Answer:
As follows:
Explanation:
For acquisition of Westmont Company.
Inventory dr. 600,000
Land dr. 990,000
Buildings dr. 2,000,000
Customer Relationships dr. 800,000
Goodwill dr. 690,000
Accounts Payable cr. 80,000
Common Stock cr. 40,000
Additional paid-up capital cr. 960,000
Cash cr. 4,000,000
For legal fees
Services Expense dr 42,000
Cash cr 42,000
For stock issuance
Additional Paid-In Capital dr 25,000
Cash cr 25,000
Answer:
Debit Sales Returns and Allowances $500; debit Merchandise Inventory $150; credit Accounts Receivable $500; and credit Cost of Goods Sold $150.
Explanation:
Based on the information given the required appropiate journal entry to record the return on the books of the seller, in a situation were the goods can be sold to another customer is :
Debit Sales Returns and Allowances $500
Debit Merchandise Inventory $150
Credit Accounts Receivable $500
Credit Cost of Goods Sold $150
(To record the return on the books of the seller)
Comparing seller invoices to stock fees, obtaining decreased price or market facts, and recalculating deprecation schedules relate to the assertion: of valuation and allocation.
Definition of assertion: the act of affirming or something this is asserted: consisting of. a: insistent and superb in asserting, keeping, or defending (as of a proper or attribute) an announcement of ownership/innocence. b : an announcement that something is the case He provided no proof to help his assertions.
An instance of someone making a declaration is a person who stands up boldly in a meeting with a factor in opposition to the presenter, despite having valid proof to guide his statement. An example of an announcement become that of ancient scientists that stated the arena changed into a flat.
An assertive sentence is a sentence that states a fact. Such sentences are easy statements. The nation asserts or declares something. they are additionally referred to as declarative sentences. Assertive sentences typically give up with a length or complete prevent.
Learn more about assertion here: brainly.com/question/26115325
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Answer:
b. $ 36,000
Explanation:
The fundamental accounting equation is
Assets = Liabilities + Stockholders Equity
Per the data provided in the question regarding changes in account balances
$ 356,000 = $108,000 + (240,000+24,000)
$ 356,000 = $ 372,000
= - ($ 14,000)
Since the data provides that a dividend payment of $ 52,000 has been made, we have to add it to our differential balance to get the income for the year.
$ - 14,000 + $ 52,000 = $ 36,000
