1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
just olya [345]
3 years ago
15

False Value Hardware began 2016 with a credit balance of $32,000 in the allowance for sales returns account. Sales and cash coll

ections from customers during the year were $650,000 and $610,000, respectively. False Value estimates that 6% of all sales will be returned. During 2016, customers returned merchandise for credit of $28,000 to their accounts. False Value's 2016 income statement would report net sales of:
$622,000.
$607,000.
$646,000.
$611,000.
Business
1 answer:
gayaneshka [121]3 years ago
5 0

Answer:

$607,000

Explanation:

False Value Hardware began 2016 with a credit balance of $32,000 in the allowance for sales returns account.

Sales and cash collections from customers during the year were $650,000 and $610,000, respectively.

False Value estimates that 6% of all sales will be returned.

During 2016, customers returned merchandise for credit of $28,000 to their accounts.

False Value's 2016 income statement would report net sales of:  

The closing balance in the allowance for sales returns account will be: 32,000 opening balance + 6% 0f 650,000 - sales returns within the year of 28,000 = $43,000

Hence Net Sales will be 650,000 - 43,000 = $607,000

You might be interested in
Assume that you have already completed a 5-year international assignment working for KPMG as a Tax Consultant in Singapore.
horrorfan [7]

From the information, it can be inferred that it's an indication of the uncertainty that exists in the Vietnamese cultural model.

From the complete information, Vietnam has low points in the avoidance index. This implies that they're less associated with their cultural roots and don't have concern for hiring white people.

Some of the solutions that can be applied for training the workers include providing them with ethical and language-based training and also encourage a team culture.

Learn more about model on:

brainly.com/question/25993624

6 0
2 years ago
Joy is taking out a car loan which she will pay back with interest. Which option will require her to pay the lowest amount in in
garri49 [273]
Unless the bankers are serious money moochers, the lowest interest (In Total Amount) will be:
C. Daily Compound
This is the most likely because the more time you take to pay your debt the more you have to pay in interest.
5 0
3 years ago
Was frederick taylor, the pioneer of scientific management, during the historical period of early management thinking?
Varvara68 [4.7K]

He for sure was a mechanical revolutional pioneer!

5 0
3 years ago
Vicki likes to visit a social network site called Fanfiction and read the stories that others post on this site. She doesn't rea
LenaWriter [7]

Answer: The correct answer is "c.spectators".

Explanation: Vicki is the spectator type of social media participants because he does not interact with others, visit the website often and do not publish any stories, he only dedicates himself to reading the stories that others publish.

8 0
3 years ago
A restaurant offers hamburgers and cheeseburgers on its menu. Customers order a hamburger, indicate how it is to be cooked and w
Elina [12.6K]

Answer:

D

Explanation:

Late point differentiation is when the production process starts with a generic product and the end product is differentiated to a specific end product.  Late point differentiation is used in firms where there is a high level of demand uncertainty

<u>Advantages of Late point  differentiation</u>

1. it also consumers to receive a differentiated or customised product

2. It reduces the waiting time of consumers and allows consumers access quicker services

3 0
3 years ago
Other questions:
  • Sylvio purchased an apartment building as an investment in January 2008 for $383,500 and sold it for $475,000 in 2014. He report
    15·1 answer
  • What occurs immediately after a boom in the business cycle?
    11·1 answer
  • in its first month of operations, Waterway Industries made three purchases of merchandise in the following sequence: (1) 370 uni
    11·1 answer
  • In a recent year, BMW sold 217,044 of its 1 Series cars. Assume the company expected to sell 226,244 of these cars during the ye
    13·2 answers
  • Equipment costing $70,000 with a salvage value of $14,000 and an estimated life of 8 years has been depreciated using the straig
    6·2 answers
  • Which of the following lists correctly identifies a few of the basic elements all market economies share?
    15·2 answers
  • You purchased a stock at a price of $46.55. The stock paid a dividend of $1.79 per share and the stock price at the end of the y
    11·1 answer
  • Why should you avoid the use of sarcasm, clichés, and idioms in business<br> letters?
    6·1 answer
  • You are on the team of executives at Star Bank. You have been meeting as a team to discuss the future of the bank, including big
    15·1 answer
  • the best reason for investing company resources in vertical integration (either forward or backward) is to
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!