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Deffense [45]
3 years ago
6

Journalize the below entries.

Business
1 answer:
grigory [225]3 years ago
3 0

Answer:

Dec. 2.

Dr. Inventory $4,000

Cr. Troy $4,000

Dec. 3.

Dr. Rent Expense $2,600

Cr. Cash $2,600

Dec. 5.

Dr. Office Supplies $450

Cr. Rigby Supply $450

Dec. 8.

Dr. Utility Expense $590

Cr. Cash $590

Dec. 9.

Dr. Equipment $6,500

Cr. Alright Equipment $6,500

Dec. 10.

Dr. Alright Equipment $6,500

Cr. Equipment $6,500

Dec. 11.

Dr. Troy $4,000

Cr. Discount received $40

Cr. Cash $3,960

Explanation:

Dec. 11

The terms 1/10 n/30 mean there is a discount of 1% available on the payment to be made in 10 days of the purchase. The net credit period is 30 days. As the payment is made within the discount period, hence the payment will be made net of discount.

Discount on Purchase = $4,000 x 1% = $40

Payment = Total amount due - Discount = $4,000 -$40 = $3,960

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Answer:

<em>In theory, both are riskless but in practicality they aren't completely risk free.</em>

Explanation:

<em>In investment theory</em>, the investment in government bonds is <em>riskless </em>, irrespective of the investment maturity period because they are backed by the government.

However, <em>in practicality</em> every investment involves risk whether it's a short term or long term. However, a short term investment like the one specified in <em>statement 2</em> involves lower time frame and thereby lower volatility, hence it implies <em>lower risk</em>. The investment specified in <em>statement 1</em> is of longer term and hence can involve higher volatility, hence it implies <em>higher risk.</em>

<em><u>Note</u></em><em>- All the governments are prone to risk practically</em> because they are also part of the global financial and economic system and hence, they have to manage their budget balances prudently. Every investment thereby involves <em>risk</em>, it's just the <em>financial backing</em> of the <em>government financial</em> <em>instruments</em> which makes them less risky as compared to the other financial instruments.  

7 0
3 years ago
Business support systems ____. simulate human reasoning by combining a knowledge base and inference rules that determine how the
djyliett [7]

Answer:

The correct answer is Provide job-related information support to users at all levels of a company

Explanation:

Business collaboration systems (ERP) are one of the most used types of information systems. They help the managers of a company to control the flow of information in their organizations.

It is one of the types of information systems that are not specific to a specific level in the organization, but provide important support for a wide range of users. These information systems are designed to support office tasks such as multimedia systems, emails, videoconferences and file transfers.

7 0
3 years ago
Schuepfer Inc. bases its selling and administrative expense budget on budgeted unit sales. The sales budget shows 2,600 units ar
NISA [10]

Answer:

$39,720

Explanation:

Total fixed costs that represent current cash flows = $35,760 - $4,100

Total fixed costs that represent current cash flows = $31,660

Variable costs = 2,600 units * $3.10

Variable costs = $8,060

The cash disbursements for selling and administrative expenses on the March selling and administrative expense budget will be

= $31,660 + $8,060

= $39,720

6 0
3 years ago
Loans requiring periodic payments of interest and principle are referred to as
nikitadnepr [17]
They are referred to as installment notes
5 0
2 years ago
A convenience store owner in Philadelphia was worried that the implementation of the 1.5 cents per ounce tax on sweetened bevera
bagirrra123 [75]

Answer:

Elastic- D

Explanation:

When the demand of a product is said to be elastic, it means the price and other factors have a large effect on the quantity purchased by consumers. An increase in price will produce an effect where the quantity purchased decreases.

Elastic demand as opposed to inelastic demand indicates that the consumers can do without that product and can afford to do comparisons before shopping as there is no desperation for the product.

5 0
3 years ago
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