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Readme [11.4K]
2 years ago
7

In the books of seller, is deducted from the invoice price when the buyer pays earlier or on the date/term stipulated

Business
1 answer:
Nutka1998 [239]2 years ago
7 0

Answer:

In the books of seller, cash discount is deducted from the invoice price when the buyer pays earlier or on the date/term stipulated

Explanation:

  • An early payment discount or cash discount is the reduction in invoice price due to payment before the due date.
  • A number of factors should be considered to see how much discount should be provided . Some of them are: check the cash discount offered by competitors, and check the payment history of the customer.
  • This strategy helps close the gap in cash flow and boost the working capital.
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is the organization providing a charitable or public service? if so, what is it? will the company still have profit to motive?
deff fn [24]
Here is the answer to your question
Hope it helps!

4 0
2 years ago
Rodriguez Company pays $363,285 for real estate with land, land improvements, and a building. Land is appraised at $198,000; lan
Irina18 [472]

Answer:

1.Land $163,478

Land Improvement $54,493

Building $145,314

2.Dr Land $163,478

Dr r Land Improvement $54,493

Dr Building $145,314

Cr Cash $363,285

Explanation:

1. Calculation to Allocate the total cost among the three assets

First step is to Add up all expenditure costs Total Expenditure costs =$198,000+$66,000+$176,000

Total Expenditure costs =$440,000

Second step is to divide each expenditure up by the total amount

Land=($198,000/$440,000= 0.45)

Land improvement=($66,000/$440,000= 0.15)

Building=($176,000/$440,000= 0.40)

Now let Allocate the total cost among the three assets

Land=0.45* $363,285

Land = $163,478

Land improvement=0.15*$363,285

Land Improvement=$54,493

Building=0.40*$363,285

Building=$145,314

Total $363,285

($163,478+$54,493+$145,314)

Therefore the total allocation cost among the three assets is:

Land $163,478

Land Improvement $54,493

Building $145,314

2. Preparation of the journal entry to record the purchase

Dr Land $163,478

Dr r Land Improvement $54,493

Dr Building $145,314

Cr Cash $363,285

(To record purchase)

3 0
3 years ago
Prepare a multiple-step income statement for Armstrong Co. from the following data for the year ended December 31. Sales, $755,0
Tatiana [17]

Answer:

See explanation

Explanation:

                       Armstrong Co.

          Multi-step Income Statement

  For the year ended, December 31, 20YY

Sales                                              $755,000

<u>Less: Cost of merchandise sold   (330,000)</u>

Gross Profit                                                    $425,000

Less: Operating expenses

Administrative expenses  $35,000

Selling expenses               $50,000

<em><u>Total operating expenses                               $85,000</u></em>

Income from operation                                 $340,000

Other revenue and expenses:

Rent Revenue                    $25,000

interest expense               ($30,000)

<u>Total other revenues (expenses)                      $(5,000)</u>

Income before taxes                                      $335,000

<u>Less: Income Tax                                                     0</u>

Net Income (loss)                                           $335,000

That is the appropriate way to prepare a multi-step income statement

3 0
2 years ago
Read this selection from the opening of an application message, and then answer the corresponding question.
DiKsa [7]

Answer:

Be more specific with your skill-set for the job.

Explanation:

Most of the people like to describe briefly their skills, but they do it with no details. I mean, to get attention from the owner of the company, or the manager, you need to say, since the beginning, why are you the right person for the job, because everybody says they are good for it.

In addition to it, you should explain your experience for the job and your achievements as a professional in the field.

4 0
2 years ago
What are the features of banking and non banking financial institutions​
Dmitry_Shevchenko [17]
Well this may not be me answering it but this guy is a lot of help tho

5 0
3 years ago
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