Business, 24.03.2020 01:24, jacxirylopez
Expert Computers was started in 2018. The company experienced the following accounting events during its first year of operation: Started business when it acquired $80,000 cash from the issue of common stock. Purchased merchandise with a list price of $64,000 on account, terms 2/10, n/30. Paid off one-half of the accounts payable balance within the discount period. Sold merchandise on account for $52,000. Credit terms were 1/20, n/30. The merchandise had cost Expert Computers $31,000. Collected cash from the account receivable within the discount period. Paid $9,600 cash for operating expenses. Paid the balance due on accounts payable. The payment was not made within the discount period. Required:a. Record the events in a horizontal statements model like the following one. b. What is the amount of gross margin for the period? What is the net income for the period?c. Why would Digital Sales sell merchandise with the terms 1/20, n/30?d. What do the terms 2/10, n/30 in Event 2 mean to DigitalSales?
Answers: 2
Business, 22.06.2019 05:10, lorrainetakai1738
Suppose that the free states of eldricia, a small nation, has consumption, investment, government purchases, imports, and exports as follows. consumption $140 investment $50 government purchases $45 imports $30 exports $15 calculate the free states of eldricia's gdp
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Business, 22.06.2019 10:50, slavenkaitlynn
Kimberly has been jonah in preparing his personal income tax forms for a couple of years. jonah's boss recommended kimberly because she had done a good job setting up the company's new accounting system. jonah is very satisfied with kimberly's work and feels that the fees she charges are quite reasonable. kimberly would be classified as a(n) (a) independent auditor (b) private accountant (c) public accountant (d) accounting broker
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Business, 22.06.2019 21:30, mydoggy152
Which of the following best explains the purpose of protectionist trade policies such as tariffs and subsidies? a. they make sure that governments have enough money to pay for fiscal policies. b. they give foreign competitors access to new markets around the world. c. they allow producers to sell their products more cheaply than foreign competitors. d. they enable producers to purchase productive resources from everywhere in the world.
Answers: 1
Expert Computers was started in 2018. The company experienced the following accounting events during...
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