the reviews! also, you should look at how much data it takes up.
Answer:
Net Purchase = $365,000
Cost Of Goods purchased = $382,100
Explanation:
given data
Purchases = $383,500
Purchase Returns and Allowances = $12,100
Purchase Discounts = $6,400
Freight-in = $17,100
to find out
net purchases and cost of goods purchased
solution
we know that Net Purchase is express as
Net Purchase = Purchases - Purchase Discount - Purchase Return and Allowances .........................1
put here value in equation 1 we get
Net Purchase = $383,500 - $6,400 - $12,100
Net Purchase = $365,000
and
Cost Of Goods purchased = Net Purchase + Freight ....................2
so put here value
Cost Of Goods purchased = $365,000 + $17,100
Cost Of Goods purchased = $382,100
Answer:
Yes Mason has recourse
Explanation:
In this scenario Mason bought a rotisserie that did not work as expected. That is it did not rotate as it should thereby causing burning of the chicken.
Even is the seller of the rotisserie did not give a warranty to cover the product, there is an implied warranty that covers the use of goods.
Implied warranty is the minimum requirement expected from the use of a product. For example a.television is expected to come on when in use..
So Mason has a recourse because he is covered by implied warranty.
They all are woody products being made up of wood.
Answer:
The adjusting entry for depreciation on December 31, 2018:
Debit Depreciation expense $7,500
Credit Accumulated depreciation $7,500
Explanation:
The company purchases new equipment on August 1, 2018. At the time of purchase, the equipment is expected to be used in operations 48 months. The company depreciates the equipment evenly over the 48 months ($1,500/month). From August 1, 2018 to December 31, 2018, the equipment is expected to be used for 5 months.
Depreciation expense for 2018 = $1,500 x 5 = $7,500
The adjusting entry for depreciation on December 31, 2018:
Debit Depreciation expense $7,500
Credit Accumulated depreciation $7,500
