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Mars2501 [29]
2 years ago
10

Does the business able to make the most out of the fixed asset?

Business
1 answer:
Ede4ka [16]2 years ago
7 0

Answer: Fixed assets are long-term items that add value to your business. They are tangible assets that you do not expect to convert into cash in less ... asset because you want to convert it into cash as fast as possible. ... You must keep up with maintenance schedules to get the longest life out of your fixed assets.

Explanation: PLEASE GIVE BRAINLIST

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When Yahoo! develops new online services, the company develops a version of the service and shows it to customers. It solicits i
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Correct Option is B (Rapid Prototyping)

Explanation:

Correct Option is B (Rapid Prototyping)

Rapid Prototyping is a technique which is used to test a new technology or hypothesis by giving it to the customer. Customer then use the product and provide feedback. From the customer feedback, changes are made according to the requirement and the feedback provided by the customer.

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Juanita is deciding whether to buy a dress that she wants, as well as where to buy it. Three stores carry the same dress, but it
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Described below are certain transactions of Pina Corporation. The company uses the periodic inventory system. 1. On February 2,
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Answer:

Question: From the details given, make all the journal entries necessary to record the transactions above using appropriate dates.

                                  Pina Corporation

                                   Journal Entries

Date                          Details                                    Debit               Credit

                                                                                    $                       $

February 2              Purchases                               62,034

                               Accounts Payable                                            62,034

Being credit purchase of goods at discount of 2%

February 26           Accounts Payable                   62,034

                               Purchase - Discount                  1,266

                               Cash                                                                 63,300  

Being payment made for goods purchased

April 1                      Vehicle                                      52,000

                                Cash                                                                   3,000

                                10% 1-year Note payable                                49,000

Being purchase of vehicle by part cash, part note-payable

May 1                       Cash                                            82,900

                                Note Payable - Discount             9,600

                                1-year Note payable                                         92,500

Being borrowing from bank

August 1                   Dividend                                     280,000

                                 Dividend Payable                                            280,000

Being dividend declared, not yet paid

September 10           Dividend Payable                      280,000

                                  Cash                                                                280,000

Being cash payment of dividend

Explanation:

a) 2/10, n/30 means that the buyer is to pay within 30 days but is entitled to 2% discount if the purchase is paid for in 10 days. Since Pina records at net amounts after cash discount

To record this purchase = 63,300 * 0.02 = 1,266

                                        = 63,300 - 1266 = $62,034

b) Since payment was made on 26th, it means the 10 day discount was not utilized hence Pina pays full price for the goods

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