hughesbella
15.02.2021 •
Business
On June 3, 2020, Novak Company sold to Ann Mount merchandise having a sales price of $7,300 (cost $5,840) with terms of n/60, f.o.b. shipping point. Novak estimates that merchandise with a sales value of $730 will be returned. An invoice totaling $140 was received by Mount on June 8 from Olympic Transport Service for the freight cost. Upon receipt of the goods, on June 8, Mount returned to Novak $200 of merchandise containing flaws. Novak estimates the returned items are expected to be resold at a profit. The freight on the returned merchandise was $24, paid by Novak on June 8. On July 16, the company received a check for the balance due from Mount. Prepare journal entries for Novak Company to record all the events in June and July.
Solved
Show answers
More tips
- S Sport When will the Biathlon World Championships 2011 take place in Khanty-Mansiysk? Answers to frequently asked questions...
- O Other What is a Disk Emulsifier and How Does it Work?...
- F Family and Home What does a newborn need?...
- F Family and Home Choosing the Right Car Seat for Your Child: Tips and Recommendations...
- F Food and Cooking How to Get Reconfirmation of Registration?...
- C Computers and Internet How to Get Rid of Spam in ICQ?...
- A Art and Culture Who Said The Less We Love a Woman, the More She Likes Us ?...
- F Family and Home How to Get Rid of Your Neighbors?...
- S Society and Politics How Could Nobody Know About the Dead Mountaineers?...
- H Health and Medicine How to Cure Adenoids?...
Answers on questions: Business
- B Business The person that exemplifies the desired change effort a. the person who has the day-to-day responsibilities of overseeing the change process b. the person who initiates...
- B Business Assume that the interest rate on borrowings in japan is 1 percent, while the interest rate on deposits in australian banks is 5 percent. a trader borrows in yen and...
- B Business Suppose the number of firms you compete with has recently increased. you estimated that as a result of the increased competition, the demand elasticity has increased...
- B Business The following are the transactions of morrell corporation: morrell corporation disposed of two computers at the end of their useful lives. the computers had cost...
- B Business Acountry is attempting to measure its growth rate in technology. this is: possible to estimate using the growth accounting equation. impossible because you cannot...
- B Business The following information is available for two samples selected from independent but very right-skewed populations. population a: n1equals13 upper s subscript 1 superscript...
- B Business Maxwell mining company s ore reserves are being depleted, so its sales are falling. also, because its pit is getting deeper each year, its costs are rising. as a...
- B Business What is a turnkey operation? group of answer choices a) the buying of another company b) a contract for a large construction project, often for a government agency...
- B Business Which of the following payments are taxable payments for federal unemployment tax? a.value of meals and lodging furnished employees for the convenience of the employer...
- B Business Leah s toys makes rubber balls. the current process is capable of producing balls that weigh on average, 2.7 ounces, with a standard deviation of 0.29 ounces. a.)...
Ответ:
c) Investment in a DPP (Direct Participation Program)
Explanation:
Direct Participation Programs are a form of limited partnership. DPP has the lack of liquidity, since ownership interests are not always freely transferrable and require the approval of a general partner of the DPP. Each of the other items listed are more liquid on a short-term basis. Bonds can be sold, bond fund shares can be redeemed, equities are easily sold in the secondary market, and though CDs are not transferrable, the maximum maturity is 1 year or less, so the client would have short-term access to the funds invested.