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emmainna [20.7K]
2 years ago
11

The following were selected from among the transactions completed by Babcock Company during November of the current year:

Business
1 answer:
Deffense [45]2 years ago
4 0

Answer:

Babcock Company

Journal Entries:

Nov. 3:

Debit Inventory $63,750

Credit Accounts Payable (Moonlight Co.) $63,750

To record the purchase of merchandise, terms FOB, destination, 2/10, n/30.

Nov. 4:

Debit Cash $37,680

Credit Sales Revenue $37,680

To record the sale of merchandise for cash.

Nov. 4:

Debit Cost of Goods Sold $22,600

Credit Inventory $22,600

To record the cost of merchandise sold.

Nov. 5:

Debit Inventory $47,500

Credit Prepaid Freight-in $810

Credit Accounts Payable (Papoose Creek Co.) $46,690

To record the purchase of merchandise, terms, FOB shipping point, 2/10, n/30

Nov. 6:

Debit Accounts Payable (Moonlight Co.) $13,500

Credit Inventory $13,500

To record the return of merchandise.

Nov. 8:

Debit Accounts Receivable (Quinn Co.) $15,600

Credit Sales Revenue $15,600

To record the sale of merchandise on account, terms n/15.

Nov. 8:

Debit Cost of Goods Sold $9,400

Credit Inventory $9,400

To record the cost of merchandise sold.

Nov. 13:

Debit Accounts Payable (Moonlight Co.) $50,250

Credit Cash Discount $1,005

Credit Cash $49,245

To record the payment on account.

Nov. 14:

Debit VISA account $236,000

Credit Sales Revenue $236,000

To record the sale of merchandise on VISA.

Nov. 14:

Debit Cost of Goods Sold $140,000

Credit Inventory $140,000

To record the cost of merchandise sold.

Nov. 15:

Debit Accounts Payable (Papoose Creek Co.) $46,690

Credit Cash Discount $934

Credit Cash $45,756

To record the payment on account.

Nov. 23:

Debit Cash $15,600

Credit Accounts Receivable (Quinn Co.) $15,600

To record the receipt of cash on account.

Nov. 24:

Debit Accounts Receivable (Rabel Co.) $56,900

Credit Sales Revenue $56,900

To record the sale of merchandise on account, terms 1/10, n/30.

Nov. 24:

Debit Cost of Goods Sold $34,000

Credit Inventory $34,000

To record the cost of goods sold.

Nov. 28:

Debit VISA Service Fee $3,540

Credit Cash $3,540

To record the payment of VISA service Fee.

Nov. 30:

Debit Sales Returns $6,000

Credit Cash $6,000

To record the cash refund for returned merchandise.

Nov. 30:

Debit Inventory $3,300

Credit Cost of Goods Sold $3,300

To record the cost of inventory returned.

Explanation:

The above journal entries initially record the transactions of Babcock Company in November.  Here, the accounts involved in each transaction are identified, debited, and credited as the case may be.

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Answer and Explanation:

A. Toothpaste brand: Toothpaste is a commonly used, inexpensive, and very popular product. These decisions are governed mainly by the reference group such as family , friends or primary group with whom a student has regular face to face experiences. Hence the purchase decision is affected by a low degree of comparison community.

B. Buying a hybrid car: A hybrid car is sometimes described as expensive and luxury products. It's moreover a non-necessity commodity for a college student. These decisions are therefore usually affected by secondary community. And a high degree of control in the comparison community will only inspire a student to buy a car.

C. Buying cereal for breakfast: This is a simple requirement of a lifetime. Therefore, even without consulting any reference group a student can buy such product. Often such transactions are rules by family group control. So it needs a low degree of control.

D. Becoming a vegetarian: It takes a high degree of influence and motivation to become a vegetarian.

Thus the aspirational group influences a student. So they opt for vegetarianism to become part of such a community. Such decision taking involves a high degree of control.

E. Option of a computer tablet like the iPod: these products are a luxury commodity sold at regular prices. Typically refer to their families , friends, magazines before making a purchase student to get an idea about the output and price of these products. These goods are the weak product with a strong brand and a strong purchase is controlled by a strong reference community impact.

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3 years ago
Donovan manages a warehouse with over 1,000 associates performing a variety of tasks. After walking through the building talking
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These are the options:

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B. by instructing his teams to create mission statements with clearly defined goals

C. by making all employees trade jobs for several weeks so they have more in common

D. by increasing the dependence of the teams on each other so all tasks share common goals

E. by giving each worker a set amount of time to find out what their goals should be or face discipline

From the question, we will realize that Donovan learned that just few of the workers in the company share any sense of common goals within teams as there was He notes disparity in what the workers were doing and the goals to be accomplished.

Based on the above scenario, he should instruct his team to create mission statement that has clearly defined goals. The mission statement will show the reason for the existence of the organization, the goal of the organization, the kind of product or service rendered etc. This will help the workers know what is expected from all of them and work towards it.

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Jane Doe, who has substantial personal wealth and income, is considering the possibility of starting a new business in the chemi
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Answer: The correct answer is "S corporation, to gain some tax advantages and also to obtain limited liability. ".

Explanation: S corporation is the legal form of business organization that probably adapts best to her needs because it would be a great advantage to have tax benefits and in turn limit the liability only to the capital contributed, this means that to meet your obligations you only respond with capital from the company and not with Jane's own assets.

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Lindsay​ Electronics, a small manufacturer of electronic research​ equipment, has approximately 6 comma 800 items in its invento
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Answer:

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B items:

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Units to be counted everyday:

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Answer:

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