If Winters Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Winters' ledger showed Cash of $8,000 and Common Stock of $8,000. The appropriate journal entries for the transactions using a perpetual inventory system will be:
Winters Hardware Store Journal entries
May 1
Debit Merchandise inventory $7,100
Credit Accounts Payable $7,100
May 2
Debit Accounts Receivable $4,000
Credit Sales $4,000
Debit Cost of goods Sold $3,000
Credit Merchandise inventory $3,000
May 5
Debit Accounts Payable $300
Credit Merchandise inventory $300
May 9
Debit Cash $3,920
(98%×$4,000)
Debit Sales Discount $80
(2%×$4,000)
Credit Accounts Receivable $4,000
May 10
Debit Accounts Payable $6,800
($7,100-$300)
Credit Merchandise inventory $68
(1%×$6,800)
Credit Cash $6,732
(99%×$6,800)
May 11
Debit Supplies $900
Credit Cash $900
May 12
Debit Merchandise inventory $3,100
Credit Cash $3,100
May 15
Debit Cash $230
Credit Merchandise inventory $230
May 17
Debit Merchandise inventory $2,000
Credit Accounts Payable $2,000
May 19
Debit Merchandise inventory $250
Credit Cash $250
May 24
Debit Cash $5,500
Credit Sales $5,500
Debit Cost of goods Sold $4,100
Credit Merchandise inventory $4,100
May 25
Debit Merchandise inventory $800
Credit Accounts Payable $800
May 27
Debit Accounts Payable $2,000
Credit Merchandise inventory $40
(2%×$2,000)
Credit Cash $1,960
(98%×$2,000)
May 29
Debit Sales Returns and Allowances $125
Credit Cash $125
Debit Merchandise inventory $90
Credit Cost of goods Sold $90
May 31
Debit Accounts Receivable $1,280
Credit Sales $1,280
Debit Cost of goods Sold $830
Credit Merchandise inventory $830
Learn more here:
https://brainly.com/question/22077689
Would workers' compensation cover a pizza delivery person who was injured in a car accident while delivering pizza? Explain your answer.
Answer:
yes
Explanation:
Most pizza delivery drivers are considered to be employees of the company for which they drive. ... As such, your accident and subsequent injuries should be covered under the auspices of the company's workers' comp.
Which statement about a money market account is true?
A. Depositors are offered an introductory interest rate.
B. A debit card is linked to your account.
C. Depositors are required to use 10 percent of the funds each
month.
D. Depositors are permitted to write a limited number of checks each
month.
SURMAT
Answer to your question is D. depositors are permitted to write a limited number of checks each month
The statement that is true about a money market account is Depositors are permitted to write a limited number of checks each month. The correct option is D.
What is a money market account good for?You get almost always-immediate access to your money with money market accounts. MMAs frequently allow customers to use their debit cards to obtain cash or write cheques. And be aware that, unlike with a certificate of deposit (CD), withdrawals are often free of charge.
Money market accounts are a type of savings account that typically pays a higher interest rate than a traditional savings account. They may also require a higher minimum balance to open and maintain the account. Money market accounts often allow a limited number of checks to be written each month, typically between three and six. This limit is designed to encourage saving and discourage excessive withdrawals or transactions.
Thus, the ideal selection is option D.
Learn more about money market here:
https://brainly.com/question/17078982
#SPJ2
what is the primary role of consumers in a free market economy?
Answer:
The consumer is the one who pays to consume the goods and services produced.
Explanation:
As such consumers play a vital role in the economic system of a nation. In absence of effective demand the producers would lack a key to motivation
A company creates an identity for a product through its logo,
packaging and promotions. Customers like the product and
remember their good feelings every time they see something
about the product. They continue to buy the product and also tell
their friends about it, which increases sales. What is this an
example of?
Answer:
branding or brand mark would be my answer
When firms expand into global markets, they are faced with the choice of reducing costs and/or adapting to the local market. When high pressures exist to adapt locally, companies should choose a(n) ________ strategy or ________ strategy in order to compete in the global marketplace. transnational; multidomestic international; global global; multidomestic global; transnational
Answer: Global strategy; Transnational strategy Explanations: Companies should choose a global strategy or transnational strategy A global strategy is a technique used by a firm to expand and compete in the global market. It is the plans made by a firm to grow beyond it's border. Global strategy covers three other strategies 1. International strategy 2. Multinational strategy 3. Global strategy A firm adopt global strategy in order to increase its sales of products and Profit. Transnational strategy is a technique which allows firms to expand sales of goods and services while taking into consideration the difference in culture of people.
Read more at Answer.Ya.Guru – https://answer.ya.guru/questions/3700788-when-firms-expand-into-global-markets-they-are-faced-with-the.html
why is it more difficult to get out of debt when only paying the minimum payment?
When one keeps paying only the minimum amount, they will find getting out of debt harder because:
More interest will accrue on the balance leftWhen a person pays the minimum balance that they are supposed to pay on a loan, they will be leaving a larger portion of money to be paid back.
This amount will accumulate interest such that the debt will keep increasing because the interest needs to be paid back as well.
In order to get out of debt faster, it is recommended that you pay higher than the minimum because this would reduce the amount that interest is charged on which means that you would owe less interest.
In conclusion, paying the minimum balance leads to more interest accumulating which makes getting out of debt difficult.
Find out more at https://brainly.com/question/13711677.
in periods of rising prices, the inventory method which results in the inventory value on the balance sheet that is closest to current cost is the
In periods of rising prices, the inventory method which results in the inventory value on the balance sheet that is closest to current cost is the FIFO method.
A period of rising prices is known as an inflationary period. In an inflationary period, the prices of goods and services increase.
There are three inventory methods:
FIFO method: The first in, first out (FIFO) method assumes that the inventories purchases first are sold first and ending inventory is made up of the goods bought last. LIFO method: The last-in, first-out (LIFO) method assumes that the latest purchased inventories are the first to be sold and ending inventory consists of goods purchased first. The average cost method: this method makes use of the weighted average cost to determine the value of goods sold and ending inventory.The balance sheet records ending inventory. In periods of rising prices, the FIFO method would result in inventory value closest to the current cost in the balance sheet.
A similar question was answered here: brainly.com/question/14938191?referrer=searchResults
explain what the characteristics are for a partnership
here you go
Explanation:
Characteristics of Partnership
Unlimited liability: The members of a partnership have unlimited liability, i.e. they are collectively and individually liable for the firm's debts and obligations. ... Sharing of profit and loss: The main purpose of the partnership is to share profit in the agreed ratio.
do you think there are different ethical standers for healthcare app and gaming app
Yes, definitely.
Gaming doesn't really have many standards besides possibly something involving gambling. Healthcare is responsible for people's health as well as their health data. It should be all about the user for the user. They have a huge responsibility. This goes for mental health (MHapps), contract tracing, etc.
After making a decision, you still have to _____. a. Celebrate your effectiveness b. List your available resources c. Implement a plan of action d. Discuss your possible outcomes Please select the best answer from the choices provided A B C D
Answer:
c. Implement a plan of action.
Explanation:
You already made your decision, so you've already considered all the outcomes and checked whether you have the resources needed for this. So the only thing left to do is to implement the plan of action
Answer:
It is C
Explanation:
edge 2021
with this type of externality, in the absence of government intervention, the market equilibrium quantity produced will be than the socially optimal quantity.
The type of externality where market equilibrium quantity produced will be more than socially optimal quantity in absence of governemtn intervention is Negative externality.
Let understand that whenever a production of good or service negatively affect the unrelated third party who is not directly involved in a market transaction, it is said that negative externality exists in the scenario.
A very good example of commonly cited Negative Externalities are air pollution and noise pollution which was caused during production an affects unrelated third party.
If there is presence of government intervention in the production, then, the production of goods or service will be halted.
Therefore, in conclusion, this type of externality is called the Negative Externality.
Read more about Negative Externality here
brainly.com/question/13901028
Skylar is looking to purchase real estate as an investment using all of her available funds, but she has
several concerns. Which of the following concerns are valid from an investment standpoint? (1 point)
11
She might be disappointed because real estate usually offers modest returns.
She might miss a better investment opportunity because real estate is not particularly
liquid.
She might lose her investment funds because real estate is notoriously risky.
O She might regret the purchase because she would not want to live on the property herself.
Answer:
she might miss a better investment opportunity because real estate is not particularly liquid.
Explanation:
i just took the test
The concern that should be valid from the investment standpoint should be that she misses the better investment opportunity.
What is an investment?Investment refers to the act where the money should be committed with an expectation to receive the extra income or the profit. Also, it should be grown in near future. Moreover, it leads to the risk of losses. Since she is looking to purchase real estate for investment so here she misses the investment opportunity.
Learn more about investment here: https://brainly.com/question/24452710
Using its aging of accounts receivable, Age Old, Inc. estimates that $90,000 of its $4,000,000 of accounts receivable will be uncollectible. Prior to making its adjusting entry, the unadjusted Allowance for Doubtful Accounts has a credit balance of $1,000. After the adjustment, Bad Debt Expense on the income statement will be ______ the Allowance for Doubtful Accounts on the balance sheet.
The total of the Bad Debt Expense is $90,000
In finances, a Bad Debt Expense refers to money a company could not collect and therefore became an expense as it negatively affects the company's financial situation. The most common causes of a bad debt expense are:
The customers could not pay due to economic hardships.The customers refused to pay.Moreover, the bad debt expense is calculated by determining how much money is uncollectable. Based on this, the total of bad debt expense in this company is $ 90,000 because this is the money considered as uncollectable.
Learn more in: https://brainly.com/question/12198015
business communication helps establish, build and maintain our __________ with our audience.
Business communication helps to establish, build and maintain our relationship with our audience.
Business communication is the act of sharing information and messages between those that work in a business and the public.
Effective communication in the business place is very necessary because it helps to foster a better relationship in the work place.
It helps the organization also to meet with its goals and improve the business as well as the reduction of errors.
Read more on https://brainly.com/question/7571233?referrer=searchResults
Which type of insurance can help provide financial support to beneficiaries when someone dies?
Collision
Health
Life
Property
The type of insurance that can help provide financial support to beneficiaries when someone dies is Life Insurance.
This is because Life insurance is a type of insurance in which the surviving dependents of the person whose life is insured get financial supports following the death of an insured policyholder.
In a Life Insurance deal, the surviving dependents usually get a certain amount of money, often termed a death benefit.
The surviving dependents must, however, be named the life insurance policy before he or they can reap the benefits.
Hence, in this case, it is concluded that the correct answer is Life Insurance.
Learn more here: https://brainly.com/question/1373572
the term economists use to describe a situation in which the economy’s overall price level is rising is
Answer: i would guess it would be inflation, but im not sure. thats my best guess.
Explanation: if the overall pricing of things is rising its inflation
what tiny country once offered itself to be rented out for $70,000 a night?
Answer:
Liechtenstein
Answer:
Liechtenstein
Explanation:
In 2011, Airbnb partnered with the tiny German-speaking principality of Liechtenstein to offer the entire country out for rent
what happens if you overdraw your checking account?
Answer:
Your bank can close your account and report you to a debit bureau, which may make it hard for you to get approved for an account in the future.
Describe some of the characteristics of federal student loans.
Answer:
Interest rates on federal loans are fixed. The interest rates on private student loans can be variable or fixed and are usually higher.
Undergraduate borrowers who can demonstrate financial need could receive a federal subsidized loan, meaning the government pays the interest until you graduate.
Federal loans offer flexible repayment options and loan forgiveness programs. Private loans have few repayment options and no loan forgiveness programs.
Federal loans don’t have to be repaid until you graduate or drop below half-time status as a student.
Explanation:
Hope this helps you if it does please mark brainiest
a pharmaceutical company is using sales call reports from previous years in order to develop personal selling ideas for its current team. the company is using
The type of data used by the pharmaceutical company to develop new personal selling ideas is called internal secondary data.
The information compiled or gathered which is used in other generate new pattern or insight aimed at solving a problem is called data. Since, these data was obtained form within the firms database, then it is called an internal data. Since the data was gathered from previous year's data, then it is called internal secondary data.Therefore, since the data was not just generated within the firm but from previously used internal data, the it is called internal secondary data.
Learn more : https://brainly.com/question/25121452
for a company making advanced technology, with highly specialized components, a customer divisional structure would be more effective than a modular structure.
Modular simply means something that has separate units, especially when each unit performs its own function and could be replaced by a similar unit for the same function. For a company making advanced technology, with highly specialized components, a customer divisional structure would be more effective than a modular structure is regarded as a false statement.
The Modular Structure Organizations put in several ways that show how the organization operates and performs.The structure carries along computer, automotive, appliances, and other companies making advanced technologies and using specialized components.
It is based on dividing the business into small, strong tied strategic business units, which is based on specific elements of the organizational process.
Conclusively, modularity is used often when dealing with technological and organizational systems and the modular organization is very flexible.
Learn more from
https://brainly.com/question/25161529
Why does this occur?
This has to be asked in context.
the market for public goods such as – are often subject to – . private markets tend to – these goods and services because of the – problem. one solution to this problem is for – to use people’s – dollars to provide for public goods.
The market for public goods such as city parks are often subject to market failure . Private markets tend to undersupply these goods and services because of the free rider problem. One solution to this problem is for government to use people’s tax dollars to provide for public goods.
A public good is a good that consumers cannot be excluded from consuming and it is also non-rivalrous. For example, everyone has access to a city park.
A private good is a good that consumers can be excluded from consuming and it is also a rivalled good. For example, a private good is a pair of jeans. You would have to pay for the jeans and once you buy the jeans another person cannot buy the jeans.
Market failure occurs when the market is unable to efficiently distribute goods and services to consumers. The free rider problem is a type of market failure. It is when consumer enjoy the benefits of a public good but do not pay for these products.
To learn more about public goods, please check: https://brainly.com/question/12390476?referrer=searchResults
Paragraph Writing of 50words
- define the term economic goods
- state two examples
- describe two features of economic goods
Answer:
I am Kajal I am follow you
Explanation:
please make me brainliest
plss someone give me a 3 examples of business objectives with timeframe (our product is reselling the shoes) plss i need it
Answer:
campaign
store
fundraising
all great examples of buisness objective
(Literally please help I'm not sure..)
If you are a guest at a hotel, and you want to request an order of nachos to be delivered to your room, which department should you call?
Housekeeping Department
Food & Beverage Department
Front Desk & Rooms Department
Maintenance Department
To request an order of nachos to be delivered to your room Food & Beverage Department you should call. The answer is OPTION C.
To request an order of nachos to be delivered to your room as a guest at a hotel, you should call the Food & Beverage Department. This department is responsible for handling all food-related services in the hotel, including room service and dining options.
They take orders for in-room dining and coordinate the delivery of food items to the guests' rooms. By contacting the Food & Beverage Department, you can place your nachos order and have it delivered directly to your room for a convenient and enjoyable dining experience during your stay at the hotel.
To learn more about Food, click here.
https://brainly.com/question/32109606
#SPJ2
Craig has a lot of reasons for wanting to start his own business. What is the main reason why he believes he’s ready to turn his side job into a full-scale business? Multiple Choice He is passionate about landscaping. He has been able to grow his client base steadily just by word of mouth. His wife knows how to build a website. He is tired of his corporate job.
Answer:
B
Explanation:
The correct option for the question is B. He has been able to grow his client base steadily just by word of mouth.
What is the client base?
A client base is a company's primary source of business and revenue. A client base includes the current clients paying for the products or services. A client base can be identified or defined in many ways depending on the sort of industry. Existing clients may also be the first to be sold new offerings.
Conclusion: If you sell computer systems, your client base includes the clients that are subject to your marketing efforts and customers who have already purchased your computers.
Learn more about computer here https://brainly.com/question/24540334
#SPJ2
target has used ________ to identify 25 products that, when bought together or over time, predict a woman’s likelihood of being pregnant as well as her child’s expected due date.
Predictive modeling is a method used by firms and organisation in predicting future outcomes through the use of data modeling. Target has used predictive modeling to identify 25 products that, when bought together or over time, predict a woman’s likelihood of being pregnant as well as her child’s expected due date.
Predictive modeling is known to be one of the old ways a business can see its future (path forward) and make appropriate plans.
This modeling has high accuracy and also commonly use. It uses mathematical and computational methods to predict an event or outcome.
Conclusively, Predictive modeling can see the forward paths of firms through the use of mathematical and computational means of predicting events.
Learn more from
https://brainly.com/question/18484504
based on the competing values framework, wells fargo’s strong sales-based environment between 2006 to 2015 portrays a ________ culture.
Wells Fargo’s strong sales-based environment between 2006 to 2015 portrays a market culture.
A market culture refers to the form of corporate culture that competitiveness is being emphasized between the organization and its competitors as well as the employees.
Wells Fargo had a strong sales culture. This led to an increase in their revenue from 2006 to 2015. This led to several sales pressure on the employees. The employees who hadn't met their sales target encouraged their family members and friends to open accounts.
Therefore, there was competitiveness between the workers as well. This type of culture is a market culture.
Read related link on:
https://brainly.com/question/25020184
what is one of the distinguishing characteristics that sets terrorist financing apart from money laundering and makes it difficult to detect?
Answer:
The origin of the funds
Explanation:
hope it helped
The most basic difference between terrorist financing and cash laundering involves the starting place of the price range. Terrorist financing uses finances for an unlawful political cause, however, the cash isn't always necessarily derived from illicit proceeds.
What is money laundering?Money laundering involves disguising financial belongings in order that they can be used without detection of the unlawful pastime that produced them. Thru cash laundering, the crook transforms the economic proceeds derived from a crook pastime into finances with a seeming prison supply.
Money laundering is illegal due to the fact it's miles a way for criminals to benefit from crime and frequently involves multiple unlawful activities. Both the act and the foundation of money laundering make it unlawful.
Learn more about money laundering here: https://brainly.com/question/22955778
#SPJ2