1. On April 5, purchased merchandise from DeVito company for $18,000, terms 2/10,net/30,FOB shipping point. 2. On April 6, paid freight costs of $ 820 on merchandise purchased from DeVito company 3. On April 7, purchased equipment on account for $30,000 4. On April 8, returned some of April 5 merchandise, which cost $2,800 to DeVito company 5. Om April 15, paid the amount due to DeVito company in full Instructions A) Prepare the journal entries to record these transactions on the books of Olaf co. using a periodic inventory system. B) Assume that Olaf Co. paid the balance due to DeVito Company on May 4, instead of April15. Prepare the journal entry to record this payment

Evelyn would like to open a small business that is categorized as a being in the distribution industry. to do this she could open a establishment.

Yael decides that she no longer enjoys her job, and she quits to open a gluten-free, dairy-free kosher bakery. she pays a monthly rent for her store of $2,000. her labor costs for one month are $4,500, and she spends $6,000 a month on nut flours, sugar, and other supplies. yael was earning $2,500 a month working as a bank teller. these are her only costs. her monthly revenue is $14,000. which of the following statements about yael’s costs and profit are correct? correct answer(s) an accountant would say she is earning a monthly profit of $1,500. her implicit costs are $2,500 a month. an economist would tell her that she is experiencing a loss. her total costs are $12,500 a month. her explicit costs include the labor, rent, and supplies for her store. her economic profit is $1,500 a month.

Oakmont company has an opportunity to manufacture and sell a new product for a four-year period. the company’s discount rate is 18%. after careful study, oakmont estimated the following costs and revenues for the new product: cost of equipment needed $ 230,000 working capital needed $ 84,000 overhaul of the equipment in year two $ 9,000 salvage value of the equipment in four years $ 12,000 annual revenues and costs: sales revenues $ 400,000 variable expenses $ 195,000 fixed out-of-pocket operating costs $ 85,000 when the project concludes in four years the working capital will be released for investment elsewhere within the company. click here to view exhibit 12b-1 and exhibit 12b-2, to determine the appropriate discount factor(s) using tables.