It would be best to use the questionnaire job analysis approach.
The correct option is A.
How do job questionnaires work?The Job Description Questionnaire (JDQ) is a tool used to obtain details on the tasks and obligations associated with staff positions.
What does an HR questionnaire entail?A set of questions known as a questionnaire is used to gather data for a variety of reasons. Questionnaires can be designed, produced, distributed, and answered; the results can then be analyzed.
What exactly is the job analysis questionnaire method?The Work Analysis Questionnaire (JAQ) is a tool for gathering data that focuses on the tasks, obligations, vital duties, and physical demands of a particular job rather than the person performing the job.
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I Understand that the question you are looking for is
Halle is trying to identify the work performed and the working conditions of the 200 sales associates at Acme Global. She needs the information quickly to present it at the next management meeting. In this case, the ______ job analysis method would be most appropriate.
A. questionnaire
B. interview
C. diary
D. observation
sydney accepts delivery of $32,500 of merchandise it purchases for resale from troy: invoice dated may 11, terms 3/10, n/90, fob shipping point. the goods cost troy $21,775. record sydney's entry for this transaction.
Trade accounts receivable, notes receivable, and other receivables are the three categories into which receivables are typically broken down.
Do credit card bills ever get forgiven?
When a credit card issuer determines that a debt is uncollectible, it will often write it off. This often occurs after a minimum of six months without any payments. However, the method used by each creditor to decide whether a debt can be collected varies.
What is the accounts receivable entry?
a journal entry for accounts receivable. The sum that the business is owed by the client for the sale of its products or services is known as account receivable. The accounts receivable account is debited and the sales account is then credited to record the credit sales of goods and services.
Sydney - Buyer 11 Merchandise Inventory 40000 Accounts Payable 40000
11 Items in Inventory 345
Cash 345
12 Products in the Inventory 1400
1400 Accounts Payable
20 Payable Accounts 38600
Inventory of Goods 1158
Cash 37442
Troy - Seller 2.
11 Receivables totaling $40,000
Sales 4000
30000 in cost of goods sold
30000 in merchandise inventory
13 Sales Allowances and Returns 1400
1400 accounts receivable
Price of Good Sold 800
Inventory of Goods 800
21 Cash 37442
Discount in sales 1158
Credit Card Debt 38600
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Full Question - On May 11, Sydney Co. accepts delivery of $40,000 of merchandise it purchases for resale from Troy Corporation. With the merchandise is an invoice dated May 11, with terms of 3/10, n/90, FOB shipping point. The goods cost Troy $30,000. When the goods are delivered, Sydney pays $345 to Express Shipping for delivery charges on the merchandise. On May 12, Sydney returns $1400 of goods to Troy, who receives them one day later and restores them to inventory. The returned goods had cost Troy $800. On may 20, Sydney mails a check to Troy Corporation for the amount owed. Troy receives it the following day. (Both Sydney and Troy use a perpetual inventory system.)
1. Prepare journal entries that Sydney Co. records for these transactions.
2. Prepare journal entries that Troy Corporation records for these transactions.
assume that in the year 2010, the us nominal gdp was $15 trillion, while the gdp deflator was 200. calculate the us real gdp for 2010. group of answer choices $0.75 trillion $300 trillion $7.5 trillion $30 trillion
Assuming that in the year 2010, the US Nominal GDP was $15 trillion, while the GDP deflator was 200, then, the US Real GDP for 2010 will equals to $7.5 trillion
What is a Real GDP?This refers to an inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year which is expressed in base-year prices and often referred to as constant-price GDP, inflation-corrected GDP etc.
To calculate out Real GDP. We are using this formula "Real GDP=Nominal GDP/GDP deflator×100"
Where: Nominal GDP=$15 trillion, GDP deflator=200
Real GDP = $15 trillion/200 × 100
Real GDP = $7.5 trillion
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a european works council is a transnational, company-level committee of employees that gives workers the opportunity to learn about their company's financial health and future plans and to have a voice in providing feedback and ideas about these plans.
It is true that a European Works Council is a transnational, company-level committee of employees that gives workers the opportunity to learn about their company to have a voice in providing feedback.
European Works Councils are organizations that represent a company's European employees. Workers are informed and consulted by management about the progress of the business as well as any significant decisions made at the European level that may affect their employment or working conditions. European Works Councils (EWC) are information and consultation bodies that represent employees in multinational corporations in Europe.
Here is the complete question-
State if this statement is true or false.
A European Works Council is a transnational, company-level committee of employees that gives workers the opportunity to learn about their company's financial health and future plans and to have a voice in providing feedback and ideas about these plans.
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many organizations replace an information system by slowly phasing in components of the new system while slowly phasing out components of the old one. what is this cutover strategy called?
The cutover strategy in which many organizations replace an information system by slowly phasing in components of the new system while slowly phasing out components of the old one is called the d) phase-in approach.
In the phase-in approach, a project is broken down into pieces to complete it as it is a large project to complete on the whole.
The information systems of an organization are large data collections and cannot be replaced in one go for an organization.
In order for replacing the information system of an organization, the phase-in approach is used. In this approach, the new components of the information system are introduced slowly and the older once are removed slowly. There is a slow phase-in and a slow phase-out so that it is easier to replace a system.
Although a part of your question is missing, you might be referring to this question:
Many organizations replace an information system by slowly phasing in components of the new system while slowly phasing out components of the old one. what is this cutover strategy called?
a. direct conversion
b. parallel start-up
c. pilot start-up
d. phase-in approach
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speedy sneakers has given a foreign entity the right to produce and sell its running shoes in return for a royalty fee on every unit sold. this is called multiple choice vertical fdi. a greenfield investment. licensing. an acquisition.
Speedy sneakers has given a foreign entity the right to produce and sell its running shoes in return for a royalty fee on every unit sold. this is called false Licensing.
An entity that has already been incorporated in another territory, state, or nation is referred to as a foreign entity. In addition to international organizations, foreign governments, and any agency or division of foreign governments, a foreign entity is any corporation, business produce, partnership, trust, society, or other entity or group that is not incorporated or organiszed to conduct business in the United States. A foreign corporation is a company that operates in another country.
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high step shoes had annual revenues of $188,000, expenses of $105,200, and dividends of $19,200 during the current year. the retained earnings account before closing had a balance of $300,000. the entry to close the income summary account at the end of the year, after revenue and expense accounts have been closed, is:
The entry to close the income summary account at the end of the year, after revenue and expense accounts have been closed, is: Net income
This is further explained below.
What are annual revenues?Generally, The sum of all of a company's earnings that it brings in over the course of a calendar year through the sale of its goods, services, or other holdings is referred to as its annual revenue.
Your annual income does not take into account any of your costs in any way. On income statements, the word "sales" is often used as a synonym for "revenue" because of this reason.
The net profits of the firm are used to determine the amount of retained earnings.
After the company's net earnings have been moved to the retained earnings account, the dividend will then be paid out to the company's shareholders. Initially, the retained earnings account will be funded with the net earnings.
In conclusion, the equation for the Net income is mathematically given as
N=annual revenues- expenses
Therefore
N = 188,000 - 105,000
N= $83,000
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the trial balance of rollins incorporated included the following accounts as of december 31, 2024: debits credits sales revenue $ 6,700,000 interest revenue 44,000 loss on sale of investments $ 20,000 loss on debt investments 182,000 gain on projected benefit obligation 300,000 cost of goods sold 5,120,000 selling expense 480,000 restructuring costs 220,000 interest expense 10,000 general and administrative expense 380,000 the loss on debt investments represents a decrease in the fair value of debt securities and is classified as part of other comprehensive income. rollins had 100,000 shares of stock outstanding throughout the year. income tax expense has not yet been accrued. the effective tax rate is 25%. required: prepare a 2024 separate statement of comprehensive income for rollins incorporated.
Rollins Inc. ROLLINS INC. Statement of Comprehensive Income trial balance is prepared below :
Trial balance :A trial balance is defined as a financial report showing the closing balances of all accounts in the general ledger at a point in time. Creating an trial balance is the very first step in closing the books at the end of an accounting time . A trial balance can be a list of all the general ledger accounts contained in the ledger of a business. This list would contain the name of every nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
Trial balance :For the year ended December 31, 2024:
Sales revenue $6,700,000
Cost of goods sold -4,400,000
Gross profit $1,500,000
Selling expense 480,000
General and administrative expense 300,000 -380,000
Operating Income $800,000
Interest revenue 40,000
Interest expense -20,000 20,000
Income before taxes $820,000
Income tax (25%) -205,000
Income after tax $615,000
Other comprehensive income:
Gain on projected benefit obligation 260,000
Restructuring costs -190,000
Loss on sale of investments -10,000
Loss on debt investments -160,000 -100,000
Other comprehensive income $515,000
Elaboration :Data and Calculations:
Trial Balance as of December 31, 2021:
Debits Credits
Sales revenue 5,900,000
Cost of goods sold 4,400,000
Interest revenue 40,000
Interest expense 20,000
Loss on sale of investments 10,000
Loss on debt investments 160,000
Gain on projected benefit obligation 260,000
Selling expense 400,000
Restructuring costs 190,000
General and administrative expense 300,000
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ogletree enterprises purchased an 18-month insurance policy on may 31 for $3,600. the december 31 balance sheet after adjustments are prepared would report prepaid insurance of
On December 31, the entry for the prepaid insurance in the balance sheet should be adjusted to $2,200
The fee connected with an insurance contract that has been paid in advance of the coverage period is known as prepaid insurance. Thus, prepaid insurance is the money paid for an insurance contract that has not yet been used after the time period specified in the contract has passed.
From the data, the insurance payment should be fully accounted within 18 months.
Monthly premium cost = $3,600 / 18 = $200
The remaining months on December 31 (from May 31) = 18 months - 7 months = 11 months
Hence, the adjustment for the prepaid insurance is: 11 x $200 = $2,200
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what corporate diversification strategy is being pursued by disney? what evidence do you have that supports your position? how does the corporate office create a parental advantage, which is difficult to duplicate by its more focused competitors? what are synergies and economies of scope and how do they work at disney to lower its overall costs? given the diversification approach that disney uses, what are some things that they can do to deal further with the trend toward cord-cutting and competition from large streaming and content producers such at netflix, amazon, and other content producers?
The Walt Disney Company has developed a strategy that pursues diversified business operations in an effort to maintain its competitive edge.
What is corporate diversification strategy ?
When businesses want to expand, they use a diversification approach. In order to boost revenues, it is a practice to add a new product to your supply chain. These goods may represent a new subset of the market that your organization already serves, a strategy known as business-level diversification. Instead, if you enter a new market, corporate-level diversification takes place.
One of the four growth techniques popularized by Igor Ansoff is diversification. One of these growth strategies is more likely to be a fit for your business than the others, depending on the sector, size, and goals of your organization.
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Buyers enjoy consumer surplus when the market price is ________than the highest price buyers are willing to pay; sellers enjoy producer surplus when the market price is ________ than the lowest price sellers are willing to accept.
Buyers enjoy consumer surplus when the market price is lower than the highest price buyers are willing to pay; sellers enjoy producer surplus when the market price is higher than the lowest price sellers are willing to accept.
What is consumer and producer surplus?Consumer surplus is the difference between the highest price a consumer is willing to buy a good or service and the price of the good.
Consumer surplus increases as the price of the good decreases. When drawn on a graph, consumer surplus is the triangular area between the price of the good and the highest amount consumers are willing to pay for the good.
Consumer surplus = highest price the consumer is willing to pay – price of the good
Producer surplus is the difference between the price of a good and the lowest price the seller is willing to sell the product. The higher the price of a good, the higher the producer surplus.
Producer surplus = price – least price the seller is willing to accept
Producer surplus and consumer surplus are used to measure the total welfare in the economy.
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Inventory began was $30,000. During the period the company purchased $61,000 of merchandise. At the end of the period, inventory was $22,000. If the gross profit percentage was 40%, what was sales revenue?.
If during the period the company purchased $61,000 of merchandise and at the end of the period, inventory was $22,000. If the gross profit percentage was 40%, The sales revenue is $115,000.
Sales revenueUsing this formula to determine the company sales revenue
Sales revenue = Beginning inventory + Merchandise - Ending inventory / (1- Gross profit percentage)
Where:
Beginning inventory = $30,000
Merchandise = $61,000
Ending inventory = $22,000
Gross profit percentage = 40%
Let plug in the formula
Sales revenue :
Sales revenue= $30,000 + $61,000 - $22,000 /(1- .40)
Sales revenue = $69,000 /0.60
Sales revenue= $115,000
Therefore we can conclude that the company has sales revenue of the amount of $115,000.
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If alejandro wants to pay off his student loan by basing it on how much he is earning at his job after graduation, what type of repayment plan is best for him?.
If Alejandro wants to pay off his student loan by basing it on how much he is earning at his job after graduation, then Income-Driven Repayment Plan is best for him.
In many countries, the government provides a federal loan to students in need so that they can manage their education. Also, to pay these lean there are different repayment plans that the government launches so that the students can pay off these loans easily.
In the scenario described above, Alejandro plans to pay off the loan with the earnings he gets from a job after graduation. Such a type of repayment plan that is based on income is referred to as an income-driven repayment plan.
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obtaining cash in a hurry sam is parked outside his bank and needs cash today. his standard checking account balance is sufficient to provide the cash, and he plans to deposit the paycheck he’ll receive in a few days to his checking account. sam also has a credit card whose terms allow him to obtain a cash advance. what would be the wisest way for sam to get the cash he needs today? withdraw the cash from his checking account take a cash advance on his credit card whichever way is quicker
The wisest way for Sam to get the cash he needs today is to withdraw the cash from his checking account.
What is checking account?In a financial institution, a checking account is a deposit account that permits both deposits and withdrawals. Checking accounts, also known as demand accounts or transactional accounts, are relatively liquid and can be accessed via cheques, automated teller machines (ATMs), and electronic debits, among other methods. A checking account varies from other bank accounts in that it frequently permits unlimited deposits and a restricted number of withdrawals, in contrast to savings accounts that occasionally restrict both.
Anyone who frequently wants to make withdrawals or other bank account operations should have a checking account. Generally speaking, opening a checking account is very simple. You can apply online or in person at a bank branch and receive a checking account within an hour.
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bahari owns an international grocery store in new york. he has benefited highly from the trading bloc that allows him to purchase food products from central american nations at a nice discount. with many of his customers from costa rica, the dominican republic, and guatemala, he is particularly grateful for , a trading bloc.
If bahari owns an international grocery store in new york. he has benefited highly from the trading bloc that allows him to purchase food products from central american nations at a nice discount. with many of his customers from costa rica, the dominican republic, and guatemala, he is particularly grateful for CAFTA-DR , a trading bloc.
What is CAFTA-DR?CAFTA-DR which full meaning is Dominican Republic–Central America Free Trade can be defined as a form of trade agreement between two or more nation example is the trade agreement between nation of Dominican Republic and the nation of Central America.
The advantage of free trade agreement between nations is that it help to boost trade among countries.
This scenario is an example of Dominican Republic–Central America Free Trade because bahara has benefited from buying from central american nation.
Therefore we can conclude that bahari engages in free trading.
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you are considering two independent projects with the following cash flows. the required return for both projects is 16 percent. given this information, which one of the following statements is correct?
According to the statement about two independent project with cash flow is You should accept both projects based on both the NPV and IRR decision rules.
Option E is correct.
What do you mean by cash flow?Cash flow is defined as the movement of money in and out of a organisation . Cash received identifies inflows, and cash spent identifies outflows. The cash flow statement is a financial statement that reports on a company's sources and usage of cash flow over definite time.
What Are NPV and IRR?Net present value (NPV) is defined as the difference between the present value of cash inflows and the present value of cash outflows over a definite period of time. On contrary , the internal rate of return (IRR) is a calculation used to predict the profitability of potential investments.
The question is incomplete the missing part is given below:
You are considering two independent projects with the following cash flows. The required return for both projects is 16 percent. Given this information, which one of the following statements is correct?
You should accept Project A and reject Project B based on their respective NPVs.You should accept Project B and reject Project A based on their respective NPVs.You should accept Project A and reject Project B based on their respective IRRs.You should accept Project B and reject Project A based on their respective IRRs.You should accept both projects based on both the NPV and IRR decision rules.Learn more about cash flow:
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along with being rare, durable, and not easily substituted, the resource must also be , which means the customer is willing to pay extra because of the uniqueness.
The replacement is rated according to how closely it resembles the entrepreneur's special resource and capability. The alternative serves the same fundamental demand that the original product or service satisfies.
The required details for substitute in given paragraph
A replacement is a product that consumers can quickly swap out for another. In economics, goods are frequently substituted for one another if the demand for one product rises as the price of the other does. In economics and consumer theory, a substitute, or substitutable good, is a thing or service that customers perceive as being substantially the same as or sufficiently similar to another good. A product that serves as a replacement is known as a substitute.
Alternatives are valued by customers and have a significant role in the market.
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madison outlet has the following inventory transactions for the year: date transaction numbers of units unit cost total cost january 1 beginning inventory 10 $200 $2,000 march 14 purchase 15 300 4,500 $6,500 january 1 to december 31 total sales to customers 12 what amount would madison report for cost of goods sold using fifo?
The cost of goods sold for Madison outlet using the FIFO inventory method is $2,600.
What is the cost of goods sold?
FIFO is an abbreviation for first in, first out. FIFO is an inventory method that postulates that the first inventory to be bought is the first to be sold. This means that when a unit of inventory is sold, it is assumed that it is sold from the inventory purchased at the earliest. The ending inventory is made up of inventory that was purchased latest.
Other inventory methods are last in, first out (LIFO) and the average inventory method.
Using the FIFO inventory method, the 12 sales to customers would be taken from the beginning inventory and the inventory purchased on March 14.
Cost of goods sold = $2000 + (2 x $300)
$2000 + $600 = $2,600
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The idea that elected representatives vote
for laws that are acceptable to most of their
constituents
Answer:
whats the question your asking
A company hires a third party to click on its competitor’s online ads, with no intention of learning more about the advertiser or making a purchase. This is an example of ________.
'A company hires a third party to click on its competitor’s online ads, with no intention of learning more about the advertiser or making a purchase. This is an example of an Affiliate marketer.
Affiliate marketing is a marketing arrangement in which an affiliate receives a commission for each visit, signup, or sale that an affiliate generates for a merchant. This agreement allows companies to outsource part of the sales process.
Affiliate marketing has his three main types: independent affiliate marketing, related affiliate marketing and participatory affiliate marketing.
E-Commerce Affiliate marketing promote other companies' products, services or websites through their own channels and earn commissions. Ecommerce affiliate marketing is growing in popularity and is being used to increase sales and generate online revenue, which benefits both brands and affiliate marketers.
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a company hires a third party to click on its competitor’s online ads, with no intention of learning more about the advertiser or making a purchase. this is an example of .
Based on the fact that the third party clicks on the competitor's online ads with no intention to interact with the advertiser, this is an example of Click Fraud.
What is Click Fraud?Click Fraud refers to an unethical action that companies get into these days to increase the advertising costs of their competitors thanks to pay-per-click advertising.
With Click Fraud, a company gets a third party to click on the ads of their competitors with no intention of actually purchasing the goods or service of the company. This way, the company gets charged more for people clicking on their ads, even though their ads don't bring them additional sales.
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a manager who privately and confidentially shares opinions about an ex-employee with a peer at another facility is making his or her own organization vulnerable to certain legal charges.
Yes, a manager who privately and confidentially shares opinions about an ex-employee with a peer at another facility is making his or her own organization vulnerable to certain legal charges.
Leaders can notice and learn if staff members need support or assistance by being visible, accessible, and compassionate. One of the most crucial principles a leader or management should understand is the influence of assisting their colleagues in their work.
More than just being noticed, visible leadership is active. The board's responsibility to establish a culture that demonstrates an organization's values and mission while considering employee and community feedback is unwavering. Leadership and employees communicate in total transparency.
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for essentium materials, the company profiled in the opening feature in chapter 8, an essential financial metric is to work to grow its monthly revenues faster than its monthly rate. accounts payable accounts receivable burn return profitability
For Essentium Materials, the company profiled in the opening feature in Chapter 8, an essential financial metric is to work to grow its monthly revenues faster than its monthly burn rate.
What is a burn rate in the market?In the business and the financial world, the use of the terms burn rate has to do with the ways that a company would have to make use of its venture capital in a way that it would finance the overhead in the business.
This would be before the company would be able to start to generate money from the business operations that they have.
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For Essentium Materials, the company profiled in the opening feature in Chapter 8, an essential financial metric is to work to grow its monthly revenues faster than its monthly ________ rate.
A) accounts payable
B) accounts receivable
C) burn
D) return
E) profitability
analyzing and reporting financial statement effects of bond transactions winston inc. reports financial statements each december 31. on may 1, of the current year, it issues $400,000 of 9%, 15-year bonds, with interest payable on october 31 and april 30. assuming the bonds are sold at par on may 1, complete the financial statement effects template to reflect the following events: (a) bond issuance, (b) the first semiannual interest payment, and (c) retirement of $150,000 of the bonds at 102 on november 1 of the current year.
Here the first semiannual interest payment is $18,000, and the 150,000 bond matures at $153,000 on November 1, 2017.
The reports financial statements each December 31. on may 1, of the current year balance Sheet
Transaction cash assets + non cash assets = liabilities + earned capital
(a) $400,000 $400,000 ----------
(b) ($18,000) ------------ ($18,000)
(c) ($153,000) ($150,000) ($3,000)
(b) first semiannual interest payment
= $400,000 × 9% x 6/12 = $18,000
(c) retirement of $150,000 of the bonds at 102 on November 1, 2017.
= $150,000 x 102% = $153,000
Official records of a person's, a company's, or another entity's financial position and actions are called financial statements. Financial data that is relevant is presented in a structured and understandable manner.
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Corrie bought a new flat screen 70 inch television and a speaker system from a local electronics store on credit. The store will charge 12% per year compounded monthly. Their monthly payments are $174. 80 for 3 years. What is the cash price of her purchase?.
question 2 during which step of the quality management process does a project manager ask questions such as: ""how will i determine if the quality measures will lead to project success?"" and ""what outcome do my customers want at the end of this project?"" 1 point
A project manager asks these questions at the quality planning stage of the quality management process.
How does the quality management process work?The majority of businesses normally adhere to a set of methods known as a quality management process to guarantee the caliber of the deliverables. Establishing quality goals that have the customers' approval is typically required to start a QMP.
What is the step of quality planning?The process of selecting what is most crucial to the project is called quality planning. This happens when you're preparing a project and deciding what elements are essential for its success. This covers the tools required to complete the project, the procedures to follow, and the requirements that must be satisfied.
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using compounding, how much interest will be earned in the second year of a savings account that has an original balance of $100 and earns 5 percent interest per year?
$125 simple interest will be earned within the second year.
We can use a simple interest basis,
A = P(1 + in)
A = 100(1 + 0.05(five) )
= $125 at the stop of the 5th year.
Simple interest is a quick and clean method for calculating the interest price on a loan.
Simple interest is decided with the aid of multiplying the day-by-day hobby fee thru the importance via the use of the range of days that elapse among bills.
Simple interest is calculated with the following system: S.I. = P × R × T, where P = most important, R = rate of interest in % in line with annum, and T = Time, generally calculated as the extensive type of years. The charge of interest is in percentage r% and is to be written as r/100.
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all else constant, if the interest rate decreases, what happens to the present value of some amount of money to be received in the future? for example, what will happen to the present value of $15,000 to be received n years from today (where n > 0) if the interest rate decreases from 15% to 10%?
When interest rate will fall down from 15% t0 10% the future value will get reduced.
Given information:
Let's assume no of years to be 4, n=4
Present value (PV) = $15,000
Interest rate (i) = 15% = 0.15
Future value = Present value (1+i) ^n
FV = 15,000(1+0.15) ^4
= $26,235.093
If interest rate come down to 10%, (i)= 0.10
Future value = 15,000(1+0.10) ^4
= $21,961.5
The worth of a liquid asset at a predetermined time relying on a presumed growth rate is known as future value (FV). Investment professionals and financial planners are concerned with future value since it helps them approximate how much a money invested today will be valued in the future.
Knowing in advance what an asset will provide in future date will help the investors to make a perfect investment decision.
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in a recent year a baseball team paid times as much to their ace pitcher as they paid to their shortstop. if they paid $ million for the two salaries, what did they pay each player?
Using an assumed value, the baseball team in a recent year paid their shorstop $30 million and paid their ace pitcher $60 million, making a total of $90 million for the two salaries.
From our assumed data,
Let a + b = 90 million which is the total paid for the two salaries
Where:
a represent the shortstop
b represent the pitcher
so pitcher (b) gets paid 2 times of what the the shortstop (a) gets paid that means, b = 2a
So a + 2a= 90 million
3a = 90
a = 30
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on march 12, fret company sold merchandise in the amount of $7,800 to babson company, with credit terms of 2/10, n/30. the cost of the items sold is $4,500. fret uses the perpetual inventory system and the gross method of accounting for sales. on march 15, babson returns some of the merchandise. the selling price of the returned merchandise is $600 and the cost of the merchandise returned is $350. the entry or entries that fret must make on march 15 is (are): multiple choice account titledebitcredit sales returns and allowances350 accounts receivable 350 account titledebitcredit accounts receivable600 sales returns and allowances 600 account titledebitcredit sales returns and allowances600 accounts receivable 600 merchandise inventory350 cost of goods sold 350 account titledebitcredit accounts receivable600 sales returns and allowances 600 cost of goods sold350 merchandise inventory 350 account titledebitcredit sales returns and allowances600 accounts receivable 600
On March 15, the journal entries that Fret Company must include:
Journal Entries:Debit Sales Returns $600
Credit Accounts Receivable $600
To record the credit sales.Debit Inventory $350
Credit Cost of goods sold $350
To record the sales returns.What are the journal entries?The journal entries are the daily records that are maintained for sales and purchases transactions, including the return of goods and cash payments and receipts.
Journal entries identify the accounts to be debited and the accounts to be credited, enabling postings to the general ledger to be made.
Transaction Analysis:March 12 Accounts Receivable $7,800 Sales Revenue $7,800
March 12 Cost of goods sold $4,500 Inventory $4,500
March 15 Sales Returns $600 Accounts Receivable $600
March 15 Inventory $350 Cost of goods sold $350
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suppose it costs both mcdonald’s and wendy’s $3 (cogs) per their value meal offerings, each sold at the same price of $4. assume that the cost of inventory for both companies is 30 percent a year. approximately how much does mcdonald’s save in inventory cost per value meal compared to that of wendy’s? you may assume that inventory turns are independent of the price.
$ 0.0222 per unit is the inventory that turns independent of the price.
Inventory
Inventory, often known as stock, refers to the items and supplies that a company keeps for the purpose of resale, manufacturing, or use. Inventory management is largely concerned with establishing the shape and positioning of stocked products.
McDonalds Inventory: $129.40 Revenue: $17,140.50 COGS: $11943,70 Gross Profit: $5,196.80
Wendy's Inventory: $54.40 Revenue: $3148.90 COGS: $1534.60 Gross Profit: $1513.40
Inventory Turnover Ratio = COGS/Inventory
McDonalds = 11943.70 / 129.40 = 92.30
Wendy = 1534.60 / 54.4 = 28.21
Holding Cost for one unit
McDonalds = 0.3 [tex]\times[/tex] $ 3 [tex]\times[/tex] 1/92.3 = $ 0.0097
Wendy = 0.3 [tex]\times[/tex] $ 3 [tex]\times[/tex] 1/28.21 = $ 0.0319
Higher for Wendy = .0319 -.0097 = $ 0.0222 per unit
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