Answer:
a. Journalize the adjusting entry for the estimated customer allowances.
- Dr Sales returns and allowances 10,500
- Cr Customer refunds payable 10,500
The adjusting entry should = total sales x estimated percent of returns = $1,750,000 x 0.6% = $10,500
b. Journalize the adjusting entry for the estimated customer returns.
- Dr Estimated returns inventory 8,000
- Cr Cost of merchandise sold 8,000
This amount is given in the question, $8,000, so you need to record it as a decrease in COGS and an increase in returns inventory.
Answer:
A strictly dominant action produces: a higher payoff than any other action the player can use for every possible action of the other players.
Explanation:
A strictly dominant action does not play fair. Here, there is no equality because strict dominance requires all payoffs to be strictly greater.
A strictly dominant strategy is that strategy that always provides greater utility to a the player, no matter what the other player's strategy is.
A rational player will avoid a strictly dominated counterpart because if his opponent uses strictly dominated action he will be come out worse off regardless of which moves other players make.
Answer:
a prior period adjustment
Explanation:
A prior period adjustment -
It is the correction of the accounting error which took place in the past and was written in the prior year of financial statement , net of the income taxes , is known as a prior period adjustment .
It is the method to fix the previous problem of past during the reporting .
hence , the correct term fro the given statement is a prior period adjustment .
Federal Trade Commission (FTC) regulations require that used car buyers be informed of whether or not the vehicle comes with a warranty.
<h3>What is the Federal Trade Commission </h3>
The Federal trade commission is a body that is saddled with the responsibility of enforceing federal consumer protection laws which are aimed at preventing fraud, deception and unfair business practices.
The Commission also prevents federal antitrust laws that guides against anticompetitive mergers and other business practices that could result in higher prices, fewer choices, or less innovation.
Learn more about the FTC at brainly.com/question/2376957
