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Korolek [52]
2 years ago
14

Emerald Co. uses a perpetual inventory system and records purchases of merchandise at net cost. The company recently purchased 2

80 compact discs at an invoice price of $4,600 and terms of 3/10, n/30. Half of these discs had been mislabeled and were returned immediately to the supplier. The journal entry to record payment of this invoice after the discount period has expired will include a:________.
A. Debit to Inventory for $3,200.
B. Credit to Cash for $3,200.
C. Debit to an expense account for $96.
Business
1 answer:
Aneli [31]2 years ago
3 0

Answer:

Dr accounts payable   $2,300

Cr cash                                      $2300

Explanation:

Initially the cost of the purchases=$4600

Returning half of the disc means the left for the discs actually bought is half of the invoice price of $4600 i.e $2,300

By not paying within the discount period implies that the debt stands at $2,300

Without mincing words,payment of $2,300 to the supplier automatically translates to debiting account payable with $2,300 and crediting cash account with the same amount.

The correct answer would :

Dr accounts payable   $2,300

Cr cash                                      $2300

This is missing from the options provided.

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Under the sales comparison approach to valuation, a subject property has 3 bedrooms, two bathrooms and is on a golf course. The
kondaur [170]

Answer:

The subject property should be valued at $760,000

Explanation:

Sales comparison approach to valuation in real estate values properties by comparing their similar characteristics, and the features are priced. The total value of a property is thus the addition of all features.

In the instance given, both properties have 3 bedrooms and 2 bathrooms and so using comparison theses features are equally priced at $690,000.

So the property with the golf course will have $690,000 added to the value of the golf course ($70,000).

That is $760,000.

8 0
3 years ago
can yall plz help me with this science qustion the choses are masses,shapes,and sizes ....also ill give brainlest
bazaltina [42]

Answer:

the answer is the mass.

4 0
2 years ago
Read 2 more answers
Kevin bought 265 shares of Intel stock on January 1, 2019, for $76 per share, with a brokerage fee of $165. Then, Kevin sells al
garri49 [273]

Answer:

$2800

Explanation:

To find the Gain or loss on the sell of shares we jus need to deduct cost of purchasing and brokerage fee from sale proceeds

12 DECEMBER 2019

Gain/loss = Sales proceeds- Total Cost to purchase - Cost to sell

Gain/loss= ($88 x 265) - $20,305 - $215

Gain/loss= $23,320 - $20,305 - $215

Gain/loss= $2800

WORKINGS

Purchase 1 Jan 2019

265shares x $76per share =  $20,140

Total cost to purchase = $20,140 + $165(brokerage fee)

Total cost to purchase =  $20,305

Cost to sell = $215(brokerage fee)

3 0
3 years ago
Lake stevens marina has estimated that fixed costs per month are $350,000 and variable cost per dollar of sales is $0.30.
Leni [432]

$500,000

Break even =(fixed costs - contribution margin)

Contribution margin is Price of item- variable costs ($1- 30 cents/per item=.7)

$350,000/.7 = $500,000

4 0
3 years ago
Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company
Monica [59]

Answer:

$91

Explanation:

Given the following information,

Direct materials per unit = $54

Direct labor per unit = $20

Variable overhead per unit = $6

Fixed overhead for the year = $462,000

For Absorption costing method, it includes all costs associated with production, including fixed and variable cost. The unit product cost is calculated using direct material, direct labor and total unitary manufacturing overhead.

Unitary cost = (Fixed overhead for the year / Units produced) + Direct materials per unit + Direct labor per unit + Variable overhead per unit

Unitary cost = ($462,000 / 42,000) + $54 + $20 + $6

Unitary cost = $11 + $54 + $20 + $6

Unitary cost = $91

Therefore, the product cost per unit is $91

5 0
3 years ago
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