Business, 21.04.2020 20:08 blondesaturn
Cinnamon Buns Co. (CBC) started 2021 with $61,500 of merchandise on hand. During 2021, $299,000 in merchandise was purchased on account with credit terms of 2/10, n/30. All discounts were taken. Purchases were all made f. o.b. shipping point. CBC paid freight charges of $18,500. Merchandise with an invoice amount of $7,800 was returned for credit. Cost of goods sold for the year was $335,000. CBC uses a perpetual inventory system.
Assuming CBC uses the gross method to record purchases, ending inventory would be:
Answers: 3
Business, 22.06.2019 19:00
Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.
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Business, 22.06.2019 21:00
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Business, 22.06.2019 21:30
Which of the following best explains why online retail companies have an advantage over regular stores? a. their employees make less money because they mostly perform unskilled tasks. b. they are able to keep distribution costs low by negotiating deals with shipping companies. c. their transactions require expensive state-of-the-art technological devices. d. they have a larger number of potential customers because people anywhere can buy from them.
Answers: 1
Business, 22.06.2019 23:40
Robert is a district manager who oversees several store managers in a national chain of restaurants. robert reports directly to the vice president of stores and marketing, a member of top management. robert is a middle manager.t/f
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Cinnamon Buns Co. (CBC) started 2021 with $61,500 of merchandise on hand. During 2021, $299,000 in m...
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