Answer:
F. Debit Accounts Payable $50.
B. Credit Merchandise Inventory $50.
Explanation:
As the company uses perpetual Inventory System, the journal entry to record the purchase return will be -
Debit Accounts Payable $50
Credit Merchandise Inventory $50
As the purchase was on credit, cash would not be either debit or credit. As the Merchandise Inventory returned to the suppliers, inventory was decreased. Hence, inventory will not be debit. Accounts payable was reduced too. Therefore, accounts payable will not be credit. Purchase returns are used in the periodic inventory system.
Answer:
The correct answer is letter "A": Modify.
Explanation:
The SCAMPER approach is useful when analyzing how to implement new ideas into existing products or services. SCAMPER stands for <em>Substitute, Combine, Adapt, Modify, Put to another use, Eliminate, </em>and <em>Reverse</em>.
The Modifying function implies asking questions such as "<em>What could you add to modify this product</em>?" or "<em>What element of this product could you strengthen to create something new</em>?" which looks for spotting lacking features of products to improve them according to consumers' preference.
Thus, <em>by deciding to change the spices of Indian traditional food for less spicy ingredients to fit Americans' food habits, Rashmi is using the modifying component of the SCAMPER tool.</em>
<span>If the gambler does not pay the marker when he has finished gambling, the marker is outstanding and the casino may later submit the marker, like a check, to the gambler's bank for payment.
So no</span>
For this you're going to use the I=PRT formula! so i=interest, p=principal, r=rate, and t=time (in years). so basically here we are going to plug in the equation, I=(2700)*(0.016)*(0.5) and we get 21.60! I=PRT is a simple interest formula, which is used for the simple plug and chug equations like this. Just remember to convert months to years and move over your decimals!
Answer: A) Fair value of the asset(s) given up.
Explanation:
Non-monetary exchange occurs when non-financial assets are exchanged in a transaction. Recording this transaction is based on the fair value of the assets exchanged and the recording is usually done in one of 3 ways being,
1. At the fair value of the asset transferred in exchange for it with a gain or loss on the exchange being recorded.
2. At the fair value of the asset received, if the fair value of this asset is more evident than the fair value of the asset transferred in exchange for it.
3. At the recorded amount of the surrendered asset, if no fair values are determinable or the transaction has no commercial substance.
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