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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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We often get asked to check if learner (Insert your name) will or will not pass with a bachelors, diploma or certificate.


5 0
3 years ago
Bank ABC has checkable deposits of $415 million and total reserves of $50 million. The required reserve ratio is 9 percent. The
umka21 [38]

Answer:

$12,650,000.

Explanation:

Reserves is the total amount of a bank's deposit that is not given out as loans

Reserves = Deposits - outstanding loans

Required reserves is the percentage of deposits required of banks to keep as reserves by the central bank

Required reserves = reserve requirement x deposits

0.09 x 415 million = 37.35 million

Excess reserves is the difference between reserves and required reserves

50 million - 37.35 million = 12.65 million  

6 0
3 years ago
Using the most reliable information available, how much of the Earth's land surface is used for agriculture today? View Availabl
enot [183]

Answer:

The answer is: 30 to 40%, according to satellite imagery

Explanation:

Satellite imagery is the most reliable way to try to determine what percentage of the Earth's land is used for agriculture. First and most important, the world is huge and only satellites have the technology to take images of continents and differentiate what possible use is given to them.

Government's surveys and records are no very reliable since you would need to use information from all the governments in the world including democratic countries and nations with dictatorships.

4 0
3 years ago
In the for-profit business world, decisions to spend money must pass a "cost versus benefit" test, but for nonprofit arts organi
Zinaida [17]

The cost versus benefit test will not act as a good factor to measure tangible achievement.      

Explanation:

Most of the Non-profit organization has a focus on welfare activities. The benefits can be influenced only by the subjective fulfillment of benefits. Executive members of all trusts are not able to calculate the benefits attained through welfare operations. Such a parameter system of identifying the beneficiaries' prospects of end-users is known as Intangible achievement.

The tangible achievement always lies in the status of invisible movements of each welfare operations. But each step of inducing the effects of cost versus benefit test does not suit to provide the effective to identify the tangible achievements.  

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3 years ago
Tangible property is property that can be _______ and _______ possessed. (choose two correct answers)
givi [52]

Tangible property is the property that can be identified by the senses, it can be seen and possessed.

What is Tangible property?

  • To distinguish it from intangible property, tangible property is defined in law as essentially everything that can be felt.
  • This encompasses both real and personal property.
  • The term "choices in possession" refers to physical property in English law and several Commonwealth legal systems.

To learn more about Tangible property, refer to the following link:  

brainly.com/question/1286228

#SPJ4

4 0
1 year ago
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