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faltersainse [42]
3 years ago
8

Sage Hill, Inc. uses a perpetual inventory system. Its beginning inventory consists of 130 units that cost $210 each. During Aug

ust, the company purchased 215 units at $210 each, returned 6 units for credit, and sold 245 units at $480 each.
Required:
1. Journalize the August transactions.
Business
1 answer:
Mila [183]3 years ago
7 0

Answer:

Sage Hill, Inc.

<em>Perpetual Inventory System</em>

1) Merchandise Inventory   $45150   Dr.

  Accounts Payable/ Cash    $ 45150 Cr

 Purchased 215 units at $210 each $ 210*215 = $45150

2) Accounts Payable $ 1260 Dr

Merchandise Inventory $1260 Cr

Returned 6 units for credit (6*210= 1260)

3) Accounts Receivable (Cash) $ 117600 Dr

Sales  $ 117600 Cr

Sold 245 units at $480 each ( 245*$480= 117600)

Cost Of Goods Sold $51450Dr

Merchandise Inventory $51450Cr

( 245* 210= $51450) The cost of goods sold is recorded at the time of sales under perpetual inventory system.

4) Closing Entry

Sales  $ 117600 Dr

Income Summary  $ 117600 Cr.

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4 years ago
Whats 2/5-3/7= A 1/2 B 5/12 C 14/15 D 29/35​
Ivahew [28]

Find common denominators. What you do to the denominator, you do to the numerator.

(2/5)(7/7) = 14/35

(3/7)(5/5) = 15/35

14/35 - 15/35 = -1/35

If you meant to put addition, then your answer will be D) 29/35.

14/35 + 15/35 = 29/35

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6 0
3 years ago
Read 2 more answers
As a store manager, Liandra has to play the role of negotiator, such as purchasing products at a fair price for her company. As
swat32

Answer:

As a store manager, Liandra has to play the role of negotiator, such as purchasing products at a fair price for her company. As she handles this responsibility, Liandra is playing the decisional role.

Explanation:

A manager is someone who supervises, controls and administers an organization or company. There are different types of managers in an organization. An example is a store manager whose major role is to maintain the overall image of the store. There are different roles that a manager can play in an organization, namely; decisional, disseminator, and leadership. These roles are further explained below;

1. Decisional role

As the name suggests, this is a role where the manager has to make a choice on multiple alternatives. As she handles the responsibility of purchasing products at a fair price, she makes decisions on which products are of quality and which ones have a good price on behalf of her company.

2. Disseminator

A disseminator is a manager in the field of communication charged with the responsibility of passing information about an organization to the employees.

3. Leadership

Leadership can be defined as the role of taking charge in directing people and resources in a certain direction. The role of leadership can be taken by different people as various levels of management.

8 0
3 years ago
A cut in direct taxes on households' income
seraphim [82]

Answer:

d. Shifts the aggregate demand curve to the right​

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A cut in tax on household's income increase the aggregate demand and therefore shifts the aggregate demand curve to the right. When taxes are decreased, income available for making purchases increases, thus, increasing the consumption in the economy.

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3 years ago
Ramiro Company purchased 40% of the outstanding stock of Marco Company on January 1. Marco reported net income of $90,500 and de
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Answer:

$27,600

Explanation:

A. To record equity income

Dr Investment in macro $36,200

Cr Equity income from macro $36,200

(40%×90,500= 36,200)

B.To record cash dividend

Dr Cash $8,600

Cr Investment in macro $8,600

(40%×21,500=8,600)

Therefore:

Increased in investment- macro company stock

$36,200-$8,600= $27,600

7 0
3 years ago
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