Answer:
a. Dr Inventory $10,000
Cr Accounts payable $10,000
b. Dr Accounts payable $10,000
Cr Cash $9,800
Cr Inventory $200
Explanation:
Preparation of the Journal entries Under a perpetual inventory system,
a. Dr Inventory $10,000
Cr Accounts payable $10,000
( To record purchase of merchandise)
b. Dr Accounts payable $10,000
Cr Cash $9,800
($10,000-$200)
Cr Inventory $200
(2%*$10,000)
( To record payment for merchandise)
Discount amount = Amount due x Discount percentage
Discount amount= 10,000 x 2/10
Discount amount= $200
Answer:
The correct answer is B
Explanation:
Contract Law is the law or an agreement among the private parties establishing the mutual obligations which is enforceable by law. The basic or primary elements are required for the agreement or contract to be legally enforceable agreement are expressed by a acceptance and valid offer, legality, mutual assent and adequate consideration.
The two most vital sources of the contact law are Statutory Law (The Uniform Commercial Code) and the Case law.
Answer:
D. it helped artists, scientists, and journalists communicate in a new way.
Explanation:
The invention of photography helped in preserving the images and storing them for the future. Photography helped in the creation of a new medium of communication. The movement led towards the development in the field of history, science, art, and industry. The information can be archived and stored. Also, photography led to the new way of perceiving things from the eyes of the photographer and the journalists. It gave a new outlook to the artists to present their art forms.
Answer :
<em>The expected standard deviation of both stock is 3.324% and 1.53%</em>
Explanation:
<em>The first step is to compute the expected value and the standard deviation of each stocks.</em>
<em>Kindly find an attached image of the solution to this example given.</em>
Answer:
Jay Pembroke Company
Balance Sheet as of April 30
Assets:
Cash $12,950
Accounts Receivable 2,000
Office Supplies 4,600
Prepaid Insurance 1,200
Total assets $20,750
Liabilities:
Accounts Payable $300
Jay Pembroke, Capital 20,450
Total liabilities + equity $20,750
Explanation:
a) Data and Calculations:
Assets:
Cash $12,950
Accounts Receivable 2,000
Office Supplies 4,600
Prepaid Insurance 1,200
Liabilities:
Accounts Payable $300
Statement of Owner's Equity:
Jay Pembroke, Capital 18,000
Net income 2,550
Jay Pembroke, Drawing (100)
Ending Capital 20,450
Income Statement for the month ended April 30
Service Fees 3,300
Rent Expense 750
Net income 2,550