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
mr Goodwill [35]
2 years ago
12

Describe good cash management practices involving inventory purchases. (Check all that apply.) Multiple select question. Buyers

should take advantage of early payment discounts. Inventory should be purchased with cash whenever possible. Invoices should be paid on the last day of the discount period. Invoices should be paid on the first day of the discount period.
Business
1 answer:
Goshia [24]2 years ago
7 0

Answer:

Invoices should be paid on the last day of the discount period.

Buyers should take advantage of early payment discounts.

Explanation:

Cash management can be regarded as

process involvinh collection and management of cash flows. Cash management is very crucial for individuals as well as companies as far as financial stability is concerned. It should be noted that good cash management practices involving inventory purchases;

✓Invoices should be paid on the last day of the discount period.

✓Buyers should take advantage of early payment discounts.

You might be interested in
Ch.11 what are the four characteristics used to classify​ retailers?
Studentka2010 [4]
<span>There are four characteristics used to classify each retailer. These are used to satisfy each and every customer's needs. The first one is the type of merchandise they sell. Second is the level and type of customer service given. This is the type of merchandise sold at the retail store. The last characteristic is the price of the merchandise being sold at the retailer.</span>
7 0
3 years ago
Read 2 more answers
Arena Corp. leased equipment from Bolton Corp. and correctly classified the lease as a finance lease. The present value of the m
nadya68 [22]

Answer:

$1,000,000

Explanation:

The Amount to be reported as  lease liability must <em>depict </em>the present value of future cash outflows required to be paid as the entity enjoys its <em>right to use the asset</em>.

Thus, the present value of the minimum lease payments at lease inception was $1,000,000 represents the amount of lease liability.

8 0
3 years ago
Joe quits his computer programming​ job, where he was earning a salary of ​$65,000 per​ year, to start his own computer software
Verizon [17]

Answer:

The accounting cost and the economic cost associated with​ Joe's computer software business is $75,00 and the $165,000 respectively.

Explanation:

The computation of the accounting cost and the economic cost is shown below:

Accounting cost =  Other Expenses + Salary paid to himself

                           = $35000 + $40,000

                           = $75,000

Economic cost = Accounting cost + Salary expense + Rent expenses

                        = $75,000 + $65,000 + $25,000

                        = $165,000

8 0
3 years ago
Havermill Co. establishes a $250 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei
allochka39001 [22]

Answer:

e. Debit Petty Cash $50       Credit Cash  $ 50

Explanation:

The entry on October 01 is to reflect the increase in Petty Cash from $ 250 to $ 300. i.e the incremental effect is only $ 50. This is because for the regular replenishment that was done on September 30, the following entry would have been recorded:

Petty Cash - Debit   $ 232

Cash          - Credit   $ 232

The entry for recording the petty cash expenses would be as follows;

Office Supplies expense         debit    $ 73

Merchandise Inventory           debit     $ 137

Miscellaneous expenses        debit      $ 22

Petty Cash                               credit     $ 232

7 0
3 years ago
Using the percentage of receivables method for recording bad debt expense, estimated uncollectible accounts are $11,000. If the
frosja888 [35]

Answer:

Adjustment balance will be $13800

Explanation:

We have given estimated uncollectible accounts are $11,000

And doubtful account is $2800

We have to find the balance after adjustment

Balance after adjustment will be sum of uncollectible accounts and doubtful account

So the adjustment balance will be equal to $11000 + $2800 = $13800

So the adjustment balance will be $13800

8 0
3 years ago
Other questions:
  • A broker-dealer tells a customer that it is willing to buy a stock at $20 and is willing to sell that same stock at $21. this is
    13·1 answer
  • The __________ is the system of relationships that develop spontaneously as employees meet and form power centers.
    11·1 answer
  • A key reason that actively managed funds have lower returns than index funds with a similar level of risk is that:
    11·1 answer
  • If a local bank decides to convert some of its U.S. Treasury securities into cash, which it will hold in its vault, reserves wil
    7·1 answer
  • What are also known as restrictive covenants or Covenants, Conditions and Restrictions and are constraints that run with the lan
    14·1 answer
  • Pilgrim Company applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under
    8·1 answer
  • For purposes of determining gross income, which of the following is true?a. A mechanic completed repairs on an automobile during
    12·1 answer
  • Sushi corp. purchased and installed electronic payment equipment at its drive-in restaurants in san marcos, tx, at a cost of $51
    15·1 answer
  • The following transactions occurred during the month of June 2021 for the Stridewell Corporation. The company owns and operates
    15·1 answer
  • What’s the answer???
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!