Answer:
The correct answer is B
Explanation:
The net cost of goods is computed as if the paid in the discounting period:
Net Cost of goods = Inventory cost - (Inventory cost × Discounting percentage)
where
Inventory cost is $9,000
Discounting percentage is 2%
Putting the values above:
Net Cost of goods = $9,000 - ($9,000 × 2%)
Net Cost of goods = $9,000 - $180
Net Cost of goods = $8,280
Therefore, the amount of $8,280 will be paid by the company if paid within the discounting period and avail the discount of $180.
Answer: Company's net capital spending for 2016 = $702,000
Explanation:
Given that,
On December 31, 2015:
Net fixed assets = $1,780,000
On December 31, 2016:
Net fixed assets = $2,150,000
Depreciation expense = $332,000
Therefore,
Company's net capital spending for 2016:
= Ending net assets + Depreciation expense - Beginning net assets
= $2,150,000 + $332,000 - $1,780,000
= $702,000
Answer:
Easy money is a representation of how the Fed can stimulate the economy using monetary policy. The Fed looks to create easy money when it wants to lower unemployment and boost economic growth, but a major side effect of doing so is inflation.
Explanation:
Answer:
Betty Incorporated
Journal Entries:
June 3:
DR Inventory $7,100
CR Accounts Payable (North Inc.) $7,100
To record the purchase of goods on account with terms 2/10, n/30.
June 5:
DR Accounts Payable (North Inc.) $2,600
CR Inventory $2,600
To record the return of goods on account.
June 6:
DR Inventory $2,500
CR Accounts Payable (South Corp.) $2,500
To record the purchase of goods on account with terms 2/10, n/30.
June 11:
DR Accounts Payable (North Inc.) $4,500
CR Cash Account $4,410
CR Cash Discount $90
To record the payment of balance owed to North Inc.
June 22:
DR Accounts Payable (South Corp.) $2,500
CR Cash Account $2,500
To record the payment of balance owed to South Corp.
Explanation:
The trade terms 2/10, n/30 mean that both North Inc. and South Corp. offered 2% cash discounts on amount paid by Betty Incorporated if it could settle its bills within 10 days. The net allowed credit days are 30 days, after which Betty Incorporated could be charged interest for late payment. It did not utilize the discount offered by South Corp. as it paid its bills after 16 days instead of within 10 days as stated in the trade terms.
house remodeling- this job takes an artistic person to be able to envision how to make a home look better and what all it would take to insert their vision in the home they are remodeling
