On April 18, 20Y1, Bontanica Company, a garden retailer, purchased $9,800 of seed, terms 2/10, n/30, from
Question:
On April 18, 20Y1, Bontanica Company, a garden retailer, purchased $9,800 of seed, terms 2/10, n/30, from Whitetail Seed Co. Even though the discount period had expired, Shelby Davey subtracted the discount of $196 when he processed the documents for payment on May 1, 20Y1.
Discuss whether Shelby Davey behaved in a professional manner by subtracting the discount even though the discount period had expired.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
No Shelby Davey did not behave in a professional manner by subtracting the discount even t...View the full answer
Answered By
Ravi Tomar
I have 5 years of experience as an Agricultural Economics tutor. During this time, I have been able to successfully provide guidance to students in their studies and help them develop their knowledge and understanding of the subject. My approach to teaching has always been to combine academic learning with practical application, often drawing on my professional experience to help students better understand how the concepts they learn apply to the real world. I also focus on helping students develop critical thinking skills, enabling them to tackle problems independently and develop their own solutions. I have also been able to provide support on specific assignments, helping students to structure their work and ensure that it meets the required quality and standards.
0.00
0 Reviews
10+ Question Solved
Related Book For
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
Question Posted:
Students also viewed these Business questions
-
On February 24, 2008, Lawn Ranger Company, a garden retailer, purchased $40,000 of corn seed, terms 2/10, n/30, from Nebraska Farm Co. Even though the discount period had expired, Corey Gilbert, the...
-
On April 18, 2017, Botanica Company, a garden retailer purchased $9,800 of supplies, terms 2/10, n/30 from Whitetail Garden Center. Botanica then returned $800 of material they decided they no longer...
-
On April 18, 2014, Bontanica Company, a garden retailer, purchased $9,800 of seed, terms 2/10, n/30, from Whitetail Seed Co. Even though the discount period had expired, Shelby Davey subtracted the...
-
Chee, single, age 40, had the following income and expenses during 2017: Calculate Chees taxable income for the year before personal exemptions. If Chee has any options, choose the method that...
-
Using the rules of contours, list the contouring mistakes that are shown in the accompanying figure and list the contouring rule it violates. 68.96 Problem 17.21
-
Yu SLUIT 15 OT BU -12 Division A produces a product that it sells to the outside market. It has compiled the following: $9 Variable manufacturing cost per unit Variable selling costs per unit...
-
1 What quality management philosophies and techniques are appropriate to use in Cameron Balloons?
-
Preparing a Trial Balance Hagadorn Company has the following adjusted accounts and balances at year-end (June 30, 2011): Prepare an adjusted trial balance in good form for the Hagadorn Company at...
-
mated life of the ye Depreciation Calen machine on July 2.2 Required: $2.500,000, and Long-Term Deht, S1,800,000 Calculme the 1. Straight- Double- b. How much fiscal year will have the Soldused...
-
The adjusted trial balance of Carla Vista Supply Company included the following selected accounts: Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Freight-Out...
-
For a recent year, Best Buy reported sales of $42,879 million. Its gross profit was $9,961 million. What was the amount of Best Buys cost of merchandise sold?
-
Flounder Company purchased merchandise on account from a supplier for $32,100, terms 2/10, n/30. Flounder Company returned $8,600 of the merchandise and received full credit. a. If Flounder Company...
-
Explain how the ratio of a companys cash flows from operations to current maturities of its debt provides information about the safety of an investors holdings in that company. Does the ratio of cash...
-
What should be the equivalent units of production for (1) Dept M and (2) Dept. P? Can you please show the solutions and answer. Thanks Problem 1 Lee Gon Mfg. Co has its product processed in two...
-
Moullierat Mfg. is considering a rights offer. The company has determined that the ex-rights price will be $95. The current price is $102 per share, and there are 24 million shares outstanding. The...
-
This question involves hypothesis testing. The following numbers will help you answer these questions. The random variable Z ~N(0, 1) is standard normal. P(Z >1.28).1 P(Z1.65) .05 P(Z1.96) .025 P(Z...
-
Human service organizations require strong and effective leadership. Understanding what qualities make up an effective leader and how these qualities can be cultivated is of critical importance for...
-
18. What is the name of the heat treatment performed on a cold worked sample? 19. What is the percent coldwork of a sample with an initial thickness of 11mm and a final thickness of 7mm? 20. Which...
-
Diamond Ltd. reported profit of $850,000 for the year ended November 30, 2021. Depreciation Expense for the year was $175,000, Accounts Receivable increased by $80,000, Prepaid Expenses decreased by...
-
Refrigerant R-12 at 30C, 0.75 MPa enters a steady flow device and exits at 30C, 100 kPa. Assume the process is isothermal and reversible. Find the change in availability of the refrigerant.
-
A number of foreign countries have reporting standards that differ from those in the United States. What are some of the main reasons why reporting standards are often different among countries?
-
A number of foreign countries have reporting standards that differ from those in the United States. What are some of the main reasons why reporting standards are often different among countries?
-
How are financial accountants challenged in their work to make ethical decisions? Is technical mastery of GAAP not sufficient to the practice of financial accounting?
-
Bought an old van for 4000 from Peters promising to pay laterwhat is the transactions
-
Company has a following trade credit policy 1/10 N45. If you can borrow from a bank at 9,5% annual rate, would it be beneficial to borrow money and pay off invoices earlier?
-
Given the following exchange rates, which of the multiple-choice choices represents a potentially profitable inter-market arbitrage opportunity? 129.87/$1.1226/$0.00864/ 114.96/ B $0.8908/ (C)...
Study smarter with the SolutionInn App