1.) Commercial Bank
2.)Advisory Firms
3.)Mutual Funds
4.)Insurance Companies
Answer:
C. credit to Customer Refunds Payable, $900
Explanation:
Global Company sold merchandise to Montana Industries for cash, $3,450. The cost of merchandise sold was $1,850.
Global Company refunded Montana Industries $900 for returned merchandise. The cost of merchandise sold was $600.
The entry that will be recorded by Global Company in the journal entry for the refund from the sale a credit to Customer Refunds Payable, $900
<u>This amount of $900 will eventually be netted off against the accounts receivable amount for the total sales of $3,450, reducing the amount payable by the customer to $2550</u>
Answer:
1. What amounts did Target report for the following items for the year ended January 30, 2016?
b) Income from current operations
$2,669 million
c) Net income or net loss
$2,737 million
d) Total assets
$37,431 million
e) Total equity
$10,953
2) What was Target’s basic earnings per share for the year ended January 30, 2016?
$4.74 per share
Why do you think Target has chosen to have its fiscal year end on January 30, as opposed to December 31?
I guess that Christmas Holiday season is very important for them and a large percentage of their revenue is generated during November and December. It reports at the end of January to have time to consolidate its financial statements.
3) Regarding Target’s audit report:
Who is Target’s auditor?
Ernst & Young
Did Target receive a "clean" (unmodified) audit opinion?
yes, it did
Answer:
Malcolm is a professional writer. He has already published many best-sellers. One of his friends expressed interest in knowing more about his writing process, so Malcolm showed his friend a few of his first drafts. The friend observed that the drafts were nothing like the final book, and the writing seemed amateurish compared to Malcolm's published work. When asked about it, Malcolm said that it was the normal way of things. In this scenario, the following is the reason of this:
A) Malcolm would have revised his work many times before he was satisfied with it.
Explanation:
- The option A is best reason because generally a writer doesn't break his or her flow while writing and that is what Malcolm would have done. After, he would have revised his work many times until he was satisfied.
- The option B is not correct as it is not possible to change the book of a writer entirely by the publishing company.
- The option C is also incorrect as the drafts were not long and cohesive because his friend found the draft amateurish but not perfect.
- The option D is incorrect as it is not true that writers only create first draft and other people produce all other subsequent drafts.
<h3>This scenario best illustrates the effect of the industry regulation component of on organizations by Safefen.
</h3>
Explanation:
The element of industry regulation consists of laws and guidelines regulating the business practices and procedures of individual companies, firms, and professions.
Government regulation of the industry is control of individual or firm actions by local, federal or state governments via price-setting processes or control of the quantity, quality, and safety of products and services produced.
Displaying the recommended age limit for each toy on its cover is one of Safefen's safety measures of toy industry regulations.
