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2 years ago

Journalize the following transactions assuming a perpetual inventory system:

Business

1 answer:

natulia [17]2 years ago

5 0

Answer:

May 5

Merchandise Inventory $6,000 (debit)

Freight Charges $100 (debit)

Accounts Payable : Archie Co. $6,000 (credit)

Cash $100 (credit)

May 12

Accounts Payable : Archie Co. $2,500 (debit)

Merchandise Inventory $2,500 (credit))

May 14

Accounts Payable : Archie Co. $3,500 (debit)

Discount Received $70 (credit)

Cash $3,430 (credit)

Explanation:

May 5

Recognize the Assets of Merchandise and a Liability : Accounts Payable : Archie Co. as a result of purchase.

Also Recognize the Freight Expenses since this is a F.O.B delivery

May 12

De-recognize the Liability : Accounts Payable - Archie Co. and the Merchandise Inventory asset to the extend of Merchandise returned to Archie Co.

May 14

De-recognize the Liability : Accounts Payable : Archie Co. of $3,500 and the Cash assets to the extend of Payment made to Archie Co less cash discount of $3,430 .

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A firm has a profit margin of 12 percent; total asset turnover of 0.55 and an equity multiplier of 2.2. What is the firm's ROA a

lutik1710 [3]

Answer:

ROA = 6.6%

ROE 14.52%

Explanation:

profit margin = net income / sale = 12%

assets turn over = sales / assets = 0.55

equity mutiplier = assets / equity = 2.2

ROE = return on equity = net income / equity

ROA = return on equity = net income / assets

we use the fraction properties to get ROE and ROA

$\frac{income}{sales} \times \frac{sales}{Assets} =\frac{income}{Assets} \\ 0.12 \times 0.55 = 0.066\\$

ROA = 6.6%

We apply the same property to get ROE

$\frac{income}{assets} \times \frac{assets}{equity} =\frac{income}{equity} \\ 0.066 \times 2.2 = 0.14252\\$

ROE = 14.52%

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2 years ago

Which of the following is an example of a sales promotion? A. Pay per click Internet advertising B. A coupon that expires in one

SCORPION-xisa [38]

Answer:

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2 years ago

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Naddik [55]

Event Account Debit Credit

a Work in process $ 55,500

Manufacturing plant Overhead $ 4,500

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(To record material utilized)

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(To record work utilized)

c Work in process ($106,800*25%) $ 26,700

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d Finished Goods $ 122,750

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2 years ago

Consider this argument: "the kidnappers have taken eight people hostage and are holding them at a farmhouse just outside town. i

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<span>The kidnappers have taken and holding eight people hostage at a farmhouse just outside town. If the Swat team assaults the farmhouse, hostages will be killed. If they give into the kidnappers' demands for ransom, hostages will be safe but the tactic will encourage more kidnappings of innocent people.The argument is an example of compromise. </span>

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2 years ago

Corey, a supervisor, needs to rate the performance of 20 subordinates. He uses a rating scale to rate them on a scale of 1 to 10

Sonbull [250]

Answer:

central tendency distributional error

Explanation:

There are three types of distributional errors:

severity.- when the person in charge of rating is too strict and rates the employees with a poor grade.
leniency.- when the person in charge of rating is too lenient and rates the employees with a high grade.
central tendency.- when the person in charge of rating does not want to assume responsibility and rates the employees with a middle grade, not bad, not good.

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2 years ago