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oksian1 [2.3K]
2 years ago
10

A company purchased $2,600 of merchandise on July 5 with terms 3/10, n/30. On July 7, it returned $600 worth of merchandise. On

July 12, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on July 12 is:
Business
1 answer:
mamaluj [8]2 years ago
4 0

Answer:

No options presented but the entry below should be right.

$2,600 worth of merchandise was purchased but $600 was returned so Net accounts receivable:

= 2,600 - 600

= $2,000

Company paid the full amount on July 12 which is within the 10 days required for a discount so they get a 3% discount:

= 2,000 * ( 1 - 3%)

= $‭1,940‬

Date               Account details                                     Debit               Credit

July 12           Accounts Payable                               $2,000

                      Cash                                                                               $1,940

                      Merchandise inventory                                                    $60

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Darina [25.2K]

Answer: Substitute

Explanation:

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It should be noted that when the price of a good increase, people move to the substitute and this will being about the rise in the quantity demanded of the other good.

Therefore, as the price of good X rises from $10 to $12, the quantity demanded of good Y rises from 100 units to 114 units shows that the are substitutes.

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2 years ago
What type of crime measurements collects data from those who break the law
Rashid [163]
<span>National Crime Victimization Survey,Have an wonderful day!
</span>National Crime Victimization Survey Resource GuideAbout NCVS

The National Crime Victimization Survey (NCVS) series, previously called the National Crime Survey (NCS), has been collecting data on personal and household victimization since 1973. An ongoing survey of a nationally representative sample of residential addresses, the NCVS is the primary source of information on the characteristics of criminal victimization and on the number and types of crimes not reported to law enforcement authorities. It provides the largest national forum for victims to describe the impact of crime and characteristics of violent offenders. Twice each year, data are obtained from a nationally representative sample of roughly 49,000 households comprising about 100,000 persons on the frequency, characteristics, and consequences of criminal victimization in the United States. The survey is administered by the U.S. Census Bureau (under the U.S. Department of Commerce) on behalf of the Bureau of Justice Statistics (under the U.S. Department of Justice).

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3 years ago
Martin Enterprises needs someone to supply it with 118,000 cartons of machine screws per year to support its manufacturing needs
Bezzdna [24]

Answer:

$15.66 per carton

Explanation:

118,000 cartons of machine screws

equipment cost $785,000

depreciation per year = $785,000 / 5 = $157,000

fixed manufacturing costs $415,000 per year

variable costs per carton = $10.05 x 118,000 = $1,185,900

initial investment in net working capital $68,000

tax rate 24%

discount rate 12%

price per carton?

initial investment = -$853,000

CF₁ = [(R - $1,600,000 - $157,000) x 0.76] + $157,000 = 0.76R - $1,178,320

CF₂ = [(R - $1,600,000 - $157,000) x 0.76] + $157,000 = 0.76R - $1,178,320

CF₃ = [(R - $1,600,000 - $157,000) x 0.76] + $157,000 = 0.76R - $1,178,320

CF₄ = [(R - $1,600,000 - $157,000) x 0.76] + $157,000 = 0.76R - $1,178,320

CF₅ = [(R - $1,600,000 - $157,000) x 0.76] + $157,000 + $68,000 = 0.76R + $1,110,320

$853,000 = (0.76R - $1,178,320) / 1.12 + (0.76R - $1,178,320) / 1.12² + (0.76R - $1,178,320) / 1.12³ + (0.76R - $1,178,320) / 1.12⁴ + (0.76R + $1,110,320 ) / 1.12⁵ = 0.6786R - $1,052,071.43 + 0.6059R - $939,349.49 + 0.541R - $838,704.90 + 0.483R - $748,943.66 + 0.4312R + $630,025.39

$853,000 = 2.7397R - $4,209,094.87

$5,062,094.87 = 2.7397R

R = $5,062,094.87 / 2.7397 = $1,847,682.18

total revenue = $1,847,682.18

revenue per carton = $1,847,682.18 / 118,000 = $15.6583 = $15.66

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"If the option will cost the investor an additional $10,000, should the investor purchase the option? Enter your answer in thous
kykrilka [37]

Answer:

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Explanation:

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6 0
3 years ago
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Ghella [55]

Answer:

B) $4.67

Explanation:

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Marginal revenue = unit price

Since firm X participates in a perfectly competitive market, it is a price taker, and since the marginal revenue is constant, we can assume that this is the equilibrium price of product Z.  

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