Why should you avoid the use of sarcasm , cliches, and idioms in business letters?

Allied Merchandisers was organized on May 1. Macy Co. is a major customer (buyer) of Allied (seller) products.

Angelina_Jolie [31]

Answer:

Explanation:

JOURNAL

Date Account Title & Explanation Post Debit ($) Credit($)

Ref.

3- May Inventory 16,000

Cash 16,000

(To record the purchase at 8

per $ for 2000 units

5-May Account receivable 12,000

Sales 12,000

(To record the sales on account)

5- May Cost of goods sold 8000

Inventory 8000

(To record Cost of goods sold)

7- May Sales return & allowance 1,200

Account receivable 1,200

(To record the sales return)

7- May Inventory 800

Cost of good sold 800

(To record the cost of inventory

restored to Allied Company)

8- May Sales return allowance 400

Account receivable 400

(To record the credit of $400 given

to Macy company for compensate of

damage)

15- May Cash 10,192

Sales discount 208

Account receivable 10400

(To record the cash received within

discount period)

N:B

From above ; on May 15 ;

We determine the accounts receivable amount after sales return and allowances;

i.e

Account receivable = Sales - Sales return - Compensation Period

= $12,000 -$1,200 - $ 400

= $10,400

The cash discount = Account receivable × 2 %

= $10,400 × 0.02

= $208

The cash received amount = Account receivable × 98%

= $10,400 × 0.98

= $10,192

I hope that helps alot!

4 0

3 years ago

Chester's balance sheet has $105,038,000 in equity. Further, the company is expecting net income of 3,000,000 next year, and als

charle [14.2K]

Answer:

The answer is $112,038,000

Explanation:

The total equity will be equity brought forward, the net income(retained earnings) and the newly issued shares.

Book value equals asset minus liability which this formula is the same as equity. So in order words book value is also the same as total equity.

Therefore, the book value is:

$105,038,000 + 3,000,000 + $4,000,000

= $112,038,000

3 0

3 years ago

The new owner of a house needs hazard coverage for $98,000. The annual premium is $0.44 per $100.00 of the amount insured. The i

Kisachek [45]

Answer:

monthly insurance payments = $29.94

Explanation:

given data

hazard coverage = $98,000

annual premium = $0.44 per $100.00

cost of the policy = 2 ½ times annual rate for 3 year policy

solution

we get here first normal premium cost per year that is

normal premium cost per year = $98000 × 0.44 × $\frac{1}{100}$

normal premium cost per year = $431.2

and

insurance company is offering for new owner discount for purchasing a three year policy

so here the total cost for the three year is

total cost for the three = $431.2 × 2.5 = $1078

and now we get monthly insurance payments for 3 year is

monthly insurance payments = $\frac{1078}{36}$

monthly insurance payments = $29.94

5 0

3 years ago

The perimeter of a rectangle is 42cm and its area is 68cm2. Find its length and breadth.

raketka [301]

<h2>Length = 4cm breadth = 17cm</h2>

Explanation:

Given P = 42 cm and Area = 68cm^2

<em>So we apply the above values to its formula to find length and breadth</em>

P = 2L + 2w = 42cm

L + w = 21cm (dividing the above statement by 2)

(21-w)w = 68cm^2

w^2 - 21w + 68 = 0 (moving variables and framing equations)

(w - 17)(w-4) = 0 , w = 4cm,17cm (calculating the values by using the equation)

Rectangle is 4cm by 17cm

7 0

3 years ago

when the federal open market committee (fomc) directs that treasury securities be sold in the open market, this a) decreases the

RideAnS [48]

When the Federal Open Market Committee allows treasury securities to be sold in the open market, the result is a) decreases the money supply.

<h3 /><h3>What happens when treasury securities are sold?</h3>

When treasury securities are sold by the FOMC of the Federal Reserve, people will buy those securities which means that the Federal Reserve gets that money.

As a result, the money supply in the economy will decrease as the amount of money in the economy will be reduced by the amount that went to the Fed.

In conclusion, when treasury securities are sold on the open market, this decreases the money supply.

Find out more on open market operations at brainly.com/question/14256204

#SPJ1

3 0

1 year ago