Allied Parts was organized on May 1, 2013 and made its first purchase of merchandise on May 3. The purchase was for 1,500 units at a price of $11 per unit. On May 5 Allied Parts sold 900 of the units for $15 per unit to Baker Co. Terms of the sale were 2/10 n/60. a. On May 7, Baker returns 315 units because they did not fit the customers needs. Allied Parts restores the units to its inventory. b. On May 8, Baker discovers that 75 units are damaged but are still of some use and therefore, keeps the units. Allied Parts sends Baker a credit memorandum for $525 to compensate for the damage. c. On May 15, Baker discovers that 50 units are the wrong color. Baker keeps 54 of these units because Allied Parts sends a $110 credit memorandum to compensate. Baker returns the remaining 36 units to Allied Parts. Allied Parts restores the 36 returned units to its inventory.

Answers

Answer 1

Answer:

Answer:

the requirements are missing, so I looked for them on similar questions. Journal entries need to be recorded regarding all the transactions with Baker Co.:

May 5, 2013, 900 units sold to Baker Co., credit terms 2/10 n/60

Dr Accounts receivable 13,500

Cr Sales revenue 13,500

Dr Cost of goods sold 9,900

Cr Inventory 9,900

a. May 7, 2013, Baker returns 315 units

Dr Sales returns and allowances 4,725

Cr Accounts receivable 4,725

Dr Inventory 3,465

Cr Cost of goods sold 3,465

b. May 8, 2013, sales allowance given to Baker to compensate damaged units

Dr Sales returns and allowances 525

Cr Accounts receivable 525

c. May 15, 2013, sales allowance given to Baker to compensate wrong color of 14 units

Dr Sales returns and allowances 110

Cr Accounts receivable 110

May 15, 2013, Baker returns 36 units

Dr Sales returns and allowances 540

Cr Accounts receivable 540

Dr Inventory 396

Cr Cost of goods sold 396

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Answers

Answer:

C) Cost-based

Explanation:

Cost-based based pricing is a pricing strategy where price is a mark up of cost of production. Price is the sum of cost of production and an extra amount to account for profit.

Value based pricing is setting prices at the consumers' perceived value for the product.

Fixed pricing is when price remains unchanged over a long period of time.

Variable pricing is when price changes based on location, region and other factors

I hope my answer helps you

A corn farm, a coal mine, and a fishing company are all part of the _________ industry.

Answers

The answer to the question presented above would be the 'extractive' industry. A corn farm, a coal mine, and a fishing company are all part of the 'extractive' industry. This is because they get the resources or 'extract' them from the environment.

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Answers

Answer:

In franchise, having management support from the franchisor is an ADVANTAGE whereas the coattail effect is considered a DISADVANTAGE.

Explanation:

When franchisee acquires a franchise, one of the main advantages is that the franchisee receives support, training and know-how form the franchisor. That is why franchises have a larger success rate than other types of new businesses.

The coattail effects refers to the possible negative effects that other franchises might have over your own franchise. For example, if a McDonald's restaurant on the other side of town offers a really bad customers service, and you also own a McDonald's franchise, many customers will believe that you also offer a bad customer service even though each restaurant is owned and operated by different people.

Final answer:

Management support is a benefit in franchises, while the coattail effect is a drawback.

Explanation:

In franchise, having management support from the franchisor is a benefit, whereas the coattail effect is considered a drawback.

Management support from the franchisor can include assistance with marketing, training, and operational guidance. This support can help franchisees succeed and grow their business. On the other hand, the coattail effect refers to the risk of a franchisee's reputation and success being heavily dependent on the overall reputation and success of the franchise brand.

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All of the following are true of custodial accounts, except: Group of answer choices custodial accounts represent a way parents can indefinitely control children. minors can set up custodial accounts with a parent. minors can set up custodial accounts with an older relative or friend. custodians can withdraw money from a custodial account for the benefit of the minor.

Answers

The incorrect statement related to the custodial accounts is " custodial accounts represent a way parents can indefinitely control children.

What are custodial accounts?

The custodial accounts can be defined as the accounts that are managed by a legal person or a guardian for the benefit of the beneficiary. The person who administer the account has an fiduciaryobligation towards the beneficiary.

The minors can set a custodial account with their parents or any of the elder relative or friend. The Guardian can withdraw money from the custodial account for the benefit of the beneficiary or minor.

Therefore the correct option is a.

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Answer:

custodial accounts represent a way parents can indefinitely control children

Explanation:

A custodial account is a financial account like the bank account, the trust fund or the brokerage account that could be set up for the beneficiary benefit and it is held by the responsible person who we called as the legal guardian

So as per the given situation, the above statement should be considered as it does not represent the way in which the parents could have the indefinite control with their children

Therefore the same is to be relevant

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Answers

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