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yarga [219]
3 years ago
14

This information relates to Blossom Co..

Business
1 answer:
GarryVolchara [31]3 years ago
3 0

Answer:

1. Apr 5

Dr Merchandise inventory $28,800

Cr Account payable $28,800

Apr 6

Dr Merchandise inventory $620

Cr Cash $620

Apr 7

Dr Equipment $34,200

Cr Account payable $34,200

Apr 8

Dr Account payable $3,500

Cr Merchandise inventory $3,500

Apr 15

Dr Account payable $25,300

Cr Cash $24,288

Cr Merchandise inventory $1,012

b) May 4

Dr Account payable $25,300

Cr Cash $25,300

Explanation:

1. Preparation of the journal entries to record the transactions listed above on Blossom Co.’s books. using a perpetual inventory system.

Apr 5

Dr Merchandise inventory $28,800

Cr Account payable $28,800

Apr 6

Dr Merchandise inventory $620

Cr Cash $620

Apr 7

Dr Equipment $34,200

Cr Account payable $34,200

Apr 8

Dr Account payable $3,500

Cr Merchandise inventory $3,500

Apr 15

Dr Account payable $25,300

($28,800-$3500)

Cr Cash (25,300*96%) $24,288

Cr Merchandise inventory $1,012

($25,300-$24,288)

b) Preparation of the journal entry to record this payment.

May 4

Dr Account payable $25,300

($28,800-$3500)

Cr Cash $25,300

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"if beginning inventory is $100,000, cost of goods purchased is $500,000, sales revenue is $1,000,000 and ending inventory is $1
Svet_ta [14]

<u>Calculation of cost of goods sold under a periodic system:</u>


It is given that the beginning inventory is $100,000, cost of goods purchased is $500,000, and ending inventory is $130,000. The cost of goods sold can be calculated as follows:

Cost of Goods Sold = Beginning inventory + Cost of goods purchased- Ending inventory

= 100,000 + 500,000 – 130,000

= $470,000


Hence, the cost of goods sold is<u> $470,000</u>



7 0
3 years ago
____________ makes subordinates aware of the importance of their performance to the organization and aware of their own needs fo
galina1969 [7]

Answer:

Transformational Leadership

Explanation:

Transformational leadership is a form or theory of leadership whereby the leader encourages employees or workers implement changes, whilst inspiring and motivating them to be innovative. A transformational leader is concerned with helping employees advance to higher levels of morale, confidence and motivation. They motivate employees to work for the good of the organization while also hitting on the aspects on the need for self growth.

3 0
2 years ago
The income tax rate on all forms of income is 40 percent and there is a tax of 10 percent on all consumption expenditure. The no
Tems11 [23]

Answer:

The economic policy action that changes the production demand and possible gross domestic product is named the availability aspect impact of the fiscal policy. This happens as a result of government provides public smart and services which offer work incentive and therefore the taxation variations the work inducement. However the availability aspect impact has serious restrictions. The taxation drives the wedge among the interest paid by the receiver and acknowledged by the investor. This extremely changes the funds and investment within the economy. This disturbs the capital development within the economy. The slower rate of investment formation reductions the economic process of the economy.

On the opposite hand taxation lowers the inducement to figure and therefore the provider of labor decreases at every level of wage rate. This reductions the potential gross domestic product and increase indicator within the economy. This can be shown within the figure 1.1.

In The figure 1.1 offers the marketplace state of affairs within the economy. Here Ld is that the labor demand curve and Ls is the initial labor provide curve. The preliminary wage rate was Wand labor hours utilized was L. The tax on wage financial gain lowers the inducement to work and moves the Ls curve left to Ls+tax. The new equilibrium happens on the left of the preliminary equilibrium. That’s the quantity of labor utilized within the economy decreases, because the amount of labor utilized decreases the wage rate raises by the quantity of tax.

The potential gross domestic product that is given by the equity between labor demands and provide or economic condition is given within the figure 2.2, wherever we tend to show the assembly perform of the economy. The assembly perform offers the link between labor hours utilized and real gross domestic product. Here, the initial potential gross domestic product at economic condition was Y with labor hours utilized L. because the tax decreases the inducement to figure the labor provide curve shifts and a brand new economic condition achieved with less quantity of labor hour utilized the potential gross domestic product fall to 111. At L labor hour utilized the important gross domestic product was Y and once tax as labor hours fall to L1 the real GDP decreases to

Now as there's invariably economic condition within the economy the important gross domestic product here are the potential GDP. Therefore we tend to see that a rise in charge per unit will increase the wage rate and reduces potential GDP

6 0
3 years ago
Wendy has been designated as group leader of a task force at work that just met for orientation last week. During the second mee
kipiarov [429]

Answer:

B) Storming

Explanation:

Storming  

the second stage in the team development

When the group began to contradict other views, this meant that they had crossed the first stage of formation and were now trying to cross the boundaries. This phase is the stage of the storm, which can cause group failure.  

so correct option is  B) Storming  

5 0
3 years ago
Ethical Concerns in Human Resources
Dennis_Churaev [7]

Answer:

Ethical Concerns in Human Resources

Matching Ethical Issues with Ethical Concerns:

A. Mike, a new employee, was distressed to learn that he was expected to help with the illegal dumping of medical waste.

3. Right of freedom of conscience

B. One of the important messages of HIPPA (the Health Insurance Portability and Accountability Act) is the need to keep employee health records confidential.

2. Right of privacy

C. Sharon complains because the employer hired her for the day shift, but now she is expected to work the midnight shift.

5. Right of free consent

D. Many companies establish Employee Assistance Programs (EAPs), which offer employees many important benefits, including a complaint process so that employees will feel free to share their concerns.

1. Right of freedom of speech

E. Ed felt he was being demoted because of his age, not of his performance, so he asked for a meeting with the director of HR.

4. Right to due process

Explanation:

Data:

Ethical Concerns:

1. Right of freedom of speech

2. Right of privacy

3. Right of freedom of conscience

4. Right to due process

5. Right of free consent

b) Ethical principles:

Mutual benefits: This principle refers to equity in sharing benefits and costs.

Assumption of responsibility: This principle demands accountability with responsibility.

Having a sense of purpose or vision: This principle refers to the fulfilment of purpose that is considered reasonable by others.

Fairness: The principle requires the absence of favoritism  and discrimination.

8 0
3 years ago
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