Sales returns and allowances are reported on the <u>Income Statement</u>.
<h3>What is the income statement?</h3>
The income statement is a financial statement wherein the sales revenue and cost of goods sold and operating expenses are summarized in order to obtain the net income.
When reporting the sales returns and allowances on the income statement, they are subtracted from the gross sales to arrive at the net sales.
Thus, sales returns and allowances are reported on the <u>Income Statement</u>.
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I believe the depreciation by the units of actual production would be based on the 5000 hours of use in the second year which would be 5000/15,000 or 0.333 x the original value of the machine of $65,000 or for a result of $21,667 depreciation.
<span>keep it small, especially in the beginning
Small businesses die when you expand too quickly in the beginning</span>
Answer:
y
beta
Explanation:
A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.
Opportunity cost of country X in producing alpha = 300 / 100 = 3 units of beta
Opportunity cost of country Y in producing alpha = 200 /100 = 2 units of beta
Y has a comparative advantage in the production of alpha
Opportunity cost of country X in producing beta = 100/ 300 = 0.3
Opportunity cost of country Y in producing beta = 100/200 = 0.5
X has a comparative advantage in the production of BETA
alpha 3 2
Answer:
The answer is C) $64, 300.
Explanation:
basis in a business asset is basically the cost of that asset.
Allison's basis in the asset= $50,000+ $10,000+ $3,000+ $800+ $500 = $64,300.