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Answer:
C. DEBIT TO SALES RETURNS
D. CREDIT TO ACCOUNTS RECEIVABLE
Explanation:
The journal entry to record the May 15 transaction is shown below:
Sales return and allowance A/c Dr $40,000
To Accounts receivable $40,000
(Being sales return is recorded)
For recording the given transaction we debited the sales return and credited the account receivable. Both are recorded for $40,000
Answer:
$15
Explanation:
Average fixed cost = Total fixed cost / quantity
Total fixed cost = Total cost - Total variable cost
= $150,000 - $75,000 = $75,000
Average fixed cost = $75,000 /5000 = $15
I hope my answer helps you
Answer:
$23.6 per share
Explanation:
Given that,
Total common equity = $5,500,000
Shares outstanding = 250,000
Net income = $525,000
Dividends paid out = $125,000
Total value at the end:
= Total common equity + Net income - Dividends paid out
= $5,500,000 + $525,000 - $125,000
= $5,900,000
Therefore,
Book value per share at 2014 year end:
= Total value at the end ÷ No. of shares outstanding
= $5,900,000 ÷ 250,000
= $23.6 per share
Answer:
In order for effective price discrimination to occur, the seller must have a downward sloping demand curve.
Explanation:
The seller must also have at least two identifiable groups of customers with price elasticities of demand for the product, and the seller must be able to prevent customers from reselling the product.
