500

To record issuance of note payable to purchase climbing wall.

Oct.  31 Debit Interest expense $170

Credit Interest payable $170

To accrue interest expense ($60 + $16,500 * 8% * 1/12).

Nov.  1 Debit Vehicle $26,000

Credit Cash $8,000

Credit 6%, 12-month Note Payable $18,000

To record the purchase of a new vehicle for climbers.

Nov.  30 Debit Interest expense $260

Credit Interest payable $260

To accrue interest expense ($170 + $18,000 * 6% * 1/12).

Dec.  1 Debit 6% Notes Payable (Pippen) $12,000)

Debit Interest payable $180

Credit Cash $12,180

To record the payment of principal and interests.

Dec.  31 Debit Interest expense $200

Credit Interest payable $200

To accrue interest expense ($110 + $90)

b) T-accounts:

Notes Payable

Date      Account Titles            Debit      Credit

Sept. 1    Inventory                                 $12,000

Oct.  1    Climbing Wall                             16,500

Nov.  1    Vehicle                                      18,000

Dec.  1    Cash                       $12,000

Dec. 31  Balance                   34,500

Interest Payable

Date       Account Titles            Debit      Credit

Sept.  30 Interest expense                          $60

Oct.  31    Interest expense                           170

Nov.  30  Interest expense                          260

Dec.  1     Cash                            $180

Dec.  31   Interest expense                         200

Dec. 31   Balance                       $510

Interest Expense

Date       Account Titles            Debit      Credit

Sept.  30 Interest payable           $60

Oct.  31    Interest payable            170

Nov.  30  Interest payable           260

Dec.  31   Interest payable           200

Dec. 31   Income summary                     $690

c) Balance Sheet:

Current liabilities:

Interest payable          $510

Notes payable       $34,500

d) Total interest expense = $690

Explanation:

a) Data and Analysis:

Sept. 1  Inventory $12,000 6% Notes Payable (Pippen) $12,000) to purchase inventory. The 3-month note payable

Sept.  30 Interest expense $60 Interest payable $60 ($12,000 * 6% * 1/12)

Oct.  1 Climbing Wall $16,500 8%, 4-month Note Payable (Prime Bank) $16,500

Oct.  31 Interest expense $170 Interest payable $170 ($60 + $16,500 * 8% * 1/12)

Nov.  1 Vehicle $26,000 Cash $8,000 6%, 12-month Note Payable $18,000

Nov.  30 Interest expense $260 Interest payable $260 ($170 + $18,000 * 6% * 1/12)

Dec.  1 6% Notes Payable (Pippen) $12,000) Interest payable $180 Cash $12,180

Dec.  31 Interest expense $200 Interest payable $200

3 0
3 years ago
One element of ethical research consists of being open minded while researching and ensuring that data is leading your thoughts
Mumz [18]

Answer:

Objectivity

Explanation:

Objectivity as an element of ethical research requires a researcher to carry out the full research study or experimentation right from the design stage to the final analysis or interpretation to be free of any form of bias towards the outcome of the research study, findings or conclusion.

Hence, in this case, the element of ethical research that best describes these ideals is OBJECTIVITY.

7 0
3 years ago
One of the huge benefits of just-in-time production is that the need for _______________ is eliminated.
dsp73

One of the huge benefits of just-in-time production is that the need for "time" is eliminated.

<h3>What is just-in-time production?</h3>

With just-in-time (JIT) manufacturing, products are produced as needed, rather than in excess or ahead of schedule.

Some characteristics of just-in-time are-

  • With just-in-time (JIT) manufacturing, products are produced as needed, rather than just-in-time (JIT) inventory system is a management strategy that aligns raw-material orders from suppliers directly with production schedules in excess or ahead of schedule.
  • Because Toyota, a vehicle manufacturer, introduced just-in-time manufacturing in the 1970s, the practise is often referred to as the Toyota Production System (TPS).
  • To prevent work-in-process overcapacity, JIT is frequently used in conjunction with the scheduling technique known as kanban.
  • The JIT production method depends on consistent output, excellent craftsmanship, no equipment failures, and trustworthy suppliers for its success.
  • The JIT system is also known as short-cycle manufacturing (as used by Motorola) and continuous-flow manufacturing (as used by IBM).

To know more about just-in-time inventory management, here

brainly.com/question/8842151

#SPJ4

4 0
2 years ago
A customer has a margin account that shows a market value of $190,000 and a debit balance of $90,000. in addition, the account h
vodka [1.7K]

A maintenance margin is a minimum equity an investor ought to preserve withinside the margin account after the acquisition has been made. Hence,  the long market value at maintenance in this case is $120,000.

<h3>What do you mean by long market value?</h3>

Long market value at maintenance refers to the point where an account must fall (in market value) to reach minimum maintenance (25% of market value). ;

The maintenance margin is far presently set at 25% of the full value of the securities in a margin account as in step with Financial Industry Regulatory Authority (FINRA) requirements.

To calculate the <em> </em>long market value at maintenance,  divide the debit balance by .75 ($90,000 / .75 = $120,000)

Hence,  the long market value at maintenance is $120,000.

Learn more about long market value at maintenance:

brainly.com/question/15057471

#SPJ1

3 0
2 years ago
"Danielle relies on summer earnings to fund her next year at the university. When she tried to get her old high school summer jo
DanielleElmas [232]

Answer:Danielle relies on summer earnings to fund her next year at the university. When she tried to get her old high school summer job back at local Cool Rags Clothier, she learned that the manager no longer hires college students during the summer months. Which of the following strategies do you recommend that Danielle pursue?Answer C

4 0
3 years ago
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