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kari74 [83]
2 years ago
15

The Consumer Electronics Show (CES) reports that the HP Spectre laptop computer starts at $994.00 for a base configuration. The

model displayed at its recent show costs $1,353, $118 more than the comparable 13-inch Apple MacBook Air. If Computers-R-Us buys the HP Spectre at the show with 3/15, net 30 terms on August 26, how much does it need to pay on September 9
Business
1 answer:
e-lub [12.9K]2 years ago
4 0

Answer: $1312.41

Explanation:

The following information can be depicted from the question:

Cost of HP Spectre laptop = $1353

Credit terms = 3/15, net 30

Therefore, since discount allowed is 3%, the complement of the discount rate will be:

= 100% - 3%

= 97%

Therefore, amount needed to pay will be:

= Listed price × Complement of discounts rate

= $1353 × 97%

= $1353 × 0.97

= $1312.41

Therefore, the amount needed to pay is $1312.41

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Furthermore, financial assets that get their value from contractual claims, such as stocks and bonds, are regarded as tangible assets.

An asset that is not physical in nature, such as a patent, brand, trademark, or copyright, is referred to as an intangible asset.

Intangible assets can be produced or purchased by businesses.

An intangible asset may be seen as definite or indefinite, such as a contract or legal arrangement (for example, a brand name).

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3 0
2 years ago
Which of the following is true?
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Which of the following is true?

b.

net cash flow + cash outflow = cash inflow

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Observing the above explanation, B Seems like the correct Option.

8 0
3 years ago
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In the beginning, a low base salary for the owner, with a bonus at the break-even point is?
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Answer:

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7 0
3 years ago
Understanding the Resource Allocation Process (RAP) will have large effects on shaping a firm'srealized strategy. Which of the f
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The correct answer is D Intel's rule to "maximize margin-per-wafer-start"

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4 0
3 years ago
Exercise 4-10 Preparing adjusting and closing entries for a merchandiser LO P3 The following list includes selected permanent ac
Nataly [62]

Answer:

Kumi Emiko Co.

a) Adjusting Journal Entries:

Debit Sales Salaries expense $1,800

Credit Sales Salaries Payable $1,800

To record accrued sales salaries.

Debit Selling expense $2,900

Credit Prepaid selling expense $2,900

To record expired selling expense.

Debit Cost of goods sold $5,300

Credit Merchandise Inventory $5,300

To record determined shrinkage in merchandise inventory.

b) Closing Journal Entries:

Debit Sales revenue $ 609,000

Credit Sales returns and allowances $21,500

Credit Sales discounts $7,000

Credit Income summary $580,500

To close the net sales revenue to the income summary.

Debit Income Summary $526,000

Debit:

Cost of goods sold             $257,300

Sales salaries expense          69,800

Utilities expense                    25,000

Selling expenses                   48,900

Administrative expenses    125,000

To close cost of goods sold and expenses to the income summary.

Debit Income Summary $54,500

Credit Retained Earnings $54,500

To close the income summary to retained earnings.

Debit Retained Earnings $53,000

Credit Dividends $53,000

To close the dividend to retained earnings.

Explanation:

a) Data and Calculations:

                                                    Debit       Credit

Merchandise inventory         $ 40,000

Prepaid selling expenses           7,600

Dividends                                 53,000

Sales                                                      $ 609,000

Sales returns and allowances 21,500

Sales discounts                          7,000

Cost of goods sold               252,000

Sales salaries expense          68,000

Utilities expense                    25,000

Selling expenses                   46,000

Administrative expenses    125,000

Analysis of additional Information:

Sales Salaries expense $1,800 Sales Salaries Payable $1,800

Selling expense $2,900 Prepaid selling expense $2,900

Cost of goods sold $5,300 Merchandise Inventory $5,300

Adjusted accounts:

                                                    Debit       Credit

Merchandise inventory         $ 34,700

Prepaid selling expenses           4,700

Dividends                                 53,000

Sales Salaries Payable                                   1,800

Sales                                                      $ 609,000

Sales returns and allowances 21,500

Sales discounts                          7,000

Cost of goods sold               257,300

Sales salaries expense          69,800

Utilities expense                    25,000

Selling expenses                   48,900

Administrative expenses    125,000

4 0
3 years ago
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