1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
NikAS [45]
3 years ago
9

On May 1. Anders Company purchased merchandise in the amount of $5,800 from Shilling, with credit terms of 2/10, n/30. Anders us

es the perpetual inventory system and the gross method. The journal entry or entries that Anders will make on May 1 is:________A) Sales B) 5,80 Accounts receivable 5,80 C) Purchases ccounts payable 5,800 5.80 D) Merchandise Inventory 5,80 5,800 erchandise Inventory ash 5,800 5,800 19)
Business
1 answer:
julsineya [31]3 years ago
3 0

Answer:

  • Dr Merchandise Inventory 5,800
  • Cr Accounts Payable 5,800

Explanation:

The only records that Anders Company should make on May 1 regarding the purchase of the merchandise form Shilling is:

Debit record Merchandise Inventory 5,800 (since merchandise inventory is an asset account, when it increases it should be debited)

Credit record Accounts Payable 5,800 (since accounts payable is an liability account, when it increases it should be credited)

You might be interested in
The income statement for the year 2018 of Fugazi Co. contains the following information: Revenues $70000 Expenses: Salaries and
olga_2 [115]

Answer:

Explanation:

incorrect answer

a credit balance of $7500

correct answer

a debit balance of $7500.

6 0
3 years ago
Read 2 more answers
Assume Sarah is a cash-method, calendar-year taxpayer, and she is considering making the following cash payments related to her
Marizza181 [45]

The question is incomplete. However, it is about the calculation of after-tax cost of payment

Answer:

After-tax cost = payment*(1-0.37)

Explanation:

The after-tax cost is the net cost after the deduction of the amount of tax from the actual payment. In most cases, the value of the tax deduction is determined by multiplying the marginal tax rate with the payment. Then, the magnitude of the after-tax cost can be estimated by subtracting the payment from the tax deduction.

7 0
3 years ago
Item 6 In Year 1, Lee Inc. billed its customers $57,600 for services performed. The company collected $41,200 of the amount bill
katrin [286]

Answer: $57,600

Explanation:

Accounting works by the Accrual basis. What this means is that transactions are recorded in the period they occur not in the period they are paid for.

In the above, Lee Inc. billed its customers $57,600 for services performed during the year. This is a service company and since their revenue comes from billings, this is their revenue for the year.

It does not matter that some of the services have not been paid for, it matters that the services were performed during the year.

5 0
3 years ago
What factors determine business ethics?
irinina [24]

Answer:

a.how a company treats employees

b. how a company treats consumers

c. whether a company obeys the law

e. whether a company respects the community

f. whether a company respects the environment

Business ethics refer to an area of study involving proper business policies and practices. Generally, the laws governing companies help them form a framework to adhere to in order to gain acceptance from society.

Hence, the way in which a company treats its employees and customers, its compliance with the laws of the land, and the way it acknowledges its responsibility to the community and environment are some of the factors that determine business ethics.

6 0
3 years ago
Read 2 more answers
How may the following products be brought as convenience goods, especially
zhenek [66]

Answer:

Classification is the process of dividing the members of a population into smaller groups, so that in each group, members with similar characteristics are placed. The post-classification process continues at the macro level, and each subgroup is subdivided into smaller subdivisions, which can also be subdivided into smaller subdivisions. If necessary, each category is divided into sections. Each of these steps is called a division level , i hope it i can not help you

4 0
2 years ago
Other questions:
  • A company has outstanding 20-year noncallable bonds with a face value of $1000, and 11% annual coupon, and a market price of $1,
    5·1 answer
  • Roberta cartwright puts money each month into a mutual fund that has very few? controls; in? that, the managers can invest in wh
    13·1 answer
  • Monty loaned his friend Ned $20,000 three years ago. Ned signed a note and made payments on the loan. Last year, when the remain
    12·1 answer
  • When the Fed adjusts its interest rate, it directly influences consumer
    13·2 answers
  • During its first year of operations, Silverman Company paid $14,000 for direct materials and $19,000 for production workers' wag
    7·1 answer
  • The business environment consists of several factors that affect a business's ability to be successful and operate profitably.Cr
    14·1 answer
  • Free rider problems are everywhere. For example, some restaurants let each food server keep his or her own tips. Other restauran
    14·1 answer
  • The Electrocomp Corporation manufactures two electrical products: air conditioners and large fans. The assembly process for each
    14·1 answer
  • Joe and Mark would like to start a new business selling a product new to the U.S., the Peraves Monotracer. This is a motorcycle-
    12·1 answer
  • Jessica submitted to cancel event request form to cancel event she is scheduled to conduct three weeks from today the only adver
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!