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Svetlanka [38]
3 years ago
15

Based on the following data, determine the cost of merchandise sold for October. Merchandise Inventory, October 1 $ 98,560 Merch

andise Inventory, October 31 102,330 Purchases 433,880 Purchases Returns & Allowances 12,760 Purchases Discounts 9,900 Transportation In 7,620
Business
1 answer:
bagirrra123 [75]3 years ago
4 0

Answer:

$414,070

Explanation:

Calculation to determine the cost of merchandise sold for October

Merchandise inventory, october 1 $ 98,560

Add: Purchases $433,880

Add: Transportation in $7,620

Less: Purchase return and allowances $12,760

Less: Purchase discount $9,900

Less: Merchandise inventory, october 31 $102,330

Cost of merchandise sold $414,070

Therefore the cost of merchandise sold for October will be $414,070

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International law governs?
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Answer:

Relations or transaction between independent nations.

Explanation:

Each countries have different law.

Which means that when two countries about to engage in a certain transaction, they need another law as a foundation to regulate the transaction. Using the law of only one of the country will be unfair for the other.

International law will come into picture in such circumstances. During relations or transaction between independent nations, a third neutral party (Such as the agencies from the united nations) will regulate their dealings based on international law that applicable to all members of the united nations.

3 0
3 years ago
The monopolist, like the perfect competitor, will maximize profits at the output where marginal revenue equals marginal cost.
spayn [35]
When marginal profit turns negative, producing more output will decrease total profits. Total profit is maximized where marginal revenue equals marginal cost. In this example, maximum profit occurs at 4 units of output.
6 0
3 years ago
TB MC Qu. 04-99 K. Canopy, the proprietor of Canopy Services... K. Canopy, the proprietor of Canopy Services, withdrew $6,200 fr
Svetlanka [38]

Answer:

Debit K Canopy, Capital $6,200;

Credit K Canopy Withdrawals $6,200

Explanation:

With regards to the above, the entries to close the withdrawals account at the end of the year would be;

Debit K Canopy, Capital $6,200

Credit K Canopy Withdrawals $6,200

Capital is being debited because cash is being taken from the business, hence it will be debited, while withdrawal account would be credited since its receiving cash.

4 0
3 years ago
Item 2 item 2 companies such as maybelline often use _____ advertising to convince consumers to take action such as switching br
PtichkaEL [24]
<span>There are two possible types of advertising that apply. Companies such as maybelline often use push/persuasive advertising to convince consumers to take action such as switching brands, trying a new product, or even continuing to buy the advertised product. 


1) Persuasive advertising is when company promotes its products in every possible way such as representing the promotional item by flyers, magazines, television, radio and billboards. Such type of advertising is considered to be traditional and its viral influence usually leads company to success in sales.
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3 0
3 years ago
The following account balances were extracted from the accounting records of Thomas Corporation at the end of the year:
Savatey [412]

Answer: $1,063,000

Explanation:

Net realizable value is the value of an asset that a company will get when the asset is sold minus the cost that came with the asset sales.

The net realizable value of the accounts receivable will be the accounts receivable of $1,100,000 minus the allowance for uncollectible accounts which was given as $37,000.

= $1,100,000 - $37,000

= $1,063,000

7 0
3 years ago
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