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USPshnik [31]
2 years ago
11

On April 2, Kelvin sold $40,000 of inventory items on credit with the terms 1/10, net n/30. Payment on $24,000 sales was receive

d on April 8 and the remaining payment on $16,000 sales was received on April 27. Assuming Kelvin uses the gross method of accounting for sales discounts, the entry recorded on April 8 would be: a. Debit to Cash for $23,760 and Sales Discounts for $240 and credit to Accounts Receivable for $24,000. b. Debit to Cash for $23,760 and credit to Accounts Receivable for $23,760. c. Debit to Cash for $24,000 and credit to Accounts Receivable for $24,000. d. Debit to Cash for $24,000 and credit to Sales Discounts Forfeited for $240 and Accounts Receivable for $23,760.
Business
1 answer:
elixir [45]2 years ago
3 0

Answer:

Explanation:

d. debit to Cash for $24,000, credit to Accounts Receivable for $23,760 and credit to Sales Discounts Forfeited for $240.

                                                                         Debit         Credit

Cash                                                    $ 24,000.00  

Accounts Receivable                                               $ 23,760.00

Sales Discount Forfeited (24000*1%)                       $   240.00

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3 years ago
The Lead City factory makes car batteries. The factory opened in 2014, and by the end of the year, they had made 30,000 batterie
dmitriy555 [2]

Answer:

2017:

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2018:

Total variable cost= $800,000

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Explanation:

Giving the following information:

The factory opened in 2014, and by the end of the year, they had made 30,000 batteries for a total cost of $2,500,000. In 2015, they made 40,000 batteries for an additional cost of $200,000.

I will assume that the fixed costs remain constant in both years.

We can calculate the variable cost per unit using the incremental cost.

Variable cost per unit= incremental cost/incremental units

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2017:

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2018:

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6 0
3 years ago
Stock Y has a beta of 1.30 and an expected return of 14.9 percent. Stock Z has a beta of .95 and an expected return of 12.8 perc
Sever21 [200]

Answer:

Stock Y is overvalued and Stock Z is undervalued.

Explanation:

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Answer:

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Answer:

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