Sydney accepts delivery of $39,000 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $26,130.
Sydney pays $440 cash to Express Shipping for delivery charges on the merchandise.
Sydney returns $1,100 of the $39,000 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $737.
Sydney pays Troy for the amount owed. Troy receives the cash immediately.
part 2 Prepare journal entries that Troy Wholesalers (seller) records for these three transactions.
Record the merchandise sold on account.
Record the cost of goods sold.
Record the sales return.
Record the cost of sales return.
Record the cash collected for credit sales.
Answers
Answer:
39,000 Explanation:
FOB shipping point. The goods cost Troy $26,130.
Related Questions
List the four responsibilities businesses have to customers.
Answers
Answer:
good luck bro you got this
Explanation:
to provide after-sale service on the basis of the nature of a product
to provide information about the changes introduced by the business
to take necessary steps to improve quality, reduce price and develop the network for distribution
to supply better quality goods at the right time at a reasonable price
Johnson Cleaning Service has the following account balances on December 31, 20X1.
Cash
Equipment
Accounts payable
Elicia Johnson, Capital
$ 76,000
184,000
96,800
163,200
Answers
Based on the type of accounts they are, the proper classification will be:
Cash - Debit balance.Equipment - Debit balance. Accounts payable - Credit balance. Capital - Credit balance. Classifying the balancesThe question asks that the above balances are put on the appropriate side of a T Account.
The proper way to do this will be:
Dr. Account Title Amount Account title Amount Cr.
Cash $76,000 Accounts payable $96,800
Equipment $184,000 Elica Capital $163,200
In conclusion, assets go to the left side and capital and liabilities to the right.
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Accounts classification: Cash - Debit balance, Equipment - Debit balance, accounts payable - Credit balance, Capital - Credit balance.
T-account is a visual representation of an account used in bookkeeping. The T-account gets its name from its resemblance to the letter "T."
A T-account consists of two sides: the left side is called the debit side (or "dr" for "debit"), and the right side is called the credit side (or "cr" for "credit").
The proper T- account of the Johnson Cleaning Service, will be:
Dr. Account Title Amount Account title Amount Cr.
Cash $76,000 Accounts payable $96,800
Equipment $184,000 Elica Capital $163,200
Total Credits $260,000 Total debits $260,000
Thus, this is the proper way of showing a T- account.
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Johnson Cleaning Service has the following account balances on December 31, 20X1.
Cash $ 76,000
Equipment 184,000
Accounts payable 96,800
Elicia Johnson, Capital 163,200
Enter the above balances on the proper side of the T-account.
how does a service contract differ from a warranty? what rights do purchasers of products have even if no written warranty exists?
Answers
Service contract differs from a warranty in the sense that the former is paid for while the later is offered free of charge by the automaker.
The rights that purchasers of products have even if no written warranty exists is that they can keep funds to cover anything if there is no written warranty.
What is service contract and warranty?Basically, warranty means a written guarantee from the manufacturer that tells you if your damaged product can be returned/ fixed. Service contract means an agreement between a business and a consumer to cover the cost of repair.
The service contract directly engages the time and effort of a contractor whose primary purpose is to perform an identifiable task rather than to furnish an end item of supply. Its may be either a nonpersonal or personal contract.
But, a warranty serves as a legally binding commitment forming part of the sales contract which assures the buyer that the product or service is free from defects.
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3. Assume that a country that once had a lucrative oil-producing industry experiences a rapid fall in market prices that has caused numerous oil exploration and drilling companies to stop production. The result is many oil exploration and drilling industry workers out of work and tremendous amounts of oil exploration equipment left sitting in the equivalent of “used car lots” to be sold. a. Which of the 12 basic economic principles outlined in the course textbook best describes this situation?
Answers
The basic economic principle that best describes the situation on the rapid fall in market prices leading to unemployment is People usually respond to incentives, exploiting opportunities to make themselves better off.
How does a lack of incentive affect people?People need incentives in order to get into business and this is usually a financial incentive. When it isn't there, people will avoid business so as not to make losses.
The oil exploration and drilling companies in this country no longer had an incentive to keep up operations because the market prices fell and so they got out of the business which led to unemployment.
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Question 3
Level premium term life insurance policies
O build cash value in a separate account
O automatically convert to permanent insurance at a predetermined date
O automatically renew at predetermined dates
O have premiums that are averaged over the policy period
8 of 10 Questions Remaining
Select the appropriate response
Submit Response
Answers
Level premium term life insurance policies are Option D. have premiums that are averaged over the policy period.
Term life insurance is one of the most popular types of life insurance available to consumers in the United States. Term life insurance provides coverage for a specified period or term of years, usually 10, 20, or 30 years. A level premium term life insurance policy means that the premium for the coverage remains the same throughout the policy period. For example, if you purchase a 20-year level premium term life insurance policy, you will pay the same premium every year for 20 years.
This type of policy is attractive to many people because it provides certainty in their financial planning. They know exactly what they will pay for the policy each year and can budget accordingly. Level premium term life insurance policies do not build cash value in a separate account like permanent life insurance policies. They are pure protection policies and only pay a death benefit if the insured dies during the policy term.
Once the policy term is over, the coverage ends. However, some level premium term life insurance policies have the option to convert to permanent insurance at a predetermined date, which is option B, but this is not automatic and may require additional premiums.
Therefore, level premium term life insurance policies are characterized by premiums that are averaged over the policy period, and they do not build cash value in a separate account like permanent insurance policies. They are pure protection policies, and the coverage ends at the end of the policy term. Therefore, the correct option is D.
The question was incomplete, Find the full content below:
Question 3
Level premium term life insurance policies
A. build cash value in a separate account
B. automatically convert to permanent insurance at a predetermined date
C. automatically renews at predetermined dates
D. have premiums that are averaged over the policy period
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In what ways do federal, state, and local regulatory agencies play a role in the hospitality and tourism industry, specifically the recreational sector? Identify and describe one example for each agency, evaluating the ways in which this agency impacts the hospitality and tourism industry by using your example as a framework.
What are three influences that led to the development of amusement parks and theme parks? Evaluate and describe some of the ways that these influences helped shape modern amusement and theme parks.
Imagine that you are looking to hire someone for a park ranger position. What characteristics or skills would you look for in the candidates? Why?
Shelly is accompanying her dad to work for a few days over summer break. Her dad is a theme park manager. What are some tasks, duties, and things that Shelly might observe her dad doing over these few days while she is with him at work?
Answers
Answer:
its only my opionion
Explanation:
local and state stakeholders and partners, with some assistance from federal groups. The realization of what federal agencies can and cannot do has led to new approaches. One example is community-based disaster preparedness (CBDP), which is increasingly used as a general framework for promoting local-level capacity building.
The hospitality industry is thought to have the biggest positive socioeconomic effects on employment, living standards, tax collections for state and municipal governments, and local retail sales growth.
What is hospitality?The term "hospitality" refers to the relationship that exists between a host and a guest in which the host accords the guest some measure of goodwill. This includes the welcoming and entertaining of guests, visitors, or strangers.
Medieval European pleasure gardens, industrialization, and world fairs are three factors that influenced the growth of amusement parks and theme parks. They contributed to the development of modern theme parks and amusement parks by introducing concepts of enjoyment and technological advancements that made mechanical rides possible.
The characteristics or skills for a park ranger will be:
Physical fitness to work outdoors. Strong communication skills.A willingness to help people and conservation efforts.Shelly can ensure all parts of the park are operating effectively in terms of staff and equipment and oversee the effective application of health and safety regulations and risk assessment to ensure a safe environment for park employees and the public
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Customer service personnel typically need at least:
A. a high school diploma
B. a vocational school certificate
C. a community college degree
D. a four-year degree
Answers
Answer:
a
Explanation:
Match each type of insurance with an example of when the insurance
company would make a payment.
Renter's
insurance
?.
You cause an accident
that damages someone
else's car.
Liability coverage
?
You have to take a month
off from work because of
a broken leg.
Health insurance
2
Your stereo and computer
are stolen from your
apartment
Disability
insurance
?
You go to the emergency
room after a car accident.
Answers
Answer:
See below
Explanation:
Renter's insurance
Your stereo and computer are stolen from your apartment. Renters insurance provides coverage for policyholder's properties other than their dwelling place.
Liability coverage
You cause an accident that damages someone else's car. It protects against claims arising from damages to other people or their properties.
Health insurance
You go to the emergency room after a car accident. Offers insurance coverage for medical bills incurred by the policyholder or their dependents.
Disability Insurance
You have to take a month off from work because of a broken leg. Provides protection against loss of income as a result of serious bodily injuries to the policyholder.
Fickel Company has two manufacturing departments—Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $19.00 per direct labor-hour and $15.00 per direct labor-hour, respectively. The company’s direct labor wage rate is $21.00 per hour. The following information pertains to Job N-60: Assembly Testing & Packaging Direct materials $ 375 $ 39 Direct labor $ 168 $ 84 Required: 1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate calculations.) 2. If Job N-60 consists of 10 units, what is the unit product cost for this job?
Answers
The total manufacturing cost assigned to Job N-60 is $ 696. If Job N-60 consists of 10 units, the unit product cost for this job is $111.00.
How to find the manufacturing costs ?Direct materials (Assembly + Testing & Packaging) = $375 + $39
= $414
Direct labor (Assembly + Testing & Packaging) = $168 + $84
= $252
Overhead applied (Assembly + Testing & Packaging) = $19 * 168 + $15 * 84 = $316 + $126
= $442
Total manufacturing cost = $414 + $252 + $442
= $1110
Unit product cost = Total manufacturing cost / Number of units
= $1110 / 10
= $111.00
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draw a circular-flow diagram. identify the parts of the model that correspond to the flow of goods and services and the flow of dollars for each of the following activities. a. selena pays a storekeeper $1 for a quart of milk. b. stuart earns $8 per hour working at a fast-food restaurant. c. shanna spends $40 to get a haircut. d. salma earns $20,000 from her 10 percent ownership of acme industrial.
Answers
The income flow from firms to households and from households to firms is depicted in the circular flow diagram below. The company manufactures and sells goods and services to individuals. The households provide labor and other factor services in the manufacturing process for which they are compensated by the firm. As a result, goods, services, and payments are exchanged between the two.
(a) There is a flow of goods from firms to households because Selena buys the firm's goods (milk) and pays them $1 in exchange, so the flow of dollars is from household to firm.
(b) Stuart provides his services to the restaurant, so there is a flow from household to firm in the factor market as Stuart provides his services. Stuart also receives $8 per hour in factor payments, so the dollar flows from firm to household.
(c) The dollar ($40) movement is from household to firm because Shanna paid $40, whereas the flow of services in the form of haircut is from firm to household.
(d) Only the dollar flows in this case, as Salma earns $20,000 on her investment. The flow is from company to family.
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Someone help soon please!
Answers
Answer:
i'd go with some time in colage with ne degree. ;)
Explanation:
PLEASE HELP!
Describe a research process to learn more about colleges:
a. What type of college do you plan to attend and what type of degree do you plan to earn?
b. Describe at least three tools or events you will use to research the type of school you will attend.
Answers
a. To determine the type of college and degree I plan to pursue, I would begin by assessing my interests, career goals, and personal preferences.
b. To research the type of school I will attend, I would utilize several tools and events.
a. I would consider factors such as the field of study I'm interested in, the location, the size of the institution, and any specific program requirements. By thoroughly researching various college options and exploring different degree programs, I can make an informed decision about the type of college and degree that aligns with my aspirations.
b. Firstly, I would explore college search websites like College Board's Big Future or Niche to gather information about different colleges, their programs, admission requirements, and student reviews.
Secondly, attending college fairs or virtual college events would provide an opportunity to directly interact with representatives from different institutions and gather firsthand information.
Additionally, I would make use of college guidebooks and publications to gain insights into the reputation, rankings, and overall quality of the colleges under consideration.
These three tools and events would provide a comprehensive perspective on the colleges and assist me in making an informed decision about the type of school I plan to attend.
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which of the following would make thebest topic sentence
Answers
Answer:
I need a choice...
Explanation:
What will produce more accurate results when giving a survey?
A. Using the word "frequently" in a question
B. Creating face-to-face interviews
C. Adding boxes to check for answers
D. Creating an open questions
Answers
Answer:
Option B; Creating face-to-face interviews
Explanation:
Research has shown that face-to-face interviews tend to produce more accurate results when giving a survey. So the correct answer is option B.
what the importance of teamwork
Answers
Answer:
Businesses thrive when they have a diverse team of people who can contribute individual ideas. Teamwork helps solve problems. Collaboration within a group can help solve difficult problems. Brainstorming is a good opportunity for the team to exchange ideas and come up with creative ways of doing things.
Explanation:
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Answer:
A teamwork environment promotes an atmosphere that fosters friendship and loyalty. These close-knit relationships motivate employees in parallel and align them to work harder, cooperate and be supportive of one another. Individuals possess diverse talents, weaknesses, communication skills, strengths, and habits.
Explanation:
It's okay to lower a vehicle onto a high-reach support stand.
True or False
Answers
Answer:
False
Explanation:
Use high reach vehicle support stands to help stabilize the vehicle for jobs that involve considerable displacement of weight or that shake the vehicle. Never lower vehicles onto vehicle support stands. If this is done, the stands may push the vehicle off the lift.
Selected accounts with some amounts omitted are as follows: Work in Process Oct. 1 Balance 24,500 Oct. 31 Goods finished X 31 Direct materials 91,700 31 Direct labor 186,600 31 Factory overhead X Finished Goods Oct. 1 Balance 14,600 31 Goods finished 343,900 If the balance of Work in Process on October 31 is $210,600, what was the amount of factory overhead applied in October?
Answers
Answer:
See below
Explanation:
Given the above, we will use the below to get the factory overhead
Ending finished goods = Opening balance + Direct materials + Direct labor + Factory overhead - Goods finished during the month
Fixing the values, we will have
= $14,600 + $91,700 + $186,600 + Factory overhead -
Ginger, Inc., has declared a $6.40 per share dividend. Suppose capital gains are not taxed, but dividends are taxed at 10 percent. New IRS regulations require that taxes be withheld at the time the dividend is paid. The company's stock sells for $94.50 per share, and the stock is about to go ex dividend. What do you think the ex-dividend price will be?
Answers
Answer:
$88.74
Explanation:
Ginger incorporation has declared a dividend of $6.40 per share
The dividends are taxed at 10%
= 10/100
= 0.1
The company's stock is sold at $94.50 per share
Therefore, the ex-dividend price can be calculated as follows
Ex-dividend price= Current selling price-dividend(1- tax rate)
= $94.50-$6.40(1-0.10)
= $94.50-$6.40(0.9)
= $94.50-$5.76
= $88.74
Hence the ex-dividend price is $88.74
Suppose eating four apples has a marginal benefit of $5 and the cost for each apple is $3. The optimal choice is
a. eating four apples.
b. eating more than four apples.
c. eating less than four apples.
Answers
An example of a start of a start up cost
Answers
Answer:
what
Explanation:
please write the question properly I can't understand it
Entrepreneurship can be very challenging. Which is not a typical challenge of being an entrepreneur?
Answers
Answer:
Financial reward is not a typical challenge
Explanation:
During the assessment phase of networking, it’s best to be specific about your business _______.
Doing some research on the key players will help you make the most of business _______ or _______.
Chatting with other people at parties or meetings is a great way to make _______.
When out networking people in _______ naturally gravitate to others.
Based on what you've read, respond to the following.
List two of the qualities that help form a strong foundation for business relationships.
What are two important stages in making business connections?
Answers
1. During the assessment phase of networking, it is best to be specific about your business objectives.
2. Doing some research on the key players will help you make the most of business contacts or opportunities.
3. Chatting with other people at parties or meetings is a great way to make connections.
4. When out networking, people naturally gravitate to others.
Business relationships are an essential aspect of all types of business enterprises, whether large or small. Developing good relationships is vital to the success of any business. Two qualities that help form a strong foundation for business relationships are trust and reliability. These two qualities help establish a sense of honesty, transparency, and consistency in business practices.
Trust and reliability are vital components of business relationships because it creates a safe and comfortable environment for business partners to communicate freely, share ideas, and brainstorm on how to grow the business together. In addition, it provides an avenue for open discussions and sharing of constructive feedback that will help businesses identify areas of improvement.
The two most important stages in making business connections are networking and relationship building. Networking is a critical stage in business development because it enables businesses to build a vast array of contacts that they can leverage to grow their business. Relationship building, on the other hand, focuses on building trust and nurturing relationships with clients, partners, and other stakeholders.
This stage requires a long-term commitment and entails consistent communication and transparency to establish a sense of mutual trust and respect. To conclude, strong business relationships are essential to the success of any business. Building such relationships takes time and effort. Trust and reliability are crucial elements that can help establish a strong foundation for business relationships. Networking and relationship building are two vital stages in making business connections, and they require commitment, time, and effort.
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Holly took a prospective client to dinner, and after agreeing to a business deal, they went to the theater. Holly paid $320 for the meal and separately paid $238 for the theater tickets, amounts that were reasonable under the circumstances. What amount of these expenditures can Holly deduct as a business expense
Answers
Answer:
The Tax Cuts and Jobs Act changed how meals and entertainment can be deducted:
The C.O.V.I.D Relief Bill allows businesses to deduct up to 100% of the cost of business meals (regularly it would be 50% only) = $320
But entertainment is not deductible, so $0
total deduction (for 2020) = $320
Dan plans to reduce his work schedule and work only half-time for WJJJ in 2021. He has been writing songs for several years and wants to devote more time to developing a career as a songwriter. Because of the uncertainty in the music business, however, he would like you to make all computations assuming that he will have no income from songwriting in 2021. To make up for the loss of income, Freida plans to increase the amount of time she spends selling real estate. She estimates that she will be able to earn $90,000 in 2021.
a. Assume that all other income and expense items will be approximately the same as they were in 2020 (including the prize winnings).
b. Assume that Willie will be enrolled in college as a full-time student for the summer and fall semesters. No changes regarding Gina and Ben.
c. The $3,100 commission received on January 10, 2021, is included in the $90,000 income to be earned by Freida in 2021.
d. The 22% 2020 marginal tax rate remains the same in 2021.
e. Assume a payroll tax rate for FICA and Medicare of 7.65% and the Kentucky state income rate of 4%.
f. Assume Interest income, dividend income, prize income and the standard deduction will be the same for 2021.
There will be a net $__________reduction in salary and wages which will also result in a $__________decrease the Kentucky income tax, a $ ________decrease in the Social Security tax, and Medicare tax. and a $_____________ decrease in the Federal income taxes.
Answers
This answer was deleted by a Brainly Staff Member for violating our Terms of Service.
how long can a driver be on the road before he has to take a break
Answers
Answer:
A driver must take a 30 minute break for every 6-8 hours on the road.
Explanation:
Beverly Mills has decided to lease a hybrid car to save on gasoline expenses and to do her part to help keep the environment clean. The car she selected is available from only one dealer in the local area, but that dealer has several leasing options to accom-modate a variety of driving patterns. All the leases are for 3 years and require no money at the time of signing the lease. The first option has a monthly cost of $330, a total mileage allowance of 36,000 miles (an average of 12,000 miles per year), and a cost of $0.35 per mile for any miles over 36,000. The following table summarizes each of the three lease
options:
(See photos below)
Answers
Beverly Mills has three leasing options to choose from. Each of these options differs in terms of the monthly cost, the total mileage allowance, and the cost for any miles over the set mileage allowance. Depending on her driving patterns, Beverly Mills can select the option that suits her the best.
Beverly Mills decided to lease a hybrid car to save on gasoline expenses and to do her part to help keep the environment clean. The car she selected is available from only one dealer in the local area, but that dealer has several leasing options to accommodate a variety of driving patterns.All the leases are for 3 years and require no money at the time of signing the lease.
The three lease options available to Beverly Mills are as follows:
Option 1:Monthly cost: $330Total mileage allowance: 36,000 miles (an average of 12,000 miles per year)Cost for any miles over 36,000: $0.35 per mile
Option 2:Monthly cost: $460Total mileage allowance: 45,000 miles (an average of 15,000 miles per year)Cost for any miles over 45,000: $0.45 per mile
Option 3:Monthly cost: $540Total mileage allowance: 60,000 miles (an average of 20,000 miles per year)Cost for any miles over 60,000: $0.55 per mile
Therefore, Beverly Mills has three leasing options to choose from. Each of these options differs in terms of the monthly cost, the total mileage allowance, and the cost for any miles over the set mileage allowance. Depending on her driving patterns, Beverly Mills can select the option that suits her the best.
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Which of the following is one result of stringent 21st century accounting
regulations?
Answers
A result of the stringent 21 st century accounting regulations enacted was B. they make accounting more complex.
Why did accounting regulations become more stringent ?Over time, accounting standards have become more stringent, and agencies and professional associations make sure that these regulatory rules serve the public's and businesses' best interests. These agencies assist businesses in comprehending the domestic and international legal requirements they must meet.
An organization is in regulatory compliance when it strictly complies with all applicable local, national, and international laws. Businesses may be subject to financial, fiscal, environmental, or business and tax code laws depending on their size and industry. However, why do financial services rank first among the industries most adversely affected by these regulatory laws?
As a result, accounting regulations have made accounting much more complex in order to ensure that companies abide by accounting best practices.
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Options for this question are:
they make accounting simplerthey make accounting more complexthey unify international tax codesthey address the needs of small businessesSeeing a movie at a theatre would be considered a(n)
want.
O unlimited
O economic
noneconomic
limited
Answers
Answer:
economic
Explanation:
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What is the relationship between the price of a product and the quantity supplied?
Answers
Answer:
There is a fundamental law in economics called the law of supply and demand. It states that when prices for one good increase, while the prices for other goods stay the same, quantity supplied increases and quantity demanded decreases. This relationship can be seen on a graph created by economists called "demand curve," where the curve slopes down and to the right.
Explanation:
In economics, the price of a product is determined by the intersection between supply and demand. Demand, of course, varies with factors including time of year and economic growth. Supply will also change with variations in weather conditions and fluctuations in crop production rates. In general, producers want to get as close to this point as they can without going over it where they’ll create more goods than people are willing to buy at that particular price point or time period. This fallacy would result in a surplus which could not be sold off on the market at all because customers do not have enough purchasing power for it even though it is being offered for sale too cheap.
Answer:
Price and quantity supplied move in the same direction; as price decreases, quantity supplied decreases and as price increases, quantity supplied increases.
Explanation:
Emma is the team lead at a data analytics firm. She believes in encouraging her team members to fulfill their job responsibilities by rewarding them when they achieve their goals and punishing them when they don’t. Based on her leadership style, her team consistently meets company expectations. Based on the scenario, is Emma exhibiting transformational leadership? If you think she is, explain why by including and describing two specific types of transformational behavior based on the scenario. If not, explain how she can exhibit transformational leadership by including and describing two specific types of transformational behavior.
Answers
Answer:
Emma is not exhibiting transformational leadership style
Explanation:
As per the scenario mentioned in the question, it is noted that Emma is not exhibiting transformational leadership style instead this is an example of transactional leadership style.
In order to exhibit transformational leadership, Emma will need to motivate and encourage her employees to accomplish and adapt to change that help grow and achieve future success of the organisation. This can be done by setting an example at her level through developing a strong sense of corporate culture, independence and employee ownership in the workplace.
Another behaviour she could exhibit is by avoiding micromanagement. Instead she should train her employees to make decision on their own and take responsibility of their work. This way employees will have space to think creatively and will work to find solutions to the problems faced by them in their workplace.