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Leokris [45]
3 years ago
13

Company A sold merchandise with a list price of $4,200 and costing $2,300 on account to Company B.

Business
1 answer:
kompoz [17]3 years ago
7 0

Answer: d. The invoice amount is greater than $3,300 and less than $3,400.

Explanation:

The terms of the sale are FOB destination, 2/10, n/30. This means that company B will get a 2% discount if they pay in 10 days, if not, they will have to pay in 30 days.

The goods were sold at a list price of $4,200.

Company B returned $750 according to the Credit memo from Company A.

This reduces the transaction amount by that credit memo,

= 4,200 - 750

= $3,450

It is stated that Company B paid within the discount period which was 10 days so they get the discount for a total balance of,

= 3,450 * (1 - 2%)

= $3,381

The answer therefore is option D.

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3 0
2 years ago
​________ is the extent to which a selection tool produces consistent results over time.
shusha [124]
This answer would be reliability.
6 0
3 years ago
Auagaa474 Corporation had sales of $491,300 and average operating assets of $289,000 for the past period. What is the margin tha
astra-53 [7]

Answer:

16%

Explanation:

Calculation for the margin that Auagaa474 needed to earn in order to achieve an ROI of 27.2%

First step is to calculate the Turnover using this formula

Turnover = Sales ÷ Average operating assets

Let plug in the formula

Turnover= $491,300 ÷$289,000

Turnover=1.7

Now let calculate the margin using this formula

ROI = Margin × Turnover

Let plug in the formula

27.2% = Margin × 1.7

Margin = 27.2% ÷ 1.70

Margin=0.16*100

Margin= 16%

Therefore the margin that Auagaa474 needed to earn in order to achieve an ROI of 27.2% will be 16%

8 0
3 years ago
Mountain Dental Services is a specialized dental practice whose only service is filling cavities. Mountain has recorded the foll
Ivenika [448]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

The high-low method involves taking the highest level of activity and the lowest level of activity and comparing the total costs at each level.

Mountain has recorded the following for the past nine months:

January:

Number of Cavities= 375

Total cost= $5,300

February:

Number of Cavities  500

TC= 5,850

March

Number of Cavities 350

TC= 5,200

April

Number of Cavities 600

TC=6,250

May

Number of Cavities 325

TC= 5,150

June

Number of Cavities 475

TC= 5,700

July

Number of Cavities 525

TC= 6,100

August

Number of Cavities  575

TC= 6,300

September

Number of Cavities  450

TC= 5,550

A) Variable cost= (Highest activity cost - lowest activity cost) / (Highest activity units - lowest activity units)

Variable cost= (6300 - 5150) / (600 - 325)= 4.18 per unit

Fixed cost= HACost - (variable cost per unit * HAUnits)= 6300 - (4.18*600)= 3792

Fixed cost= LACost - (variable cost per unit* LAUnits)= 5150 - (4.18*325)= 3792

B)  Q= 400

Total cost= 3792 + 4.18*400= $5464

8 0
3 years ago
In 2018, CPS Company changed its method of valuing inventory from the FIFO method to the average cost method. At December 31, 20
MaRussiya [10]

Answer:

Dr Retained earnings $8.2

Cr Inventory $8.2

Explanation:

By changing method of an inventory valuation, the company should apply it retrospectively based on IAS 8 guidelines on change in accounting estimates and errors. Thus, the said difference from FIFO method to Weighted Average method of valuation should be credited directly against Retained earnings account because, accounts are already closed right after the year ended.

$32-$23.8= $8.2 million

To record the said adjustment you have to

Debit Retained earnings and credit Inventory in the amount of $8.2 million.

4 0
3 years ago
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