The journal entry to record the payment of accounts payable for inventory that was purchased with the terms 2/10 net 30 and within the discount period would be: Accounts Payable..$17,640 debited and Cash.. $17,295 credited and Purchase Discount...$345 credited.
The terms 2/10 net 30 indicate that if the account payable is paid within ten days, the purchaser is allowed a 2% discount on the cost of goods sold. If payment is not made within ten days, the total amount due is due within 30 days. The journal entry to record the payment of accounts payable for inventory that was purchased with the terms 2/10 net 30 and within the discount period is as follows:
Accounts Payable......................$17,640
Cash................................................. $17,295
Purchase Discount..............................$345
In this scenario, the inventory purchased cost $18,000 but as the payment was made within the discount period, a 2% discount was allowed on the purchase which amounts to $360 (18,000 * 0.02). Therefore, the total amount paid would be $17,640 ($18,000 - $360). As the payment was made in cash, the Cash account is credited for $17,295 ($17,640 - $345) and the Accounts Payable account is debited for the same amount. The Purchase Discount account is credited for $345 ($17,640 - $17,295). Thus, the journal entry to record the payment of accounts payable for inventory that was purchased with the terms 2/10 net 30 and within the discount period would be:
Accounts Payable......................$17,640
Cash................................................. $17,295
Purchase Discount..............................$345
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Why is fashion designer Kira's Plasinina father important
a. He is a businessman who helped her achieve her goals .
b. He liked her drawings .
c. He funded her ventures.
d. He was her inspiration
FIRST ANSWER WILL BE NAMED BRAINLIEST
Which action would effectively and appropriately address a budget deficit?
A. reduce income
B. reduce expenses
C. apply for bankruptcy
D. apply for new credit
Answer:
It is letter B
Explanation:
Reducing expenses would effectively and appropriately address a budget deficit. Thus option B is correct.
What is the budget?A budget is a financial plan that projects future earnings and costs. A budget, put simply, forecasts future finances in addition to anticipated revenues and expenditures. Calculating the company's earnings and costs for a set period of time is the procedure for creating a budget.
Increasing tax rates while decreasing government expenditures are the two apparent ways to minimize a budget deficit. the reduction of government spending and/or the raising of taxes, which results in either a rise in the primary surplus or a decrease in the budget deficit. greater taxes and less funding by the government. If public spending is lower than tax receipts, a budget surplus results.
Therefore, option B is the correct option.
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Integration, operations, purchasing and distribution are the four primary components of Supply Chain Management. Each of the pillars is reliants on the others provide a smooth transition from plan to competition at the lowest possible cost. Outline each of the four aspects and illustrate your answer
Supply Chain Management consists of four primary components: integration, operations, purchasing, and distribution. These components are interdependent and work together to ensure a seamless flow from planning to completion while minimizing costs.
1. Integration: Integration involves coordinating and aligning various activities and functions within the supply chain to ensure effective communication and collaboration. It includes activities such as demand planning, forecasting, and information sharing among stakeholders. The integration enables the smooth flow of information, materials, and services across the supply chain.
2. Operations: Operations refer to the core activities involved in producing goods or providing services. This component focuses on managing production processes, inventory control, quality management, and efficient utilization of resources. It aims to optimize productivity, reduce lead times, and enhance overall operational efficiency.
3. Purchasing: Purchasing involves acquiring the necessary materials, goods, and services from suppliers to support operations. It includes activities such as supplier selection, negotiation, procurement, and contract management. Effective purchasing ensures the availability of quality inputs, timely delivery, and favorable terms to support smooth operations.
4. Distribution: Distribution encompasses the activities related to the movement and delivery of finished products to customers. It involves logistics planning, transportation management, warehousing, order fulfillment, and customer service. Efficient distribution ensures timely and accurate delivery, customer satisfaction, and effective management of inventories throughout the supply chain.
By effectively managing and integrating these four components, Supply Chain Management aims to optimize the flow of goods and services, minimize costs, enhance customer satisfaction, and gain a competitive advantage in the market.
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Storico Co. just paid a dividend of $3.15 per share. The company will increase its dividend by 20 percent next year and then reduce its dividend growth rate by 5 percentage points per year until it reaches the industry average of 5 percent dividend growth, after which the company will keep a constant growth rate forever. If the required return on the company’s stock is 12 percent, what will a share of stock sell for today?
Answer:
$61.29
Explanation:
Calculation for what Storico Co. Share of stock will sell today.
Since we have a stock that has a normal growth in which the dividend growth changes every year for the first four years. We can therefore find the price of the stock in Year 3 because the dividend growth rate is constant after the third dividend, which means the price of the stock in Year 3 will be the dividend we are going to use in Year 4, we shall then divide it by the required return less the constant dividend growth rate.
Therefore the price in Year 3 will be calculated as :
P3= $3.15(1.20)(1.15)(1.10)(1.05) / (.12 – .05)
P3= $5.020785/0.07
P3=$71.72
Let find the price of stock today using the PV of the first three dividends in addition with the PV of the stock price in Year 3:
Hence,
P0= $3.15(1.20)/(1.12) + $3.15(1.20)(1.15)/1.12^²+ $3.15(1.20)(1.15)(1.10)/1.12^³+ $71.72/1.12^³
P0=$3.78/1.12+$4.347/1.2544+$4.7817/1.404928+$71.72/1.404928
P0=$3.375+3.465+3.4035+$51.048
P0= $61.29
Therefore if the required return on the company’s stock is 12% what the share of stock will sell for today will be $61.29
What kinds of work would you be doing in the Printing Technology Pathway?
Answer:
The printing technology pathway includes occupations involved in prepress, press and binding, or post-press processes. Workers might transform text and pictures for printing plates, or use digital technology for graphics, layout or printing.
Explanation:hope that this helps :)
What proposed changes were made to boost the chinese economy that caused mao to launch the oppressive cultural revolution? choose three answers.
The changes that were proposed to made to improve the Chinese economy that caused Mao to launch the oppressive Cultural Revolution are-
It allows workers to compete for wagesIt prosecutes government officialsIt allows farmers to sell excess cropsWhat is Cultural Revolution?The start of the Cultural Revolution by Mao Zedong As Mao attempted to regain control by mobilizing radical youngsters against the Communist Party leadership, the campaign was fundamentally about upper economics.
These help workers compete for their wages for the work they did. It gives farmers to sell their excess crops and prosecutes the government officials.
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Using the following partial table of present value of $1 at compound interest, the present value of $28,582 to be received three years hence with earnings at the rate of 6% a year is (round to two decimal points).
The present value of $28,582 to be received three years hence with earnings at the rate of 6% a year is approximately $23,932.20.
To calculate the present value of $28,582 to be received three years from now at an annual interest rate of 6%, we'll use the formula:
Present Value = Future Value × (1 + Interest Rate)^(-n)
where "Future Value" is $28,582, "Interest Rate" is 0.06 (6% expressed as a decimal), and "n" is the number of years (3 in this case).
First, we calculate (1 + Interest Rate), which is (1 + 0.06) = 1.06.
Next, we calculate the inverse power of the number of years, which is 1.06^(-3). This equals approximately 0.83748.
Finally, we multiply the Future Value by the calculated present value factor:
Present Value = $28,582 × 0.83748 ≈ $23,932.20
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Total revenue (TR) is:
A) The value of the firm's investment for the business to function
B) the value of a firm's profit per time period
C) a firm's sales revenue as a percentage of the industry's total revenue
D) the value of a firm's annual sales turnover over a specific period of time
Orange Co. is a manufacturer and Pineapple Company the difference in the budgets the two entities will prep is a merchandiser. What is the difference in the budgets the two entitites will prepare?
a. Orange Co. will prepare a production budget, and Pineapple Company will prepare a merchandise purchases budget
b. Orange Co. will prepare a sales forecast, and Pineapple Company will prepare a sales budget c. Pineapple Company will prepare a production budget, and Orange Co. will prepare a merchandise purchases budget d. Both compani es will prepare the same types of budgets
a. Orange Co. will prepare a production budget, and Pineapple Company will prepare a merchandise purchases budget.
The difference in the budgets the two entities will prepare is that Orange Co., as a manufacturer, will focus on preparing a production budget to plan and control the production of goods. This budget will involve estimating the quantity of goods to be produced and the resources needed for production. On the other hand, Pineapple Company, as a merchandiser, will prepare a merchandise purchases budget to plan and control the purchases of finished goods for resale. This budget will involve estimating the quantity of goods to be purchased and the associated costs. Therefore, option a correctly identifies the difference in the budgets prepared by Orange Co. and Pineapple Company.
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What is the function of a ledger?
record only cash payments
record only credit payments
record and consolidate all financial transactions
record only sales
Answer:
Record and consolidate all financial transactions.
Explanation:
A ledger is a book that contains a record of all the transactions made- be it credit or withdrawals/ expenses. It is a book that maintains a record of any form of transaction that was ever done by a person or company.
It can also be a computer folder where the same record is made. The main point of maintaining a ledger is to keep track of, record, and also "make" solid evidence or proof of the transactions ever done. Thus, the function of a ledger is to record and consolidate all financial transactions ever done.
Is wanting to increase sales over the next year a good objective if (no/yes) write why
Answer:
Yes because some family's are not doing very good in money so they should be able to afford more items
But also no at the same time because if you have more sales more of your stuff will be out of stock.
Explanation:
If a bond is trading at a premium, what is the relationship between the bond's coupon rate, current yield and yield to maturity?
Bonds acquired at premiums often have lower yields to maturity than bonds purchased at market rates. This is further explained below.
What is a bond?Generally, Bonds are financial securities that reflect loans made to the issuer by the bondholders themselves. When it comes to borrowing money, governments (at all levels) and companies (of all sizes) often turn to bonds.
In conclusion, If you buy a bond at a discount, the yield to maturity will be lower than its coupon rate.
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An international business is a firm that
Part 2
A. hires non-U.S. citizens.
B. produces a wide range of products.
C. is not from the United States.
D. engages in international trade or investment.
Option D: An international business is a firm that engages in international trade or investment.
Therefore, the correct answer is option D. An international business is a company that conducts business across national borders. This can include importing and exporting goods, investing in foreign markets, and operating in multiple countries.
It is not necessarily defined by the nationality of its employees, the range of products it produces, or the country in which it is headquartered. International business refers to the trade of goods, services, technology, capital and/or knowledge across national borders and at a global or transnational scale. It involves cross-border transactions of goods and services between two or more countries.
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Question 7
0. 04
The purchase of savings bonds by individuals allows the U. S. Government to:
O make sure that the burden of the national debt is spread more equitably
O concentrate on microeconomics strategy
eliminate crowding out
balance supply and demand
create a perfect competition
The purchase of savings bonds by individuals allows the U.S. Government to eliminate crowding out.
Crowding out could be a phenomenon that happens when government borrowing drives up intrigued rates, which in turn leads to a diminish in private investment.
This may happen since when the government borrows cash, it increments the request for loanable reserves, which drives up intrigued rates.
As intrigued rates rise, businesses have gotten to be less willing to contribute since the cost of borrowing gets to be more costly.
The purchase of investment funds bonds by people gives the government a source of financing that does not require it to borrow cash from the open.
This implies that the government does not need to drive up intrigue rates, which can offer assistance to anticipate swarming out
So the one is to eliminate crowding out.
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a taxpayer made a gift of property to a friend. the taxpayer's basis in the property was $1,200. the fair market value at the time of the gift was $1,400. the friend sold the property for $2,500. what was the amount of the friend's gain on the disposition?
Gifts are exempt from taxes for the giver under the income tax legislation, but the receiver must report them as taxable income under the category of other sources. The gain or taxpayer on the disposition for the friend is thus $1,300.
In order to determine the friend's basis in the asset, we must subtract the taxpayer's basis ($1,200) from the asset's fair market value ($1,400) at the time of the gift. The base of the buddy in this situation is $1,200.
The friend made $2,500 from the deal, which is the selling price. The friend's basis must be subtracted from the amount realized in order to determine the gain on the disposition:
= $2,500 (amount realized) - $1,200 (friend's basis)
= $1,300
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A(n) to is any policy that is designed to reduce the competitiveness of foreign producers that wish to sell their goods or services in the domestic market.
A protectionism policy is any policy that is designed to reduce the competitiveness of foreign producers in the domestic market.
The protectionism policy helps to protect the domestic industries against the foreign competition through various means methods including
Imposition of tariffsSubsidiesImport quotasTrade restrictions.The policy of protectionism are determined by the Federal government of the country to help reduce the importation or competitiveness of foreign company in the country's market.
In conclusion, the policy is known as a protectionism policy.
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Answer:
Barrier to Trade
Explanation
In general, business writing should be _____.
Business writing is important in the business community. The writing style and material must be specific in order to elicit a meaningful reaction and be expressive in nature.
What is a company definition in a nutshell?
A business is described as a company or organisation that engages in commercial, industrial, or professional activity. Companies can be either for-profit or non-profit organisations. Limited liability firms, sole proprietorships, corporations, and partnerships are all examples of business structures. The introduction to the business plan provides a basic summary of the business plan, including a brief company description, aims and objectives, and the reason for launching the firm.
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first person get brianlyeist
Answer:
yay
Explanation:
In providing ____,the government establishes and enforces the laws necessary for a market economy to function
Answer:
I think that's regulations
on september 1, ziegler corporation had 55,000 shares of $5 par value common stock, and $165,000 of retained earnings. on that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. the general journal entry to record this transaction is:
The general journal entry to record this transaction is None. No transactions will be recorded.
74,000 common shares at $5 a piece stock
profits kept of $222,000
Corporation had 55,000 shares of $5 par value common stock, and $165,000 of retained earnings.
A company splits its shares two for one.
This transaction's general journal entry will be NONE. For this transaction, there is no journal entry. The 2-for-1 stock split will only be noted in a memo item.
No entry is made because the overall dollar amount stays the same.
A memorandum entry is a brief statement that is both entered into the general journal and a general ledger account. There is no debit or credit amount.
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The buyer of an industrial complex wants the broker to place the earnest money in an interest bearing account. The broker does this, clearly identifying all parties who are to receive the interest and the date the earned interest is to be disbursed. With only the verbal consent of the buyer, he places the money in an insured account in a depository in Florida. When the time comes to disburse the account, the broker will write a check to the buyer for the interest as the buyer agreed. Which statement describing this situation applies?
Answer:
Explanation:
In this situation, the statement that would best apply would be that the broker does not have the right to ever use an interest-bearing account under Florida Real Estate laws. Since Florida Real Estate laws specifically prohibit a broker from placing a clients money in an interest account then the broker in this scenario is breaking the law and can have his real estate license taken away as well as being fined.
If you know a brand so well that you use its trademark name to describe all similar products, you are
exhibiting...
A. Brand Awareness
B. Brand Loyalty
C. Promotion Awareness
D. Promotion Susceptibility
Answer:
I think It's A. and C. or D. but I really think it's D. actually .
Under an economic union, members would harmonize all of these EXCEPT Select one: a. the judicial system. O b. taxation. O C. government spending. d. the currency system. O e. monetary policies.
Under an economic union, members harmonize all of these EXCEPT the judicial system. The correct answer is option (a).
Harmonizing the judicial system is often a complex and sensitive issue as it involves legal frameworks, traditions, and sovereignty of individual member states. While economic unions may aim to establish common rules and regulations regarding economic activities, legal systems and judicial processes tend to be distinct and specific to each country. Hence, option (a) is the correct answer.
It is more common for economic unions to focus on harmonizing areas such as taxation (b), government spending (c), the currency system (d), and monetary policies (e). These areas are crucial for ensuring economic stability, facilitating trade and investments, and fostering monetary cooperation within the economic union. However, harmonizing the judicial system typically falls under the purview of national sovereignty and is not a standard feature of economic unions.
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On august 1, 2021, rocket retailers adopted a plan to discontinue its catalog sales division, which qualifies as a separate component of the business according to gaap regarding discontinued operations. the disposal of the division was expected to be concluded by june 30, 2022. on january 31, 2022, rocket's fiscal year-end, the following information relative to the discontinued division was accumulated: operating loss feb. 1, 2021-jan. 31, 2022 estimated operating losses, feb. 1-june 30, 2022 impairment of division assets at jan. 31, 2022 $129,000 86,000 22,000 in its income statement for the year ended january 31, 2022, rocket would report a before-tax loss on discontinued operations of multiple choice $(64,000). (0) $(64,000). o $(215,000). o $(129,000). $(151,000).
The correct answer is option C. In its income statement for the year ended January 31, 2022, Rocket would report a before-tax loss on discontinued operations of $(140,000).
In Rocket's income statement for the year ended January 31, 2022, the before-tax loss on ceased operations would be $. (140,000).
This is computed by multiplying the division assets' $17,000 impairment at January 31, 2022 by the operating loss of $123,000 from February 1, 2021 to January 31, 2022 and the expected operating loss of $90,000 from February 1 to June 30, 2022.
These three numbers added together equal $140,000, which Rocket would list as a before-tax loss on terminated operations in its income statement for the fiscal year that ended January 31, 2022.
Complete Question:
On August 1, 2021, Rocket Retailers adopted a plan to discontinue its catalog sales division, which qualifies as a separate component of the business according to GAAP regarding discontinued operations. The disposal of the division was expected to be concluded by June 30, 2022. On January 31, 2022, Rocket's fiscal year-end, the following information relative to the discontinued division was accumulated:
Operating loss Feb. 1, 2021–Jan. 31, 2022 $ 123,000
Estimated operating losses, Feb. 1–June 30, 2022 90,000
Impairment of division assets at Jan. 31, 2022 17,000
In its income statement for the year ended January 31, 2022, Rocket would report a before-tax loss on discontinued operations of:
Multiple Choice
A. $(123,000).
B. $(73,000).
C. $(140,000).
D. $(213,000).
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On february 2, miles inc. Pays $800 to purchase a one-year insurance policy that will expire next year on january 31. Miles indicates this transaction in its books by recording an $800 reduction in cash and an $800 increase in expenses. Did miles make the proper accounting entries? why or why not?.
If on february 2, miles inc. Pays $800 to purchase a one-year insurance policy. No miles did not make the proper accounting entries.
Insurance policy can be defined as a coverage that help to cover cost incase of unforeseen circumstance.
Based on the scenario mile did not makes the proper accounting entries based on the following:
Prepaid insurance is not an expense but an asset.Hence, the company should have offset the decrease in cash of the amount of $800 and $800 increase in prepaid insurance into an asset account.Therefore miles did not make the proper accounting entries.
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Thr option in red is incorrect.
- What transforms intended brand position into actual brand image is
Brand image is a term that refers to how consumers perceive a brand. Consumers perceive a brand in a particular way, whether positive, negative, or neutral. The statement that transforms the intended brand position into an actual brand image is Consumer decision-making.
This is based on the brand's perceived value, qualities, and personality traits, as well as the experiences people have had with the brand. Brand positioning refers to how a business wants its brand to be perceived by its target customers. Brand positioning is a business' attempt to establish a unique place in the minds of its customers. A brand's position is based on a number of variables, including pricing, brand name, packaging, and advertising.
These components are referred to as brand elements or brand identity. The following statement transforms the intended brand position into the actual brand image: Consumer decision-making transforms the intended brand position into the actual brand image. Brand image is created by the consumer, and it reflects how the consumer perceives the brand. Consumers take all of the brand's elements into account when forming an image of the brand, including its price, advertising, packaging, and more.
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gthe trend of on-demand service e-commerce producing a flood of temporary, poorly paid jobs without benefits is an example of what type of major trend?
The trend of on-demand service e-commerce producing a flood of temporary, poorly paid jobs without benefits is an example of the gig economy trend.
The gig economy refers to a labor market characterized by the prevalence of short-term contracts or freelance work, as opposed to permanent jobs. In this type of economy, individuals often work as independent contractors rather than employees, and companies use these workers on an as-needed basis to complete specific tasks or projects. This can lead to a situation where many workers have low wages, limited benefits, and few job security protections. In a gig economy, enormous quantities of individuals work in parttime or brief positions or as self employed entities. The consequence of a gig economy is less expensive, more productive administrations, like Uber or Airbnb, for those able to utilize them.
Individuals who don't utilize mechanical administrations, for example, the Web might be abandoned by the advantages of the gig economy. Urban communities will generally have the most profoundly evolved benefits and are the most dug in the gig economy.
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A storm will hit a small town soon. Residents are advised to head out to
purchase water, canned food, and other emergency supplies. When residents
go to make their purchases, they notice that the supermarkets have greatly
raised the prices of certain items. Which price strategy is this?
Answer:
Price Gouging!
Explanation:
Price gouging occurs when a seller increases the prices of goods, services or commodities to a level much higher than is considered reasonable or fair. Usually, this event occurs after a demand or supply shock. Common examples include price increases of basic necessities after natural disasters.
When the supermarkets increased prices greatly at such a juncture, this is known as Price gouging.
Price gorging:
Refers to when prices are raised by retailers exorbitantly in response to sudden increase in demand Usually happens during disasters and emergenciesIs usually illegalThe supermarkets is engaging in price gorging by increasing the prices so greatly due to the impending storm. Authorities can come against these supermarkets for this.
In conclusion, the supermarkets are engaging in price gorging.
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The bcg matrix classifies products which have a high market share in a low growth market as __________.
The bcg matrix classifies products which have a high market share in a low growth market as cash cows.
What is cash cows?
A cash cow is a company enterprise that consistently produces earnings that are significantly higher than the capital investment needed to launch or acquire it. Since they can be utilized to increase a business's overall income and to support less profitable efforts, many businesses try to establish or buy such operations.
Therefore,
The bcg matrix classifies products which have a high market share in a low growth market as cash cows.
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To increase the accumulated depreciation account, you would ______ the account, and to increase depreciation expense, you would _____ the account.
Answer:
Credit, debit
Explanation: