Fortune company's direct materials budget shows the following cost of materials to be purchased for the coming three months: january february march material purchases $12,040 $14,150 $10,970 payments for purchases are expected to be made 50% in the month of purchase and 50% in the month following purchase. the december accounts payable balance is $6,500. the expected january 31 accounts payable balance is: a. $6,500. b. $7,075. c. $12,040. d. $6,020. e. $9,270.

d. $6,020

Explanation:

It is provided that payments to vendor that is accounts payable will be made 50% in the month of purchase and 50 % in upcoming month.

That is outstanding balance at any month end will be 50% of purchases of that month.

Here, opening balance of accounts payable = $6,500

This will be paid in January

Assuming this is 50% of purchases of December

Now purchase in January = $12,040

50% paid in January itself = $12,040 50% = $6,020

50% outstanding at month end = $12,040 50% = $6,020

Therefore correct option is

d. $6,020

answer; // there are violations that can cause injuries or death;

explanation: doctrine of respondeat superior is a legal doctrine that is commonly used in tort. this principle makes an employer or principal legally responsible for the wrongful acts done by an employee or agent, if such acts occur within the scope of the employment or agency.