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Sonbull [250]
4 years ago
8

On July 8, Ray Inc. sold 100 printers to Office Rental Company at $600 each and offered a 2% discount for payment within 10 days

. On July 15, Office Rental Company paid the full amount in cash. What should Ray Inc. record on July 15? A. Cash 60,000 Accounts Receivable 60,000 B. Cash 58,800 Accounts Receivable 58,800 C. Cash 58,800 Sales Discounts 1,200 Accounts Receivable 60,000 D. Cash 60,000 Sales Discounts 1,200 Sales Revenue 58,800 Multiple Choice Option A Option B Option C Option D
Business
1 answer:
krek1111 [17]4 years ago
3 0

Answer:

B. Cash 58,800 Accounts Receivable 58,800

Explanation:

Sale of 100 printers to Office Rental Company at $600 each and offered a 2% discount for payment within 10 days

Is Recorded as

Trade Receivable $ 58,000 (debit)

Revenue $58,000 (credit)

Being Recognition of an Asset - Trade Receivable and Recognition of Revenue less sales discount

On payment of full payment transaction is recorded as

Cash $ 58,000 (debit)

Trade Receivable $58,000 (credit)

Being De-recognition of Asset - Trade Receivable and Recognition of Revenue

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Christopher manages a fitness club, which hires many younger, college-aged employees. He has tried several incentive plans to mo
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Answer:

B. shield his employees from having to make decisions about how the company operates.

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3 years ago
Arena Corp. leased equipment from Bolton Corp. and correctly classified the lease as a finance lease. The present value of the m
nadya68 [22]

Answer:

$1,000,000

Explanation:

The Amount to be reported as  lease liability must <em>depict </em>the present value of future cash outflows required to be paid as the entity enjoys its <em>right to use the asset</em>.

Thus, the present value of the minimum lease payments at lease inception was $1,000,000 represents the amount of lease liability.

8 0
3 years ago
What are the tools of macroeconomic policy?
Gnesinka [82]

Answer:

° Fiscal policy

° Monetary policy

° Exchange rate policy

Explanation:

Macro economics policy are tools used by a country's government through their central bank to influence the supply of money, control interest rate in their economy which will lead to economy stability and growth. The tools are explained below. An increase in government spending will make funds available to the household and firms hence increases the volume of money supply in the economy, while a decrease in government spending will also reduce the availability of money to household and firms.

° Fiscal policy . This refers to the use of tax and government expenditure to regulate the supply of money an economy. For instance, government through its central bank uses tax cut to increase the flow of money in an economy. Also, if the government feels that the supply of money in circulation is too much, which could result in inflation, government can increase taxes to be paid by individuals, firms and businesses which in turn will reduce the availability of money.

° Monetary policy. Monetary policy refers to various tools used by the government to control the flow of money in an economy, which includes open market operation, special reserves, interest rate adjustment. For instance, the government through CBN could buy or sell government issued securities which will ultimately affect the supply of money in an economy. Also, there is usually a minimum amount of reserves which must be held by commercial banks, which ultimately affects the supply of money. An increase in reserve ratio reduces the ability of banks to lend money to their customers while and a reduction in the reserve ratio increases their ability to lend to the public hence increases money supply.

° Exchange rate policy. The value of a country's currency in relation to other country's currency is referred to as exchange rate. Exchange rate policy is used to control inflation, preserve the value of domestic currency and also to maintain a favorable external balance of payments of a country.

3 0
3 years ago
It has been proposed that natural monopolists should be allowed to determine their profit-maximizing outputs and prices and then
Fudgin [204]

Answer:

This proposition isn't socially alluring. On the off chance that regular monopolists are permitted to decide their benefit amplifying yields and costs, at that point the yield of the common monopolist would in any case be at the problematic level where cost surpasses minor expense, demonstrating an under-designation of assets to the item.  

It would be progressively alluring to constrain the normal monopolist to charge a value equivalent to minor cost and sponsor any misfortunes. Reasonable return valuing, that is, setting value equivalent to Average Total Cost would be an improvement over this proposition. The imposing business model firm could gain ordinary benefit by settling on reasonable return valuing proposition.

8 0
4 years ago
When Beta Company bought Gamma Company, Beta sold off about 30% of Gamma’s assets because they did not need them. Beta kept only
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Answer:

To prevent a negative effect on their other businesses, resulting in loss of control of assets.

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Counter-cyclical assets are assets that thrives in a period where most other businesses struggle.

For example, Gamma Company would be considered counter-cyclical, if it provides services that are unavailable in beta's other businesses during certain periods or cycle.

To prevent loss of control Beta company decides to retain this part of Gamma company.

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