1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
AfilCa [17]
3 years ago
6

Arrow Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit

to their accounts. All of Arrow's sales are for credit (no cash is collected at the time of sale). The company began 2021 with a refund liability of $400,000. During 2021, Arrow sold merchandise on account for $12,000,000. Also during the year, customers returned $520,000 in sales for credit, with $250,000 of those being returns of merchandise sold prior to 2021, and the rest being merchandise sold during 2021. Sales returns, estimated to be 5% of sales, are recorded as an adjusting entry at the end of the year. The amount to adjust the refund liability to its appropriate balance at year-end would be:A. 180,000B. 220,000C. 200,000D. 240,000
Business
1 answer:
soldier1979 [14.2K]3 years ago
3 0

Answer:

C. 200,000

Explanation:

Sales return are 5% of sales meaning gross sales

therefore sales are $12million * 5% =$600,000

therefore adjustment = Closing Balance - opening balance

                                    $600,000-$400,000

                                 = $200,000

You might be interested in
A salesperson's compensation can be made up of some combination of salary, commission, and ________, which are payments made at
murzikaleks [220]

Answer:

"bonuses"

Explanation:

according to my research on the different type of payments that are given to employees, I can say that the answer is "bonuses", because it is the only type of physical payment that is missing from the question. Bonuses are paid to employees when reach a certain milestone or goal that is set by the employer or company, usually used as an employee motivator.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0
4 years ago
Free cash flow is
ki77a [65]

Answer:

The correct answer is letter "E": cash flow from operations less cash used to purchase fixed assets to maintain productive capacity.

Explanation:

Free cash flow or FCF is the money available for investors and creditors after subtracting the operational expenditures and investments from the sales of a company. FCF is not the same as net income because FCF does not include non-cash expenses but FCF considers capital investments and expenses. FCF could reflect more changes compared to the net income.

7 0
4 years ago
The board of directors of a tile manufacturing company meet to discuss the installment of a new high-end machinery. They all agr
olga_2 [115]

When the board of directors thus weigh both the options to see which would cause them less inconvenience, the board of directors face ethical dilemma.

<h3>What is ethical dilemma?</h3>

An ethical dilemma can be regarded as some kind of challenges that the management of an organization do face whenever they involves in decision-making process.

This usually happen when they are found themselves in  between two possible options that requires logical thought to handle.

Learn more about ethical dilemma here:brainly.com/question/3838938

#SPJ1

5 0
2 years ago
A practitioner may perform an agreed-upon procedures engagement on prospective financial statements provided that which of the f
Marat540 [252]

Answer:

Option b is correct

Explanation:

The requirement of this service is to be independently derived because the procedures vary according to needs of the parties involved in the agreement.

6 0
4 years ago
Mara Kay is a system analyst for a national department store. She was tasked to identify previously unknown relationships in the
kherson [118]

Answer: Data Mining

Explanation: Mara Kay tasked with identifying previously unknown relationships in the company's sales data. This is an indication that Mara Kay will be working with pre-existing company data.  

Data Mining can therefore be defined as the examination of large pre-existing databases in order to discover/identify patterns that will be useful in generating new information.

Data Mining is also known as Knowledge Discovery in Databases.

Data Mining will not be complete if the results of the analysis are not used for future purposes, therefore, Mara Kay will use the results of her findings for future promotions.

5 0
4 years ago
Other questions:
  • The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell one widget at the followi
    6·1 answer
  • Maintaining a clean working environment is important to Namco, an industrial parts manufacturer. Cleaning the plant is the respo
    5·1 answer
  • When government spending is increased, the amount of the increase in aggregate demand primarily depends on: 
A. The average prop
    6·1 answer
  • The five basic characteristics of a quality marketing objective is that be
    7·1 answer
  • What is the benefit of using folders while working with files?
    10·2 answers
  • Which property of an object describe how easily electricity travels through it?
    8·1 answer
  • 2. What is dy/dx if y=6x'/12+0.4x<br>​
    12·1 answer
  • Peter, has discovered another wine, wine D. Wine drinkers are willing to pay 45 dollars to drink it right now. The amount that w
    8·1 answer
  • a suburban taxi company is considering buying taxis with diesel engines instead of gasoline engines. the cars average 80000 km a
    15·1 answer
  • A person completes her federal 1040EZ form and sees that she paid total quarterly estimated taxes of $12,000. But the calculatio
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!