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emmainna [20.7K]
3 years ago
11

Assume the following data concerning a purchase of merchandise by Icon Co. on April 2:

Business
1 answer:
kari74 [83]3 years ago
4 0

Answer:

Correct answer is $4,000

Explanation:

During the purchase on April 2, Icon Co. should recognize the gross amount of $4,000 purchases. Unless it is clearly stated in the problem that Icon Co. uses net method in recording discounts, said discount will be recognized and recorded upon payment of the purchases that falls into the discounted period of contract. Purchase returns will be recognized on the day the company made it.

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Research indicates that 17 percent of consumers recognize the Flatfeet brand of athletic wear. If there are 30,000 consumers in
jenyasd209 [6]

Answer:

5,100 Consumers

Explanation:

The 17% of the total consumer recognize Flatfeet brand which means:

Consumers who recognize Flatfeet = Total Consumers * percentage of people that recognize the brand

Here

Total consumers are 30,000

And

Percentage of people that recognize the brand is 17%

By putting values, we have:

Consumers who recognize Flatfeet Brand = 30,000 * 17%

Consumers who recognize Flatfeet Brand = 5,100 Consumers

3 0
4 years ago
What is the cash flow equation?
aksik [14]
Cash flow=net income+non-cash expenses-increase in working capital.
4 0
3 years ago
Read 2 more answers
When retained earnings are not enough to meet their long-term funding needs, businesses may be able to raise funds by?
sergij07 [2.7K]

When retained earnings are not enough to meet their long-term funding needs, businesses may be able to raise funds by <u>selling common stock</u>. Long-term funding can be defined as any financial tool with maturity going beyond one year (such as bank loans, bonds, leasing and other forms of debt finance), and public and private equity instruments.

<h3>What is a retained earnings?</h3>

Retained earnings are the total of profit an establishment has left over after paying all its direct costs, indirect costs, income taxes and its dividends to shareholders.

Therefore, the correct answer is as given above

learn more about retained earnings: brainly.com/question/25631040

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8 0
2 years ago
Is the type of competition that occurs in a competitive market without identical producers.
amm1812

Answer:

Monopolistic

Explanation:

The type of competition that occurs in a competitive market without identical producers is a monopolistic one.

8 0
3 years ago
Which of the following is a mutually exclusive cost pool used in activity-based cost accounting? a. All of the answers are corre
VikaD [51]

Answer:

The correct answer is A: All of the answer are correct

Explanation:

ABC defines production as consisting of a variety of activities, and it assigns costs to those activities. An activity cost pool is an aggregate of all the costs associated with performing a particular business task, such as making a particular product. By pooling all costs incurred in a particular task, it is simpler to get an accurate estimate of the cost of that task.

Cost pool is created for those costs more closely aligned with the production of goods or services. It is very common to have separate cost pools for each product line. If production batches are of greatly varying lengths, then it has to consider creating cost pools at the batch level, so that it can adequately assign costs based on batch size.

To conclude, the creation of a cost pool and the subsequent assignment of costs will vary according to the length of production and the possibility to discriminate and assign costs.

4 0
3 years ago
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