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Natalka [10]
3 years ago
5

A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On

July 28, 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 merchandise return on July 7 is:
Business
1 answer:
Deffense [45]3 years ago
3 0

Answer:

Date   Account Titles and Explanation       Debit    Credit

          Accounts Payable                              $1,600

          ($1,800 - $200)

                 Merchandise inventory                             $32

                 (2% * $1,600)

                 Cash                                                           $1,568

          (To record  the merchandise return)

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Schedule of Cash Collections of Accounts Receivable OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeM
mihalych1998 [28]

Answer and Explanation:

The preparation of the schedule of cash collections from sales for October, November, and December is presented below:

Particulars    October      November           December  

Sales           $58,000      $65,000           $72,000  

Cash sales   $14,500             $16,250                  $18,000

                     ($58,000 × 0.25)   ($65000 × 0.25)         ($72,000 ×.25 )

Credit sale   $43,500              $48,750                    $54,000  

                     ($58,000 - $14,500)                  

September account receivable       $35,000      

current month payment      

October credit sale:       $13,050       $30,450  

                   ($43,500 × 30%)       (43500 ×70%)  

November credit sale                 $14,625                    $34,125

                                                           ($48,750 × 30%)            (48750 × 70% )

December credit sale:                                  $16,200  

                                                                                                 ($54,000 × 30% )

Total cash collected         $62,550  $61,325                    $68,325

($14,500 + $35,000 + $13,050)   ($16,250 + $30,450 + $14,625)        ($18,000 + $34,125 + $16,200)

5 0
3 years ago
Cart Vader is a new business venture aimed toward selling golf carts to be used as neighborhood recreational vehicles. The new C
storchak [24]

Answer:

d. perfect price discrimination.

Explanation:

According to my research on different pricing strategies, I can say that based on the information provided within the question the business owner is attempting to practice perfect price discrimination. This term refers to when a company charges different prices for each sale of the same product, usually charging the highest possible price and allowing room for negotiations. Which is exactly what Cart Vader is doing with it's golf carts.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

5 0
3 years ago
Jacob is the owner of a film production company. He promotes a healthy work-life balance for his employees. He also encourages t
babymother [125]

Answer:

The country club style.

Explanation:

The country club style is a leadership style in which there is a high concern for people and low concern for the results which means that the manager is interested in his employees' needs and believes that they will work hard if they are in a good working environment. In terms of results, this tends to be a style in which the manager is relaxed and productivity can be low because there isn't a lot of control. According to this, the leadership style that Jacob is using in this scenario is the country club style because he believes that a healthy work environment is important and he doesn't do anything when his employees miss their deadlines.

6 0
3 years ago
Chris has a job as a sales representative for a pharmaceutical company. The company offers both quarterly and annual bonuses bas
earnstyle [38]

Answer:

c. remuneration of personnel

Explanation:

Henri Fayol developed the fourteen principles of management.

One of the fourteen principles being, Remuneration of personnel.

Fayol was of the opinion that in order to extract the best performance from employees, appropriate remuneration system must exist in an organization.

This meant emphasizing on employee satisfaction by following fair remuneration practices coupled with adequate incentive system which rewards good performance.

In the given case, the pharmaceutical company offers performance based incentives in the form of quarterly as well as annual bonuses in addition to an existing profit-sharing plan for employees. This is an example of Fayol's principle of Remuneration of personnel.  

8 0
3 years ago
American Bakeries had a fleet of over 3,000 delivery trucks. Because of the increasing cost of gasoline, the company was interes
Lisa [10]

Answer:

American bakeries will win

Explanation:

In the given case the American bakeries will win.

It is given in the question that the contract between the American Bakeries and the Empire is a requirement contract.

The requirement contract not necessarily means that the two parties will have the trade.

Therefore,

The American Bakeries does not require any purchase from the Empire

3 0
2 years ago
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