Answer:
Explanation:
The accounting equation is presented below:
Particulars Assets = Liabilities = Stockholders equity
Cash Supplies Account payable Retained earnings
1. Service
Performed $20,000 $20,000
2. Supplies
Purchased $4,000 $4,000
3. Supplies
Used -$3,000 -$3,000
Total $20,000 $1,000 $4,000 $17,000
The purchase amount that Icon Co. would record on April 2 would be: <u>c. $4,000</u>.
<h3>What is the purchase amount to be recorded?</h3>
The purchase amount that should be recorded on the date of purchase is the amount of the transaction. This does not take into account the return and discount which happened later.
This implies that Icon Co. will reduce the purchase amount on April 4 when half of the goods were returned with a contra entry. And discount will be based on the balance of $2,000 instead of $4,000.
<h3>Data and Calculations:</h3>
Purchase on April 2 = $4,000
Purchases Return on April 4 = $2,000
Thus, the purchase amount that Icon Co. would record on April 2 would be: <u>c. $4,000</u>.
Learn more about recording credit purchases at brainly.com/question/5651500
The desire for a produsct class rather than for a specifik brand is called selective demand
Answer:
Is irrelevant in decision making
Explanation:
Since the suck cost is the cost that no longer is recovered so it should not be a factor to consider when making a decision. For example, you have bought a cinema ticket for this evening, but it is heavily rainy so you may get sick if you go to the cinema. The fact that you have paid for this ticket should not consider whether to go or stay home since you can not get this amount of money no matter what happens.
