Since the company is following a periodic inventory system, it has to use temporary accounts to record sales and purchases.
Transaction A
Purchases – Dr 860500
Accounts payable 860500
Transaction B
Accounts payable - Dr $111,600
Purchase returns $111,600
Transaction C
Accounts payable - Dr 748900
Discount received 14,978
Cash 733,922
Answer:
Explanation:
The following would be a good way to end an interview.
It has been very interesting learning how the company works and the different tasks involved with the position. I would be very excited to get a chance to contribute to the team. Is there any other additional information or documentation that you will need from me? If so I would be glad to get it for you for our next meeting.
This ending would show your interest in the job and courteously set up further interactions.
Answer:
a. in the general ledger
Explanation:
When preparing the retained earnings statement, the beginning retained earnings balance can always be found in the general ledger.
Answer:
See below
Explanation:
Business refers to the practice of producing or purchasing goods and services for sale to make a profit. It is the act of engaging in commercial activities of buying and selling products and services for profits.
Business entails individuals and companies' activities of supplying desired products and services to customers with profit motives. A businessperson identifies a need in the community. He or she sells to the community goods or services that satisfy that need a higher price to make a profit.
Answer:
d. 1.38
Explanation:
The computation of potential investment's profitability index is shown below:-
As we know that
Profitability index (PI) = PV of future cash flows ÷ Initial investment
Now
NPV = Present value of future cash flows - initial investment
$36,224 = Present value of future cash flows - $95,000
Present value of future cash flows = $36,224 + $95,000
= $131,224
So,
Profitability index = Present value of future cash flows ÷ Initial investment
= $131,224 ÷ $95,000
= 1.38
Therefore we have applied the above formula.
