The answer is seasonal discounts. A seasonal discount is a value incitement that organizations offer clients to make deals out-of-season. In mold, for example, retailers offer rebates for winter garments when spring nears, and they offer lower costs on summer garments amid end-of-summer deals.
Answer: Options B and C
Explanation:
To account for Direct Material Variance for for price and quantity, it is pertinent to note that Unfavorable variances should be recorded as debits while favorable variances should be recorded as credits.
Therefore
If the direct materials price variance is $500 favorable, Then Credit should be made to direct material price variance and
If the direct materials quantity variance is $250 unfavorable, Then a Debit should be made to direct materials quantity variance.
Answer:
$222,664
Explanation:
The cash flow statement categories the company's transactions in a financial period into 3 groups; these are operating, investing and financing.
The net profit/loss, depreciation, changes in current assets (other than cash) and liabilities are considered as operating activities including income taxes.
The sale of assets, interest received, purchase of investments are examples of investing activities while the issuance of stocks, debt principal deduction (loan settlement), issuance of debt securities etc are examples of financing activities.
An increase in assets other than cash is an outflow while an increase in liabilities is an inflow. Depreciation and other non-cash expenses deducted in the income statements are added back while the non-cash income such gain on asset are deducted from net income.
The net cash flow from operating activities
= $245,130 + $20,107 - $14,733 - $29,685 + $3,608 - $5,431 + $3,668
= $222,664
Answer:
any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
Explanation:
IFRS is an acronym for International Financial Reporting Standards, it comprises of a set of accounting standards or rules issued by the International Accounting Standards Board (IASB). The International Financial Reporting Standards ensures that statement of income, when reported by accountants is consistent, transparent and comparable globall
IAS 32 defines a financial instrument as any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
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