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
suter [353]
3 years ago
7

A company purchased $11,600 of merchandise on June 15 with terms of 3/10, n/45, and FOB shipping point. The freight charge, $1,3

00, was added to the invoice amount. On June 20, it returned $2,080 of that merchandise. On June 24, it paid the balance owed for the merchandise taking any discount it is entitled to. The cash paid on June 24 equals: Multiple Choice $12,280. $9,224. $12,900. $10,534. $12,380.
Business
1 answer:
dlinn [17]3 years ago
7 0

Answer:

$10,534

Explanation:

Net purchases before discount = $11,600 - $2,080 = $9,520

Since the company paid before 10 days, it takes 3% discount as follows:

Discount = $9,520 * 3% =  9,234.40 = $285.60

Net purchases after discount = $9,520 - $285.60 = $9,234.40

The company pays for the freight charge of $1,300 and net purchases after discount. Therefore, we have:

Cash paid = $9,234.40 + $1,300 = $10,534.40, or $10,534 approximately.  

You might be interested in
Target's liabilities exceed owners' equity.<br> a) true<br> b) false
Likurg_2 [28]

Answer: True

Explanation:

As of February 2020, Target Corp's total liabilities were listed to be $30,946,000,000 while its shareholder equity was significantly lower at $11,833,000,000.

Target Corp therefore does indeed have liabilities that exceed owners equity and by a substantial amount. This has also been the trend since at least 2015.

4 0
3 years ago
On January 1, 2017, Dawson, Incorporated, paid $100,000 for a 30% interest in Sacco Corporation. This investee had assets with a
aalyn [17]

Answer:

The amount allocated to goodwill at January 1, 2017, is: $16,000

Explanation:

We talk of goodwill when a company acquires another one and is the difference between the cost to purchase the business minus the fair market value of the tangible assets netted the liabilities.

In this case the fair value of the assets is:

Assets $550,000 + $40,000 - $10,000= $580,000

The book value of the assets is corrected with the fair value, in this case we correct the value of the patent.

Liabilities $300,000

porcentage acquired 30%

price paid $100,000

$100,000 - ((580,000-300,000)*30%) = $16,000

5 0
3 years ago
Zoom In, Inc. is engaged in the business of coding, with an emphasis on Internet marketing, business apps, and intra-corporate n
-BARSIC- [3]

Answer:

Option A. The U.S. Constitution.

Explanation:

The reason is that the US constitution provides the basic framework for the laws to be formulated and passed both in the US National Assembly and the Senate. The laws cannot be formulated if the US constitution doesn't allows the passing of the law which means that the constitution must be amended first. When the slavery was to be eliminated in 1865, the first problem was that passing the elimination of slavery law was inconflict with the US constitution. So the constitution was amended before passing the law to eliminate the conflict.

In the nutshell, every law originates because of different reasons like Technological reasons, Social reasons, Cultural reason, etc) but the basis remains the same which is US constitution which is the basic framework for passing the law.

8 0
3 years ago
Generally when do glaciers advance downward, causing further erosional landforms? throughout the entire year during colder seaso
melamori03 [73]
<span>Generally, it is during the colder seasons that glaciers tend to advance downward, causing further erosional landforms.  Items below are facts regarding Glaciers according from the <span>National Oceanic and Atmospheric Administration (NOAA) who studies the skies and the oceans: </span></span>

<span>1. </span><span>Approximately 10 percent of Earth's land is covered with glaciers. </span>

<span>2. </span>Glaciers covered 32 percent of land during the last Ice Age.

<span>3. </span>Glaciers store about 75 percent of the world's fresh water.

<span>4. </span>Antarctic ice is more than 2.6 miles approximately 4,200 meters thick in some areas.

<span>5. </span>If all land ice melted, sea level would rise approximately 230 feet (70 meters) worldwide.





4 0
3 years ago
Firms such as IKEA and The Home Depot are known for their use of __________ because they set reasonably low prices but still off
Maslowich

Answer:

b. value-based pricing

Explanation:

Value based pricing is a pricing strategy to set price of products based on value perceived by the purchaser. To have increased profit margin, business deduces the number of benefit the product provides to consumer. Then it establishes price which takes consideration of manufacturing cost, competitive price and consumer's willingness to pay price for the goods.

In the question  mentioned IKEA not only provide functional benefit for the product but also quality, design, and services at low prices hence it is an instance of value based pricing.

7 0
3 years ago
Read 2 more answers
Other questions:
  • he Snella Company reports 2015 Pre-tax Net Income of $10,000. The following items exist:Premiums Paid for Key Officer Life Insur
    8·1 answer
  • Economists use gross national product to measure
    11·1 answer
  • Which is an example of a sport that has low equipment costs?
    14·2 answers
  • Advances in technology are constantly changing how people work and conduct business. true or false
    12·2 answers
  • Hannah Johnson contributed equipment, inventory, and $53,000 cash to the partnership. The equipment had a book value of $25,000
    5·1 answer
  • Explain the monopolist Describe and/or analyze graphically the firm’s profit-maximizing,Break-even, and shut-down conditions Des
    6·1 answer
  • YOU are working with a Professional Edition organization. They wish to install the Expense Tracker which requires the use of 4 c
    13·1 answer
  • Egbert, age sixteen, purchases a $500 video-game system and a $50 computer chair from CompuStore. Egbert changes his mind and wa
    5·1 answer
  • Which of the following is a valid criticism of the use of money as a store of value in modern economies?a. annual inflationary l
    13·1 answer
  • Qd = 600 – 4p – 0.03M – 12 Pr + 5T + 6Pe + 1.5N Where Qd = quantity demanded for commodity A; P = price of commodity A; M = cons
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!