Answer:
Dr. Cash $2,842
Dr. Discount Expense $58
Cr. Account Receivable $2,900
Explanation:
Terms 2/10, n/30 means there is a discount of 2% is available on payment of due amount within discount period of 10 days after sale with net credit period of 30 days.
Sales = $3,700
Returns = $800
Amount Due = $3,700 - $800 = $2,900
As the payment is made within discount period, so discount will be availed
Discount = $2,900 x 2% = $58
Cash Paid = $2,900 - $58 = $2,842
Answer:
B
Explanation:
We are to find the present value of the annuity
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow each year from year 1 to 10 = $4,800
I = 5%
Present value = 37,064.16
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
Answer and Explanation:
Protectionist policies followed by the government will lead to lack of competition for domestic firms in the market. When there is lack of competition for domestic firms in the market, this will make the firms inefficient in the long run in the country which has imposed protectionist policies. When the firms become inefficient, there will be less job creation in the jobs market and demand for labor will also reduce because of fall in profits of the firm. When profits fall, the firms will not be interested in providing safe working conditions to its employees because it will increase their cost of production reducing profits further. Thus, protectionist policies can lead to fewer jobs, lower wages or poor working conditions for the firm.
An employee's profit share depends on the company's operating profit for the year.
<h3>What is a profit-sharing plan?</h3>
A profit sharing plan is a form of retirement plan where the employer contributes a percentage of the company's profits to employee retirement accounts. The contributions are usually determined by the company's profit margin and the number of years that each person has worked for the company. The sum of money that is added to the employee's account is typically decided by the employer and might range from a few percent to a set sum of money. The donations are typically placed in stocks, bonds, and mutual funds.
To know more about profit-sharing arrangement visit:
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