1. If you were a manager conducting a job interview to applicants and you encountered the following querries

On June 5, a company purchases 280 units of inventory on account for $28 each. After closer examination, the company determines

fgiga [73]

Answer:

June 5, 202x, 280 units purchased on account

Dr Merchandise inventory 7,840

Cr Accounts payable 7,840

280 units x $28 per unit = $7,840

June 9, 202x, 30 defective units are returned

Dr Accounts payable 840

Cr Merchandise inventory 840

30 units returned, so accounts payable decreases by 30 x $28 = $840

June 16, 250 units sold on account

Dr Accounts receivable 12,750

Cr Sales revenue 12,750

Dr Cost of goods sold 7,000

Cr merchandise inventory 7,000

250 units sold at $51 = $12,750

COGS = 250 units x $28 = $7,000

7 0

3 years ago

If $800 is borrowed at 8% interest, find the amounts due at the end of 4 years if the interest is compounded as follows. (Round

Alisiya [41]

Answer:

(i) $133.12

(ii) $297.6

(iii) $300.8

(iv) $301.6

Explanation:

From the compounding formula;

Future value = Present value $(1+\frac{r}{m}) ^{mn}$

where r is the rate, m is the number of payment per year, and n is the number of years.

Interest = future value - present value

Given that present value = $800, r = 8%, n = 4 years.

(i) annually,

m = 1, so that;

Future value = 800 $(1.08)^{4}$

= $933.12

Interest = $933.12 - $800

= $133.12

(ii) quarterly,

m = 3, so that;

Future value = 800 $(1+\frac{0.08}{3}) ^{(4x3)}$

= 800(1.372)

= $1097.6

Interest = $1097.6 - $800

= $297.6

(iii) monthly,

m = 12, so that;

Future value = 800 $(1+\frac{0.08}{12}) ^{(4x12)}$

= 800(1.376)

= $1100.8

Interest = $1100.8 - $800

= $300.8

(iv) weekly,

m = 54, so that;

Future value = 800 $(1+\frac{0.08}{54}) ^{(4x54)}$

= 800(1.377)

= $1101.6

Interest = $1101.6 - $800

= $301.6

4 0

3 years ago

The price elasticity of demand measures the: A. responsiveness of quantity demanded to a change in quantity supplied. B. respons

pickupchik [31]

Answer:

Option "B" is the correct answer to the following statement.

Explanation:

The price elasticity of demand determines the flexibility of the volume needed to adjust the price.

The demand of an individual or market becomes inelastic if it will not adjust much to increasing prices, and it is elastic for an individual or market if the demand of a particular commodity will shift a lot as prices shift.

6 0

3 years ago

The drawee is the

IRINA_888 [86]

Answer:

C

Explanation:

The drawee is the bank with which the drawer has an account.

8 0

2 years ago

Cemex, the largest cement producer in Mexico: a) is an insignificant competitor outside its home market. b) has only expanded in

elixir [45]

Answer:

The correct answer is C. Cemex, the largest cement producer in Mexico, generates about half of its income from outside Mexico.

Explanation:

CEMEX is an international company for the construction industry, which offers products and services to clients and communities in more than 50 countries around the world. The Mexican company holds the third place in world sales of cement and is the main producer of ready-mix concrete, with a production capacity of approximately 77 million tons per year, serving the markets of America, Europe, Asia, Africa and the Middle East. 50% of the company's sales come from its operations in Mexico, 25% of its plants in the United States, 15% from Spain, and the rest from its plants in other parts of the world.

7 0

3 years ago