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jolli1 [7]
3 years ago
9

Whispering Winds Corp. purchased merchandise inventory with an invoice price of $11700 and credit terms of 2/10, n/30. What is t

he net cost of the goods if Whispering Winds Corp. pays within the discount period?
Business
1 answer:
Tcecarenko [31]3 years ago
4 0

Answer:

the net cost = 11,466

Explanation:

To following journal entry is done to record the purchase, credit terms 2/10, n/30:

Dr Merchandise inventory 11,700

    Cr Accounts payable 11,700

If the company pays within the discount period (10 days):

Dr Accounts payable 11,700

    Cr Cash 11,466

    Cr Purchase discounts 234

net cost of goods = $11,700 x 98% = $11,466

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Find out more on Board of Directors at brainly.com/question/728335.

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2 years ago
If I was gonna be a business person what would I be and why?
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peter druker and write about him and the stuff he did write that he is the person u look up for

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3 years ago
Ziva is an organic brocolli farmer, but she also spends part of her day as a professional organizing consultant. As a consultant
Rudiy27

Answer:

$790

Explanation:

<em>$300 --- ($40 * 9 hours) + 130</em>

<em>Add </em>

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<em>Then, multiply </em>

<em>40 and 9</em>

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6 0
3 years ago
Due to ____, market forces should realign the relationship between the interest rate differential of two currencies and the forw
xxTIMURxx [149]

Answer:

Covered Interest Arbitrage

Explanation:

The Covered Interest Arbitrage is a term that refers to arbitrage trading approach in which a stockholder take the chance to gain advantage from the disparity in interest rate between two nations.

The trading strategy helps in its verifiability, quantifiability, consistency, and objectivity

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6 0
3 years ago
Read 2 more answers
Michael Barry, Attorney, P.C. began the year with total assets of $126,000, liabilities of $74,000, and stockholders’ equity of
goldenfox [79]

Answer:

The expenses can be recorded as follows;

Debit to the expenses of $33,000 and a credit to the cash account of $33,000.

Explanation:

The accounting equation is an equation that tends to balance a company's assets on one side and the sum of its liabilities and shareholders equity on the opposite side of the equation. It form the basis for the double-entry system in accounting that includes an accounts debit and credit. The debit is a sum to an amount that is owed, it is usually listed on the left hand-side of an account while the credit is a listing of a sum that is received usually on the right hand side of an account.

In the case of Michael Barry, the accounting equation;

Assets=liabilities+stockholders equity

Assets=$126,000

Liabilities=$74,000

Stockholders equity=$52,000

liabilities+stockholders equity=74,000+52,000=$126,000

The assets equals the sum of the liabilities and stockholders equity.

To record expenses paid of $33,000;

                            Debit           Credit

Expenses          $33,000

Cash                                       $33,000

3 0
4 years ago
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