A) Prepare the revenues section of the income statement.
Sales Revenue = $743,800
Sales Discounts = ($11,170)
Sales Returns and Allowances = <u>($22,820)</u>
Net Sales = $709,810
B) Prepare separate closing entries for (1) sales and (2) the contra accounts to sales.
(1) Dr. Cr.
Revenue Expense $743,800
Income Summary $743,800
(2) Dr. Cr.
Income Summary $33,990
Sales Discounts $11,170
Sales Returns and Allowances $22,820
Answer:
12 and 20, has
Explanation:
The semiconductors sector is the best for U.S. export as well, and ensure a lot of American jobs, innovation, and growth. You will find a quite busy semiconductor manufacturing sector in USM and there is an extensive foreign market that led to semiconductor perennially, and hence ranking as among the US top export sector. Considering no international trade the price of the semiconductor is supposed to be 12 and 20 billion dollars worth semiconductors annually that are being bought and sold inside the US. And the US certainly has comparative advantages in producing semiconductors.
Answer:
The correct answer is letter "C": Cut your expenses by an amount greater than your deficit.
Explanation:
In case there is a deficit in your budget, it means your expenses are higher than your net income. An adjustment must be made in such circumstances. To bring back the balance in your budget, <em>you should cut your expenses by an amount higher than the amount of the deficit</em>. Otherwise, you could increase your income but keeping your expenses at the same level.
Answer:
Deflation; 12.50%
5; 5.71
Increases
Explanation:
The percentage change in the basket cost is:
A negative change in cost means that there was a deflation.
From year one to year two, there is deflation at an annual rate of 12.50%.
The number of baskets that could be bought in years one and two are:
In year one, $40.00 will buy 5 baskets, and in year two, $40.00 will buy 5.71 baskets.
This example illustrates that, as the price level falls, the value of money increases.
