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Nataliya [291]
3 years ago
14

March 1, 2014 Cardullo's purchased an order of German chocolate from a supplier for $250, but didn't pay cash for the order unti

l March 31, 2014. How would you record this transaction at the time of the purch
Business
1 answer:
PilotLPTM [1.2K]3 years ago
4 0

Answer:

Dr Inventory Purchases $250

Cr Trade Payables              $250

Explanation:

At the time of the purchase, Inventory purchases which is an asset in nature has been increased and hence must be debited by $250 and similarly the Payable has been increased which is liability in nature and hence must be credited with $250. The entry would be as under:

Dr Inventory Purchases $250

Cr Trade Payables              $250

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8 0
3 years ago
A woman purchased a new refrigerator from an appliance store. Two weeks later, she sold the refrigerator to her son, who had jus
Phantasy [73]

Answer: The court shouldn't grant either of them motion, due to the fact that the jury must determine whether the damage was due to the technician's installation of the improper cooling panel.

Explanation:

Based on the information given and assuming that both parties have moved for a directed verdict, then the court should not grant either of the motions.

The court shouldn't grant either of them motion, due to the fact that the jury must determine whether the damage was due to the technician's installation of the improper cooling panel.

6 0
3 years ago
Of the world's population of 7.5 billion people, _________ are scraping by on incomes that average less than $2 per day.
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1.1 billion? According to unicef 3 billion earn less than $2.50 so this seems like the appropriate answer.
3 0
3 years ago
Cookies by casey has sales of $487,000 with costs of $263,000. interest expense is $26,000 and depreciation is $42,000. the tax
Ber [7]

The net income of Cookies by casey is $123,240

What is net income?

The net income of the company is the excess of its sales revenue over all costs of the running the business, which includes, the costs of sale, interest expense, depreciation as well as the taxes payable to the government authority which is 21% of profits before tax in this case.

Profit before tax=sales-costs of sale-depreciation-interest expense

sales=$487,000

costs of sale=$263,000

depreciation=$42,000

interest expense=$26,000

profit before tax=$487,000-$263,000-$42,000-$26,000

profit before tax=$156,000

tax rate=21%

net income=profit before tax*(1-tax rate)

net income=$156,000*(1-21%)

net income=$123,240

Find out more about net income on:https://brainly.ph/question/2444259

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8 0
1 year ago
The price of a basket of goods is $2000 in the U.S. If purchasing power parity holds, and the dollar buys two units of some coun
Eva8 [605]

Answer:

4000

Explanation:

Calculation to determine how many units of foreign currency does the same basket of goods cost in that country

Based on the information given we were told that the PRICE OF A BASKET OF GOODS is the amount of $2000 in which the dollar buys TWO UNITS of some country’s currency, now let determine HOW MANY UNITS of foreign currency does the same basket of goods cost in that country

Using this formula

Units of foreign currency=Basket of goods price*Some country’s currency units

Let plug in the formula

Units of foreign currency=$2,000* 2 units

Units of foreign currency=4,000 units

Therefore the number of units of foreign currency that the same basket of goods cost in that country is 4,000

The price of a basket of goods is $2000 in the U.S. If purchasing power parity holds, and the dollar buys two units of some country’s currency, then how many units of foreign currency does

7 0
3 years ago
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