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3 years ago

6

Sharon was debating whether she should open an account with a savings and loan association or with a credit union. She decided t

hat the savings and loan association was best for her. What could have been a reason that she opted for the savings and loan association?

1 answer:

Yakvenalex [24]3 years ago

8 0

The interest rate might have been higher.

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The following income statement and balance sheets for Virtual Gaming Systems are provided.

Naddika [18.5K]

Answer:

gross profit ratio = gross profit / net sales = $1,126,000 / $3,086,000 = 36.49%

return on assets = net income / total assets = $139,000 / $946,000 = 14.69%

profit margin = net income / net sales = $139,000 / $3,086,000 = 4.5%

asset turnover = net sales / average total assets = $3,086,000 / [($946,000 + $794,200) / 2] = 3.55 times

return on equity = net income / shareholders' equity = $139,000 / $547,000 = 25.41%

price earnings ratio = current sock price / earnings per share = $28.30 / $1.40 = 20.21 times

7 0

3 years ago

Merchandising transactions.

Alexandra [31]

Journalizing the transactions for the month of July for ABC Company using the perpetual and periodic inventory systems is as follows:

<h3>Journal Entries under the Perpetual Method:</h3>

July 1: Debit Inventory Birr 72,000

Credit Accounts Payable (XYZ Manufacturers) Birr 72,000

FOB destination, terms 2/10, n/30. The merchandise has a list price of Birr 150 per unit with a trade discount of 20%.

July 3: Debit Accounts Receivable (Satchel World) Birr 8,200

Credit Sales Revenue Birr 8,200

Debit Cost of goods sold Birr 5,400

Credit Inventory Birr 5,400

July 9: Debit Accounts Payable (XYZ Manufacturers) Birr 72,000

Credit Cash Birr 70,560

Credit Cash Discounts Birr 1,440

July 12: Debit Cash Birr 8,200

Credit Accounts Receivable (Satchel World) Birr 8,200

July 17: Debit Accounts Receivable (Lady GoGo) Birr 6,210

Credit Sales Revenue Birr 5,400

Credit Sales Tax Payable Birr 810

Subject to a sales tax of 15%.

Debit Cost of goods sold Birr 4,030

Credit Inventory Birr 4,030

July 18: Debit Inventory Birr 3,900

Credit Accounts Payable (Holiday Manufacturers) Birr 3,900

FOB shipping point, terms 1/10, n/30.

Debit Freight-in Birr 750

Credit Cash Birr 750

July 20: Debit Accounts Payable (Holiday Manufacturers) Birr 900

Credit Inventory Birr 900

For merchandise returned to Holiday Manufacturers.

July 21: Debit Cash Birr 6,210

Credit Accounts Receivable (Lady GoGo) Birr 6,210

July 22: Debit Accounts Receivable (Vagabond) Birr 6,400

Credit Sales Revenue Birr 6,400

Debit Cost of goods sold Birr 4,300

Credit Inventory Birr 4,300

July 30: Debit Accounts Payable (Holiday Manufacturers) Birr 3,000

Credit Cash Birr 3,000

July 31: Debit Sales Returns Birr 400

Credit Accounts Receivable (Vagabond) Birr 400

Debit Inventory Birr 280

Credit Cost of goods sold Birr 280

For merchandises returned costing Birr 280.

<h3>Journal Entries under the Periodic Method:</h3>

July 1: Debit Purchases Birr 72,000

Credit Accounts Payable (XYZ Manufacturers) Birr 72,000

FOB destination, terms 2/10, n/30. The merchandise has a list price of Birr 150 per unit with a trade discount of 20%.

July 3: Debit Accounts Receivable (Satchel World) Birr 8,200

Credit Sales Revenue Birr 8,200

July 9: Debit Accounts Payable (XYZ Manufacturers) Birr 72,000

Credit Cash Birr 70,560

Credit Cash Discounts Birr 1,440

July 12: Debit Cash Birr 8,200

Credit Accounts Receivable (Satchel World) Birr 8,200

July 17: Debit Accounts Receivable (Lady GoGo) Birr 6,210

Credit Sales Revenue Birr 5,400

Credit Sales Tax Payable Birr 810

Subject to a sales tax of 15%.

July 18: Debit Purchases Birr 3,900

Credit Accounts Payable (Holiday Manufacturers) Birr 3,900

FOB shipping point, terms 1/10, n/30.

Debit Freight-in Birr 750

Credit Cash Birr 750

July 20: Debit Accounts Payable (Holiday Manufacturers) Birr 900

Credit Purchases Return Birr 900

For merchandise returned to Holiday Manufacturers.

July 21: Debit Cash Birr 6,210

Credit Accounts Receivable (Lady GoGo) Birr 6,210

July 22: Debit Accounts Receivable (Vagabond) Birr 6,400

Credit Sales Revenue Birr 6,400

July 30: Debit Accounts Payable (Holiday Manufacturers) Birr 3,000

Credit Cash Birr 3,000

July 31: Debit Sales Returns Birr 400

Credit Accounts Receivable (Vagabond) Birr 400

<h3>Transaction Analysis under the Perpetual Method:</h3>

July 1: Inventory Birr 72,000 Accounts Payable (XYZ Manufacturers) Birr 72,000

FOB destination, terms 2/10, n/30. The merchandise has a list price of Birr 150 per unit with a trade discount of 20%.

July 3: Accounts Receivable (Satchel World) Birr 8,200 Sales Revenue Birr 8,200

Cost of goods sold Birr 5,400 Inventory Birr 5,400

July 9: Accounts Payable (XYZ Manufacturers) Birr 72,000 Cash Birr 70,560 Cash Discounts Birr 1,440

July 12: Cash Birr 8,200 Accounts Receivable (Satchel World) Birr 8,200

July 17: Accounts Receivable (Lady GoGo) Birr 6,210 Sales Revenue Birr 5,400 Sales Tax Payable Birr 810

Subject to a sales tax of 15%.

Cost of goods sold Birr 4,030 Inventory Birr 4,030

July 18: Inventory Birr 3,900 Accounts Payable (Holiday Manufacturers) Birr 3,900 FOB shipping point, terms 1/10, n/30.

Freight-in Birr 750 Cash Birr 750

July 20: Accounts Payable (Holiday Manufacturers) Birr 900 Inventory Birr 900 For merchandise returned to Holiday Manufacturers.

July 21: Cash Birr 6,210 Accounts Receivable (Lady GoGo) Birr 6,210

22: Accounts Receivable (Vagabond) Birr 6,400 Sales Revenue Birr 6,400

Cost of goods sold Birr 4,300 Inventory Birr 4,300

July 30: Accounts Payable (Holiday Manufacturers) Birr 3,000 Cash Birr 3,000

July 31: Sales Returns Birr 400 Accounts Receivable (Vagabond) Birr 400

Inventory Birr 280 Cost of goods sold Birr 280

For merchandises returned costing Birr 280.

<h3>Transaction Analysis under the Periodic Method:</h3>

Similar with some minor differences.

Learn more about journalizing business transactions at brainly.com/question/17201601

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5 0

3 years ago

Though the trade and sale of slaves continued to be legal inside the United States until the Civil War, the "slave trade"—that i

Alika [10]

Answer:

Slave trade in the United States was made illegal in march 2, 1807, by the Act Prohibiting Importation of Slaves, and the law took effect in 1808. This law prohibited the importation of saves into the US. President Thomas Jefferson was the promoter of the law, and he had advocated for this law since the 1770s.

The first law banning US ships from participating in slave trade was the Slave Trade Act of 1794, with some colonies, like Virginia, banning slave trade even earlier.

3 0

4 years ago

Which of the following is an example of a broken job-role stereotype? A female forest ranger A female secretary A male architect

Marianna [84]

Answer:

A female secretary

Explanation:

3 0

3 years ago

A licensed sales associate who works for a property management company informs a client that the associate has found a tenant fo

sukhopar [10]

Answer:

The question that was asked by the client from the licensed sales associate about the possible tenant was a racist question. It clearly depicts the racist behavior. This question also shows that the client will make a decision based on the color of the skin. The decision could be based on whether he wants to rent the house or not or changes in the charging manual of the house.

I hope the answer was helpful.

Thanks

6 0

3 years ago