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3 years ago

Select the term in the blank space beside the definition that it most closely matches.

Business

1 answer:

Svetach [21]3 years ago

6 0

Answer:

1. Merchandiser

2. Periodic inventory system

3. Perpetual inventory system

4. Cost of goods sold

5. Sales discount

6. Credit period

7. Discount period

8. FOB destination

Explanation:

1. Merchandiser: A type of business that earns income by buying and selling merchandise.

2. Periodic inventory system: Inventory is updated for purchases and sales of inventory only at the end of a period.

3. Perpetual inventory system: Inventory is updated for each purchase and each sale of inventory.

4. Cost of goods sold: The expense of purchasing and preparing the merchandise sold during a period.

5. Sales discount: Seller's description of a cash discount granted to buyers in return for early payment.

6. Credit period: The amount of time allowed by a seller before payment is due from the buyer.

7. Discount period: Time period in which a cash discount is available.

8. FOB destination: Refers to credit terms where goods in transit are owned by the seller.

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Import tariffs generally ________ the output of domestic producers of the affected products and also _________ the output of dom

Lady_Fox [76]

Answer:

increase , decrease

Explanation:

Import tariffs are amount levied on the imports of goods. tariffs makes imports more expensive and discourages import.

if an import tariff is in place for a particular good, the import of that good would reduce and this would increase domestic producers to produce more of the good to meet the demand of the good. so output of domestic producers would increase.

Because output is consumed domestically, exports would reduce.

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3 years ago

The Jones are a married couple and have always filed joint tax returns. On May 18, 2017, the couple was assessed with tax defici

Katena32 [7]

Answer:

c. May be able to avoid liability to the extent she had no reason to know of the deficiency (and did not have actual knowledge) when filing the return. The burden of proof will be on her.

Explanation:

The doctrine of <em>innocent spouse relief</em> might apply here. Mrs. Jones will have to prove that:

the income that was omitted was earned by her husband, not her.
she must prove that when she signed the tax filings, she was not aware of the omission.
after examining all the facts surrounding the omission, the IRS must decide that blaming her would not be fair.

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3 years ago

. Determine the receivables turnover ratio and average days sales in receivables for the current year. (Use 365 days a year. Do

Dmitriy789 [7]

Answer:

The question is incomplete, find complete question in the attached.

The receivables turnover for the current year is 9.02 times while average days sales in receivable is 41 days

Explanation:

The formula for computing receivables turnover ratio is given as:

Net credit sales/average accounts receivable,where average receivables is the opening plus closing receivables divided by two.

Net credit sales=$35,657

Average receivables =($3495+$4415)/2=$3955

Receivable turnover ratio=$35657/$3955

=9.02

Average days sales in receivable=number of days in the year/receivable turnover ratio

Average days sales in receivable=365/9.02

=40.47 days approx 41 days

The average days sales in receivable implies the average number of days it takes receivables to settle their accounts

Download xlsx

7 0

4 years ago

At Haddon, Inc., the office workers are employed for a 40-hour workweek and are paid on either an annual, monthly, or hourly bas

levacccp [35]

Answer:

Employee Salary Hrs. Worked Cumulative Taxable

Wages as of Last Pay Period

King, M. $135,200 (year) 40 $132,600.00

Manera, E. $6,500 (month) 40 $76,500.00

Tate, S. $3,900 (month) 48 $45,900.00

Yee, L. $12.50 (hour) 44.5 $27,675.13

Diaz, R. $12.50 (hour) 48 $14,778.96

Zagst, J. $14.50 (hour) 52 $24,703.02

(a) regular earnings,

King, M. $135,200 / 52 weeks = $2,600

Manera, E. $1,500 weekly salary

Tate, S. $900

Yee, L. $12.50 x 40 = $500

Diaz, R. $12.50 x 40 = $500

Zagst, J. $14.50 x 40 = $580

(b) overtime earnings,

King, M. $0

Manera, E. $0

Tate, S. [($900 / 40) x 8 x 1.5] = $270

Yee, L. $12.50 x 4.5 x 1.5 = $84.38

Diaz, R. $12.50 x 8 x 1.5 = $150

Zagst, J. $14.50 x 12 x 1.5 = $261

King, M. $2,600

Manera, E. $1,500

Tate, S. $1,170

Yee, L. $584.38

Diaz, R. $650

Zagst, J. $841

(d) FICA taxable wages (the FICA taxes limit for 2020 is $137,700, so everyone will be taxed)

King, M. $2,600

Manera, E. $1,500

Tate, S. $1,170

Yee, L. $584.38

Diaz, R. $650

Zagst, J. $841

(e) FICA taxes to be withheld

King, M. $2,600 x 7.65% = $198.90

Manera, E. $1,500 x 7.65% = $114.75

Tate, S. $1,170 x 7.65% = $89.51

Yee, L. $584.38 x 7.65% = $44.71

Diaz, R. $650 x 7.65% = $49.73

Zagst, J. $841 x 7.65% = $64.34

(f) net pay for the week ended

King, M. $2,600 - $198.90 = $2,401.10

Manera, E. $1,500 - $114.75 = $1,385.25

Tate, S. $1,170 - $89.51 = $1,080.49

Yee, L. $584.38 - $44.71 = $539.67

Diaz, R. $650 - $49.73 = $600.27

Zagst, J. $841 - $64.34 = $776.66

3 0

3 years ago

In an unregulated, competitive market consumer surplus exists because:___________.

Paha777 [63]

Answer: some consumers are willing to pay more than the equilibrium price.

Explanation:

Consumer Surplus is simply the difference between the price that is paid by a consumer and the price that the consumer was willing to pay in the first place.

In an unregulated, competitive market consumer surplus exists because some

consumers are willing to pay more than the equilibrium price.

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3 years ago