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Blizzard [7]
3 years ago
10

Tom's Textiles shipped the wrong material to a customer, who refused to accept the order. This is an example of a:-Sales revenue

.-Sales discount.-Sales return.-Sales allowance.
Business
1 answer:
Angelina_Jolie [31]3 years ago
3 0

Answer:

Sales return

Explanation:

Sales return when a customer is not satisfied with a product, refuses to accept the order and expects to receive back the whole amount of money he paid for it.

Tom's Textiles are at wrong here as they shipped the wrong material to a customer. The customer is allowed not to accept the order and all the money he paid must be reimbursed to him. The company should apologize for the mistake in a pleasant manner, as mistakes happen everyday and can be corrected quickly and efficiently.  

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Stellar Plastics is analyzing a proposed project with annual depreciation of $19,500 and a tax rate of 34 percent. The company e
marysya [2.9K]

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$20,226

Explanation:

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I attached it because there is no room here.

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3 years ago
A bond is issued at a discount when a​ bond's stated interest rate is​ ________. A. more than the effective interest rate B. equ
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2 years ago
Which of the following is an advantage of gathering data with surveys?
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3 years ago
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Skysong Company purchased an electric wax melter on April 30, 2020, by trading in its old gas model and paying the balance in ca
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Answer:

(a) has commercial substance

J1

Electric wax melter 5,720 (debit)

Accumulated depreciation :old gas model  6,930 (debit)

Old gas model : cost 12,320 (credit)

Profit on exchange of old gas model 320 (credit)

J2

Electric wax melter 11,000 (debit)

Cash 11,000 (debit)

(b) lacks commercial substance

J1

Electric wax melter 5,390 (debit)

Accumulated depreciation :old gas model  6,930 (debit)

Old gas model : cost 12,320 (credit)

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Electric wax melter 11,000 (debit)

Cash 11,000 (debit)

Explanation:

In terms of IAS 16, if an exchange of non-monetary item has commercial substance the Asset Acquired is measured at the Fair Value of Asset Given up or Fair Value of Asset Acquired.

However if an exchange of non-monetary item lacks commercial substance the Asset Acquired is measured at Carrying Amount of Asset Given up and there would no be any gain or loss on the exhange of asset given up.

(a) has commercial substance

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Accumulated depreciation :old gas model  6,930 (debit)

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Electric wax melter 11,000 (debit)

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Old gas model : cost 12,320 (credit)

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Electric wax melter 11,000 (debit)

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3 years ago
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