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3 years ago

The 20% off sale is a better deal than the $200 rebate or

Business

2 answers:

Natalka [10]3 years ago

7 0

Answer:

See below

Explanation:

The dining set cost $1500.

A 20% off sale present a discount amount equal to

=20/100 x $1500

=0.2 x $1500

=$300.

The 20% off sale has a savings of $300 compared to the $200 rebates or $150 coupon.

If the Porters budgeted $1,250, and the dining set is $1500, the 20% off sale will require them to pay $1,200, which is within their budget.

Alchen [17]3 years ago

7 0

Yes, the Porters are under budget. The 20% off sale is the best deal because $1,500 times 0.20 is $300. $300 is a bigger discount than the $150 coupon and $200 rebate. $300 off $1,500 is $1,200, which is less than the amount budgeted.

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Prepare budgetary entries, using general ledger control accounts only, for each of the following unrelated situations: (If no en

den301095 [7]

Answer:

Please see answer in explanatory column

Explanation:

Journal for Budgetary entries

a) Anticipated revenues are $11.8 million; anticipated expenditures and encumbrances are $8.0 million

Account Debit Credit

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Appropriation control $8,000,000

Budgetary fund $3,800,000

Calculation

Budgetary fund = Estimated Revenue control $11,800,000-

Appropriation control $8,000,000 = $3,800,000

b)Anticipated revenues are $8.0 million; anticipated expenditures and encumbrances are $9.4 million.

Account Debit Credit

Estimated Revenue control $8,000,000

Budgetary fund $1,400,000

Appropriation control $9,400,000

Budgetary fund = Estimated Revenue control $8,000,000-

Appropriation control $9,400,000 = -$1,400,000 , therefore will be debited

c)Anticipated revenues are $9.4 million; anticipated transfers from other funds are $1.6 million; anticipated expenditures and encumbrances are $8.0 million; anticipated transfers to other funds are $0.7 million

Account Debit Credit

Estimated Revenue control $9,400,000

Estimated other finance source control$1,600,000

Appropraition control $8,000,000

Estimated other finance source control $700,000

Budgetary fund $2,300,000

Budgetary fund = Estimated Revenue control +Estimated other finance source control) -Appropriation control + Estimated other finance source control= $9,400,000 +$1,600,000)- $8,000,000 + 700,000 ) = 11,000,000 - $8,700,000 =$2,300,000

d)Anticipated revenues are $8.6 million; anticipated transfers from other funds are $1.1 million; anticipated expenditures and encumbrances are $9.7 million; anticipated transfers to other funds are $1.0 million.

Account Debit Credit

Estimated Revenue control $8,600,000

Estimated other finance source control$1,100,000

Budgetary fund $1,000,000

Appropraition control $9,700,000

Estimated other finance source control $1,000,000

Budgetary fund = Estimated Revenue control +Estimated other finance source control) -Appropriation control + Estimated other finance source control= $8,600,000 +$1,100,000)- $9,700,000 + 1,000,000 ) = 9,700,000 - $10,700,000 =-$1,000,000 so will be debited

4 0

3 years ago

Question 1 (2 points)

inn [45]

Answer:

True

Explanation:

The principal purpose of building a business is to make profits. A business must provide solutions to particular needs and wants in the community to attract customers. Different entrepreneurs will offer alternative or similar solutions to a specific situation.

Anyone starting a business will target a particular set of customers. He or she must be ready to complete for those customers with other like-minded entrepreneurs. Competition is good in business as it makes entrepreneurs innovate on the best ways to serve their customers. It also gives customers alternatives.

8 0

3 years ago

Prepare journal entries to record each of the following sales transactions of a merchandising company. The company uses a perpet

Usimov [2.4K]

Answer: please find the explanation column for answers

Explanation:

journal entry to record the sales transaction of a merchandising company:

Date Account Debit Credit

Apr 1 Account receivables $5,400

Sales $5,400

To record cost of goods sold

Apr 1 Cost of merchandise sold $3,240

Merchandise inventory $3,240

2. To record sales return of goods.

Date Account Debit Credit

Apr 4 Sales Return $620.00

Account Receivable $620.00

Cost of merchandised returned

Apr 4 Merchandise Inventory $372.00

Cost of Goods Sold $372.00

3.To Record Sales made from merchandise

Date Account Debit Credit

Apr 8 Account Receivable $2,200.00

Sales $2,200.00

To Record cost of merchandise Sold

Apr 8 Cost of Goods Sold $1,540.00

Merchandise Inventory $1,540.00

4.Journal to record payment received from sales of merchandise

Date Account Debit Credit

Apr 11 Cash $4,780.00

Account receivable $4,780.00

Calculation

Amount due from Apr 1 st sale less than return on April 4 =Account receivables - Sales Return= $5,400- $620=$4,780.00

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3 years ago

Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2013. Its inventory at that date w

Murrr4er [49]

Answer: $603,500

Explanation:

Ending inventory in 2014;

= Ending inventory balance 2013 + (( $\frac{Inventory current price 2014}{Price index 2014}$ * 100) - ending inventory 2013)) * Price index 2014/100

= 550,000 + (( $\frac{642,000}{107}* 100$ ) - 550,000)) * 107/100

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2 years ago

______________ specifies sales revenues and selling distribution and marketing costs.

frez [133]

To answer the question above as the which specifies the sales revenue and selling distribution and marketing costs is letter B, Sales budget. The answer lies in the question itself. Sales revenues,distribution and the marketing cost are all related to the sales budget. Sales budget controls the expenditure or resources related to sales.

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2 years ago