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Kryger [21]
3 years ago
9

Thyimach, a machinery manufacturing company, has been purchasing iron shafts from metaljun, a supplier of iron and steel materia

ls, for over a decade. When thyimach designs new models of machinery, metaljun manufactures shafts with new specifications without asking for advance payments. Thyimach, in turn, uses only metaljun's materials to manufacture its machinery. In the context of the supplier component of a specific environment, this scenario best illustrates _____ between thyimach and metaljun.
Business
1 answer:
Savatey [412]3 years ago
4 0

Answer: Relationship Behavior

Explanation: Thyimach, has been purchasing iron shafts from Metaljun for over a decade. There is a relationship of buyer and supplier developed among both of them. When Thyimach designs new model of machine Metaljun provides with new specification without informing Thyimach and Thyimach uses Metajun's supplies only. So this is a case of relationship behavior. Since the relationship was strong, Thyimach also didn't mind using the product and Metaljun knew it wouldn't be a loss for him.

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The inventories of Berry Company for the years 2016 and 2017 are as follows: Cost Market January 1, 2016 $10,000 $10,000 Decembe
Hitman42 [59]

Answer:

Direct method:

December 2016:

Dr     costs of sale              $1,500

Cr     inventory                                    $1,500

to record the reduction in value of inventory

December 2017

Dr     costs of sale              $1,000

Cr     inventory                                    $1,000

to record the reduction in value of inventory

indirect method:

December 2016:

Dr    inventory allowance expense            $1,500

Cr    provision for inventory  allowance                       $1,500

to record the reduction in value of inventory

December 2017:

Dr    inventory allowance expense            $1,000

Cr    provision for inventory  allowance                       $1,000

to record the reduction in value of inventory

Explanation:

Under the direct method of inventory valuation,the reduction in inventory value is debited directly to costs of sale and credited to inventory in order to write down inventory to lower of cost and market value

The loss on inventory valuation in December 2016 is $1500($13,000-11,500) the amount by which cost is higher than market value.

The loss on inventory valuation in December 2017 is $1000($15,000-14000) the amount by which cost is higher than market value.

However, under the indirect method,the diminution in value of inventory is credited to  allowance provision account in the balance sheet and debited to allowance expense account in the income statement

6 0
3 years ago
A full account of an event or series of events, usually told in chronological order, is called a:_______
sladkih [1.3K]

It's known as a story.

<h3>How Do Stories Work?</h3>

A story or narrative is a related series of events that is conveyed by language, including written or spoken words, images, both still and moving, body language, performance art, and music. In a narrative, any subject, genre, or style can be covered, and the events might be real or made up. Nonfiction and fiction can both be included in stories. There are stories to be told about everything that has ever happened, will ever happen, and will ever be. No matter the subject or the era, whenever you describe a series of events to someone, you are telling a tale.

Consequently, a tale is a comprehensive account of an event or series of events that is often told in chronological order.

<u></u>

For more information on the story, refer to the following link:

brainly.com/question/9148951

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7 0
1 year ago
The model and concepts used to develop the economics of __ are similar to those used to illustrate the effects of:
zhuklara [117]

Answer:international trade: trade between individuals

Explanation:

I got it right

8 0
2 years ago
If goods in transit are shipped FOB destination
AleksandrR [38]

Answer:

b. the seller has legal title to the goods until they are delivered.

Explanation:

When the goods are in the transit and are shipped FOB destination, the title of the goods would be with the seller. If the goods are delivered, then the legal title would be transferred from the seller to the buyer. Until the goods are in transit, the legal title is with the seller itself.  

Both the parties are eligible for the legal title. It can be either a buyer or seller depending upon the situations

Hence, the correct option is b and the rest options are wrong

5 0
3 years ago
Cave Hardware's forecasted sales for April; May; June; and July are $ 170,000; $ 230,000; $ 190,000; and $ 260,000; respectively
PIT_PIT [208]

Answer:

accounts payable 128,500

Explanation:

To answer we must determine how much is the amount of purchases needed for the month of June.

It is not interesting the debt that is generated in previous months since they are paid in full, so in May the purchases of the month of May will already be canceled, so they will not impact the suppliers account.

June  

Purchases=  190,000 x 0.85 + (inventory cost of sales of the month) + 80,000 (inventory at the end of the month)  + 260,000 x 10% (inventory at the end of the month) = 276,500,

But according to the company's policy at the beginning of the month the inventory was equal to

80,000 + 190,000x10% (June sales) = 99,000

So the purchases necessary to meet the costs of sale and comply with the policy of the owner at closing is the same

267.500(inventory needed) - 99.000( initial existence) = 168.500

<u>the record will be </u>

Inventory      168,500

Cash                           43,810

accounts paylable    124,690

6 0
3 years ago
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