Answer:
a. Dr Inventory $10,000
Cr Accounts payable $10,000
b. Dr Accounts payable $10,000
Cr Cash $9,800
Cr Inventory $200
Explanation:
Preparation of the Journal entries Under a perpetual inventory system,
a. Dr Inventory $10,000
Cr Accounts payable $10,000
( To record purchase of merchandise)
b. Dr Accounts payable $10,000
Cr Cash $9,800
($10,000-$200)
Cr Inventory $200
(2%*$10,000)
( To record payment for merchandise)
Discount amount = Amount due x Discount percentage
Discount amount= 10,000 x 2/10
Discount amount= $200
Answer:
b. cost-plus pricing
Explanation:
cost-plus pricing is a price base that involves a markup addition to the cost of services and goods to get to the final selling price. In this technique you compute all cost (material, labor, etc) and then add a percentage in order to obtain the product's price
The envelope system is usually helpful for items that tend to bust your budget. Things like gas, groceries and bills.
I had a quiz like this back in 9th grade, even though what goes in the blank is less predictable. Glad to help :)
meet customers to determine their risk profiles
and recommend different types of insurance
to mitigate those risks>insurance sales agent
help individuals and families manage and grow
their money>personal finance manager
help clients buy, sell, and rent properties>real estate broker
manage their clients’ taxes>tax accountant
