All categories

3 years ago

Journalize the following merchandise transactions, using the net method under a perpetual inventory system.

Business

1 answer:

Olenka [21]3 years ago

6 0

Answer:

Part a

Debit : Accounts Receivable $18,000

Debit : Cost of Sales $10,800

Credit : Sales Revenue $18,000

Credit : Inventory $10,800

Part b

Debit : Cash $16,200

Debit : Discount allowed $1,800

Credit : Accounts Receivable $18,000

Part c

Debit : Accounts Receivable $600

Credit : Cash $600

Explanation:

The perpetual method calculates the cost of sales for each transaction made.

See the journals prepared as above

You might be interested in

Chris Bowie is trying to determine the amount to set aside so that he will have enough money on hand in 5 years to overhaul the

stealth61 [152]

Answer:

$515.53

Explanation:

CALCULATION OF THE ESTIMATED CASH OUTFLOW EXPENSES FOR ENGINE OVERHAUL

Engine Overhaul Probability Estimated Cash

estimated cash outflow(X) (Y) flow ( X * Y)

$370 10% $37

$470 30% $141

$720 50% $360

$760 10% $76

$2320 $614

Present Value Factor, PVF, of 3 years and 6% = 0.839619(from the table)

hence, value = $614 x 0.839619

= $515.53

Amount Deposited = $516 (approx)

6 0

4 years ago

A winning formula for many Answer E: Luxury brands is craftsmanship, heritage, authenticity, and history, often critical to just

Fittoniya [83]

Correct question:

A winning formula for many ________ brands is craftsmanship, heritage, authenticity, and history, often critical to justifying a sometimes extravagant price.

A) design

B) non durable

C) durable

D) ingredient

E) luxury

Answer:

E, luxury

Explanation:

When a product is being purchased irrespective of it price, the manufacturer is said to have found a winning formula.

from the above question, a luxury item that is authentic with an history behind it as well as exccellenct craftsmanship amongst other things ensure that the item is continually sold no matter what price it is.

Cheers.

4 0

4 years ago

Here are the comparative income statements of Ayayai Corp..

Georgia [21]

Answer:

Ayayai Corp.

Horizontal Analysis:

2020 Increase 2019

Net sales $632,600 $110,700 21.2% $521,900

Cost of goods sold 463,600 53,200 13.0% 410,400

Gross Profit 169,000 57,500 51.6% 111,500

Operating expenses 79,300 32,100 68.0% 47,200

Net income $ 89,700 25,400 39.5% $64,300

Explanation:

a) Data and Calculations:

AYAYAI CORP.

Comparative Income Statement For the Years Ended December 31

2020 2019

Net sales $632,600 $521,900

Cost of goods sold 463,600 410,400

Gross Profit 169,000 111,500

Operating expenses 79,300 47,200

Net income $ 89,700 $64,300

Percentage increase or decrease = (Increase/Decrease)/Base Year's Value

3 0

3 years ago

Regulators in different countries have proposed various regulations for product labeling. All of the following statements pertai

viktelen [127]

Answer:

D) the use of terms "light" and "natural" are allowed on labels only in the United States.

Explanation:

As the term "light" has a dictionary meaning of a very low in weight as compared to similar products in the market, is a very basic term to define the nature of product.

No labelling regulator has claimed that this kind of labelling is only allowed in the United States.

Further, the dictionary meaning of the word "natural" with respect to products shall mean, one that is not composed of high chemicals or transformation, but the major essence is extracted from the nature, i.e. from the environment.

Thus, the word natural can again be used by any country to label their product and in no manner is restricted to the United States.

6 0

4 years ago

Bert's company is about to release a new electronics product. The electronics product is estimated to have a short life cycle be

Anastasy [175]

Answer: The answer is price skimming.

Explanation:

The price skimming is a form of price discrimination overtime rather than space. It is a situation where a company wants to take the advantage of some buyers willing to pay a higher price for a product than other because, To them the product has a high present value price in order to earn extra money from such buyers.

This type of objective is favoured where the following condition exist

1. There are enough buyers who want to pay higher price.

2. The higher price will not quickly attract entry by competitors.

3. The demand for the goods is highly inelastic, in cases whereby buyers are not price sensitive and therefore, do not react to higher prices.

4. If the Market is a narrow one

5. If the emphasis is not on high volume production and sales.

7 0

3 years ago