1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
IgorLugansk [536]
3 years ago
15

Purchased goods for $4,100 from Diamond Inc. with terms 2/10, n/30. 5 Returned goods costing $1,100 to Diamond Inc. for credit o

n account. 6 Purchased goods from Club Corp. for $1,000 with terms 2/10, n/30. 11 Paid the balance owed to Diamond Inc. 22 Paid Club Corp. in full. Required: Assume that Ace uses a perpetual inventory system and that the company had no inventory on hand at the beginning of the month. Calculate the cost of inventory as of June 30.
Business
1 answer:
bazaltina [42]3 years ago
4 0

Answer: $3,940

Explanation:

Purchase from Diamond

The company received a discount of 2% because they paid within 10 days as per the terms of the sale.

Cost of inventory from Diamond:

= (Cost of goods - Returns) * (1 - 2%)

= (4,100 - 1,100) * 98%

= $2,940

Purchase from Club

Discount period expired so the full $1,000 is paid.

Total inventory cost:

= 2,940 + 1,000

= $3,940

You might be interested in
Anna wants to take seven days off from her job as an accountant to observe a religious holy week. Her employer is reluctant to a
dimaraw [331]

Answer: They must grant the leave only if it amounts to a reasonable accommodation

Explanation:

Based on the information given in the question, they must grant the leave only if it amounts to a reasonable accommodation.

A reasonable accommodation refers to an adjustment that is made in a system in order to accommodate the system for an individual due to the fact that there is a proven need. Such accommodations can be mental, physical, religious, academic or emotionally related.

4 0
3 years ago
joan made deductible contributions to traditional retirement accounts for several years. in 2018 she decided to withdraw $10,000
lukranit [14]

Answer:

Joan will pay income tax on the $10,000 she withdrew in 2018.

Explanation:

When withdrawing from traditional retirement account, the following rules apply:

1. Withdrawals before attaining the age of 59.5 years attract a penalty of 10%, along with income tax on the amount withdrawn.

2. Withdrawals after the age of 59.5 years are treated as income, so income tax is paid on it. In this case tax on the $10,000 withdrawn.

3. At age 70.5 and above you must take the Required Minimum Distribution (RMD) from the pension account.

Note: Roth IRA does not attract tax payments for ages 59.5 years and above, unlike traditional IRA that attracts income tax.

RMD payments does not apply for Roth IRA.

4 0
3 years ago
In recent years, foreign firms were reluctant to merge with or acquire American corporations.a. Trueb. False
dangina [55]

Answer:

b. False

Explanation:

Merging or acquiring American corporations by foreign firms helps them consolidating businesses or assets with a view to increasing productivity, maintaining a competitive edge, growing market share, or controlling supply and distribution networks. It gives them a reputation at the international stage as the United States has a dominant capitalist stand and merging with it ensures a promising future in the business market.

8 0
3 years ago
Wember Catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The
hodyreva [135]

Answer:

$3,515

Explanation:

The computation of the catering supplies is shown below:

= Catering supplies per month + per job cost  × expected number of jobs + per meal cost  × expected number of meals

= $350 + $89 × 21 jobs + $9 × 144 meals

= $350 + $1,869 + $1,296

= $3,515

Since the question is asking for planning budget so we considered the expected units in terms of jobs and meals

8 0
3 years ago
Question 9 of 25 : What does unity of command mean?
kari74 [83]
<u />Unity of command is a principle wherein no subordinate in an organization reports to more than one boss.

Each department in a company has only one boss. Every boss of the department reports to one higher authority, and so on.

This is to avoid confusion among subordinates and to ensure that the authority of the boss is not diminish by the authority of another boss. 
7 0
3 years ago
Other questions:
  • Which of the following is NOT one of the three factors of production?
    12·2 answers
  • Explain the following statement: Marketing is more than just promotion.
    5·2 answers
  • The person who acquires real property under the terms of a will is known as a ___________.
    11·1 answer
  • ________ is the amount an employee earns before payroll withholding is performed.
    10·2 answers
  • Suppose that you want to construct a 2-year maturity forward loan commencing in 3 years. The face value of each bond is $1,000.
    14·1 answer
  • Michael is a senior in high school and wants to major in a business-related class when he goes to college. Michael plans to sele
    6·1 answer
  • A company has developed a new smart clock. If the clock is successful, the present value of the payoff (at the time the product
    15·1 answer
  • What are the 3 Levels of Management?:​
    15·1 answer
  • If you have $600 and you find an investment that annually yields 3%, how much interest would you earn in 15 years?
    15·1 answer
  • If you do have your license: how can you continue your driving improvement?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!