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2 years ago

Journalize the following merchandise transactions. The company uses the perpetual inventory system.

Business

1 answer:

aliya0001 [1]2 years ago

5 0

Answer:

Accounts Receivable $17,300 (debit)

Cost of Goods Sold $12,600 (debit)

Sales Revenue $17,300 (credit)

Inventory $12,600 (credit)

Cash $15,916 (debit)

Accounts Receivable $15,916 (credit)

Explanation:

The Perpetual Inventory system records the cost of inventory after every sale.

a. Sale of Sold merchandise on account

Recognize the Revenue and Cost of Sale as follows :

Accounts Receivable $17,300 (debit)

Sales Revenue $17,300 (credit)

Cost of Sales $12,600 (debit)

Merchandise $12,600 (credit)

b.Received payment within the discount period

Recognize the Cash receipts to the extend of amount paid less cash discount of 2%

Cash $15,916 (debit)

Accounts Receivable $15,916 (credit)

Cash Receipt = $17,300 × 92% = $15,916

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Answer:

The correct answer is: the planning fallacy.

Explanation:

The planning fallacy is the paradox referring to projecting the length it will take to accomplish an objective longer than what it could take. The mistaken assumption happens because individuals tend to compare the time it will take them to reach their objectives with the time it took others to achieve the same goals.

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2 years ago

Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the followin

ANEK [815]

Answer:

Budgeted Income Statement for the year

Sales (820 units × $ 2,130) $1,746,600

Less Cost of Sales (820 units × $ 1,500) ($1,230,000)

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Net Income / (Loss) $25,500

Explanation:

Income Statement shows the company`s performance from its operations.

Income / (Loss) = Sales - Expenses.

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3 years ago

The following is an extension economy of scale

ValentinkaMS [17]

The example of an extension economy of scale is Bulk buying.

Explanation:

economies of scale are the main cost whose advantages are for the enterprises that obtain due to their scale of operation, which is measured by the amount of output produced by the company with cost per unit of output resulting in decreasing with increasing scale.

Economies of scale apply to a vast variety of organizational and business situations and at multiple areas, such as a production, the plant or an entire enterprise.

Another source of scale economies is the possibility of purchasing inputs at a lower cost per unit, when they are purchased in large quantities.

Managerial economies of scale occur when large firms are able to afford specialists. They manage i an effective manner, particular areas of the company.

Economies of Scale refer to the cost advantage that us experienced by a firm when it increases its level of output.
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3 years ago

At January 1, 2019, Deer Corp. has beginning inventory of 2,000 surfboards. Deer estimates it will sell 10,000 units during the

coldgirl [10]

Answer:

The correct answer is $1,881,600

Explanation:

According to the scenario, the computation of the given data are as follows:

Unit sells = 10,000 units

Growth rate = 12%

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Costing = $100 per unit

So, we can calculate the budget sales revenue by using following formula:

Budget sales unit for quarter 3 = (10,000 × 112%) × 112% = 12,544

So, budget sales amount for quarter 3 = 12,544 × $150

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3 years ago

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Explanation:

Provide an outline of the material and how it will be presented.

is the correct answer .

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2 years ago