answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Dvinal [7]
2 years ago
4

Purchases Transactions Nieman Company purchased merchandise on account from Springhill Company for $9,900, terms 2/10, n/30. Nie

man returned merchandise with an invoice amount of $2,400 and received full credit. a. If Nieman Company pays the invoice within the discount period, what is the amount of cash required for the payment? If required, round the answer to the nearest dollar.
Business
1 answer:
musickatia [10]2 years ago
3 0

Answer:

$7,350

Explanation:

The terms 2/10, n/30 indicates that the customer would get a 2% discount if the discount is made within 10 days. If the payment is not made in this period, the customer would have to pay the complete amount within 30 days. Taking this into consideration and as Nieman returned merchandise with an invoice amount of $2,400, you have to subtract this amount from the purchased they made:

$9,900-$2,400= $7,500

Then, you have to calculate the 2% of $7,500 to find the discount and subtract it from $7,500:

$7,500*2%= $150

$7,500-$150= $7,350

According to this, if Nieman Company pays the invoice within the discount period, the amount of cash required for the payment is: $7,350.

You might be interested in
Guardian security, inc., and hedge fund corporation enter into an oral contract under which guardian security agrees to provide
Shkiper50 [21]
The contract may be enforceable by either Guardian Security or Hedge Fund. So, either of the two is enforceable regarding the contract they have agreed. The contract are enforceably by both of the parties. So the answer in this question is either Guardian Security or Hedge Fund. Contract is a written agreement by two or more parties.
7 0
2 years ago
Ranada Company manufactures and sells sportswear products. Ranada uses activity-based costing to determine the cost of the custo
kramer

Answer:

Per unit customer costs = $4.5 per unit

Explanation:

Under activity based costing cost are allocated based on per activity rate.

Customer return processing activity rate = $45 per return

Shipping activity rate = $10 per shipment

for Product 1

Total cost of shipment and return will be as follows:

Shipment = 1,200 X $10 = $12,000

Returns = 150 X $10 = $1,500

Total = $12,000 + $1,500 = $13,500

Total units = 3,000

Per unit customer costs = $13,500/3,000 units = $4.5 per unit

4 0
2 years ago
Auto parts manufacturer JEG Inc. has a number of vacancies at lower management levels and wants to fill the positions from withi
Ainat [17]

Answer:

B)Unqualified applicants will need explanations about why they did not get the job.

Explanation:

From the question we are informed Auto parts manufacturer JEG Inc. who has a number of vacancies at lower management levels and wants to fill the positions from within the company itself rather than recruit externally. The company plans to e-mail the job specifications to all employees and post the jobs on the company Web site. In this case, what could weaken the company's decision, is that Unqualified applicants will need explanations about why they did not get the job.

7 0
1 year ago
An automobile dealer expects to sell 1250 cars a year. The cars cost $9000 plus a fixed charge of $1000 per delivery. If it cost
Brilliant_brown [7]

Answer:

Order size = 50 cars

The number of orders=25

Explanation:

<em>The Economic Order Quantity (EOQ) is the order size that minimizes the balance of ordering cost and holding cost. At the EOQ, the carrying cost is equal to the holding cost.  </em>

It is computed using the formulae below  

EOQ = √ (2× Co× D)/Ch  

Co- Ordering cost, Ch- Carrying cost - D- Annual demand  

EOQ= √2× 1000× 1250/1000= 50

Number of cars to be ordered per time, i.e optimal order size= 50 cars

Order size = 50 cars

b)

The number of times orders should be placed per year would be calculated as follows:

The number of orders = Annual demand/ order size

The number of orders= 1250/50 = 25

The number of orders=25

4 0
2 years ago
Which of the following are not legitimate constraints on the dividends a firm will pay to​ shareholders?
Arada [10]

Answer:

D. All are legitimate constraints on the dividends that firms choose to pay to shareholders.

Explanation:

All of these are legitimate constraints.

For A, a company may simply have limited cash flows and as such can not pay any dividends. They may still be making profits and may declare dividends but the payment may not be made until subsequent period when cash is available.

For B, Bondholder covenants legally bind firms as issuing authorities from certain practices, for example a bond covenant may bind a firm to have interest cover of at least 2 times retained and as such there may be very little retained earnings left to pay for dividends.

For C, some forms of businesses like insurance companies or banks are restricted by law that they can not pay dividends if it means a capital reduction. These businesses have legal capital requirements that they must maintain and thus they cannot reduce capital in lieu of making dividend payments.

Hope that helps.

8 0
2 years ago
Other questions:
  • Benton Lamps applies overhead using direct labor hours. Budgeted total overhead cost was $472,000 and estimated direct labor hou
    12·1 answer
  • Janice, age 32, earns $50,000 working in 2019. She has no other income. Her medical expenses for the year total $5,250. During t
    13·1 answer
  • Morgan Manufacturing recently sold goods that cost $35,000 for $45,000 cash. The journal entries to record this transaction woul
    7·1 answer
  • Edith's warehouse (adjusted basis of $450,000) is destroyed by a hurricane in October 2019. Edith, a calendar year taxpayer, rec
    13·1 answer
  • Ramiro has been a forklift driver for the local grocery store for six years. He earns $32,000 a year. He works with a nice crew.
    7·1 answer
  • Market value ratios give management an indication of what investors think of the companies and future prospects. The market valu
    11·1 answer
  • The agreed cost of an item to be purchased by a business on credit is $4,000. The applicable cost will be debited to advertising
    15·1 answer
  • Norma Company had 10,000 units in work in process at January 1 that were 50 percent complete. During January, 25,000 units were
    6·2 answers
  • Darke Corporation makes one product and has provided the following information: Budgeted unit sales for October, November, and D
    15·1 answer
  • "what amount of warehouse department cost will be allocated to department music if the service department with the highest perce
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!