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kodGreya [7K]
3 years ago
5

During the prior fiscal year, lindon inc. signed a long-term noncancellable purchase commitment with its primary supplier to pur

chase $1.7 million of raw materials. lindon paid the $1.7 million to acquire the raw materials when the raw materials were only worth $1.4 million. assume that the purchase commitment was properly recorded. what is the journal entry to record the purchase?
Business
1 answer:
Nata [24]3 years ago
3 0
In this item, since the purchase has been made and that it was due to the agreement that that said amount is paid rather than a smaller one, the element that should be taken to the journal should be $1.7 in cash out column. The money is used to pay the liability. In this manner, the corporation will not have the need to physical call on someone to explain when the numbers in the journal do not match. 
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Answer:

The correct answer is predatory pricing.

Explanation:

When we speak of the legal right "defense of free competition", what we are referring to, in very simple words, is a field of law that seeks to safeguard that competition in the markets occurs "in good and sound fashion", this it is, without cheating, fraud or other "abusive" devices that are apt to achieve, maintain or increase the market power of those who execute them, thereby damaging the collective well-being of the economic agents participating in those markets (and not only the of the individuals directly involved in a certain transaction).

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3 years ago
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All of the following are ways to calculate different versions of ROI​ except: A. Return on sales x investment turnover B. Income
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Answer:

The answer is D

Explanation:

The formula - Revenues​ / Total Assets is not one of the ways to calculate Return on Investment (ROI)

Return on Investment (ROI) is a ratio

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The numerator must be profit while the denominator must be related to cost of Investment.

In all of the options, it is only option D that has revenue(sales) as the numerator which makes it automatically wrong.

7 0
3 years ago
A manager is concerned that there isn’t enough time spent on production and too much time spent on setups. The manager decides t
Katarina [22]

The impact would be that the average size of the inventory will increase.

If the manager has decided to double the production batch size then the average size of the inventory will also increase.

<h3>What is an inventory? </h3>
  • In general terms an inventory refers to all the goods, items, products, which are a part of the business organization.
  • For different industries the inventories have different meanings.
  • Manufacturing industry: the inventory is not only the finished or the final product but also the raw materials are included.
  • Service industry: the inventory of the service industry includes the steps involved in the sales of the product.
  • Raw materials, finished goods, work that is in process etc.. all of this is inventory.
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To learn more about inventory visit:  brainly.com/question/14179825?

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6 0
2 years ago
Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in it
Marina86 [1]

Answer:

The cost of units transferred out during the month was:$ 99980

Explanation:

Mundes Corporation

Current Costs Added

Units Transferred  Costs $ 90480

Materials =8700 * $ 4.7= $ 40890

Conversion= 8700* $5.70= $ 49590

Costs from Preceding Department (WIP beginning Inventory)= $ 9500

Total Costs= Costs Added + Costs from Preceding Department

                  = $ 90480+ $ 9500= $ 99980

The Costs of units transferred out is $ 99980

The current costs are added to the preceding costs to get the total costs of the units transferred out.

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3 years ago
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<span>When it comes to saving money, what is a good rule of thumb?

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