1. Describe the fundamental similarities and differences between procurement, manufacturing support and customer-accommodation performance cycles as they relate to logistical control.

Answers

Answer 1

1. Procurement - Buying raw materials at the best price to maximize cost-benefit.

2. Production Support - Requirement analysis, raw material delivery, etc. enhance the manufacturing process. Manufacturing assistance.

3. Market distribution performance cycle - Manages product distribution in the market.

What are the similarities and differences between procurement, manufacturing support, and customer-accommodation performance cycles?

Generally, The supply chain process is connected to all aspects of business operations, including procurement, production support, and the performance cycle of market distribution. These are related to one another in a few key respects. They are distinct from one another in the following ways:

1. Procurement is the process of acquiring raw materials at the lowest possible cost while maintaining the highest possible level of operational efficiency.

2. Manufacturing Support - The manufacturing process is helped along by several linked operations such as need analysis, the delivery of raw materials, and so on. The term for this kind of assistance is manufacturing support.

3. The Market Distribution Performance Cycle: It is the Management of the Complete Process of Product Distribution in the Market This cycle is the management of the entire process of product distribution in the market.

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Related Questions

a high value for the times interest earned ratio means that a company is a lower risk borrower.
a. true
b. false

Answers

A corporation is a lesser risk borrower if the times interest earned ratio is high is False

Explain about the High risk borrower?

when the applicant has a high likelihood of defaulting due to a low credit score, poor credit history, or both. A high-risk borrower is likely to have few, if any, other loan options, according to the lender.

Your payment processor has determined that your business has a higher risk of chargebacks or fraud and has assigned you a high-risk merchant account. High-risk merchant accounts incur higher processing fees to cover the risk the payment processor assumes.

You have a lower chance of being authorized the more risk you present to a lender. High-risk loan categories could include: Securing loans: These loans call for the holding of an asset as collateral, like your house or vehicle.

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Which of these is not part of the marketing concept?

Multiple Choice
Providing customer satisfaction
Matching competitors' offering
It relies on the integrated effort of numerous departments, not just marketing
That corporate goals can be achieved through customer satisfaction

Answers

From the following, the one which is not a part of the marketing concept is that, it relies on the integrated effort of numerous departments, not just marketing.

Marketing is considered to be the process of getting the right goods or services or ideas to the right people at the right place, time, and also the right price. This can be done  using the right promotion techniques and utilizing the appropriate people to provide such customer service.

It is seen that the most successful organizations are said to have adopted the marketing concept. Thus, this marketing concept is based on the right principle. The marketing concept is oriented toward customers satisfaction by offering value, and does not rely on integrated effort of numerous departments.

Hence, option C is correct.

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You are 18 years old single, and still live at home.
What type of life insurance policy should you purchase?

Answers

Answer: none of the above

Explanation: i took the test

Responses

term life insurance

variable life insurance

universal life insurance

none of the above

none of the above

Answer:

i one person plan

Explanation:

Which major promotion category uses catalogs, telephone marketing, kiosks, and the Internet?

A) sales promotion
B) direct marketing
C) horizontal diversification
D) public relations

Answers

Direct marketing helps businesses cut

costs. Media for direct marketing include

face-to-face sales, direct mail, catalogue

marketing, telemarketing, TV, and kiosks.

Delivering individualized and frequently

interactive promotional materials to specific consumers through channels like mail, catalogues, the Internet, e-mail, telephone, and direct-response advertising is known as direct marketing.

Direct marketing is a style of advertising that involves communicating with your target market directly to offer information about your business, product, or service.Some examples of direct marketing techniques include telephone marketing,emails, online ads, flyers,database marketing, promotional letters,newspapers,and outdoor advertising.

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Pro-forma FY+1 EPS for Amazon Inc. is expected to be: Review Later $45.71 $36.77 $50.00 $130.33

Answers

Option B. The Pro-forma FY+1 EPS for Amazon Inc. is expected to be 36.77 based on the calculation.

How to solve for the Pro-forma FY+1 EPS

The normalized net earnings = $23688

normalized net earnings of snap = -581

proforma adjustment = - 3134

Total proforma earning = 19973

Next we have to solve for the cost of acquisition

shares of snap * price of snap * (1 + premium)

= 1734 * 44.29 (1 + 20%)

cost of acquisition = $92158.63

Next is the cost financed by equity

= $92158.63 * 80 percent

= 73726.91 dollars

Next is to solve for the new price of the equity issue

= 3099.4 * (1 - 50%)

= 2944.43 dollars

Next is the number of new shares 73726.91 dollars / 2944.43

= 25.04

Total share after acquisition

shares outstanding + new shares

= 518 + 25.04

= 543.04

The EPS would be the next to solve for

this is gotten by the formula

total proforma / number of shares

= 19973 /  543.04

= 36.78

Hence the Pro-forma FY+1 EPS is going to be: $36.77

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complete question: check attachment

Janeen looks at David, Shannon, and Consuela with a rueful smile.
"You know, this whole process hasn't been easy for me," she admits. "This business is my
baby, and it's been difficult to give up control. I started out by trying to do everything
myself, and when I saw that wasn't going to work out, I took my first baby steps."
David laughs. "Yeah, delegation hasn't been Janeen's strong suit, but we've come a long
way."
Consider the statements below and drag them to the appropriate level of delegation, from
the lowest level of delegation at the top, to the highest at the bottom. When you are done,
click Submit?

Answers

Here's what I need you to do. (The work which is assigned and clear instructions are also given about what is to be done. There is no freedom to act independently.)

- Look into this and give me your input. Then, I'll let you know what I decide. (Some inputs are taken but the final decision is taken by the superior.)

- Look into this and let me know what you think, and we'll figure it out together. (Decision making is shared here.)

- Look into this and let me know what you decide, but make sure that I give you the go-ahead before you proceed. (Decision can  also be taken by the subordinate but the final approval  will be still comes from the superior.)

- Look into this and handle it as you see fit. No need to check back with me. (Complete freedom is given to decide on the course of action with waiting for approval from the superior is also there.)

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Eugene Torres works in a shared role for Multiglass Computers. He works in both the programming and the research departments for the company and splits his time equally in both roles. Eugene is paid $12 per hour in the programming department and $16 per hour in the research department. When he works overtime in the research department, what is his pay rate? Multiple Choice $18.00 per hour $36.00 per hour $32.00 per hour $24.00 per hour

Answers

In the research section, hourly pay is $24. Thus, if he puts in more time at the research department.

How to calculate overtime pay =

Hourly rate of pay x 1.5

= $16 X 1.5 equals

= $24 per hour.

The amount of additional time owed to each employee during a pay period is what is known as overtime compensation.

The research division compiles and analyses consumer and target market data. The work of the creative department and account management is supported by this data. The selection and placement of advertisements in print and broadcast media is a specialty of media planners.

It is frequently both efficient and successful for a firm to seek the services of independent marketing facilitators because marketing functions need a great deal of experience. These are businesses and consultants whose sole or main duty is to handle marketing-related tasks.

All or a portion of these tasks are internal in many larger businesses. However, most businesses only need occasional or part-time assistance from marketing facilitators, thus this is neither required nor justifiable.

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In 100 words or fewer explain:

As a financial advisor, how will you get new clients?

As a client, how would you choose a financial advisor?

Answers

A financial advisor can get new client through the qualities and skills they posses and a client can choose a financial advisor  when the client is satisfied that the financial advisor is someone that  is qualified to give  financial advises.

Who is a financial advisor?

A financial advisor is person whose job is to advice someone on how to effectively manage their resources as well as finances so as to prevent running into debt or financial mismanagement.

A financial advisor can tend to get a  new client by  advertising themselves or showcasing the type of skills they possess as well as how they can effective advice and help people to manage their finances.

A  client can tend to choose a reliable financial advisor by checking whether the advisor is  a professional or  a person that is qualified to be a financial advisor as well as a verifying if the advisor is a person that can help to advice people on how to effectively manage their finances.

Therefore the a financial advisor help to advices people on how to manage their finances as well as investment.

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You need to revise your budget to meet your short-term
goal of buying a new computer. You will need to budget
$50 a month.
How will you revise your budget to meet this goal?

Answers

I could increase my discretionary spending to $365, which would allow me to spend $50 per month on my computer.

 I could also reduce other expenses to compensate for the change. For example, I could replace my entertainment budget with a computer budget.

Make sure to include the following :

creating a new budget item of $50 for a computer

reducing one or more areas by $50 to account for the new budget item

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Answer:

Sample Response -

I could increase my discretionary spending to $365, which would allow me to spend $50 per month on my computer.

I could also reduce other expenses to compensate for the change. For example, I could replace my entertainment budget with a computer budget.

Explanation:

Edge 2023

Isaiah, who is single, received $52,000 of qualified business income from a partnership. Isaiah's taxable income prior to the calculation of the QBI deduction is $50,000. This amount includes: $5,000 in long-term capital gains. $450 in qualified dividends. How much is Isaiah's QBI deduction?

Answers

Isiah's QBI deduction, based on the qualified business income, the taxable income and the long - term capital gains, is $8, 910.

How to find the QBI deduction?

The qualified business income deduction is 20% of the amount that a person has from their income before the QBI deduction is calculated, over their long term capital gains and qualified divided.

In other words, the qualified business income deduction for Isaiah can be found by the formula:

= (Income before QBI deduction - long term capital gain - qualified dividend) x 20%

= (50, 000 - 5, 000 - 450)  x 20%
= $8, 910

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EXERCISE: Conduct online research about entrepreneurs. What did you discover about these individuals?
Some links to get you started:

Answers

Entrepreneurs are those persons who start their own businesses with their own money or capital by taking all financial risks.

Who is an entrepreneur?entrepreneurs are those persons who initiate their own businesses from scratch.A person who organizes and operates one or more companies, thereby taking an above-average financial risk.The one who starts a new business takes most of the risks and enjoys the most rewards. The process of starting a business is known as entrepreneurship. Those are generally seen as innovators, sources of new ideas, products, services, and businesses/processes.

qualities of entrepreneurs are as follows:

innovativepassionatedecision-makerrisk takerdisciplinedsharp memorydynamic vision foresightflexibilitysmartcommunication skills sharp mind

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Using the definition of the unemployment rate, is a decrease in unemployment necessarily a good thing for a nation?

Answers

A decrease in unemployment is always a good thing in a country with healthy population increase. A decrease in unemployment is not a good sign, when the country is facing steep population decline.

The definition of unemployment rate is a measure of unemployed labor force actively looking for employment versus the total labor force in that country or nation.

As more people are actively employed, it means the economy is strong and showing signs of growth. The lower the number of unemployment rate, the stronger the economic indicator, including steady inflation, good interest rates and so on.

Depending on how big the decrease in unemployment versus the total amount of the workforce, generally a decrease in unemployment is regarded positively.

It is said that a good or healthy level of unemployment in any given country should be between 4 to 6%, as any lower would mean less productivity and higher cost.

Economists have theorized that extremely low unemployment rates will put pressure on prices of goods, due to increased demands caused by the increases in disposable income of its citizens, and in the end results in higher rate of inflation.

Others have surmised that low unemployment level is making employee recruitment and retention difficult since there's not a lot of people left in the job market, and companies have to be proactive in their recruitment and retention to attract people to work for them.

Extremely low levels of unemployment is also theorized as a sign of looming recession.

In the US alone, prior to the pandemic there are around 6 to 7% unemployment; however during the pandemic, it reached highs of more than 12%, and today eases at around 4%.

Therefore by the definition of unemployment rate, the cycle follows through that higher level of unemployment meant the economy is unhealthy, as spending power and disposable income diminished.

At lower unemployment levels, the economy shows strong signs of recovery as inflation and interest rates were manageable. At the lowest rates of unemployment this year, recession looms and inflation are higher than normal, creating fears of recession.

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Which of the following is an example of time series data

Answers

The following is an example of time series data b.amount of labor employed yearly in a specific factory from 1990 through 2010.


The required details about time series data is mentioned in below paragraph.


A time series data is a group of observations of well-described statistics objects acquired via repeated measurements over time. For example, measuring the fee of retail income every month of the year might contain a time collection. time series data is statistics this is recorded over regular periods of time. Cross-sectional statistics includes numerous variables recorded on the identical time. Pooled statistics is a mixture of each time collection statistics and cross-sectional statistics.A time series data is a collection of observations on a unmarried entity over time — e.g. the every day ultimate fees over 12 months for a unmarried monetary security, or a unmarried affected person's coronary heart charge measured each minute over a one-hour procedure.

(COMPLETE QUESTION)

Which of the following is an example of a time-series data set?

a.            amount of labor employed in each factory in the U.S. in 2010.

b.            amount of labor employed yearly in a specific factory from 1990    through 2010.

c.             average amount of labor employed at specific times of the day at a specific factory in 2010.

d.            All of the above are time-series data

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a popular haberdashery could take a customer's measurements in the afternoon and produce a dandy suit ready for customer pickup by next morning. their competitive priority was:

Answers

A popular haberdashery could take a customer's measurements in the afternoon and produce a dandy suit ready for customer pickup by next morning. their competitive priority was: delivery speed.

A customer is the recipient of a terrific, provider, product or an idea - received from a supplier, supplier, or dealer through a financial transaction or change for cash or a few different treasured attention

A customer is normally defined as someone who buys an amazing, product, or carrier. extra specifically, clients are people or businesses currently purchasing, have purchased, or can be interested by purchasing a product or service from another person or corporation.

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A plan presenting financial forecasts for the business​

Answers

A plan presenting financial forecasts for the business profit and loss statement, cash flow statement, balance sheet, cash flow forecast, and budget for expenses should all be included in the financial component of your business plan.

A financial forecast outlines the measures that must be taken in order to earn future income and pay for future expenses, whereas a financial forecast is an estimation or projection of expected future income or revenue and expenses. A financial plan can also be thought of as what a person or business intends to do with income or revenue acquired.

A financial plan is a road map created now that can be followed over time, whereas a financial forecast is a projection or estimate of future outcomes predicted today. Both processes aim financial activity toward the future.

For a corporation to succeed, financial forecasting is essential. A business must have a realistic estimate of the amount of revenue it expects to generate over a specific period of time in order to manage working capital and cash flow successfully.

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Do we really have a free market system???? Supply and Demand!!!! Should we be able to get whatever we want!!!!!

(One paragraph answer)

Answers

The US has a free market system, that is, there is less state control over the economy.

What is the free market system?

It corresponds to an economic system that underlies capitalism, that is, economic exchanges are carried out between individuals and companies with the objective of obtaining profitability, through the private sector.

The free market system has as benefits the greater autonomy of citizens to carry out voluntary exchanges that directly influence the economic flow of the country.

In this system, economic agents are free, that is, the economic laws of supply and demand occur naturally, that is, they are directly influenced by the quantity of goods and services produced and the purchasing power of the population.

Therefore, the free market is an independent, decentralized system whose demand and supply are influenced by economic production and money transfer, without government control.

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Acuity Insurance's motivational programs primarily support which area of the Rocket Model?

Answers

Insurance can fulfil your desire for fulfilling employment and motivational participation by pursuing a career in insurance. Defense of fellow citizens was the inspiration behind the creation of the insurance industry.

For Insurance, insurance can pay for the costs of repairing a home after a fire, providing assistance for grieving family members, or helping motivational employees who have been wounded at work. Most agents quit because they can't generate enough revenue to sustain themselves and their families. The only way to fix that is to learn how to create more, better leads and follow up on them. People go on online fact-finding missions. I work hard because I want to succeed.

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kara is a lender who is working with prospective buyer, stan. what does kara ask sam to provide to show his work history and earning information?

Answers

Kara asks sam to provide Paystub to show his work history and earning information.

It permits the lender to verify the employment indexed at the applicant's mortgage application. Numerous parties have a function in finishing parts of the verification of employment form.

A mortgage Estimate is a three-web page form that you receive after making use of a mortgage. The Loan Estimate tells you vital details about the mortgage you have requested. The lender must offer you a mortgage Estimate within 3 enterprise days of receiving your utility.

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Over the past year, Ionia’s money supply increased by $5 billion, $6 billion in bonds were sold to the public, an unused military base was sold for $1 billion, and the government spent $20 billion.
1. determine the amount of Ionia’s budget deficit or surplus
2. determine the amount of Ionia’s tax revenue for the year

Answers

According to the available data, Ionia experienced a budget deficit The $9 billion budget surplus or deficit for Ionia. Ionia received $11 billion in tax income last year.

What was Lonia 's Budget ?  

1. According to the information provided, Ionia had a budget deficit since spending exceeded income.

2. The surplus or deficit in Ionia's budget

Budget surplus or deficit = $1 billion +$3 billion + $5 billion

$9 billion, whether in deficit or excess.

3. Tax collection

$20 billion in tax revenue - ($1 billion, $3 billion, and $5 billion)

Tax revenue = $20 billion- $9 billion,

$11 billion in tax revenue

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why Nike is a competitor to Decathlon? and i need a website for this ìnormation

Answers

Based on the available information, Nike is a competitor to Decathlon because both brands are manufacturers of sports wears.

Similarities between Nike and Decathlon

From the business activities of Nike and Decathlon, it has been revealed that both brands major in the production of Sportswear.

The sportswear produced by Nike and Decathlon includes but is not limited to the following:

BootsSnowboardsFootballBasketballWinter JacketsHelmets, etc.

These two brands are considered competitors because they both have the same consumers to patronize their products.

Also, since both brands are in the same line of business, they are considered to be in the same industry.

Hence, in this case, it is concluded that the correct answer is that both brands are manufacturers of sports wears.

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A responsibility center is best described as?

a. any part of an organization that has responsibility for optimizing customer service and satisfaction
b. any financial sub-unit within an organization that has the responsibility to account for the performance of other organizational sub units.
c. any part of an organization whose manager has control over and is accountable for cost profit or investments
d. any part of an organization that has responsibility for managing product and service quality

Answers

Answer: C. Any part an organization whose manager has control over and is accountable for cost profit or investments.

Explanation: A responsibility center is an operational unit or entity within an organization, that is responsible for all the activities and tasks structured for that unit. These centers have their own goal, staffs, objectives, policies and procedures, and financial reports. And are used to balance responsibilities related to expenses incurred, revenue generated, and funds invested to an individual.

In a multinational or large corporation, the organization tasks are divided into a subtask, and each task is given to various small division or groups. In this context, all groups in that organization are responsibility centers.

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27. In logistics, how long it takes to assemble a car is known as a. lead time b. cycle time c. order time d. delivery time ​

Answers

In logistics, how long it takes to assemble a car is known as a lead time.

A lead time in logistics tend to refer to the time which it takes from when a purchase order is created for a supplierwhich is until the goods are delivered from that supplier to the customer, so, this can be an individual or  maybe a store.

Here, coping with this concept is pivotal in order to organize all the different processes throughout your supply chain. Thus, the material lead time is an amount of time between which a company tend to become aware of a need for raw materials and when the materials are said to be physically obtained.

Hence, option A is correct.

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As James markets his bike tires to sporting goods manufacturers, what trade credit terms would be the most favorable to him, not the manufacturers?

Multiple Choice

Net 60


Net 30


Net 15


2/10, Net 60


2/10, Net 30

Answers

The trade credit terms that would be the most favorable to James and not the manufactures is Net 30.

What are the most favorable credit terms?

The most favorable credit terms to a supplier are those that would see the purchaser pay what they owe, as soon as possible. The most favorable to the purchaser are those where they can take a while to pay, and still get a good discount.

In this case, James is a supplier to the sporting goods manufacturers and so the most favorable credit terms to him would be those with the shortest number of days which is Net 30.

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You have observed that the average size of a particular goldfish is 1.5 inches long. The standard deviation of the size of the goldfish is 0.25 inches. What is the size of a goldfish such that 95 percent of the goldfish are smaller? Assume a normal distribution for the size of goldfish.

Answers

You have observed that the average size of a particular goldfish is 1.5 inches long. The size of a goldfish such that 95 percent of the goldfish are smaller is 1.25 inches

What is the size of a goldfish?

Now let us say that the length of a certain goldfish is denoted by the letter X.

It is said that the mean size is 1.5 inches, and the standard variation of the size is 0.25 inches. Also stated is that the mean size is 1.5 inches.

Take it for granted that X follows a normal distribution.

Calculate the size of a goldfish in such a way that only 16% of goldfish are less than the calculated size by using the following formula:

P (X < x) = 0.16

⇒ P (Z < z) = 0.16

The z-value that corresponds to such a probability is as follows:

[tex]\begin{aligned}&z=\frac{x-\mu}{\sigma} \\&-0.99=\frac{x-1.5}{0.25} \\&x=1.5-(0.99 \times 0.25) \\&x=1.2525 \\&x \approx 1.25\end{aligned}[/tex]

Therefore, 16 percent of the goldfish measure less than 1.25 inches in length.

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If a firm decides to eliminate a product line that produces a yearly net loss of $21000 its yearly net income

Answers

If a firm decides to eliminate a product line that produces a yearly net loss of $21000 its yearly net income A. will increase by $21,000 only if it can eliminate all of the fixed costs associated with that product line.

What happens when a company eliminates a loss-making product line?

When a company eliminates a product line that has been making losses, they stand a chance to increase their net income by the amount of net losses that the product line was making.

However, they can only make this increase net income if and only if they can eliminate the fixed costs that the product line incurred because these costs would have been incurred already and would reduce net income unless eliminated.

Options for this question are:

A. will increase by $21,000 only if it can eliminate all of the fixed costs associated with that product line.B. will increase by $21,000 only if it can eliminate all of the variable costs associated with that product line.C. will automatically increase by $21,000.D. will decrease unless the firm can eliminate all of the fixed costs associated with that product line.

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TC= Q2 + 120 Q + 400. The level of output where average cost is minimized for Hilltop Corp. is

Answers

The level of output where average cost is minimized for Hilltop Corp. is 20

How to solve for the output level

Average cost is  the production cost calculated as the product of the total cost (TC) and the total output (Q), or, mathematically, AC = TC/Q.

We have the total cost function as

TC= Q² + 120 Q + 400.

Average cost AC = TC / Q

= [tex]\frac{Q^2 + 120 Q + 400}{Q}[/tex]

dAC/dQ = 1 + 0 - 400 / Q² = 0

we would have 400 = Q²

Take the square root of the two sides

√400 = Q

20 = Q

Hence the level of output for Hilltop corp is given as 20

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Can you use a home equity loan for whatever you want?

Answers

One of the major benefits of a HELOC is its flexibility. Like a home equity loan, a HELOC can be used for anything you want.

A HELOC is a line of credit taken up using the equity in your home as collateral.

How is home equity calculated for a HELOC?You must have at least 20% equity in your house to be eligible for a Home Equity Line of Credit (HELOC). Subtract the amount owing on the home's mortgage loans from the home's current appraised value to determine the equity in the property.A crucial component of that is an appraisal. A lender will probably demand an appraisal to determine the value of your home because HELOCs and home equity loans are secured by your home. An appraisal ensures that you don't borrow more than your home is worth, protecting both the lender and the borrower.Start by multiplying the current market value of your home by 80% to get an idea of how much equity you have. Subtract your mortgage balance next. The balance is how much you can borrow from a HELOC, as long.

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Which of the following expenses is NOT deductible when a taxpayer uses the simplified method of calculating the home-office deduction?

Answers

The simplified method of computing home office expenses limits the number of home office expenses allowed to a fixed amount regardless of the amount of business income or the size of the home office.

How do you calculate home office deductions?

A business owner can calculate the home office deduction in two ways: regular and simplified. The regular method would require you to use Form 8829 to calculate your deduction, which would include figures for the area of your home and the total hours it was used for business purposes, your business income, and other business expenses.

If you itemize deductions and use the simplified method for a taxable year, you can deduct home expenses that would otherwise be deductible as itemized deductions on Form 1040 or 1040-SR, Schedule A, without reducing these expenses by the amounts allocable to the simplified method.

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Answer: Depreciation

Explanation: If a taxpayer elects to use the simplified method of determining the home-office deduction, neither depreciation nor any actual expenses other than those not related to the use of the home, may be deducted. (Business expenses not related to the taxpayer’s use of the home continue to be deductible.)

The following merchandise transactions occurred during December for two different companies: Rippen
and Burnen. Both companies use a perpetual inventory system.
On December 3, Rippen Corporation sold merchandise on account to Burnen Corp. for $480,000, terms
2/10, n/30. This merchandise originally cost Rippen $320,000.
On December 8, Burnen Corp. returned merchandise to Rippen Corporation for a credit of $30,000.
Rippen returned this merchandise to inventory at its original cost of $20,000.
December 12, Burnen Corp. paid Rippen Corporation for the amount owed.
Required:
a. Prepare the journal entries to record these transactions on the books of Rippen Corpo

Answers

The accounting entries for Rippen Corporation is recorded as follows:

December 3,

DR Accounts Receivable (Burnen Corp.) $480,000

CR Sales $480,000

DR Cost of Goods Sold $320,000
CR Inventory $320,000

December 8,

DR Sales Return $30,000

CR Accounts Receivable $30,000

DR Inventory $20,000

CR Cost of Goods Sold $20,000

December 12,

DR Cash $441,000

DR Credit Discount $9,000

CR Accounts Receivable $450,000

What is Journal Entry?

A journal entry is recorded for the transactions of a company in the relevant period, the entry that is recorded is also known as the double entry. These journal entries are then used to prepare T-Accounts, an then trial balance is made and ultimately income statement and balance sheet are made.

The transaction includes a discount of 2% as credit discount for the payment being made within 10 days.

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Can someone help me with this question please and Thank you

Answers

Total Assets ($118,100) = Total Liabilities and Stock holders Equity ($118,100)                

                       BALANCE SHEET

 

CURRENT ASSETS:  

CASH                                          45,700

ACCOUNTS RECBLE                72,400

TOTAL CURRENT ASSETS                                      118,100

 

NON-CURRENT ASSETS:  

TRUCK  

ROTO TILLER  

DISPLAY EQUIPMENT  

CASH REGISTER  

TOTAL NON-CURRENT ASSETS                                             0

A) TOTAL ASSETS                                           118,100

 

CURRENT LIABILITIES:  

 ACCOUNTS PAYABLE         94,600    

 ACCURED EXPENSES  

TOTAL CURRENT LIABILITIES                                    94,600

 

NON-CURRENT LIABILITIES:  

BANK LOAN  

TRUCK LOAN  

TOTAL NON-CURRENT LIABILITIES                                         0

STOCK HOLDERS EQUITY:  

COMMON STOCK/ OWNER'S CAPITAL   23,500

RETAINED EARNINGS  

TOTAL STOCK HOLDERS EQUITY                             23,500

B) TOTAL  LIABILITIES &  STOCKHOLDERS EQUITY     118,100

A = B,

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