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1 year ago

What is the distinction between sales allowances and sales discounts?

1 answer:

3 0

A sales return occurs when a customer returns merchandise for a refund. A sales allowance is when they keep the problematic item but you reduce the price for them. If customers purchase with credit and make an early payment, a sales discount is a price reduction.

A sales discount is a price decrease that the seller offers in exchange for the buyer paying the vendor in full and on time. This strategy is frequently applied when a seller needs money right away.

A sales discount is a lower price that a company offers on a good or service. Find out how to add discounts to invoices. A sales discount, usually referred to simply as a "discount," offers clients of a business a lower price on one or more of the goods or services being provided.

Learn more about sales discount here

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Randa is trying to lower the vacancy rates for the commercial property she manages because her revenue targets will increase by

Dmitry [639]

Answer:

Operating budget

Explanation:

An operating budget is a detailed projection where the company expected its revenue and expenses for a period of time. It is to be prepared at the closing of the year to represent the expected level of the activity during the following year

So as per the given situation, it is the operating budget that contains the revenue details

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2 years ago

A society can produce two goods: donuts and beer. The society's production possibility frontier is negatively sloped and "bowed

monitta

Answer:

c. increases

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

The production possibility frontier is graph that shows the two combinations of goods that an economy can produce given its resocurces.

As the production of donuts increases, the amount of beers that would be forgone in order to increase production of donuts rises.

I hope my answer helps you

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3 years ago

Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the following:

Anastaziya [24]

Answer and Explanation:

The preparation of the stockholder equity section is presented below:

Tandy Company

Balance Sheet (Partial)

Stockholders Equity :

Contributed Capital :

Common stock (21,900 shares × $6) $131,400

Preferred stock (5,000 shares × $13) $65,000

Additional Paid in Capital - Common stock (21,900 shares × $20) $438,000

Additional Paid in Capital - Preferred stock (5,000 shares × $17) $85,000

Total Contributed Capital $719,400

Add: Retained Earnings $41,600

Total Stockholders Equity $761,000

4 0

3 years ago

Identify the uses of generally accepted accounting principles (GAAP). A. Independent accountants use GAAP to determine the amoun

lora16 [44]

Answer:

The correct option is;

B. Companies use GAAP when preparing financial statements

Explanation:

Generally Accepted Accounting Principles (GAAP) are the guidelines with regards to the standards, principles, practices and procedures of financial statement compilation by accountants issued by the Financial Accounting Standards Board (FASB). It is a requirement that all publicly quoted companies make use of GAAP for their financial compilation.

GAAP comprises of the generally accepted accounting records reporting and recording methods as well as policy board standards of accounting procedures.

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3 years ago

Gilson Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and

Ann [662]

Answer:

a. $2,020 Favorable

Explanation:

The computation of spending variance for direct materials in April is shown below:-

For computing the spending variance for direct materials in April first we need to find out the actual price per unit which is here below:-

Actual price per unit = Actual direct material ÷ Actual units purchased

= $49,086 ÷ $5,060

= $9.70

Spending variance for direct materials in April = (Actual price per unit - Standard price per unit) × Actual quantity

= ($9.70 - $10.10) × 5,060

= -$0.4 × 5,060

= $2,024 Favorable

which is closest to $2,020 Favorable.

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3 years ago