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dimaraw [331]
3 years ago
9

Adidea Corp. regularly buys merchandise from vendors. It just purchased 1,000 units on credit from one of its vendors. How will

the company record this transaction?
The company will record the purchase as a debit to the inventory account and a credit to the ________ account.
Business
1 answer:
Ostrovityanka [42]3 years ago
8 0

Answer:

Vendor's account/ accounts payable

Explanation:

Merchandise is an asset to the company. An increase in assets is debited to that particular merchandise or inventory account.

Since the merchandise was bought on credit, liabilities will increase. An increase in liabilities is credited to the specific vendor's account who supplied the goods on credit.

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Suppose GDP in an economy is $3,542 billion. Personal Consumption Expenditures (C) are $2,343 billion, Government Spending (G) i
aleksandrvk [35]

Answer: -$45 billion.

Explanation:

Net Exports refers to Exports out of a country less imports into the country and it is a component of GDP using the Expenditure method. The other components include Government Spending, Investment and Consumption all of which are given in the above question.

The Net Exports are therefore;

GDP = Consumption + Investment + Government Spending + Net Exports

3,542 = 2,343 + 865 + 379 + Net Exports

3,542 = 3,587 + Net Exports

Net Exports = 3,542 - 3,587

Net Exports = -$45 billion

The Net Exports are negative which means that more goods were imported than were exported.

6 0
3 years ago
A store has a $179.99 item on sale for 25% off, plus an additional 20% off. What is the percentage of savings off on this item?
Irina-Kira [14]

Answer:

Percentage of savings off=45%

Explanation:

Savings=discount×Original item price

First save=(25/100)×179.99=$44.9975

Additional save=(20/100)×179.99=$35.998

Total savings=(44.9975+35.998)=$80.9955

Percentage of savings=(Total saving/Original price)×100

(80.9955/179.99)×100=45%

8 0
4 years ago
On January 1, a company issues bonds dated January 1 with a par value of $480,000. The bonds mature in 5 years. The contract rat
Svetach [21]

Answer:

The entry will be,

Cash                                           461461 Dr

Discount on Bonds Payable     18539 Dr

       Bonds Payable                             480000 Cr

Explanation:

The bonds are being issued at a discount because the rate of interest offered by the bonds is less than that is prevailing in the market. Thus, the bonds will be issued at a discount of,

Discount on Bonds Payable = 480000 - 461461

Discount on Bonds Payable = 18539

The entry will be to record the receipt of cash by debiting the cash account by 461461 and debiting the discount on bonds payable by 18539 and recording a credit against these debits of 480000 as bonds payable

5 0
3 years ago
Chuck, a single taxpayer, earns $80,750 in taxable income and $30,750 in interest from an investment in city of heflin bonds. (u
hoa [83]

Answer:

Explanation:

Let’s use the tax rate schedule for 2019

Since Chuck status is single and earned $80,750.

He would pay 10 percent on the first $9,700 of his earnings ($970);

Then 12 percent on the other earnings from $9,701 to $39,475 ($3,573); and then 22 percent on the remaining income, up to $80,750 ($9,081).

Chuck total tax bill would be $13,624. Divide that by adding his earnings of $80,750 and interest of $30,750 and you get an effective tax rate of 12.22 percent.

4 0
3 years ago
What is an agreement between a consumer and lender to borrow money and pay it back in increments called? A. credit B. lending C.
muminat
"Credit" is the one among the following choices given in the question that <span>is an agreement between a consumer and lender to borrow money and pay it back in increments. The correct option among all the options that are given in the question is the first option or option "A". I hope the answer has helped you.</span>
4 0
3 years ago
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