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2 years ago

Tanner wants to buy a new car. What will he most likely consider when making his decision on the type of car to buy?

Business

1 answer:

Nitella [24]2 years ago

8 0

Answer: a deal website that compares different types of cars, so he can choose the one he likes best

Explanation:

When buying a good or service, it is best to look out for a variety of those goods because it will enable a person to be able to compare the different varieties and be able to pick the one most suitable for them.

Tanner therefore will most likely use a website that compares cars so that he is able to see the features that different cars offer which will enable him make a decision that is most suitable for him.

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Journalize the following transactions that occurred in November 2018 for May's Adventure Park. Assume May's uses the gross metho

gregori [183]

Answer:

May's Adventure Park

Journal Entries for November 2018:

Nov. 4: Debit Inventory $5,000

Credit Accounts Payable (Vera Company) $5,000

Nov. 6: Debit Freight-in $100

Credit Cash $100

Nov. 8: Debit Accounts Payable (Vera Company) $2,500

Credit Inventory Returns $2,500

Nov. 10: Debit Cash Account $1,100

Credit Sales $1,100

Nov. 10: Debit Cost of Goods Sold $400

Credit Inventory $400

Nov. 11: Debit Accounts Receivable (Geary Corporation) $11,100

Credit Sales $11,100

Nov. 11: Debit Cost of Goods Sold $6,105

Credit Inventory $6,105

Nov. 12: Debit Freight-out $20

Credit Cash Account $20

Nov. 13: Debit Accounts Receivable (Caldwell Company) $9,500

Credit Sales $9,500

Nov. 13: Debit Cost of Goods Sold $5,225

Credit Inventory $5,225

Nov. 14: Debit Accounts Payable (Vera Company) $2,500

Credit Cash Discount $75

Credit Cash Account $2,425

Nov. 17: Debit Sales Returns $500

Credit Accounts Receivable (Caldwell Company) $500

Nov. 17: Debit Inventory $500

Credit Cost of Goods Sold $500

Nov. 18: Debit Inventory $3,600

Credit Accounts Payable (Rainman Corporation) $3,600

Nov. 20: Debit Cash Account $10,878

Debit Cash Discount $222

Credit Accounts Receivable (Geary Corporation) $11,100

Nov. 26: Debit Accounts Payable (Rainman Corporation) $3,600

Credit Cash Discount $72

Credit Cash Account $3,528

Nov. 28: Debit Cash Account $9,000

Credit Accounts Receivable (Caldwell Company) $9,000

Nov. 29: Debit Inventory $12,300

Credit Accounts Payable (Sandra Corporation) $12,300

Nov. 29: Debit Freight-in $170

Credit Cash Account $170

Explanation:

Journal entries are made to debit and credit the accounts involved in each business transaction. They are the first accounting records made to capture transactions after they have been analyzed to know the accounts affected and which accounts in the ledger will be debited or credited. They are usually accompanied with short explanations, e.g. the trade terms.

7 0

2 years ago

When an organization’s internal environment no longer allows the organization to perform effectively, a manager might do which o

Drupady [299]

Explanation:

Question 1. These options apply;

Create a culture of innovation by inviting and expecting employees to contribute new ideas.
Hire people with new skills and perspectives and train current employees on new skills.
Restructure the organization to be more customer-centric and make work processes more efficient.

Question 2. These options apply;

Think about new possibilities for the organization.
Spend a good deal of time determining what the problem is and find out what caused it.
Create deadlines and checkpoints for solving the problem

Question 3

B. slow moving and stable

Question 4

D. incremental

Question 5.

D. made a proactive change

7 0

2 years ago

Patrick Rach International issued 5% bonds convertible into shares of the company's common stock. Rach applies U.S. GAAP. Upon i

Ludmilka [50]

Answer:

The correct answer is letter "B": The proceeds of the bond issue entirely as debt.

Explanation:

Under the U.S. General Accepted Accounting Principles (GAAP) the issuance costs of bonds are ignored for reporting purposes but the amount of sales revenues is recorded as debt. The amortization of the bond can be calculated using the effective interest method or the straight-line method.

6 0

2 years ago

The following transactions are February activities of Swing Hard Incorporated, which offers indoor golfing lessons in the northe

Greeley [361]

Answer:

cash 15,000 debit

accounts receivable 15,000 credit

cash 150 debit

gift card liaiblity 150 credit

accounts receivable 4,000 debit

services revenue 4,000 credit

cash 2,250 debit

unearned revenue 2,250 credit

accounts receivable 125 debit

service revenues 125 credit

Explanation:

we increase cash and decrease the customers accounts

we record the cash proceeds and use a liability for the obligation in the near future to provide services to a customer

we recognize the revenue and increase our accounts receivable

as the colleciton is in advance the revenue is not earned. this is a liability as we now have the obligation to perform services in the near future

we must match the revenue whn the time it occurs and that time was february not march.

3 0

2 years ago

Columbia Corporation produces a single product. The company's variable costing income statement for November appears below: Colu

Mekhanik [1.2K]

Answer:

Value of closing Inventory under absorption costing = $56,610

Explanation:

Provided sales for the month = $902,000 a the rate of $22 per unit.

That means sales in units = $902,000/ $22 = 41,000 units.

Provided opening stock of finished goods = 8,770 units

Production for the month of November = 35,560 units

Closing inventory = Opening + Manufactured - Sales

= 8,770 + 35,560 - 41,000 = 3,330

Under absorption costing only manufacturing overheads are added to the cost of goods, operating expenses like selling & administrative do not form part of that.

Variable cost of goods sold do not include operating expenses, as variable selling expenses are provided separately.

Therefore cost of goods sold per unit = $574,000/41,000 = $14 per unit.

Variable selling expenses will not form part of value of closing inventory under absorption costing.

Fixed manufacturing expenses will be considered fully with the production quantity of 35,560 units as no production capacity has been provided.

Manufacturing fixed cost per unit = $106,680/35,560 = $3 per unit

Value of closing Inventory = Cost of goods sold per unit + Fixed cost per unit allocated

= ($14 X 3,330) + ($3 X 3,330) = $56,610

8 0

2 years ago