Answer:
Betty Incorporated
Journal Entries:
June 3:
DR Inventory $7,100
CR Accounts Payable (North Inc.) $7,100
To record the purchase of goods on account with terms 2/10, n/30.
June 5:
DR Accounts Payable (North Inc.) $2,600
CR Inventory $2,600
To record the return of goods on account.
June 6:
DR Inventory $2,500
CR Accounts Payable (South Corp.) $2,500
To record the purchase of goods on account with terms 2/10, n/30.
June 11:
DR Accounts Payable (North Inc.) $4,500
CR Cash Account $4,410
CR Cash Discount $90
To record the payment of balance owed to North Inc.
June 22:
DR Accounts Payable (South Corp.) $2,500
CR Cash Account $2,500
To record the payment of balance owed to South Corp.
Explanation:
The trade terms 2/10, n/30 mean that both North Inc. and South Corp. offered 2% cash discounts on amount paid by Betty Incorporated if it could settle its bills within 10 days. The net allowed credit days are 30 days, after which Betty Incorporated could be charged interest for late payment. It did not utilize the discount offered by South Corp. as it paid its bills after 16 days instead of within 10 days as stated in the trade terms.
Answer:
The earnings foregone by skipping the two tournaments on the PGA tour is cost of opportunity
Explanation: The cost of opportunity of an economic decision that has several alternatives is the value of the best unrealized option. In other words, it refers to what a business stops earning, when choosing an alternative among several available. In this case are the prizes the golf player lost for not playing the tournments.
Answer:
b. It reduces productivity and revenue growth.
Explanation:
The disadvantage of outsourcing is that it reduces productivity and revenue growth. Due to outsourcing, the company ceases to produce a product in its own facility and gives the entire production responsibility to third party. This is because the company might not have the capability to produce on its own or it might be costly for the company.
Since the company has to give production cost, over runs, labour cost etc along with margins to the third party, hence there is a decrease in revenue growth and productivity of the company.
Answer:
were is tha picture i can answer that if don't have pictures
Answer:
See below
Explanation:
Given the above information,
Direct material price variance is computed as;
= (Actual price - Standard price) × Actual quantity
Actual price = $436,800/208,000
Standard price = $436,800/182,000
Actual quantity = 208,000
Direct material price variance
=[ ($436,800 / 208,000) - ($436,800 / 182,000 ] × 208,000
= ($2.1 - $2.4) × 208,000
= $62,400 unfavourable
