Answers
2. Create a more professional presence by using a profile photo that looks professional and a username that doesn’t include vulgar language or slang terms.
3. Connect with other professionals in your industry and join relevant groups. Showing that you are actively engaged in your field may help potential employers view you favorably.
4. Be selective about who you accept as a friend or follow. Your extended network may be seen when potential employers search for you, so you should be cautious about who you invite to your page.
5. Share relevant content on your page that accurately reflects your skills and expertise. Potential employers are more likely to take notice if you’re engaging in intellectual conversations and actively sharing information about industry trends.
6. Avoid using offensive or inflammatory language, and always keep conversations professional and respectful.
7. Always be aware of how your actions on social media can represent you to potential employers. Think before you post and consider how your actions could impact your chances of success in the job market.
Related Questions
Annual oil production for a region was about 550 million tons in 1980 and increased at a rate of 7.6% per year. Estimate the oil production in 2000. Use the exponential growth formula.
Answers
If the annual oil production for a region was about 550 million tons in 1980 and increased at a rate of 7.6% per year, then oil production in the year 2000 is 2,038 million.
How to find?Given that initial production is 550 million and the rate of growth is 7.6% per year.
The exponential growth formula is A= A₀(1+rt)
where Ais the final value,
A₀ is the initial value,
r is the rate of growth and
t is the time in years.
Here A₀= 550
Then the number of years is
t= 2000-1980
= 20 years
Rate of growth is-
r= 7.6/100= 0.076%
Substitute all the values into the equation exponential growth and solve for A.
A= 550( 1+ 0.076)²⁰
= 550(1.076)²⁰
= 550. 4.327583204
= 2,380 million.
Therefore the oil production in the year 2000 is 2,380 million.
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Answer:
2,380 millionExplanation:
Using the A = p (1 + r ) ^t:-
→ P = 550 million
→ R = 7.6% or 7.6/100 = 0.076
→ t = 2000 - 1980 = 20
\(\mathrm{A = 550(1+ 0.076) ^{20}}\)\(\mathrm{A = 550(1.076) ^{20}}\)\(\mathrm{A = 2380}\)Therefore, the oil production in 2000 would be around 2,380 million.
_________________________
Hope this helps!
A customer pays a purchase price of $1,375 for a bond. This purchase price could also be referred to as
Answers
Thank You!
Pls mark brainliest
e United States and China each produce steel and toys.
The following are the production possibility schedules for each nation.
Answer the questions below based on the PPF schedules.
China
A
B
C
D
E
Steel
8
6
4
2
0
Toys
0
10
20
30
40
United States
A
B
C
D
E
Steel
16
12
8
4
0
Toys
0
12
24
36
48
Which country has absolute advantage in the production of steel?
Which country has absolute advantage in the production of toys?
Which country has comparative advantage in the production of toys?
Which country has comparative advantage in the production of steel?
If the two countries specialize and trade with each other, which country will import steel?
Answers
Katz (1955) identified three categories of skills that should be developed in order to improve administrative leadership. Which type of skills are characterized by the ability to work cooperatively with group members, being aware and sensitive to the needs of others, and building a trusting environment?
Answers
There are three essential skill sets for successful leaders, according to Robert Katz: interpersonal (or human) skills, conceptual skills, and technical skills.
How does the Katz Three Skill Approach work?When Robert Katz published his article titled "Skills of an Effective Administrator" in the Harvard Business Review in 1955, the skills theory of leadership became a well-known concept. Katz's personal observations of executives at work and field research in administration served as the foundation for the study. In the paper, he suggested that three fundamental personal skills are necessary for effective administration or leadership: human, conceptual, and technical He identified these three areas of expertise as the most essential skills that the executives shared and utilized frequently.
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Rovinsky Corporation, a company that produces and sells a single product, has provided its contribution format income statement for November. Sales (6,900 units) $400,200 Variable expenses 262,200 Contribution margin 138,000 Fixed expenses 103,500 Net operating income $34,500 If the company sells 6,800 units, its net operating income should be closest to: (Do not round intermediate calculations.)
Answers
If Rovinsky Company sells 6,800 units, its net operating income should be closest to $32,500.
What is a contribution-format income statement?A contribution format income statement is an income statement that deducts the variable costs from the sales revenue to arrive at the contribution margin.
From the contribution margin, the fixed costs are deducted to arrive at the net operating income or loss.
Data and Calculations:Rovinsky Corporation
Contribution-format Income StatementFor November 30, 2020
Sales (6,900 units) $400,200 $58
Variable expenses 262,200 38
Contribution margin 138,000 $20
Fixed expenses 103,500
Net operating income $34,500
Thus, if Rovinsky Company sells 6,800 units, its net operating income should be closest to $32,500 ($20 x 6,800 - $103,500).
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GIVING 50 POINTS AND BRAINLIEST
PLS HURRY
Answers
Answer:
i aint downloading the document sounds fishy
it sounds fishy sorry- lol
Answer:
yeah sounds fishy but thanks anyways
Explanation:
sorryyy
Which one is the correct answer ?
Answers
Answer:
I believe its B.
Explanation:
C and D don't make any sense since it is impractical to suffer during the hot months, and A is wrong (I believe) since the budget needs to be shifted to bring attention to the AC. So by elimination its B.
Which type of business is owned by anyone who wants to buy stock?
sole proprietorship
limited partnership
public corporation
private corporation
(I think the answer is public corporation)
Answers
The type of business owned by someone who wants to buy stock is C. public corporation.
What is a public corporation ?A public corporation is a type of business organization that is owned by shareholders who can buy and sell stocks in the company. When a person buys stock in a public corporation, they become a part owner of the company and have a financial stake in its success.
Public corporations are usually large, well-established companies that have gone through the process of an initial public offering (IPO) to raise funds by selling shares of ownership to the public.
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Answer: public corporation
Explanation:
what is development
Answers
Answer:
when your slowly growing or developing a new tecnique of something
Explanation:
Sweet Catering completed the following selected transactions during May 2016:
May 1: Prepaid rent for three months, $2,400
May 5: Received and paid electricity bill, $60
May 9: Received cash for meals served to customers, $2,610
May 14: Paid cash for kitchen equipment, $3,880
May 23: Served a banquet on account, $2,050
May 31: Made the adjusting entry for rent (from May 1).
May 31: Accrued salary expense, $730
May 31: Recorded depreciation for May on kitchen equipment, $780
If Sweet Catering had recorded transactions using the Cash method, how much net income (loss) would they have recorded for the month of May? If there is a loss, enter it with parentheses or a negative sign.
Answers
If Sweet Catering had recorded transactions using the Cash method, the net loss recorded for the month of May would have ($3,730).
What is the cash basis of accounting?The cash basis of accounting is the opposite of the accrual basis. This accounting method records transactions based on the occurrence of cash receipts and payments.
On the other hand, the accrual basis takes into consideration all transactions that pertain to the period whether cash movements are involved or not.
Transaction Analysis:May 1: Prepaid Rent $2,400 Cash $2,400
May 5: Electricity $60 Cash $60
May 9: Cash $2,610 Sales Revenue $2,610
May 14: Kitchen equipment $3,880 Cash $3,880
May 23: Accounts Receivable $2,050 Sales Revenue $2,050
May 31: Rent Expense $800 Prepaid Rent $800
May 31: Salary expense $730 Salaries Payable $730
May 31: Depreciation Expense- kitchen equipment, $780 Accumulated Depreciation $780
Cash Accounting for net income (loss):
Cash Revenue $2,610
Kitchen equipment -3,880
Prepaid rent -2,400
Electricity -60
Net loss = $3,730
Thus, if Sweet Catering had recorded transactions using the Cash method, the net loss recorded for the month of May would have ($3,730).
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Aborkian Co. is forecasting sales of 75,000 units of product for November. To make one unit of finished product, seven pounds of raw materials are required. Actual beginning and desired ending inventories of raw materials and finished goods are:
Answers
Questions
Aborkian Co. is forecasting sales of 75,000 units of product for November. To make one unit of finished product, seven pounds of raw materials are required. Actual beginning and desired ending inventories of raw materials and finished goods are:
November 1 November 30
(Actual) (Desired)
Raw materials (pounds) 91,400 86,400
Finished goods 8,500 9,600
(a.) Calculate the number of units of product to be produced during November.
(b.) Calculate the number of pounds of raw materials to be purchased during November
Answer:
Number of units to be produced= 76,100 units
Raw materials to be purchased= 527,700 pounds
Explanation:
Units to be produced
Number of units to be produced = sales budget + closing inventory - opening inventory
= 75,000 + 9,600 - 8,500 = 76,100 units
Number of units to be produced= 76,100 units
Raw materials purchase budget
Raw materials to be purchased = Raw materials to be used + closing inventory of raw materials - opening inventory of raw materials
Raw material usage = production units × standard pounds per unit
= 76,100× 7 =532700 pounds
Raw materials to be purchased = 532,700 +86,400 - 91,400=527700
Raw materials to be purchased= 527,700 pounds
a business loan is substantively no different than other types of debt such as student loans or a home mortgage.
Answers
The following statement "a business loan is substantively no different than other types of debt such as student loans or a home mortgage" is true.
Although they have different meanings, the phrases "mortgage" and "home loan" are sometimes used synonymously. An acquisition loan known as a mortgage is one that is backed by the asset being purchased, the property. A mortgage product used particularly to buy a home is known as a home loan.
However, the bank or mortgage company does not actually own your home; rather, they just have a stake in the property and the mortgage note. The mortgage loan's security is thought to be your house. You are the property's legitimate owner as long as you repay your mortgage in line with the conditions.
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Department F had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,200. Of the $12,200, $8,200 was for material and $4,000 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $32,000. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $31,500 and factory overhead was $19,000. If the average cost method is used, the materials cost per unit (to the nearest cent) would be:_______
a. $3.26
b. $1.78
c. $2.27
d. $2.17
Answers
Answer:
$2.27
Explanation:
Unit Cost =
If the average cost method is used, the materials cost per unit (to the nearest cent) would be: $2.27
Gateway Ltd sets up a company and in the first nine days of trading the following transactions occurred
1 January
They issue $10,000 share capital for cash
2 January
They purchase goods for $4,000 and pay by cheque
3 January
They buy delivery van for $2,000 and pay by cheque
4 January
They purchase $1,000 of goods on credit
5 January
They sell goods for $1,500 cash
6 January
They sell all remaining goods for $5,000 on credit
7 January
They pay $800 to suppliers by cheque
8 January
They pay rent of $200 by cheque
Required
1. Complete the relevant ledger accounts
2. Extract a trial balance
Answers
1. The completion of the relevant ledger accounts for Gateway Ltd is as follows:
Cash AccountDate Account Titles Debit Credit
January 1: Common Stock $10,000
January 2: Inventory $4,000
January 3: Delivery Van $2,000
January 5: Sales Revenue $1,500
January 7: Accounts Payable $800
January 8: Rent Expense $200
Balance $4,500
Accounts ReceivableDate Account Titles Debit Credit
January 6 Sales Revenue $5,000
InventoryDate Account Titles Debit Credit
January 2 Cash $4,000
January 4 Accounts Payable 1,000
January 6 Cost of goods sold $5,000
Delivery VanDate Account Titles Debit Credit
January 3 Cash $2,000
Accounts PayableDate Account Titles Debit Credit
January 4 Inventory $1,000
January 7 Cash $800
Balance $200
Common StockDate Account Titles Debit Credit
January 1 Cash $10,000
Sales RevenueDate Account Titles Debit Credit
January 5 Cash $1,000
January 6 Accounts Receivable 5,000
Balance $6,000
Cost of goods soldDate Account Titles Debit Credit
January 6 Inventory $5,000
Rent ExpenseDate Account Titles Debit Credit
January 8 Cash $200
2. The extraction of a trial balance for Gateway Ltd is as follows:
Trial BalanceAs of January 9
Account Titles Debit Credit
Cash $4,500
Accounts Receivable 5,000
Delivery Van 2,000
Accounts Payable $200
Common Stock 10,000
Sales Revenue 6,500
Cost of goods sold 5,000
Rent Expense 200
Totals $16,700 $16,700
Data Analysis:January 1: Cash $10,000 Common Stock $10,000
January 2: Inventory $4,000 Cash $4,000
January 3: Delivery Van $2,000 Cash $2,000
January 4: Inventory $1,000 Accounts Payable $1,000
January 5: Cash $1,500 Sales Revenue $1,500
January 6: Accounts Receivable $5,000 Sales Revenue $5,000
January 7: Accounts Payable $800 Cash $800
January 8: Rent Expense $200 Cash $200
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purchased goods of rs 40000 journal entries
Answers
The journal entry for Rs. 40, 000 purchases would include a debit to purchases and credit to cash or accounts payable.
How to enter the journal ?The Purchases account is debited because the business has acquired goods, which is an asset. The Accounts Payable account is credited because the business owes money to the supplier for the goods.
Date Account title Debit Credit
XX -XXXX Purchases Rs. 40, 000
Accounts payable Rs. 40, 000
This journal entry will increase the balance of the Purchases account and the Accounts Payable account. The Purchases account will be used to track the cost of goods sold, and the Accounts Payable account will be used to track the amount of money owed to suppliers.
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What should you include on an income statement?
Select all correct answers.
1. income
2. expenses
3. net profit
4. all assets
Answers
All of the factors that have to be included in the income statement are:
1. income2. expenses3. net profitWhat is meant by the income statement?This is the term that is used to refer to the financial statement that would be made to show the revenue, the expenses and the profits that are made by a given company over a period of time. This is also called the earnings statement. It shows the revenue that is made from business.
Hence we can say that All of the factors that have to be included in the income statement are:
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. Discuss and Implement the Price Adjustment Strategies in current market. Apply each strategy with 3 examples along with picture.
Answers
Answer:
There are many different price adjustment strategies which can be implemented in the current market.
Explanation:
Psychological pricing:
Psychological pricing is a strategy in which the price of a product is displayed with mostly one cent difference so the whole number shown is less by $1 and this difference can get higher if the price of the product is more.
Example 1: The price for a toy in a toy shop is $4.99, if rounded this will be $5 but the whole number visible is $4.
Example 2: The price of a laptop is $193, this again is nearly $200 but the price is reduced by $7 in order to influence their customers into buying the product.
Example 3: The price of a car is $35,995, this again is about $36,000 but the buyer may be influenced by this technique and result in purchasing the product with such price.
Geographical Pricing:
Geographical pricing is a strategy where different prices are charged in different outlets, this strategy is made keeping in mind the purchasing power of the locality, if the local people can pay higher price for a product then the price is high there but same product may have a lower price in an area where people can not pay high price.
Example 1: Price of a T-shirt is $15 in a posh area while the price of the same T-shirt is $5 in an area with poor locality.
Example 2: Price of a hair brush is $10 in a poor area while the same brush is available in a posh area at a rate of $35.
Example 3: Price for a food item is $6 in a restaurant in posh area while the same burger is available for $3 in a restaurant in a poor area.
Poulter Corporation will pay a dividend of $4.60 per share next year. The company pledges to increase its dividend by 6.75 percent per year, indefinitely. If you require a return of 11 percent on your investment, how much will you pay for the company’s stock today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answers
Answer:
You will pay $108.24 for the company’s stock today.
Explanation:;
The price to pay for the company’s stock today can be calculated using the Gordon Growth Model (GGM) formula which assumes that dividend growth rate of a company will continue to be constant indefinitely. The GGM formula is as given below:
P = d/(r – g) ……………………………………… (1)
Where;
P = Price to pay for the company’s stock today = ?
d = Next year dividend per share = $4.60
r = required return = 11%, or 0.11
g = Constant dividend growth rate = 6.75%, or 0.0675
Substituting the values into equation (1), we have:
P = $4.60 / (0.11 - 0.0675)
P = $4.60 / 0.0425
P = $108.24
Therefore, you will pay $108.24 for the company’s stock today.
Jacob distributed a survey to his fellow students asking them how many hours they'd spent playing sports in the past day. He also asked them to rate their mood on a scale from 000 to 101010, with 101010 being the happiest.
Answers
Answer:
whats the question
Explanation:
Answer:
the answer is A 1.5
Explanation:
Jenny, who is married and the mother of three, is 25 years old and expects to work until 70. She earns $45,000 per year. Jenny expects inflation to be 3% over her working life, and the appropriate risk-free discount rate is 5%. Her personal consumption is equal to 25% of her after-tax earnings, and her combined federal and state marginal tax bracket is 15%. What is the amount of life insurance necessary for Jenny using the Human Life Value method
Answers
Answer:
$855,903.20
Explanation:
Real discounting rate=> i= [i'-f]/[1+f]. Where i is the real interest rate. i' is the nominal interest rate which is given as 5% and f is the rate of inflation
i = (5%-3%)/1+3%)
i = 2/1.3
i = 1.94%
Her after tax earnings = 45,000*(1-0.15) = $38,250
Personal consumption = 25% of this, 38,250*0.75 = $28,688.
We are discounting her earnings back 45 years at 1.94%. The equation will be: 28,688 * {1-(1+0.01940)^-45} / {0.01940}
= 28,688 * {1 - 0.42120322099] / 0.01940
= 28,688 * 29.83488551597938
= 855903.1956824165
= $855,903.20
So, the amount of life insurance necessary for Jenny using the Human Life Value method is $855,903.20
QUESTION 11
Whether targeting consumers or resellers, marketers need to focus on:
O Buying center synergy.
O Corporate profit sharing
O Reducing derived demand
O Creating value for their customers
Answers
Marketers need to focus on creating value for their customers. The Option D.
Why is creating value for customers crucial for marketers?Creating value for customers is crucial for marketers as it directly impacts customer satisfaction and loyalty. When marketers prioritize creating value, they focus on understanding customer needs and preferences, developing products or services that meet those needs and delivering exceptional customer experiences.
By doing so, they differentiate themselves from competitors, build strong customer relationships and drive business growth. When customers perceive value in what a company offers, they are more likely to make repeat purchases.
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Explain why societies cannot make a choice above their production possibilities frontier and
should not make a choice below it. What affects a production possibilities curve?
Answers
Societies cannot make a choice above their production possibilities frontier because it is impossible to produce more than what is possible.
What affects a production possibilities curve?Societies cannot make a choice above their production possibilities frontier because this would require the society to produce more than their current productive capacity allows. This would be impossible because the resources available, such as land, labor, capital, and technology, are limited.Societies should not make a choice below their production possibilities frontier because this would mean producing less than their current productive capacity allows. This would result in an inefficient use of resources and would lead to a lower standard of living.The production possibilities curve is affected by a number of factors, such as population growth, economic growth, technological advancement, availability of capital and labor, and government policies. These factors can cause the curve to shift outward or inward, depending on the changes in the factors.To learn more about production possibilities curve refer :
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On June 5, Rex Company purchased $2,400 of merchandise on account, terms 2/10 n/60. On June 12, Rex paid for the merchandise. The entry to record the payment under a perpetual inventory system would include a credit to:
A.cash of $2,352
B.inventory of $2,352
C.accounts payable of $2,400
D.cash for $2,400
Answers
Under a perpetual inventory system, the entry to record the payment would include a debit to Accounts Payable for $2,400 and a credit to Cash for $2,352.
What is inventory?Inventory is the total amount of goods and materials held in stock by a business. It is a record of the items a company has on hand, including raw materials, work in progress, finished goods, and supplies. Inventory is typically tracked to help a business manage their supply chain, measure customer demand, predict future demand, and optimize pricing. It is also used to measure the efficiency of production and distribution, as well as to help determine the total value of assets.
This is because the payment was made under the terms 2/10 n/60, which means that the buyer received a 2% discount if the payment was made within 10 days. Therefore the amount of Cash paid would be $2,400 less the 2% discount, or $2,352.
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one management responsibility is to identify when to create ______, not simply when to mitigate it.
Answers
One management responsibility is to identify when to create conflict, not simply when to mitigate it.
What kind of conflict resolution?The goal of conflict management is to lessen its negative effects while enhancing its positive ones. The goal of conflict management is to improve learning and group outcomes, including the issue of effectiveness or that of performance in terms of an organizational setting.
Therefore, A conflict is a struggle that results from a collision of interests, viewpoints, or even moral principles. There will always be conflict in society, and its causes can range from personal to racial to class-based to caste-based to political to international.
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Darell Hair Stylists's adjusted trial balance and statement of owner's equity follow.
Balance
Account Balance Debit Credit
Cash $1,000
Accounts Receivable 900
Office Supplies 600
Equipment 19,700
Accumulated Depreciation - Equipment $2,000
Accounts Payable 900
Interest Payable 550
Notes Payable 3,400
Common Stock 10,650
Dividends 700
Service Revenue 14,100
Rent Expense 5,200
Supplies Expense 100
Depreciation Expense - Equipment 2,000
Interest Expense 1,400
Total $31,600 $31,600
Daniel Hair Stylists Statement of Retained Earnings Year Ended December 31, 2018
Retained Earnings, January 1, 2018 $0
Net Income for the year 5,400
5,400
Dividends (700)
Retained Earnings, December 31, 2018 $4,700
Required:
Prepare Darell's unclassifed balance sheet at December 31, 2018.
Answers
Answer:
Total Assets = Total Liabilities and Stockholder's Equity = $20,200
Explanation:
An unclassified balance sheet is a type of balance sheet that does not present assets and liabilities under different categories. It only presents all assets in order of liquidity and liabilities in order of the shortness of their terms.
This can be prepared for this question as follows:
Darell Hair Stylists
Unclassifed Balance Sheet
At December 31, 2018
Particulars Amount ($)
Cash 1,000
Accounts Receivable 900
Office Supplies 600
Equipment 19,700
Accumulated Dep. - Equipment (2,000)
Total Assets 20,200
Accounts Payable 900
Interest Payable 550
Notes Payable 3,400
Common Stock 10,650
Retained Earnings, Dec. 31, 2018 4,700
Total Liabilities and Stockholder's Equity 20,200
Since Total Assets and Total Liabilities and Stockholder's Equity as it is normally required, that indicates that the unclasified balance sheet has been prepared accurately.
Technician A says that hazardous waste disposed of into the soil, can cause air pollution. Technician B says that disposal information is found in the product identification section of an SDS. Who is right?
Answers
Answer: B
Explanation:
Technician B is correct in his statement that the disposal information is found in the product identification section of an SDS.
What is disposal information?The information, which is mentioned under the product identification, and helps in identification of the category and ways of disposing the products, is known as disposal information.
Hence, the technician B is correct regarding the disposal information.
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20 POINTS!
I need help with putting my two weeks in….
Need to sound professional!
I am currently an intern at a construction office job. I want to say that I have decided to go to esthetician school but appreciate being able to work here as a intern and learn a lot of things these last 6 months.
Thank you!!
Answers
Helen expects to receive $2000 in six months. Her bank offers a loan at an annual rate of 5.60%. How much could se borrow now if she wants to pa off the entire loan (incuding interest) with the $2000 she will receive in six months?
Answers
Answer: 5000
Explanation: ITS MATH
Helen expects to receive $2000 in six months. Her bank offers a loan at an annual rate of 5.60%. She could se borrow $5000 now if she wants to pay off the entire loan (including interest) with the $2000 she will receive in six months
What is a Bank?A bank is an institution that deals in money and its substitutes and provides other money-related services. In its role as a financial intermediary, a bank accepts deposits and makes loans.
It derives a profit from the difference between the costs (including interest payments) of attracting and servicing deposits and the income it receives through interest charged to borrowers or earned through securities.
Many banks provide related services such as financial management and products such as mutual funds and credit cards. Some bank liabilities also serve as money—that is, as generally accepted means of payment and exchange.
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following is information concerning a product manufactured by Ames Brothers. Sales price per unit $ 950 Variable cost per unit 570 Total fixed manufacturing and operating costs (per month) 5,700,000 a. Determine the unit contribution margin. b. Determine the number of units that must be sold each month to break even. c. Determine the number of units that must be sold to earn an operating income of $7,600,000 per month
Answers
Answer:
Instructions are below.
Explanation:
Giving the following information:
Sales price per unit $950
Variable cost per unit $570
Total fixed manufacturing and operating costs= $5,700,000
First, we need to calculate the contribution margin:
Contribution margin= selling price - unitary variable cost
Contribution margin= $380
To calculate the break-even point in units, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 5,700,000/380
Break-even point in units= 15,000 units
Finally, the desired profit is $7,600,000
Break-even point in units= (fixed costs + desired profit) / contribution margin per unit
Break-even point in units= (5,700,000 + 7,600,000) / 380
Break-even point in units= 35,000 units
Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar. Merchandise (Invoice Amount) Freight Paid by Seller Freight Terms Returns and Allowances (Invoice Amount) a. $8,450 $200 FOB destination, 2/10, n/30 $1,200 b. 4,400 500 FOB shipping point, 1/10, n/30 700
Answers
a. $8,450 invoice with $1,200 returns and allowances, and $200 freight paid by the seller, with terms FOB destination, 2/10, n/30
Net amount due = $8,450 - $1,200 = $7,250
Discount = 2% x $7,250 = $145
Net amount due after discount = $7,250 - $145 = $7,105
Freight charge = $200 (already paid by seller)
Amount to be paid = $7,105 + $200 = $7,305
Therefore, the amount to be paid for invoice (a) is $7,305.
b. $4,400 invoice with $700 returns and allowances, and $500 freight paid by the seller, with terms FOB shipping point, 1/10, n/30
Net amount due = $4,400 - $700 = $3,700
Discount = 1% x $3,700 = $37
Net amount due after discount = $3,700 - $37 = $3,663
Freight charge = $500 (already paid by seller)
Amount to be paid = $3,663 + $500 = $4,163
Therefore, the amount to be paid for invoice (b) is $4,163.