1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
finlep [7]
2 years ago
12

On June 5, Staley Electronics purchases 120 units of inventory on account for $15 each, with terms 1/10, n/30. Staley pays for t

he inventory on June 12. 2. Assume payment is made on June 22. Record the payment on account assuming the company uses a perpetual inventory system.
Business
1 answer:
Elenna [48]2 years ago
6 0

Answer:

Staley Electronics

Journal Entries:

June 12:

Debit Accounts Payable $1,800

Credit Cash Account $1,782

Credit Cash Discount $18

To record the payment on account.

June 22:

Debit Accounts Payable $1,800

Credit Cash Account $1,800

To record the payment on account.

Explanation:

a) Data and Calculations:

June 5 Inventory purchase of 120 units at $15 each = $1,800

Trade terms = 1/10, n/30

The trade terms imply that Staley receives 1% cash discount if it pays for the inventory before 10 days, but can enjoy a credit period of 30 in total.

You might be interested in
Project A as well as project B require an initial investment of $1,050,000, have a 6-year life, and have expected total cash inf
miss Akunina [59]

Answer:

Proposal A

3.75 years

Proposal B

3.375 years

Explanation:

<u>Proposal A</u>

Payback = 3.75 years

Year     Cash Inflow      Initial Investment Balance   Year Count

0                   0                         1,050,000                        

1                   $280,000           770,000                            1

2                  $280,000           490,000                           2

3                  $280,000           210,000                            3

4                  $280,000           0                                    *3.75

* 1050,0000 / 280,000 = 3.75 years

<u>Proposal B</u>

Payback = 3.375 years

Year     Cash Inflow      Initial Investment Balance   Year Count

0                   0                         1,050,000                        

1                   $350,000           700,000                            1

2                  $3150,000          385,000                           2

3                  $280,000           105,000                            3

4                  $280,000           0                                    *3.375

* ( 3 + ( 105,000 / 280,000 ) ) = 3.75 years

5 0
3 years ago
Dell, microsoft, and unisys corporation created a partnership to design a voting system for several u.s. states. this is an exam
sdas [7]
<span>This is an example of "Virtual organization".

A virtual organization is an association including disengaged and disseminated entities varying from representatives to whole enterprises, and requiring data innovation to help their work and correspondence. Virtual organizations don't represent an association's attribute yet can be considered as an alternate organizational form.
</span>
6 0
3 years ago
What are the practical consequences of a lack of strategic linkage between the business and the operations function? give exampl
Ivenika [448]
The practical consequences that result of lack strategic linkage between business and operations functions are it will know the organization if it is a success or a failure. The lack of linkage can also cause people trap and busy with all kinds of activities. For example, in the company, you work as a team and you have the quota but the people inside the team didn’t get the proper linkage so the team will fail the task that given to them because of lack of strategic linkage.
8 0
2 years ago
Which economic activity is part of a government's fiscal policy?
blagie [28]

Answer:

D. Spending tax revenues

Explanation:

Fiscal policies are the actions of the executive wing of the government to alter its spending and taxation strategies to achieve macroeconomic objectives. Fiscal policies are the activities of adjusting government spending and taxation in the economy.  

The government receives data on the state of the economy from various agencies.  The government adjusts its spending and taxes to influence the level of economic activities to achieve steady growth and stable prices.

5 0
2 years ago
Read 2 more answers
A rise in the domestic real interest rate would cause a ________ in net exports and a ________ in the exchange rate.
Kisachek [45]

A rise in the domestic real interest rate would cause a fall in net exports and a RISE  in the exchange rate.

In general, businesses and consumers spend less when interest rates are high. This is because borrowing money costs more when interest rates are high. As a result, companies frequently turn to the stock market to raise money, which can cause stock values to decline.

An increase in interest rates causes the local currency to appreciate. In comparison to domestic goods and services, import prices decline. Exports see a decline in profitability and competition. Exports decline while imports rise, reducing the net export portion of total demand and spending.

To learn more interest rate would cause a fall in net exports and a RISE  about:

brainly.com/question/28475254

#SPJ4

5 0
1 year ago
Other questions:
  • After meeting with your new client, you prepared his statement of financial position and pie charts. Which part of the financial
    11·1 answer
  • Which of the following is not an aspect of a menu's format?
    12·1 answer
  • To achieve cardiovascular endurance, it is recommended by the acsm that jill exercise at a moderate intensity at least ________
    11·1 answer
  • Doctors have been looking for a cure for which disease since 1981?
    5·1 answer
  • Marcelino Co.’s March 31 inventory of raw materials is $80,000. Raw materials purchases in April are
    12·1 answer
  • Dew Drop In, Inc. announces is quarterly dividend will increase from $3.80 to $4.00. After the announcement, the price of Dew Dr
    10·1 answer
  • If the exchange rate between the u.s. dollar and the Canadian dollar is 1:1.3, which of the following is true
    10·1 answer
  • The firm's efficient scale is the quantity of output that minimizesa. average total cost. b. average fixed cost. c. average vari
    8·1 answer
  • What types of new products could be targeted at low-income customers in emerging economies?
    10·2 answers
  • Suppose that a bank's actual reserves are $5 million, its checkable deposits are $5 million, and its excess reserves are $3 mill
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!