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A vendor allows a 2% discount if an invoice is paid within 10 days. a purchase was made for $5,000 on june 10 and paid on june 1

Kamila [148]

An invoice is a document given from the seller to the buyer stating the quantity of products bought, agreed prices and transactions made between the two parties. If the buyer bought the product in June 10 and decides to pay on the 19th, only 9 days have passed since the date of purchase. This is inclusive of the agreement written that 2% discount is given if paid not more than 10 days. Therefore, the check should be

($5,000)(1-.0.02) = $4900

8 0

3 years ago

How would one establish a petty cash fund for $500?

Sindrei [870]

Answer:

Explanation:

It's B

7 0

2 years ago

The following is information for Palmer Company. Year 3 Year 2 Year 1 Cost of goods sold $ 643,825 $ 426,650 $ 391,300 Ending in

Vlad1618 [11]

If Palmer Company. Year 3 Year 2 Year 1 Cost of goods sold $ 643,825 $ 426,650 $ 391,300 Ending inventory 97,400 87,750 92,500 compute inventory turnover for Year 3 and Year 2, and its days' sales in inventory at December 31, Year 3 and Year 2:

a) Inventory turnover for Year 2, and its days' sales in inventory at December 31, Year 2

Inventory turnover =$426,650/($92,500+$87,750)/2

Inventory turnover=$426,650/$90,125

Inventory turnover=4.7 times

Days' sales in inventory=$87,750/$ 426,650×365 days

Days' sales in inventory=$87,750

Days' sales in inventory=75.07 days

b) Inventory turnover for Year 3, and its days' sales in inventory at December 31, Year 3

Inventory turnover=$643,825 /($87,750+$97,400)/2

Inventory turnover=$643,825/$92,575

Inventory turnover=6.95 times

Days' sales in inventory=$97,400/$643,825×365 days

Days' sales in inventory=55.22 days

Learn more here:

brainly.com/question/15520316

4 0

2 years ago

You do not need to see proof of cash donations made by taxpayer if you feel that the information is not unusual or questionable.

Sliva [168]

Answer:

The correct answer is letter "A": True.

Explanation:

The Internal Service Revenue (IRS) offers Volunteer Income Tax Assistance (VITA) for elderly people who do not know how to file taxes on their own. The volunteers follow a series of practices during the interview with the taxpayers to gather their taxable information accurately. The principle of Due Diligence allows volunteers to ask for clarification when the taxpayer information seems unclear or inconsistent. However, if the information is not unusual, there is no need to request proof of it.

8 0

3 years ago

A firm’s managers realize they cannot monitor all aspects of their projects but do want to maintain a constant focus on the key

lianna [129]

Answer:

A)

Explanation:

For this specific desire of the company, they should focus on Sensitivity analysis, in order to identify the key variable that affects a project’s profitability. Sensitivity analysis focuses on determining how a target variable is affected based on changes in other known variables. This allows a company to tweak and determine which changes will have the greatest positive outcome for each specific project that they are working on.

5 0

3 years ago