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
Liono4ka [1.6K]
2 years ago
11

Gummy Co. purchased merchandise on June 10 at a $9,000 invoice price with terms of 2/10,n/30 and paid for the merchandise on Jun

e 30. Illustrate the required entries to record and pay for this purchase under the gross method and net methods by matching the action on the left with the method on the right. (Assume a periodic inventory system is used.)
Business
1 answer:
Olenka [21]2 years ago
6 0

Answer:

June 10

Debit Purchases for $9,000: Gross method

June 30

Debit Discounts lost for $180: Net method

June 30

Credit Cash for $9,000 : Both methods

Explanation:

To Illustrate the required journal entries to record and pay for this purchase under the GROSS METHOD and NET METHODS by matching the action on the left with the method on the right using a PERIODIC INVENTORY SYSTEM.

June 10

Debit Purchases for $9,000: Gross method

June 30

Debit Discounts lost for $180: Net method

(2%*$9,000)

June 30

Credit Cash for $9,000 : Both methods

You might be interested in
Bill owns Jurisprudence Employers, Inc., a legal staffing company and employs George. One day Bill instructed George to falsify
Alenkinab [10]

Answer:

Bill is also equally and somewhere more liable as he is the employer.

Explanation:

Although in records it might seem that George did the falsify act, but for that he required the permission of his employer.

When the fact is clearly stated that George did this on direction of his employer Bill, and that Bill demanded this intentionally in order to present extra profits, he is more liable for this false act.

As George is the employee, he is bound  to follow the directions of his employer. Thus Bill is crucially liable for this act, as he is an important reason for this act.

7 0
3 years ago
.....................................hi
sp2606 [1]

Answer:

Hi!! I hope you are great. Thanks for the pts...

8 0
3 years ago
You have been asked to assist Emerald City in its response to increasing flooding. The National Weather Service (NWS) reports it
Zinaida [17]

Answer: Divide the Operations Section into three Divisions, each assigned to a different geographical area to evacuate.

Explanation:

Since the initial objective is to evacuate residents, therefore, in addition to a Flood Control Group and a Nursing Home Task Force, another organizational structure that can be used to tackle this issue is to divide the Operations Section into three Divisions, each assigned to a different geographical area to evacuate.

Assigning the individuals in each group to s particular area will lead to a faster evacuation and bring about efficiency with regards to the evacuation.

7 0
3 years ago
when choosing clothes for an interview, a good rule of thumb is to dress_the job you are applying for ​
Romashka-Z-Leto [24]

Answer:

accordingliy, or dress to impress

Explanation:

lol

8 0
3 years ago
Read 2 more answers
Which of the following modes of entry is suitable for service firms where the risk of losing control over the management skills
ra1l [238]

Answer: LICENSING

Explanation: Licensing is a business arrangement process whereby an organization or business entity with already existing product and good market prospect allows another company in another country or society to produce it's Products, in return the company licensed to produce the product will pay certain percentage of the Revenue from the sale of the product to the business or organization that issued the License. In this case the company will not face the risk of losing control over the management skills or technological know-how.

3 0
2 years ago
Other questions:
  • Qs 14-2 fixed and variable costs lo c2 a cell phone company offers two different plans. plan a costs $80 per month for unlimited
    11·1 answer
  • The SCOR model looks at a firm’s supply chain activities in three levels of increasing detail. Level 1 views SCM activities as
    5·1 answer
  • What is an important part of taking meeting minutes?
    11·1 answer
  • On January 1, Franz Co. accepted a 30-day, 6% note in the amount of $5,000 from Bria Co., a customer. On January 31, the due dat
    10·1 answer
  • What are five basic principles found in a free enterprise system?
    8·1 answer
  • In the last three quarters of the year, a country's GDP (gross domestic product) level is measured at $12 trillion, $12.5 trilli
    7·1 answer
  • Kela Corporation reports net income of $470,000 that includes depreciation expense of $83,000. Also, cash of $44,000 was borrowe
    14·1 answer
  • A business owner paid cash for employee wages. This activity would be reported on the Statement of Cash Flows as a.as a subtract
    15·1 answer
  • With the standard burger without a bun, the bottom bun items go on the _____ and the top bun items go on the ______
    14·1 answer
  • lo8 - sleazy, inc. was accused of explicit colluding with several other companies because the sleazy directly negotiated pricing
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!