Answer:
C. $3,375
Explanation:
Calculation for the value of this stock on the company's balance sheet on December 31
Stock value= 225 shares* $15 per share
Stock value=$3,375
Therefore the value of this stock on the company's balance sheet on December 31 will be $3,375
The journal entry to record the cash refund to the customer includes a debit to Sales Returns and Allowances and a credit to Cash for $40.
An item is returned to the seller by a customer or client as a sales return.
- Refund policies are customizable by businesses. There are other options, such as allowing free returns within a set time limit, imposing a restocking cost, or only allowing returns with a receipt. A shop credit or exchange may be available from some businesses. Accountants can enter these transactions in a sales returns account after confirming a return complies with a company's policy.
- An allowance is a reserve set aside in anticipation of costs that will arise at a later time. By creating a reserve, a cost that would have otherwise been recognized in a later period is instead recognized sooner, into the present period.
Learn more about Sales return, here
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Answer:
$42,700 cash is available for distribution
Explanation:
In order to calculate the cash available for sharing, we will first identify the debit and credit transactions. Debit transactions are expenditures, while credit transactions are incomes, hence we need to calculate the difference between the income and the expenditure.
Available cash = Everett (credit) - Miguel (debit) + Ramona (credit)
Available cash = 52,800 - 47,500 + 37,400 = $42,700
Therefore $42,700 is available in cash for distribution to the partners
Hung jury is the answer
hope it helps
D. leniency is based on when somebody rates an employee too high. Strictness error is when somebody was rated very very low.
