Answer:
Cortina Company
Indication of the type of adjustment and the status of the accounts before the adjustment:
Type of adjustment (prepaid Status of the accounts before the
expense, accrued revenue, etc.) adjustment:
a. Usage adjustment Supplies Overstated by $1,200
b. Accrued Revenue Service Revenue understated by $700
c. Accrued Expense Interest Expense understated by $300
d. Earned Revenue Rent Revenue understated by $1,100
and Deferred Revenue overstated by
the same amount.
Explanation:
Cortina Company must recognize all revenue and expenses, whether cash has exchanged hands or not, provided they have been earned or incurred within the stated accounting period. This is in accordance with the accrual concept and the matching principle of generally accepted accounting principles.
Answer:
net sales for the period by Bear's Retail Store: 11,515.8
Explanation:
From the sales revenues we will subtract the returns and discounts.
sales revenues
530
4,900
<u> 6,900 </u>
12,330
sales returns
690 (6,900 for 10 items the custoemr returns 1 item)
<u><em>sales discount on Nancy </em></u>
(6,900 - 690) x 2% = 124.2
net sales: 12,330 - 690 returns - 124.2 discount = 11.515,8
Answer:
<u>B. extended product line length</u>
Explanation:
- The product line is a pricing strategy refers to as the pricing line extension and its purpose is to attract new customers, who may or may not be familiar with the current standard product line.
- Thus It adds a higher quality to the current products, considered as trading and forward stretch. Various features include the price lining, bundle pricing, bait pricing, leader pricing.
- Supermarkets like Walmart and amazon can often apply stretch top product lines so s to often grade there products to ensure that all markets are covered as to gain the maximum interest from customers.
Answer and Explanation:
There is no contract between Time's and Joshua, because it is not legally binding to each other and it has not been signed by either party. So not a single party is liable for the contract as the contract is unsigned and non-liable
Time has used it as a promotional means only for promoting magazine subscriptions.
Therefore, a case can not be built on letter-based basis.
Answer:
C: $2,385
Explanation:
A tax liability by definition is basically known as debt owed by a corporation or an individual to a tax authority like the Internal Revenue Service(IRS). To solve this question, set it up like this;
If $1,000 pays 4.5mills in taxable value, then 530,000 would pay how much?
If $1000 = 4.5
then tax liability on $530,000 would be= (530,000 *4.5) / 1,000
= 2,385,000/ 1000
= $2,385
