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Len [333]
2 years ago
5

A seller uses a perpetual inventory system, and on April 4, it sells $5,000 in merchandise to a customer on credit terms of 3/10

, n/30. On April 13, the seller receives payment from the customer. Complete the seller’s April 13 journal entry by selecting the account names and dollar amounts from the drop-down menus. The order of the account names in the journal entry must match the illustration in this module.
Business
1 answer:
Reika [66]2 years ago
7 0

Answer:

Explanation:

The journal entry on April 13 for receipt of payment from customer is as follows:

Date Account title and explanation Ref Debit Credit

13-April Cash ($5000 - $150)                  $4,850  

         Sales discount ($5000* 3%)      $150  

                    Accounts receivable

                                                                            $5000

(To record the receipt of payment from customer net of discount    

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Which of the following is most likely to be considered a profit center?
likoan [24]

Answer:

A. The grocery department of a Walmart Supercenter or Target Superstore

Explanation:

  • A profit center is a type of business where the business is expected to make into valuable contributions, a profit center can be treated as a separate business of the company.  
  • The profits and losses for that center are calculated separately. Examples of profit centers include the store, sales organization, or consulting organization.
3 0
2 years ago
The order of presentation of activities on the statement of cash flows is
Rufina [12.5K]

Answer:

Operating activities

Investing activities

Financing activities

Explanation:

In a cash flow statement, the activities of the organization are usually recognized in 3 parts namely; Operating activities, investing activities and financing activities.

The operating activities include elements such as net profit, non cash items, change in current assets and liabilities.

The investing activities include cash flows from the disposal and purchase of assets etc

The financing activities includes cash flows from the disposal and sale of shares etc.

The net cash flows from these activities is the netted off the cash balance at the beginning of the period to get the cash balance at the end of the period.

Hence the order of presentation of activities on the statement of cash flows is

Operating activities

Investing activities

Financing activities

6 0
2 years ago
Burns Industries currently manufactures and sells 11,000 power saws per month, although it has the capacity to produce 26,000 un
marusya05 [52]

Answer:

Selling price= $30

Explanation:

Giving the following information:

Unitary cost:

Variable= $30

Fixed= $16

Number of units= 4,100

<u>Normally, when there is unused capacity and a new customer asks for a reduced price, the fixed cost should not be taken into account when calculating the selling price. </u>The company benefits from increasing its sales, acquiring a new customer, and perhaps getting some discounts from suppliers in the variable components.

<u>The lower price that the company accepts is the one that equals the unitary variable cost. In this case:</u>

Selling price= $30

8 0
2 years ago
Data integrity with real-time systems involves the ACID test, which involves ________.
leva [86]

Answer:

The correct answer is letter "B": Atomicity, consistency, isolation, and durability.

Explanation:

Atomicity, Consistency, Isolation, and Durability (<em>ACID</em>) is a database that allows computer software to guarantee the accuracy of transactions even in front of events such as power failures. The system also takes care of how information can be recovered -if lost any- when those situations arise.

6 0
2 years ago
NoFly Corporation sells three different models of a mosquito "zapper." Model A12 sells for $60 and has variable costs of $43. Mo
Lunna [17]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Model A12:

selling price=  $60

variable cost= $43

Model B22:

selling price= $111

variable costs= $79

Model C124:

selling price= $402

variable costs= $309.

Sales mix:

A12= 60%

B22= 27%

C124= 13%.

Fixed costs= $225,789

First, we need to calculate the break-even point in units for the company as a whole:

Break-even point (units)= Total fixed costs / Weighted average contribution margin ratio

Weighted average contribution margin ratio= (weighted average selling price - weighted average unitary variable cost)

Weighted average contribution margin ratio= (0.6*60 + 0.27*111 + 0.13*402) - (0.6*43 + 0.27*79 + 0.13*309)

Weighted average contribution margin ratio= 30.93

Break-even point (units)= 225,789/30.93

Break-even point (units)= 7,300 units

Now, for each product:

Sales mix:

A12= 0.6*7,300= 4,380

B22= 0.27*7,300= 1,971

C124= 0.13*7,300= 949

5 0
2 years ago
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