The accounting entries for Rippen Corporation is recorded as follows:
December 3,
DR Accounts Receivable (Burnen Corp.) $480,000
CR Sales $480,000
DR Cost of Goods Sold $320,000
CR Inventory $320,000
December 8,
DR Sales Return $30,000
CR Accounts Receivable $30,000
DR Inventory $20,000
CR Cost of Goods Sold $20,000
December 12,
DR Cash $441,000
DR Credit Discount $9,000
CR Accounts Receivable $450,000
<h3>What is Journal Entry?</h3>
A journal entry is recorded for the transactions of a company in the relevant period, the entry that is recorded is also known as the double entry. These journal entries are then used to prepare T-Accounts, an then trial balance is made and ultimately income statement and balance sheet are made.
The transaction includes a discount of 2% as credit discount for the payment being made within 10 days.
Learn more about Journal Entries at brainly.com/question/27076717
#SPJ1
Answer:
Self-managed
Explanation:
Self managed team is management concept wherein group of diverse skill people are expected to work on their own without any supervision. This ensures collective accountability for any task undertaken. Employees have freedom to take their own decision. Self managed team concept is being implemented in organization with aim of increasing productivity, efficiency, cost saving and increased employee satisfaction.
Answer:
(A) Fixed exchange rate regime
(B) Fixed exchange rate
(C) Flexible exchange rate
(D) Flexible exchange rate
Explanation:
(A) A fixed exchange rate regime signals a commitment not to engage in inflationary policies. NOTE: Inflationary policies are a type of monetary policies (the type used to pump money into the economy). See answer (D).
(B) A fixed exchange rate regime provides certainty about the value of a currency, for example, when the exchange rate between Philippine Pesos and Arab Emirate Dollars is fixed at 10PHP - 1AED, traders in this currency will be certain that at any planning time in business, investment or consumption, 10 PHP will be equal to 1 AED.
(C) Flexible exchange rate distorts incentives for importing and exporting goods and services. What are these incentives? On the government side, it is either the revenue that government makes from import tariffs and duties OR the subsidy that government pays on exported goods. On the importer/exporter side, it is the custom duties paid by importers on imported goods AND the subsidies enjoyed by exporters on exported products. A flexible exchange rate distorts or fluctuates these incentives.
(D) Flexible exchange rate enables policy makers to engage in monetary policy. Now, monetary policy is a tool used by ministers of finance or policy makers in every country; to regulate (increase or reduce or bring back to normal) spending and investment. If the exchange rate between or among countries were fixed, monetary policies would have limited application or usefulness when implemented. A flexible exchange rate encourages and enables engagement in or use of monetary policies.
GDP stands for gross domestic product. The GDP allows economist to measure the market value in terms of money. They are measuring the final good or service that is being offered to a customer over any given time.
Since the first bag of flour is being sold to a bakery to make bread from and sell for $4.00 the GDP of this item is $4.00 because that is the cost a customer is paying.
The second bag of flour is sold to a customer for $2.00 in a grocery store and is the final cost a they are paying.
In this scenario, the GDP for the two products being sold to a customer is $6.00.