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aliya0001 [1]
3 years ago
11

Swifty Co. uses the gross method to record sales made on credit. On July 1, 2020, it made sales of 69,000 with terms 2/10 n/30.

On July 9, 2020, Swifty received full payment for the July 1 sale. Prepare the required journal entries for Swifty Co.
Business
1 answer:
wel3 years ago
4 0

Answer:

July 1, 2020

Debit  : Accounts Receivable $69,000

Credit : Sales $69,000

July 9, 2020

Debit  : Cash $62,100

Debit : Discount allowed $1,380

Credit : Accounts Receivable $69,000

Explanation:

Note : Remove the discount from final payment.

The required journal entries for Swifty Co have been prepared above.

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Maddie's shoe store donated hundreds of pairs of shoes to needy children at an inner city school. A news crew reported on the do
chubhunter [2.5K]

Answer:

publicity

Explanation:

Publicity involves creating an excellent reputation for a company's brand name. Publicly arises from positives messages from the media, and other sources such as the internet and word of mouth.  An organization engages in activities that create a good relationship with the media and the public to build the desired publicity.

Publicity messages are not paid for, unlike advertising.  In the case of Maddie, the business was engaged in a charitable event. The event was captured in the press, and Maddie brand name was mentioned, thus promoting its brand name.  

3 0
3 years ago
Sunlight Design Corporation sells glass vases at a wholesale price of $4.50 per unit. The variable cost to manufacture is $1.75
guapka [62]

Answer:

D) 5182 glass vases

Explanation:

<em>Contribution per glass vases:</em>

$4.5 selling price - $ 1.75 variable cost= 2.75

<em>Operating income:</em>

29,000 units x $ 2.75 - $ 8,500 = $71,250 operating income

<em>Target income is to obtain a 20% increase:</em>

71,250 x (1 + 20%) = 85,500 target income:

<em>units needed for target income:</em>

(85,500 target income + 8,500 fixed cost) / 2.75 contribution per unit= 34.181,81

aditional glass vases needed for target income:

34,182 - 29,000 = 5,182

3 0
2 years ago
one reason a company might prefer FDI over exporting. presence or threat of trade barriers costs of acquiring a foreign enterpri
kkurt [141]

Answer:

Presence or threat of trade barriers

Explanation:

If a company sees that a specific country has a presence or threat of trade barriers, the company will prefer to invest directly in foreign companies, instead of exporting.

This is because trade barriers, like tariffs or import quotas, will likely reduce the potential revenue that the company would get from exporting. It could reduce revenue so much as to make the company lose money.

8 0
2 years ago
Bert's Car Sales is a new firm that is still in a period of rapid growth. The company plans on retaining all of its earnings for
DaniilM [7]

Answer:

The correct choice is C)

The most logical thing to do would be to calculate the value of the stock in 5 years time.

Explanation:

This speaks to ones understanding of dividend growth stock valuation models. These tools are used to establish a fair value for a stock by discounting the present value of its future dividends. A commonly used model is the constant growth dividend discount model.

The formula for the DDM, which assumes constant growth in dividends, is provided below.

P0 = D1/(r-g)

Where,

P0 = intrinsic value of stock

D1 = dividend payment one year from today

r = discount rate

g = growth rate

Identifying the correct answer entails establishing a timeline of the expected cash flows. We are given the following information:

t0 = $0

t1 = $0

t2 = $0

t3 = $0

t4 = $0

t5 = $0.20

t6 = $0.20 * 1.035

Given a rate of return, we could use the constant growth dividend discount model to establish the fair value of the firm at t5 (five years from today). Incidentally, to determine today's value, we'd discount it back another five years.

Based on the information above,  we are able to prove that the answer is '5'.

Cheers!

3 0
3 years ago
Riverside Ranch is a horse breeding facility. Dynasty Stables is a customer looking for a new stallion for its breeding program.
marshall27 [118]

Answer: a. an express warranty

Explanation:

An EXPRESS WARRANTY refers to spoken or written promises or guarantees made by the seller about the performance of a product when negotiating with a buyer.

For example, "this product is guaranteed against wear and tear for at least 2 years".

Roy Mustang in this scenario made an explicit promise about the effectiveness of the Stallion and as such that constitutes an EXPRESS warranty.

It is worthy of note that for Express Warranties, the word Warranty does not even need to be included for the promise to be a warranty.

5 0
2 years ago
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