Set of uniform rules established by the united nations governs the formation of international sales contracts of the buyer and the seller Convention on the International Sale of Goods.
The United Nations Convention on Contracts for the International Sale of Goods (Vienna, 1980) (CISG), which was the culmination of UNCITRAL's work on uniform sales law, is not only a widely ratified treaty but also the model for numerous regional and national legislation. The CISG, which addresses both contract formation and party obligations, carefully weighs the interests of the buyer and seller and offers a wide range of remedies in the event of non-performance. The Convention on the Limitation Period in the International Sale of Goods is an addition to the CISG that deals with a difficult and important area of sales law that is subject to vastly diverse treatment in various legal systems.
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What is one way to name a computer document to be able to identify it as the most recent version? Question 14 options: add READ LATER to the end of the file name add your initials at the end of the file name add the date at the end of the file name give the document a completely new name every time it's changed
Answer:
Adding the date at the end of the file name will be able to identify it as the most recent version.
how does using org development help the team at zephyrus with their change-management challenges? 2 what is true about both org development and change set development?
Team member changes can be combined in a controlled way will help. One can create release arte facts with altered and new metadata components using org development and change sets.
The word "change management" refers to all strategies for assisting teams, individuals, and organisations in undergoing organisational transformation.
It comprises strategies that significantly alter a firm or organisation, such as those that reroute or redefine the use of resources, business processes, budget allocations, or other modes of operation.
To transfer customizations between Salesforce orgs, use change sets. Only changes made via the Setup menu can be included in Change sets. Change sets include org-related data. They don't include data like records.
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wine and roses, incorporated, offers a bond with a coupon of 7.5 percent with semiannual payments and a yield to maturity of 7.95 percent. the bonds mature in 15 years. what is the market price of a $1,000 face value bond?
If wine and roses, incorporated, offers a bond with a coupon of 7.5 percent with semiannual payments and a yield to maturity of 7.95 percent. the bonds mature in 15 years. The market price of a $1,000 face value bond is: $960.97.
Market priceWe would be making use of financial calculator to determine the market price of the bonds by inputting the below data into the calculator
= -PV(Rate;NPER;PMT;FV;type)
Where:
PV = Present value ?
Future value = $1,000
Rate of interest = 7.95 percent / 2= 3.975
NPER =15 years × 2 = 30 years
PMT = $1,000 × 7.5% ÷ 2 = $37.5
Hence,
PV = $960.97
Therefore the market price is the amount of $960.97.
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a firm underwriting of a municipal bond issue usually has a number of different broker-dealers involved. those who earn a commission on each sale they
Members of the selling syndicate are obligated to sell the bonds that have been assigned to them. The total takedown on each bond sold by a member.
A syndicate is a transient coalition of companies that joins forces to manage a significant transaction that would be challenging or impossible to do independently. When a collection of investment banks cooperates to market a new issue of securities, syndication facilitates the easy pooling of resources and risk sharing among businesses. Underwriting syndicates, banking syndicates, and insurance syndicates are only a few examples of the various sorts of syndicates.
Companies from the same industry typically make up syndicates. To develop a novel medicine, for instance, two pharmaceutical corporations might merge their research and development (R&D) teams by forming a syndicate.
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according to matthew boyle, author of the bloomberg article: inside walmart’s corporate culture clash over e-commerce, the key objective of the ceo mcmillon is to
Incorporating shared value across their value chain and creating an internet technology firm inside of the largest retailer in the world in order to promote flexibility is the CEO McMillon's main goal.
Internet technologies is a technological area that includes the knowledge and abilities required to create web-based, cloud-based, mobile, and e-commerce applications. This concentration is available as part of Taylor's University and University of the West of England, Bristol's Bachelor of Information Technology (Hons) with dual award degree.
Students should be able to create apps utilizing tools and software that are utilized on the Internet after completing this specialization/extension. This will aid students in pursuing their passion for being Internet savvy or in broadening their employment options as Internet Technology Specialists, Internet Technologists, Internet Technology Solutions Architects, Internet Technologies Support Analysts, Internet Technologies Systems Analysts, Internet Technologies Support, Internet Technology Infrastructure Support, and other related positions.
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true or false: managers can use the product life cycle model to help predict what pricing, product, promotional, and placement strategies they should employ at each of the four stages
The statement 'managers can use the product life cycle model to help predict what pricing, product, promotional, and placement strategies they should employ at each of the four stages' is true.
In the field of business, the product life cycle model can be described as a model using which the life-cycle of a product is managed. All four stages of product life are strategized through the product life cycle model.
The product life cycle model helps in determining what the price of a product should be depending on factors such as the cost that took for its makeup, the cost of other related products in the market etc. All other strategies of promotions, placement, etc are managed by the product life cycle model.
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reynold's furnishers is experiencing a period when their sales are increasing at a slower rate. the company realizes that new users cannot be added indefinitely and that, sooner or later, its market will approach saturation. which stage is the company now entering?
Reynolds furnishers is experiencing a period when their sales are increasing at a slower rate. the company realizes that new users cannot be added indefinitely and that, sooner or later, its market will approach saturation. Company is now entering beginning of growth stage.
A market is a composition of systems, establishments, tactics, social members of the family or infrastructures whereby events have interaction in change. while events can also trade items and offerings via barter, most markets depend on sellers providing their goods or services to customers in exchange for money.
A market is a place wherein buyers and dealers can meet to facilitate the trade or transaction of products and offerings. Markets can be bodily like a retail outlet, or digital like an e-retailer. other examples consist of illegal markets, public sale markets, and monetary markets.
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you have been appointed head of marketing for barry's younique yachts. barry, the ceo, is interested in determining whether offering his yachts at a lower price would increase the firm's revenue. he asks you for advice.
You should tell Barry that he should reduce his prices. Yachts are luxury goods and therefore exhibit a high price elasticity of demand. Thus, revenue would increase.
A yacht is a sailing or powered boat that is used for cruising, racing, or leisure. Although there isn't a set meaning, the phrase typically refers to boats with a cabin meant for overnight use. Any form of sea vessel that is used solely for entertaining, cruising, water sports, fishing, or year-round accommodation is considered a yacht.
A luxury good or service is something that is valued highly in a certain society. Products like expensive handbags or watches are examples of luxury goods, as are services like a chauffeur or golf club membership. As consumers' affluence grows, they tend to buy more luxuries.
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The complete question is:
You have been appointed head of marketing for Barry\'s Younique Yachts. Barry, the CEO, is interested in determining whether offering his yachts at a lower price would increase the firm\'s revenue. He asks you for advice. Using your knowledge of elasticity, you should tell Barry:
a mail-marketing company combines two inputs, pre-stamped envelopes (input 1) and printed marketing campaign material (input 2). every envelope can be stuffed with two pieces of paper. that is, the number of marketing mailers is determined by the following production function: y
The cost in the short Run for 9 years is $267 is mathematically given as
This is further explained below.
What is the short run?Generally, The idea of the short run proposes that within a certain time frame in the future, at least one of the inputs will be fixed, while the others will continue to be variable.
In the field of economics, it is used to illustrate the concept that the amount of time an economy has to respond to various stimuli may cause it to behave in a variety of different ways.
[tex]Y = min( { x_1, \frac{ x_2}{5}[/tex]
So in short run, x_2 = 60, Y = 9
9 = min { x_1, 12}
Now, for 9 units of Y, the required amount of X1 is 9.
Generally, the equation for the short run is mathematically given as
SR = w_1y_1 + w_2*X_2
SR= 3*9 + 4*60
SR= 27 + 240
SR= $ 267
In conclusion, the cost in the short term for 9 years is $267
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CQ is attached below
learning effects are cost savings that result from: automation. knowledge acquired by doing. sound product planning tactics. diseconomies of scale. outsourcing.
Learning effects resulting from knowledge acquired by doing are cost savings. Thus, the correct option is (b) ‘knowledge acquired by doing.’
In the context of economics, the learning effect refers to the concept that learning acquired over the cumulative production process maximizes productivity and produces an increase in wages.
Economists theorize that learning effects lead to cost-saving productions because with continuous involvement in the production processes workers become more and more familiar with production and manufacturing processes.
While the other options are incorrect because:
Automation refers to the use of technology to improve the efficiency of work.Sound product planning tactics are long-term plans to achieve certain objectives and goals.Diseconomies of scale is the cost disadvantage that occurs when a business grows so large that reduces profitability.Outsourcing is the process of hiring third-party to handle business operations.You can learn more about learning effects at
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Linda wants to buy some equipment and needs computer software to use the equipment. Linda asks the salesperson if the software is mac-compatible because she owns only one computer and it is a macbook. The salesperson states that the computer software is mac-compatible and many of his customers use the software on their apple computers. The software box offers no information regarding operating system requirements. When linda arrives home and opens the package, she discovers the software is not mac-compatible. The store states it will not accept returns of opened software, and the salesperson says he was relying on what other customers told him. What will be the result if linda files a lawsuit?.
The result if Linda files a lawsuit will be c. Linda wins under an implied warranty of fitness for a particular purpose.
An action is a proceeding by a party or parties against another in the civil court of law. The archaic term" suit in law" is set up in only a few laws still in effect. The term" action" refers to a civil action brought by a complainant that demands a legal or indifferent remedy from a court.
When you sue a person, you file your action against that person, using their legal name and any aliases. You also need that person's address. frequently, it's easy to get this information if you don't normally have it, by looking at any paperwork you may have about the legal disagreement.
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the maker of lays potato chips wanted its customers to choose the next new flavor of its chips. contestants would submit their ideas along with an idea for an advertising jingle and the winner would receive a cash prize and have their chip idea placed into production. this is an example of which sales promotion technique?
Participants would submit their concepts along with a jingle suggestion, and the winner would get $1,000 and have their chip concept put into reality. A contest is an illustration of a sales promotion strategy.
A competition is it a sales promotion?People enter or take part in contests as sales promotions in order to be eligible to win a prize. Examples include the Monopoly game at McDonald's and the Publishers Clearing House sweepstakes.
A contest is what kind of advertising?A contest is described as a promotion in which entries require a certain level of expertise and winners are selected based on the quality of their submissions. Entrants may be required to submit a photo, respond to questions, write brief responses, or carry out any other activity or task that can be evaluated on performance as part of a contest.
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which of the following statements about the management pyramid is true? group of answer choices all companies use the management pyramid structure. the span of management is clearly defined in the management pyramid. the person with the most formal authority is at the top of the pyramid. the management pyramid typically eliminates the need for a clear chain of command. the management pyramid typically eliminates the need for unity of command.
This statement about the management pyramid is true A) the span of management is clearly defined in the management pyramid.
A management pyramid, also called a hierarchical structure, is an organizational shape where there may be one leader on top with increasingly more larger stages of management teams underneath them. You could envision the shape of those sorts of groups to resemble the form of a pyramid.
The 4 most commonplace sorts of managers are top-stage managers, middle managers, first-line managers, and group leaders. These roles range not best from their everyday obligations, but additionally to their broader function in the business enterprise and the sorts of personnel they manage.
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people may either start or buy small businesses for the sole purpose of providing an income for themselves and their families. these people may not intend to be particularly innovative, nor do they plan to expand significantly. this is what type of entrepreneurship?
These people may not intend to be particularly innovative, nor do they plan to expand significantly. this is the Lifestyle of entrepreneurship.
An entrepreneur is someone who has an idea and who works to produce a product or service that people will buy, as well as an association to support that trouble.
Entrepreneur takes on the utmost of threat and action for their new business and is frequently seen as a visionary innovator.
An entrepreneur is a person who starts a new business and generally risks his own plutocrat to start the adventure. exemplifications of well-known entrepreneurs include Bill Gates, Steve Jobs, Mark Zuckerberg, Pierre Omidyar, Arianna Huffington, and Caterina Fake.
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What has the biggest positive impact on workplace cooperation?
Answer: I would say its being able to talk to people and be social and not awkward
Explanation:
increasing the quality level by better products and processes may: ensure that the trade-off between prevention costs and other costs of poor quality is worthwhile. move a company closer to a competitive priority of price. reduce prevention costs. allow a company to raise the price of the product.
Increasing quality level by better products and process reduces the appraisal cost, external and internal failure costs. By providing better deliveries, the company can ask customers for premium price.
For long-term sales development and profitability, one of the most crucial things is to improve product quality. 2018 marked the first year where software testing businesses primarily concentrated on achieving end-user happiness, according to Sogeti's World Quality Report. Although raising product quality is a difficult task, businesses benefit from it through more sales and lower expenses.Businesses that want their products to be of higher quality must include quality principles into their everyday operations. Quality must therefore be fundamental to managing everyday operations and achieving business performance rather than being an afterthought. While numerous quality experts have provided definitions of quality, many of them have the same general ideas in mind.Learn more about Product quality, here
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when describing specialty channelers we mean that select one: a. the company specializes in special interest tours b. the tours are for people in special groups such as churches c. they are specialty intermediaries d. they include incentive travel firms, corporate travel offices e. c and d
When describing specialty channelers we mean c. they are specialty intermediaries d. they include incentive travel firms, corporate travel offices. c and d
Travel Agency Types: Travel agencies play an important role in the tourism and hospitality industries.
Significantly, travel agencies are an important component of the tourism and hospitality industries.
As an essential component of the tourism industry, travel agencies have undergone numerous operational and managerial changes in recent years and must constantly evolve in order to meet the needs of tourists and diversify distribution channels in the volatile tourism marketplace.
Thus, understanding how a travel agency operates, remains competitive, and meets the needs of customers is critical for any travel agency employee and those interested in a career in this vital sector.
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hayek bikes prepares the income statement under variable costing for its managerial reports, and it prepares the income statement under absorption costing for external reporting. for its first month of operations, 375 bikes were produced and 225 were sold; this left 150 bikes in ending inventory. the income statement information under variable costing follows. sales (225 × $1,600) $ 360,000 variable product cost (225 × $625) 140,625 variable selling and administrative expenses (225 × $65) 14,625 contribution margin 204,750 fixed overhead cost 56,250 fixed selling and administrative expense 75,000 net income $ 73,500 1. prepare this company's income statement for its first month of operations under absorption costing.
For the first month of operations under absorption costing, 28800 is the fixed cost added to inventory for this company's income statement.
The phrase "fixed cost" describes a cost that stays the same regardless of how many products or services are produced inventory or sold. Fixed costs are outlays that a corporation must cover regardless of any particular business operations. As a result, fixed costs are typically indirect because they don't affect how a company produces any goods or services. In general, businesses might have either fixed expenses or variable costs, which add up to their inventory overall costs. Shutdown points are typically used to cut back on fixed costs.
ABSORPTION COSTING INCOME STATEMENT :
Sales 396000
Less: Cost of goods sold
Variable product cost (156000)
Fixed product cost (72000*240/400) (43200)
Total product cost (199200)
Gross margin 196800
Less: selling and administrative overhead
Variable (13200)
Fixed (85000)
Total selling and administrative expenses (98200)
Net income 98600
Net income under absorption costing is higher than net income under variable costing by 28800
no of units in inventory (400-240) 160
Fixed cost per unit ( 72000/400) 180
Fixed cost added to inventory 28800
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Gordon’s growth model, also called the constant growth model, assumes that the present value of a stock’s __________ determines the value of the stock.
Gordon’s growth model, also called the constant growth model, assumes that the present value of a stock’s dividends determines the value of the stock.
The Gordon boom model (GGM) assumes that an agency exists for all time and that there's a regular boom in dividends whilst valuing an agency's stock. The GGM works via way of means of taking an endless collection of dividends in step with percentage and discounting them returned into the existing the usage of the specified price of return.
The formulation is composed of taking the DPS withinside the length via way of means of (Required Rate of Return – Expected Dividend Growth Rate). For example, the cost in step with percentage in Year is calculated the usage of the subsequent equation: Value Per Share ($) = $5.15 DPS ÷ (8.0% Ke – 3.0% g) = $103.00.
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shopping products are products that the customer sees as basically the same and wants at the lowest price. a. homogeneous b. unsought c. regularly unsought d. specialty e. new unsought
Homogeneous shopping products are those that a buyer perceives as being essentially similar and desires at the lowest price.
Mixtures that are homogeneous have a consistent structure or make up. For instance, if you mix table salt and water, the result is homogeneous because the salt totally dissolves and the water has an even distribution of salt flakes. Most commonly, homogenous refers to having same pieces or components throughout. A homogeneous entity has a consistent characteristic or personality throughout. The term "homogenous" can also refer to a group of things that are essentially the same or of the same kind. Fundamentally. used to indicate or emphasize the fundamental or essential aspect of a person or thing, or to indicate that a description is essentially correct or truthful. Essentially, he is a good man. can essentially conclude that what you are going to say has a little more relevance. Basic and necessary come to mind
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enu engineering pricing strategies evaluate menu items on the basis of: a. contribution margin and food cost percentage. b. menu mix and food cost percentage. c. contribution margin and popularity. d. none of the above.
Menu engineering pricing methodologies assess menu items based on contribution margin and popularity.
What are contribution margin and popularity?Menu engineering is a technique for assessing a restaurant's menu pricing that determines which items to include and their menu prices using sales data and food costs. With such information, menu engineering entails classifying menu items according to their profitability and popularity (sales volume).
Selling price per unit less variable cost per unit equals contribution margin (CM), also known as dollar contribution per unit. The amount of sales income referred to as "Contribution" is the fraction that is not used to pay variable expenses and hence helps to cover fixed costs. One of the fundamental principles of break-even analysis is this idea.
Contribution margin, or the marginal profit per unit sold, is a helpful metric in carrying out different computations and may be used as a gauge of operating leverage in cost-volume-profit analysis, a type of management accounting. The labor-intensive service sector typically has low contribution margins, whereas the capital-intensive industrial sector typically has large contribution margins.
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The length of an operating cycle is the time it takes to turn cash into inventory, then inventory into accounts receivable, and then accounts receivable back into cash. This statement is?.
The length of an operating cycle is the time it takes to turn cash into inventory, then inventory into accounts receivable, and then accounts receivable back into cash. This statement is True. Option A
This is further explained below.
What is an operating cycle?Generally, The amount of time it takes for a corporation to acquire things, sell those items, and earn income from the sale of those goods is referred to as an operational cycle.
In conclusion, The amount of time it takes to convert cash into inventory, then inventory into accounts receivable, and finally accounts receivable back into cash is what we mean when we talk about the duration of an operational cycle. This characterization is correct.
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CQ
The length of an operating cycle is the time it takes to turn cash into inventory, then inventory into accounts receivable, and then accounts receivable back into cash. This statement is?.
TRue or False
mckeel publishing had outstanding checks totaling $5,440 on its june bank reconciliation. in july, mckeel issued checks totaling $39,300. the july bank statement shows that $26,900 in checks cleared the bank in july. the amount of outstanding checks on mckeel's july bank reconciliation should be:
The amount of outstanding checks on McKeel's July bank reconciliation is $17,760.00.
What is Bank Reconciliation?Bank reconciliation refers to the statements meant to match the balances with that of the ledger accounts. It is the rectifications of the amount of the various transactions.
The amount of outstanding checks on McKeel's July Bank Reconciliation,
Outstanding checks in June Bank
Reconciliation $5,460.00
Add : Checks issued during July $39,500.00
Less : Checks cleared in July ($27,200.00)
Amount of outstanding checks on
McKeel's July Bank Reconciliation = $17,760.00
Therefore, it can be concluded that outstanding amount is $17,760.00
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cisco purchased pure digital, maker of the flip video recorder, but ended up shutting the unit down a little over two years later. the reason for cisco's failure was:
Cisco purchased pure digital, maker of the flip video recorder, but ended up shutting the unit down a little over two years later. the reason for cisco's failure was: Envelopment. Smartphone manufacturers and music players began to offer video recording features, enveloping the benefit provided by Pure's gear in their offerings.
A manufacturer is someone or business enterprise that produces finished items from uncooked materials by means of the usage of various equipment, equipment, and strategies, and then sells the products to purchasers, wholesalers, vendors, outlets, or to different manufacturers for the manufacturing of greater complex goods.
Production organizations are organizations that use raw materials, extra elements, or additives to create a completed precise. 3 production corporations are: Nestle: Turns raw cocoa into chocolate merchandise, as well as drinks. under Armour: Turns raw cotton and different materials into textiles or apparel.
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4. michael wants to improve the risk management process in his organization by creating content that will help management understand when certain risks should be accepted and when certain risks should be mitigated. the policy that michael needs to create is known as: a. a security policy b. a control framework c. a risk appetite statement d. a control testing procedure
The management of financial, legal, strategic, and security threats to an organization's earnings and capital is known as risk management.
What is the purpose of a strategy for risk management?
A structured strategy for dealing with risks, a risk management strategy can be utilized by businesses of any size and in any industry.The best way to think about risk management is not as a series of steps but rather as a cyclical process in which new and existing risks are constantly found, evaluated, managed, and monitored.
The fundamental objective of risk management is to anticipate potential issues and devise a strategy for resolving them.Internal and external risks that have the potential to harm an organization are examined in risk management.Typically, risk management teams divide their plans into four sections.
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a national package delivery company relies heavily on a hierarchy culture to manage its vast and complex shipping processes. are part of a hierarchy culture
An internal focus and valuing stability and control: are part of a hierarchy culture.
What is an organizational structure?An organizational structure can be defined as a strategic process that involves the division of a business firm or an organization into multiple functional units.
What is a hierarchy culture?A hierarchy culture is also referred to as hierarchical culture and it can be defined as a type of organizational culture that is typically characterized by consistent structure, and it is based on the achievement of long-term stability and a set of shared values throughout the entirety of a business organization (company or firm).
In conclusion, we can reasonably infer and logically deduce that a hierarchy culture emphasizes on valuing stability, internal focus and control of a business organization (company or firm).
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Complete Question:
A national package delivery company relies heavily on a hierarchy culture to manage its vast and complex shipping processes. ________ are part of a hierarchy culture.
An internal focus and valuing stability and control
A strong external focus and valuing stability and control
An external focus and valuing flexibility
An internal focus and valuing innovation and creativity
Jerrod owes $2000 on a credit card that charges him an annual percentage rate of 18%. If jerrod stopped making payments, how long would it be before the balance on his credit card reached $4000?.
It will take Jerrod 4 Years and 2 months to get his balance on his credit card $4000
In this question, it is stated that Jerrod owes $2000 on a credit card that charges him an Annual interest of 18%. If he stops making payments we have to find out how much time will it take for Jerrod to get his credit card balance to $4000.
Taking the annual interest rate of 18%,
first year's due payment will be => 2000 + (18*2000)/100 = $2360
Similarly, second year's due payment => 2360 + (18*2360)/100 = $2784.80
third year, the due payment will be => 2784.80 + (18*2784.80)/100 = $3286
Forth year, due payment => 3286 + (18*3286)/100 = 3877.48
At the beginning of the fifth year approximately 2 months the due payment will reach $4000.
Hence, it will take 4 years and 2 months for the amount to reach $4000.
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leah is a line worker who is widely admired by virtually everyone, from peers to corporate leaders. she is able to get along with everyone and often functions as an informal mediator when disagreements arise. she volunteers to cover the shifts of employees who have family emergencies, and when asked why, she says her motto is "do all the good you can. by all the means you can. in all the ways you can. in all the places you can. at all the times you can. to all the people you can. as long as ever you can." leah’s attitudes and behaviors are most consistent with which stage of moral development? a. preconventional b. postconventional c. subconventional d. conventional e. supraconventional
Answer:
The aswer is D
Explanation:
It is conventional
campus stop, incorporated, is a student co-op. campus stop uses a perpetual inventory system. the following transactions (summarized) have been selected for analysis: a. sold merchandise for cash (cost of merchandise $152,070). $ 275,000 b. received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $600). 1,600 c. sold merchandise (costing $9,000) to a customer on account with terms n/30. 20,000 d. collected half of the balance owed by the customer in (c). 10,000 e. granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 1,100 f. anticipate further returns of merchandise (costing $200) after month-end from sales made during the month.
The campus stop is a student cooperative and has accounts receivable of $1,800. The following transactions (summarized) have been chosen for analysis; campus halt employs a perpetual inventory system.
Accounts receivable (AR) is the remaining amount owed to a business for goods or services that have been delivered or consumed but have not yet been paid for by clients. The balance sheet classifies accounts receivable as a current asset. Customers' unpaid debt for goods they made with credit is referred to as AR.
1) Journal Entries:
Transaction Account title and explanation Debit Credit
a(1) Cash $275,000
Sales revenue $275,000
[To record cash sales]
a(2) Cost of goods sold $152,070
Merchandise inventory $152,070
[To record Cost of goods sold]
b (1) Sales returns and allowance $1,600
Cash $1,600
[To record Sales returns]
b (2) Merchandise inventory $800
Cost of goods sold $800
[To record Cost of sales returns]
c (1) Accounts receivable $20,000
Sales revenue $20,000
[To record Sales on account]
c (2) Cost of goods sold $9,000
Merchandise inventory $9,000
[To record Cost of goods sold]
d Cash $10,000
Accounts receivable $10,000
[To record collected from customer]
e Sales returns and allowance $1,800
Accounts receivable $1,800
[To record Allowance given to customer]
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The complete question is
Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis:
a. Sold merchandise for cash (cost of merchandise $152,070). $ 275,000
b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $800). 1,600
c. Sold merchandise (costing $9,000) to a customer on account with terms n/30. 20,000
d. Collected half of the balance owed by the customer in (c). 10,000
e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 1,800
in a contract where the payment is broken down such that 80 percent of the cost is for materials and 20 percent is for installation of those materials, the contract will be governed by:
In a contract where the payment is broken down such that 80 percent of the cost is for materials and 20 percent is for installation of those materials, the contract will be governed by the Uniform Commercial Code (UCC).
Uniform Commercial Code (UCC) refers to a comprehensive collection of laws which governs all commercial transactions in the United States. UCC is not a federal law however it is a commonly adopted state law. UCC governs the contract that include purchase of goods and other tangible objects. The code was developed in an effort to regulate the laws across all states. UCC implies to movable goods sales and purchases including but not limited to timbers, crops, minerals, and shipments of goods between companies and consumers.
Note: The question is incomplete. The complete include options: a) the UCC; b) neither the common law nor the UCC; c) both the common law and the UCC; d) common law.
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