the business diamond is useful for designing new organizations and diagnosing organizational troubles. which component of the business diamond would include payroll, accounting, and inventory?
Answers
The component of the business diamond that would include payroll, accounting, and inventory is the Infrastructure component.
The business diamond is a framework used for designing new organizations and diagnosing organizational issues. It consists of four interconnected components: Strategy, Structure, Processes, and Infrastructure.
The Infrastructure component of the business diamond encompasses the systems, resources, and support functions that are essential for the smooth operation of an organization. It includes the administrative and operational elements that provide the necessary foundation for the organization to function effectively.
Payroll, accounting, and inventory management are examples of crucial functions within the Infrastructure component. These activities are related to the financial and operational aspects of the organization. Here's a breakdown of each:
1. Payroll: Payroll involves the process of calculating and disbursing employee wages, salaries, and benefits. It includes tasks such as tracking working hours, applying payroll deductions, and ensuring accurate and timely payment to employees.
2. Accounting: Accounting encompasses the recording, analyzing, and reporting of financial transactions and information within the organization. It involves tasks like bookkeeping, financial statement preparation, budgeting, and financial analysis. Accounting provides insights into the organization's financial health and performance.
3. Inventory: Inventory management involves overseeing the storage, tracking, and control of goods or products held by the organization. It includes tasks such as monitoring stock levels, managing replenishment, optimizing inventory turnover, and ensuring accurate record-keeping.
These functions are critical for organizational operations, financial management, and decision-making. They provide the necessary infrastructure to support the organization's overall strategy, structure, and processes.
By understanding and effectively managing the Infrastructure component of the business diamond, organizations can ensure smooth internal operations, accurate financial management, and efficient resource utilization. It plays a vital role in facilitating the achievement of strategic goals and addressing organizational challenges.
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Related Questions
A significant summer drought takes place in several states, including lowa, Nebraska, Illinois, Minnesota, Indiana, and others. Because
of the drought, the corn crop is severely damaged and limited for market. How will the drought and damage to the corn market likely
affect the overall price of goods?
A)
The drought and damage to the corn market will likely have little effect on
the overall price of goods, since corn production is extremely small in the
United States.
B)
The drought and damage to the corn market will likely have little effect on
the overall price of goods, as most Americans have excluded starches, Like
corn, from their diets.
The drought and damage to the corn market will likely have a great effect
on the overall price of goods, as corn-producers are required members of
the Federal Reserve Board of Governors.
D)
The drought and damage to the corn market will likely have a great effect
on the overall price of goods, as corn is used as a component for many
goods produced and sold in the United States
Answers
Answer: D
Explanation:
Home Depot's earnings per share are more than the same for
Walmart (based on most recent numbers)
True
False
Answers
The statement "Home Depot's earnings per share more than the same for Walmart (based on most recent numbers)" is true.
First, we need to find the most recent earnings per share (EPS) for both Home Depot and Walmart. The EPS is calculated as a company's net income divided by the number of outstanding shares.
At the time of this response, Home Depot's EPS is $12.35, and Walmart's EPS is $5.29.
Comparing the two EPS values, Home Depot's EPS ($12.35) is higher than Walmart's EPS ($5.29).
So, the statement "Home Depot's earnings per share are more than the same for Walmart (based on most recent numbers)" is True.
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What happens to the federal funds rate when there is a recession?
Answers
During a recession, the federal funds rate is typically lowered in order to stimulate economic growth and encourage borrowing and spending. When the federal funds rate is lowered, it becomes less expensive for banks to borrow money from the Federal Reserve, which can then be lent to consumers and businesses at lower interest rates. This can help stimulate economic activity and potentially lead to an economic recovery. However, the exact response of the federal funds rate to a recession will depend on a variety of factors, including the severity of the recession and the specific policies implemented by the Federal Reserve.
n addition to the discussion of tax incidence or who bore the burden of taxation through tax payments and price changes we can equally move to analyzing the effect of taxes on market quantities. How do you generally measure the efficiency of a commodity tax?
Answers
Commodity tax efficiency is measured by analyzing deadweight loss, which quantifies the reduction in economic welfare caused by the tax through a comparison of consumer and producer surplus.
To measure the efficiency of a commodity tax, economists analyze the concept of deadweight loss. Deadweight loss refers to the loss of economic efficiency that occurs when the tax distorts consumer and producer behavior in the market. It represents the reduction in overall welfare compared to the situation without the tax.
The deadweight loss caused by a commodity tax can be measured by comparing the equilibrium quantity and price in the presence of the tax to the efficient equilibrium that would exist without the tax. The difference between the two quantities represents the loss of traded goods due to the tax, and this reduction in quantity results in a decrease in consumer and producer surplus. By quantifying this deadweight loss, economists can assess the efficiency implications of the tax and evaluate its impact on the market.
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Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called Group of answer choices auditing. economics. finance. accounting.
Answers
Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called accounting.
Accounting is a fundamental process in business and financial management. It involves systematically recording financial transactions, classifying them into appropriate categories, and summarizing the information to create financial statements such as the income statement, balance sheet, and cash flow statement. These financial statements provide a snapshot of a company's financial performance, position, and cash flows, enabling decision-makers to analyze and make informed decisions about the organization's operations, investments, and financial strategies.
While auditing, economics, and finance are related disciplines, each has its own distinct focus. Auditing involves examining and evaluating financial records and statements to ensure accuracy, compliance, and reliability. Economics studies the production, distribution, and consumption of goods and services within an economy. Finance, on the other hand, focuses on managing financial resources, investments, and the financial aspects of decision making. However, accounting serves as the foundation for providing the necessary financial information in these areas.
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DO NOT ANSWER THIS QESTION
Answers
Answer: ok
Explanation:
The following selected accounts and normal balances existed at year-end. Make the four journal entries required to close the books: Accounts receivable $45,000, Prepaid insurance 4,500, Land 50,000, Accounts payable 39,000, Notes payable 55,000, Retained earnings 12,000, Dividends 2,000, Fees earned revenue 65,000, Selling expenses 34,500, Administrative expenses 12,750, Miscellaneous expense 1,250.
Answers
The required Journal Entries that are required to close the book for the selected four accounts at year-end include the following:
Journal Entries:
December 31,
Debit Fees earned revenue $65,000
Credit Income Summary $65,000
To close the Fees revenue to income summary.
Debit Income Summary $34,500
Credit Selling expenses $34,500
To close the selling expenses to income summary.
Debit Income Summary $12,750
Credit Administrative expenses $12,750
To close the administrative expenses to income summary.
Debit Income Summary $1,250
Credit Miscellaneous expense $1,250
To close the miscellaneous expenses to income summary.
Data Analysis:
1. Accounts to be closed to Income Summary are:
Fees earned revenue $65,000 Income Summary $65,000
Income Summary $34,500 Selling expenses $34,500
Income Summary $12,750 Administrative expenses $12,750
Income Summary $1,250 Miscellaneous expense $1,250
2. Assets and Liabilities accounts:
Accounts receivable $45,000
Prepaid insurance 4,500
Land 50,000
Accounts payable 39,000
Notes payable 55,000
Retained earnings 12,000
Closed to Retained earnings: Dividends 2,000
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The benefits of specialization can be used to explain why:
a) workers prefer to work on a variety of tasks during the day.
b) machines are more productive than human workers.
c) individuals and nations benefit from trade.
d) big companies take advantage of smaller ones.
Answers
The benefits of specialization can be used to explain why big companies take advantage of smaller ones.
In terms of economics, specialization refers to concentrating on one task as opposed to many tasks, allowing employees to become experts in that one task. This is a fundamental idea in education. A person might not be skilled at a particular task when they try it for the first time. The more time invested in honing a skill or learning it, the better at it one becomes the more effective. Workers are able to concentrate on a few or even one job because labor is distributed among them. They become more proficient at a job the more they concentrate on it, which reduces the time and cost necessary to produce a good. In other words, more goods can be produced with the same amount of work and money. A business can lower the price of its products or services once specialization takes place and economies of scale are realized because it is less expensive to produce those products or deliver those services. This gives the company a competitive edge in the industry
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edmentum end of semester: california career explorations
Answers
California Career Explorations is an end-of-semester program offered by Edmentum that aims to provide students in California with valuable insights into various career options. The program helps students explore different career paths, gain practical knowledge, and make informed decisions about their future.
1. Introduction to California Career Explorations: Begin by explaining that California Career Explorations is a program offered by Edmentum, an educational platform, specifically designed for students in California.
2. Purpose of the Program: Emphasize that the program is designed to help students explore different career options and gain a better understanding of their interests and aspirations.
3. Career Path Exploration: Highlight that California Career Explorations provides resources and guidance for students to explore various career paths. This includes information about different industries, job roles, and the skills required for each profession.
4. Practical Knowledge: Explain that the program goes beyond theoretical information and provides practical knowledge through hands-on activities, simulations, and case studies. This enables students to gain a realistic understanding of different careers.
5. Industry Experts and Mentors: Mention that California Career Explorations invites industry experts and mentors to share their experiences and insights with the students. This interaction allows students to learn directly from professionals in their desired fields.
6. Career Decision-Making: Highlight that the program also focuses on helping students make informed career decisions. It provides tools and resources to assess their skills, interests, and values, and assists them in aligning these factors with suitable career paths.
7. Personalized Learning: Explain that the program offers personalized learning experiences, allowing students to explore specific areas of interest and tailor their exploration based on their individual preferences.
8. Long-Term Benefits: Conclude by emphasizing that participating in California Career Explorations can have long-term benefits for students, as it helps them make informed decisions about their future career paths and equips them with the necessary knowledge and skills to succeed in their chosen fields.
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A home improvement store has an assembled kids playset on display. There
are no signs waming parents not to let their kids play on it. When a child
climbs on the playset, it collapses and the child breaks her wrist. The playset
was not assembled properly for use because it was only for display. Is the
home improvement store negligent?
A. Yes. The store has a duty of care to provide a safe environment
and not assembling the playset correctly or putting up warning
signs is a breach of duty. The breach caused the playset to
collapse and resulted in harm to the child.
O B. Yes. Home improvement stores are held to a higher standard of
care than other stores because they sell some dangerous items.
Even though a reasonable person wouldn't climb the playset, the
store is still negligent.
O C. No. Home improvement stores do not have a duty to ensure the
safety of their customers because they sell some dangerous
items. Without duty to the customer, the store cannot be negligent.
OD. No. The store is not in violation of a breach of duty because
customers should know never to climb on or use anything on
display in a store. Without breach of duty, the store is not
negligent
Answers
Answer:
a. yes. the store has a duty of care to provide a safe environment and not assembling the playset correctly or putting up a sign is a breach of duty. and it resulted in harm.
Explanation:
a p e x
Complete this paragraph about the impact of trade on American jobs based on the video you just watched.
New Balance manufactures its shoes in
. The Obama administration proposed a trade agreement called the
. It is
to hire Vietnamese workers than American workers. New Balance executives are hoping to avoid their workers losing their
because of the trade agreement.
Answers
Answer:
The radius of the earth is 6371 km and the weight of an object on the earth is 800 N. The weight of the object at an altitude of 6371 km above the surface of the earth
Answer:
New England
Trans-Pacific Partnership
10 times cheaper
Jobs
Explanation:
Garden, Inc. a qualifying 501c3 organization, incurs lobbying expenditures of $210,000 during the taxable year. Exempt purpose expenditures are $900,000. If Garden makes the election under section 501h to make lobbying expenditues on a limited basis, its tax liability resulting from the lobbying expenditure is:A. $0B. $12,500C. $50,000D.$60,000
Answers
The minimum tax liability for organizations that make the Section 501h election is $500, so the tax liability is $12,500. The correct answer is B. $12,500.
When a qualifying 501c3 organization incurs lobbying expenditures, it must file Form 990-T and pay taxes on the amount of those expenditures that exceed the lobbying expenditure ceiling amount.
The lobbying expenditure ceiling amount is calculated based on the organization's exempt purpose expenditures. For Garden, Inc., the lobbying expenditure ceiling amount is $450,000 (which is 5% of its exempt purpose expenditures of $900,000).
Since Garden incurred lobbying expenditures of $210,000, which is less than the lobbying expenditure ceiling amount of $450,000, it can make the election under section 501h to make lobbying expenditures on a limited basis.
If Garden makes this election, its tax liability resulting from the lobbying expenditure would be 5.0% of the excess lobbying expenditures over the lobbying expenditure ceiling amount.
In this case, the excess lobbying expenditure is $210,000 - $450,000 = -$240,000 (which is negative because the lobbying expenditure is less than the lobbying expenditure ceiling amount).
Therefore, the tax liability is 5.0% of -$240,000, which is -$12,000. However, the minimum tax liability for organizations that make the Section 501h election is $500, so the tax liability is $500 - (-$12,000) = $12,500.
Therefore, the correct option is B. $12,500.
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pension plan assets were $80 million at the beginning of the year and $83 million at the end of the year. the return on plan assets was 5%. at the end of the year, cash invested in the pension fund was $7 million. what was the amount of the retiree benefits paid by the trustee?
Answers
The amount paid by the trustee to retiree benefits is equal to $8,000,000, considering pension plan assets value, return and cash invested.
Given information:
Pension plan asset at beginning = $80,000,000
pension plan asset at the end = $83,000,000
return = 5%*80,000,000 = $4,000,000
investment in pension fund = $7,000,000
Pension plan asset = Plan asset at the beginning of year + Actual return + Cash contribution - Retiree benefits
Retiree benefits = $80000000 + $4000000 + $7000000 -$83,000,000
retiree benefits = $8,000,000
A resource having economic worth that a person, business, or nation possesses or controls with the hope that it would someday be useful is referred to as an asset. The balance sheet of a business lists assets. They are separated into four categories: tangible, financial, fixed, and current. They are acquired or manufactured in order to raise a stock profit or improve the operation of the company.
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According to the video, what are some decisions that Architects make? Check all that apply. how much money a building will be worth when finished what traffic patterns people will follow how people will feel when they enter or leave a building how many laborers are needed for a project where to put doors, walls, and windows what building materials to use which people will be allowed to enter a building
Answers
Answer:
2,3,5,6
Explanation:
Answer:
other guy is correct
Explanation:
Values of Strategic Group Concept:
Strategic groups are helpful in thinking through the implications of each industry ______ for the strategic group as a whole.
Answers
Strategic groups are helpful in thinking through the implications of each industry dynamic for the strategic group as a whole.
In any industry, companies with similar business strategies, resources, and competitive positions often form strategic groups. These groups can provide valuable insights into the industry's competitive landscape, opportunities, and threats.
By examining strategic groups, businesses can identify the key factors that differentiate one group from another, such as market segmentation, product offerings, or geographic location. This understanding allows companies to better adapt their strategies in response to the changing industry dynamics.
Analyzing strategic groups also enables businesses to identify potential gaps or untapped opportunities within the industry. Companies can leverage these insights to develop unique value propositions and competitive advantages, ultimately enhancing their position within the strategic group.
Furthermore, strategic groups can help businesses anticipate and respond to potential shifts in industry dynamics, such as technological advancements or regulatory changes. By closely monitoring the actions and performance of competitors within their strategic group, companies can stay ahead of emerging trends and proactively adjust their strategies.
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What is the meaning of time recovering
Answers
Answer:
to recover a wound
Explanation:
time to recover the sentence shows recover what can possibly recover ofcource a wound.
which would likely increase the average level of interest rates for auto loans?
Answers
Several factors can influence the average level of interest rates for auto loans. Here are a few factors that could potentially increase the average interest rates for auto loans:
Economic conditions: If the overall economy is experiencing inflationary pressures, higher interest rates may be implemented by central banks to control inflation. This can lead to an increase in borrowing costs, including auto loan interest rates.
Monetary policy decisions: Central banks or monetary authorities may raise benchmark interest rates as part of their monetary policy measures. These rate hikes can have a ripple effect on interest rates across various lending products, including auto loans.
It is important to note that interest rates for auto loans can vary based on individual borrower factors such as credit history, loan term, down payment, and the specific lender's policies. The factors mentioned above provide a general understanding of what could contribute to an increase in average interest rates for auto loans.
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What is the difference between force.com and salesforce.com license?
Answers
The primary difference between Force.com and Salesforce.com licenses lies in the functionality and purpose they serve.
Force.com licenses are designed for users who require access to custom applications built on the Salesforce platform, but not necessarily the CRM features that Salesforce.com offers. This license type grants users access to custom objects, tabs, and apps, but does not include standard CRM objects like Leads, Opportunities, and Cases. It is suitable for organizations looking to build and manage applications specific to their business processes. Salesforce.com licenses, on the other hand, are tailored for users who need comprehensive access to the platform's CRM features, including Sales Cloud, Service Cloud, and Marketing Cloud. These licenses provide access to both standard CRM objects and custom objects. Salesforce.com licenses are ideal for organizations that need an all-encompassing CRM solution for sales, customer service, and marketing. In summary, Force.com licenses focus on custom application access, while Salesforce.com licenses grant users full access to the platform's CRM functionalities. Choosing the right license depends on your organization's needs and the extent of customization required.
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Why is the price floor above the equilibrium point and the price ceiling below the equilibrium point? Please explain as well!
Answers
Answer:
THE GIVEN STATEMENT IS WRONG.
The prices and the quantities of the products are usually set up by considering demand and supply. Sometimes, people may not agree with the price of a certain thing. Due to these reason, the government may set a maximum and minimum price limits on a product so it always remains in a certain range.
The upper limit is Price Ceiling. When a Price Ceiling is set below the equilibrium point, the demand will exceed the supply and shortages will occur.
The lower limit is Price Floor. When a price floor is set above the equilibrium point, the supply will exceed the demand, resulting in surplus quantity of a product
Nathan is analyzing the demand for baseball bats that illuminate when they hit something. The managing director of his company has asked him
to understand the type of need that exists for such a product. What are the two types of needs that Nathan should consider?
Nathan should consider the
B and
needs that would exist for a self-illuminating baseball bat.
Reset
Next
Answers
Answer:
Isuzu trooper the intended addressee please notify the best of
i am making marketing plan for a company can anyone help me in making swot analysis
Answers
A SWOT analysis is to determine the strengths as well as the weaknesses, and threats associated with the company.
What is SWOT analysis?SWOT analysis is been carry out in an organizations to develop a full awareness in term of strength and weakness so as to be able to make business decision.
Steps that are required in SWOT analysis are:
Checking external environment.Carry out analysis on industry and competitionKnow the external opportunities and threats.Since the information is not complete, this is a guide on SWOT analysis
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Goodwill is to be recorded. how much goodwill should be recognized, and what is darrow’s beginning capital balance?
Answers
$410,000 goodwill should be recognized, and $270,000 is Darrow's beginning capital balance.
The implied value of the company is $900,000 ($270,000 ÷ 30%). Because the money is going to the partners rather than into the business, the capital total is $490,000 before realigning the balances. Hence, goodwill of $410,000 is recognized based on the implied value ($900,000 - $490,000). This goodwill is assumed to represent unrealized business gains and is attributed to the original partners according to their profit and loss ratio. They will then each convey 30 percent ownership of the $900,000 partnership to Darrow for a capital balance of $270,000.
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The question is incomplete. Please read below to find the missing content.
Following are the capital account balances and profit and loss percentages (indicated parenthetically) for the William, Jennings, and Bryan partnership:
William (40%) $220,000
Jennings (40%) $160,000
Bryan (20%) $110,000
Darrow invests $270,000 in cash for a 30 percent ownership interest. The money goes to the original partners. Goodwill is to be recorded. How much goodwill should be recognized, and what is Darrow's beginning capital balance?
The minimum rates that a firm must pay to attract the funds it uses is determined by _____.
Answers
The minimum rates that a firm must pay to attract the funds it uses is determined by the returns demanded by investors or required rate of return(RRR).
The Required Rate of Return is the base measure of benefit i.e. return a financial backer will look for or get for accepting the gamble of putting resources into a stock or one more sort of safety.
RRR is likewise used to work out how productive a task may be comparative with the expense of financial that venture.
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Gordon company provided the following information for the year 2020: retained earnings, beginning balance: $147,000 retained earnings, ending balance: $125,000 dividends payable, beginning balance: $84,000 dividends payable, ending balance: $95,000 if gordon company reported a net income of $78,000 for the year, what was the amount of dividends paid during the year
Answers
The amount of dividends paid by Gordon Company during the year 2020 was $100,000. Gordon Company, we can determine the amount of dividends paid during the year 2020.
Firstly, let's calculate the change in retained earnings for the year. The beginning balance of retained earnings is $147,000, and the ending balance is $125,000. The difference between these values is a decrease of $22,000.
Now, we know that the company reported a net income of $78,000 for the year. Retained earnings typically increase when a company generates net income, and decrease when dividends are paid out. So, we can create an equation to find the dividends paid:
Change in retained earnings = Net income - Dividends paid
- $22,000 = $78,000 - Dividends paid
Now, solving for dividends paid, we get:
Dividends paid = $78,000 - (-$22,000) = $78,000 + $22,000 = $100,000
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___ requrements are courses that build knowledge and skills in a specific field.
A. major
B. general studies
C. specialization
D. elective
Answers
D. elective requrement are courses that build knowledge and skills in a specific field
Give all start up costs for opening a salon that has 8 workers with 8 stations and that does everything hair and wax related. Include the quantities for each item and the pricing
Answers
Rent/Lease for the salon space: $2,000 - $10,000
Build-out costs: $5,000 - $15,000
Equipment and supplies:
8 stations, chairs, and mirrors: $5,000 - $10,000
8 styling stations (styling chairs, styling stations, styling tools): $8,000 - $15,000
8 hair dryers: $4,000 - $6,000
8 hair washing stations: $8,000 - $12,000
8 hair cutting stations: $8,000 - $12,000
8 waxing stations: $8,000 - $12,000
Hair color, waxing, and other supplies: $5,000 - $10,000
Marketing and advertising costs: $2,000 - $5,000
Legal and accounting fees: $1,500 - $3,000
Insurance (liability, property, and worker's compensation) $2,000 - $5,000
Employee salaries: $8,000 - $12,000
Miscellaneous costs (utilities, phone, internet, etc): $5,000 - $10,000
Note that these numbers are rough estimations, and the cost can vary depending on location and other factors.
Carla creates a trust to convey her assets to her children. Her brother, Alvin, is placed in charge of making sure the terms of the trust are carried out. In this example, Carla is the ________.
Answers
In this example, Carla is the truster.
A child asset is any asset that is tied to or closely linked to another asset, which is its parent asset, according to the broadest definition. It is an element or component within a bigger asset that can be maintained, repaired, or replaced.
Start by reducing. Consolidate and close any unnecessary brokerage, Demat, and bank accounts. Keep only the bare minimum. Ensure that nominations are finished for the active accounts, that online access is enabled, and that usernames are handed along with inheritance.
Family assets are assets (real estate, pensions, enterprises, vehicles, etc.) accumulated by one or both of the parties during the duration of the relationship. This also covers the increase in the equity or worth of a resource that existed independently of the relationship.
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It's it ethical and socially responsible for large corporations to lobby against SEC rule requiring that they report the ratio of their CEO's pay to that of their average employee
Answers
Answer:
"No" is the correct response. A further explanation is provided below.
Explanation:
Along with comparison to the average individual or working people although the CEO seems to be the top-level title than the worker or contractor. Consequently, the compensation of such a CEO's job is not compared with the compensation of that same typical individual employee business throughout the firm.This behavior would be not only ethically reprehensible but economically accountable for such SEC regulation lobbying. SEC guidelines don’t mandate their CEO's proportion towards the average worker to be reported.Thus, the above is the correct response.
Why are ethics important in the workplace?
Answers
Answer:
Ethics is important in a workplace because :
a) It creates a positive and safe work environment.
b) It helps to instill professional behavior in employees
c) It helps to maintain orderliness in an organization and prevents chaos from happening.
d) It prevents discrimination or favouritism in organizations.
e) Workplace Ethics ensures that all employees are treated fairly.
f) Workplace Ethics improves the relationships of employees with one another and this lead to the development of team work amongst employees.
Explanation:
Ethics at a workplace or Workplace Ethics can be defined as the standards or regulations that are put in place by a firm or organisation that helps to guide the behavior or attitude of employees at work such that safe work ambience is created and employees relate in a professional manner to one another.
Examples of Workplace Ethics are:
a) Punctuality
b) Honesty
c) Loyalty
d) Productivity
e) Dependability
Ethics at the workplace in important because:
a) It creates a positive and safe work environment.
b) It helps to instill professional behavior in employees
c) It helps to maintain orderliness in an organization and prevents chaos from happening.
d) It prevents discrimination or favouritism in organizations.
e) Workplace Ethics ensures that all employees are treated fairly.
f) Workplace Ethics improves the relationships of employees with one another and this lead to the development of team work amongst employees.
Answer: professional organizations
Explanation: took the test (:
The following selected transactions were completed by Capers Company during October of the current year: Oct. 1 Purchased merchandise from UK Imports Co., $14,448, terms FOB destination, n/30. 3 Purchased merchandise from Hoagie Co., $9,950, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $220 was added to the invoice. 4 Purchased merchandise from Taco Co., $13,650, terms FOB destination, 2/10, n/30. 6 Issued debit memo to Taco Co. for $4,550 of merchandise returned from purchase on October 4. 13 Paid Hoagie Co. for invoice of October 3. 14 Paid Taco Co. for invoice of October 4, less debit memo of October 6. 19 Purchased merchandise from Veggie Co., $27,300, terms FOB shipping point, n/eom. 19 Paid freight of $400 on October 19 purchase from Veggie Co. 20 Purchased merchandise from Caesar Salad Co., $22,000, terms FOB destination, 1/10, n/30. 30 Paid Caesar Salad Co. for invoice of October 20. 31 Paid UK Imports Co. for invoice of October 1. 31 Paid Veggie Co. for invoice of October 19. The following selected transactions were completed by Capers Company during October of the current year: Oct. 1 Purchased merchandise from UK Imports Co., $14,448, terms FOB destination, n/30. 3 Purchased merchandise from Hoagie Co., $9,950, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $220 was added to the invoice. 4 Purchased merchandise from Taco Co., $13,650, terms FOB destination, 2/10, n/30.
Answers
Answer:
Oct. 1 Purchased merchandise from UK Imports Co., $14,448, terms FOB destination, n/30.
Dr Merchandise inventory 14,448
Cr Accounts payable 14,448
3 Purchased merchandise from Hoagie Co., $9,950, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $220 was added to the invoice.
Dr Merchandise inventory 10,170
Cr Accounts payable 10,170
4 Purchased merchandise from Taco Co., $13,650, terms FOB destination, 2/10, n/30.
Dr Merchandise inventory 13,650
Cr Accounts payable 13,650
6 Issued debit memo to Taco Co. for $4,550 of merchandise returned from purchase on October 4.
Dr Accounts payable 4,550
Cr Merchandise inventory 4,550
13 Paid Hoagie Co. for invoice of October 3.
Dr Accounts payable 10,170
Cr Cash 9,971
Cr Purchase discounts 199
14 Paid Taco Co. for invoice of October 4, less debit memo of October 6.
Dr Accounts payable 9,100
Cr Cash 8,918
Cr Purchase discounts 182
19 Purchased merchandise from Veggie Co., $27,300, terms FOB shipping point, n/eom.
Dr Merchandise inventory 27,300
Cr Accounts payable 27,300
19 Paid freight of $400 on October 19 purchase from Veggie Co.
Dr Merchandise inventory 400
Cr Cash 400
20 Purchased merchandise from Caesar Salad Co., $22,000, terms FOB destination, 1/10, n/30.
Dr Merchandise inventory 22,000
Cr Accounts payable 22,000
30 Paid Caesar Salad Co. for invoice of October 20.
Dr Accounts payable 22,000
Cr Cash 21,780
Cr Purchase discounts 220
31 Paid UK Imports Co. for invoice of October 1.
Dr Accounts payable 14,448
Cr Cash 14,448
31 Paid Veggie Co. for invoice of October 19.
Dr Accounts payable 27,300
Cr Cash 27,300