Answer:
The journal entry to record the purchase on August 7 is:
Debit Merchandise $9,750
Credit Accounts Payable $9,750
Explanation:
The terms of 1/10, n/30 means 1% discount for the payment within 10 days and the full amount to be paid within 30 days.
The company purchased $9,750 of merchandise on August 7, returned $1,500 worth of merchandise on August 11, paid the full amount due on August 16 and received the discount. Juniper Company uses the gross method of accounting for purchases. Following accrual accounting method, the journal entry to record the purchase on August 7 is:
Debit Merchandise $9,750
Credit Accounts Payable $9,750
clarify positions and reporting relationships within the firm will be Upon beginning her career at Davidson Inc., a small consulting firm, Stephanie Benjamin receives a copy of the firm's organization chart.
What is a consulting firm?
A consulting firm is an organisation made up of specialists in a certain area who provide firms with problems they can't handle internally with expert advice, direction, and workable solutions. Every business will inevitably run into issues, and consulting firms are hired to help.
Executives typically contact consulting companies to send consultants—industry experts who are sent to watch and assess a company's operations. Consultants provide direction and practical answers to whatever issues the organisation may be facing. Companies use consulting firms to provide their knowledge on issues that cannot be resolved internally. These firms typically have specialised areas of emphasis.
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Organizational strengths will come to represent competitive advantages when they are marshaled in a way that allows them to become genuine strategic assets.
<h3>What are competitive advantages?</h3>
Competitive advantages refer to when the strengths that the organization has are used in such a way that they become genuine strategic assets.
It is these competitive advantages that will allow a company to be more successful in business because they will be able to use them to sell more than their competitors.
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Answer: a)$300,000
Explanation:
Stockholders Equity shows just how much of the company is being financed by the shareholders. It is calculated by,
Total Stockholders Equity for the Year = Issued and Outstanding Shares + Retained Earnings - Treasury Stock
Retained Earnings = Opening Retained Earnings + Net Income - Dividends
First year of operation so no Opening Retained Earnings.
= $0 + 60,000 - $30,000
= $30,000
Total Stockholders Equity for the Year = (40,000* $8) + $30,000 - (5,000 * 10)
= 320,000 + 30,000 - 50,000
= $300,000
Answer:
D - Procedure
Explanation:
The correct option from the multiple choices is D that is Procedure
(the procedure is a set of guidelines to tell how one should respond or act to a situation when it arises. These procedures are standard for all the time in such a similar circumstance.)
Thus, to outline a particular circumstance, procedure is the correct option.
