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rewona [7]
2 years ago
15

VLC Corporation sold merchandise with a cost of $200 on account for $300 to PRT Corporation; credit terms were 2 / 10, n / 30. V

LC paid the outgoing freight charge of $10. PRT paid the invoice within the discount period.The entries in VLC's accounting information system to record all the preceding events will include all of the following except:
A. A debit to cost of goods sold
B. A debit to delivery expense
C. A credit togross profit
D. A credit to inventory
Business
1 answer:
tatyana61 [14]2 years ago
3 0

Answer:

  • The entries in VLC's accounting information system to record all the preceding events will include all of the following except:

C. A credit togross profit

Explanation:

An entry to Gross Profit does not exist because the gross profit it's the result of the total sales minus the Cost of Goods, so the Gross Profit it's a result and not a journal entry.

The other entries are used as follows:

A. A debit to cost of goods sold

D. A credit to inventory

B. A debit to delivery expense

A credit to Cash

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An increase in the price of gasoline will reduce the amount of gasoline purchased. This is
nekit [7.7K]

Answer:

<h2>In this case,the answer is option is B. or a positive economic statement.</h2>

Explanation:

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3 years ago
An internet company gives their old computer system to the computer science
Elanso [62]

Answer:

Explanation:

The formula for GDP is

GDP = C + I + G + NX

C = consumption

I  = Investment by business and household purchases by individuals

G = Government  Expenditures

NX = foreign trade.

The first thing you can do is knock out foreign trade.

I think you can dispense with Government expenditures as well all though a school is an arm of government.

I think investment is what you have to look at carefully because it does include charitable organizations.  We'll come back to this.

Consumption is what it sounds like it sounds.

You can't answer this in any other way than to know how the company writes it off. It is an asset that goes from some value to 0. It no longer exists on their books. So it decreases their assets. It is balanced on their books by calling it an expense I think and that further has impact on their books.

So they are decreasing their value (albeit by a small amount -- they've already bought new computers).

I'm not sure about this, but I think what has happened is that the GDP is going to go down. Their investment has decreased by being written off.

8 0
2 years ago
Last year both a borrower and a lender expected an inflation rate of 3 percent when they signed a long-term loan agreement with
valentina_108 [34]

Answer:

B. The lender would benefit.

Explanation:

Based on the information provided within the question it can be said that in this scenario the one who would benefit from a lower inflation rate would be the lender. That is because by there being a lower inflation rate it means that the money that the borrower needs to pay back the loan does not have the buying power he predicted it would have when he borrowed it. Meaning that he would need to pay more money to the lender than originally anticipated.

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Answer:

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3. Bob, a minor, contracted with Pioneer Temporary Staffing Agency, LLC, an employment agency, for the agency to find a job for
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