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cupoosta [38]
1 year ago
9

Dec. 6 Paid $1,600 for salaries due employees, of which $600 is for December and $1,000 is for November salaries payable. 8 Rece

ived $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,300. The cost of the merchandise sold was $4,100. 13 Purchased merchandise on account from Hecht Co. $9,000, terms 2/10, n/30. 15 Purchased supplies for cash $2,000. 18 Sold merchandise on account $12,000, terms 3/10, n/30. The cost of the merchandise sold was $8,000. 20 Paid salaries $1,800. 23 Paid Hecht Co. in full, less discount. 27 Received collections in full, less discounts, from customers billed on December 18. Adjustment data:

Business
1 answer:
Lerok [7]1 year ago
4 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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On March 1, 2021, Brown-Ferring Corporation issued $100 million of 12% bonds, dated January 1, 2021, for $99 million (plus accru
Digiron [165]

Answer and Explanation:

1. The amount of the accrued interest rate is

= Principal × rate of interest × time period

= $100,000,000 × 12% × 2 months ÷ 12 months

= $2,000,000

The 2 months are considered from December 31 to March 31

2. And, the journal entry is

Cash Dr $101,000,000 ($99,000,000 + $2,000,000)

Discount on bond payable $1,000,000

       To Bond payable $100,000,000

        To Interest payable $2,000,000

(being the issuance of the bond is recorded)

Here it debited the cash as it increased the assets and credited the bond payable and interest payable as it also increased the liabilities

8 0
1 year ago
Business Designs utilizes a structure that includes functional divisions, such as accounting and production, and a divisional ch
SSSSS [86.1K]

Answer:

Matrix organization.

Explanation:

A matrix organization is a blended organizational structure. This tries simultaneously to deal with competing pressures for global integration and local responsiveness. Institutes overlaps among functional and divisional forms.

Although a functional hierarchy is still in place, the project manager is recognized as a valuable position and is given more authority to manage the project and assign resources.

Gives functional, product, and geographic groups a common focus.

Matrix organizations can be further divided into weak, balanced, and strong matrix organizations. A weak matrix gives more authority to the functional manager (FM), whereas the strong matrix gives more power to the PM. As the name suggests, the balanced matrix balances power between the FM and the PM. The difference between the three is the level of authority given to the project manager (PM).

3 0
1 year ago
Read 2 more answers
A manager reorders lubricant when the amount on hand reaches 422 pounds. Average daily usage is 45 pounds, which is normally dis
Snezhnost [94]

Answer: The risk of stock out = 2.94%

Explanation:

Reorder point is calculated as: Lead time*demand per unit time=45*9=405

While the amount on-hand reaches 422 pounds, the manager was reordering lubricant.

During the lead time, Standard Deviation of Demand =Daily S.D*(Lead time)^0.5=3*(9^0.5)=9

Risk of Stock Out=(422-405)/9 S.D=1.89 S.D

From Normal distribution curve 1.89 S.D=0.0294=2.94%

Therefore, the risk of stock out=2.94%

7 0
1 year ago
Read 2 more answers
A quantitative method used to evaluate multiple locations based on total cost of production or service operations is called:
Sergeeva-Olga [200]

Answer:

Load-distance method.

Explanation:

Load-distance method is a technique of making facility location decisions by an organization. In this method, different facility locations are assigned a load-stance value (it is a measure of the weight of the load to be transported and the distance) and the different facilities are evaluated on the basis of this value. The location with the minimum load-distance will have minimum transportation cost; so, this location will be preferred over the other locations.

5 0
1 year ago
According to the website nationalbikeregistry, at the campus of UC Berkeley 12% of registered bicycles are stolen each year. Sup
yaroslaw [1]

Answer:

n = 160

p = 0.12

Explanation:

In a Binomial distribution two parameters are of great interest, n and p.

where n is the number of trials and p is the probability of success and (1 - p) is the probability of failure.

p = 12%

n = 160

Mean = E(X) = μ = n*p = 160*0.12 = 19.2

μ = 19.2

variance = σ² = np(1 - p) = 160*0.12(1 - 0.12) = 16.89

standard deviation = σ = √16.89 = 4.11

σ = 4.11

7 0
1 year ago
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