When an interviewer introduces a new topic area, she is using a

Transactions for Buyer and Seller Sievert Co. sold merchandise to Vargas Co. on account, $148,600, terms FOB shipping point, 2/1

g100num [7]

Answer:

Part a

Debit : Accounts Receivable - Vargas Co. $148,600

Debit : Cost of Sales $89,160

Credit : Sales Revenue $148,600

Credit : Merchandise $89,160

Part b

Debit : Freight Expenses $2,100

Credit : Cash $2,100

Part c

Debit : Cash $133,740

Debit : Discount allowed $14,860

Credit : Accounts Receivable - Vargas Co. $148,600

Explanation:

A corresponding cost of sales must be recorded each time a sale is made. The freight costs are company costs for Sievert Co. and will be expensed in the income statement.

The payment due is at 90 % after the discount of 10% given that the payment is made within the credit term of 30 days.

8 0

3 years ago

Massena Corporation reported the following data for the month of February:

Elodia [21]

Answer:

$186,700

Explanation:

The computation of adjusted cost of goods sold is shown below:-

Before that we need to do the following calculations

Raw material consumed = Beginning raw material + Raw material purchases - Ending raw materials - Raw materials included in manufacturing overhead costs as indirect materials

= $40,000 + $63,000 - $24,000 - $5,000

= $74,000

Total manufacturing cost = Beginning work in progress + Raw material consumed + Direct labor cost + Manufacturing overhead cost - Ending work in progress

= $23,000 + $74,000 + $73,700 + $48,000 - $17,000

= $201,700

Unadjusted Cost of goods sold = Raw materials + Total manufacturing cost - Ending finished goods

= $50,000 + $201,700 - $72,000

= $179,700

Adjusted COGS = Unadjusted Cost of goods sold + Underapplied overhead

= $179,700 + ($55,000 - $48,000)

= $179,700 + $7,000

= $186,700

6 0

3 years ago

Which of the following is true regarding positive organizational scholarship? a. It involves monitoring negative practices in or

Harrizon [31]

Answer:

Letter D is correct. It studies how organizations develop human strengths, foster vitality, and unlock potential

Explanation:

Positive Organizational Scholarship is a way for an organization to motivate and stimulate the capabilities of its employees. It is a way of identifying the strengths and weaknesses of each employee and encouraging them to improve their skills and developing new skills that will help them to succeed. joint result of the company.

5 0

3 years ago

Why has America been referred to as " the land of opportunity"?

kozerog [31]

Same as with Canada which is where both my grandfathers came from. Let's see how many reasons I can come up with just off the top of my head and just for those two.

They enjoyed the freedom of the First Amendment (speech, press, religion, assembly -- Canada has the same provision) that was not granted in the country they left. They never exercised those rights, I don't think, but their children and grandchildren did.
They were free to raise their children so that they had the chance of being productive. My father was an MD, but he owed that piece of good fortune to his father. The country from which they came would never have allowed him to get all that education.
They were able to eventually bring their wives and children with them. There was enough money to be made, even at jobs that didn't pay much, to bring them across the Atlantic.
They were able, once the families were here, to turn their attention to bettering their conditions. They never became rich, but no one starved either. That's more than could be said about those relatives who didn't do as they did.
They were free to travel. They didn't do that, but their children and especially their grandchildren did. That too was very limited where they came from.
They had medical care and good medical care which was not given to just anyone where they came from.

3 0

3 years ago

Read 2 more answers

Phildell Phoenix is paid monthly. For the month of January of the current year, he earned a total of $8,288. The FICA tax rate f

AysviL [449]

Answer:

Total deduction 2,443.21

Explanation:

8,288

x 6.20% Sccial Security 513.856

x 1.45% Medicate 120.176

x 6.20% FUTA&SUTA (for 7,000) 434

Income tax witheld 1,375.17

Total deduction 2,443.21

We will multiply his taxable wages for period by the tax rate.

We must noticew FUTA and SUTA applies fdor the first 7,000 only so we multiply by 7,000 not by 8,288

3 0

4 years ago