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Sholpan [36]
3 years ago
10

The adjusted trial balance of Cheyenne Company shows the following data pertaining to sales at the end of its fiscal year, Octob

er 31, 2017:
Sales Revenue $728,400, Delivery Expense $12,780, Sales Returns and Allowances $25,320, and Sales Discounts $12,380.

Prepare the revenues section of the income statement.
Business
1 answer:
LenaWriter [7]3 years ago
7 0

Answer:

                                                      <u>Cheyenne Company</u>

                                                       Amount in $                  Amount in $

Sales revenue                                                                        728,400

Less;

Sales Returns and Allowances        25,320

Sales Discounts                                 12,380

                                                                                              <u>    (37,700)</u>  

 Net sales                                                                              <u>  690,700</u>

Explanation:

The revenue section of the income statement shows the computation of the net sales which is the result of the total sales less sales returns, discounts and allowances.

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Which of the following is NOT included in U.S. GDP?
emmainna [20.7K]

Answer:

C) Shoes produced abroad and imported by a U.S. company

Explanation:

The gross domestic product includes the market value of all final and legal goods and services produced within the country during a specific period of time.

Shoes produced abroad and imported into the US are included in the GDP calculations as imports but they decrease net exports. That means they decrease GDP, so they are not included in it.

3 0
3 years ago
Indicate which type of unemployment the following describe.
Mandarinka [93]

Answer:

a. Structural unemployment

b. Seasonal unemployment

c. Cyclical unemployment

d. Seasonal unemployment

Explanation:

The unemployment George is involved in is structural because the perceived value and skills George possess is no more needed in the steel industry where he works and at Chicago land area where he moved to since there are now newer skills that could make work more efficient within the steel firms.

Leo in his case is battling with a seasonal unemployment as there are industries that operates in certain season(Time) of the year and not others. in January, when the winter is intense, construction work might not be feasible due to the high rate of snow fall in the period.  

Kim suffered from a cyclical unemployment because there is a need to prioritize some things above the other due to the recession in the country. people will focus more on how to solve their immediate problem such as putting food on the table and clothe as well as housing, The need for the purchase of computers will drastically drop at this point in time.

Lastly, Becky, a recent graduate from college is also suffering from a seasonal unemployment because of the time she graduated from college.

7 0
3 years ago
A firm has issued cumulative preferred stock with a $100 par value and a 10 percent annual dividend. For the past three years, t
natka813 [3]

Answer:

$30/share

Explanation:

Calculation to determine the amount the preferred stockholders must be paid

First step is to calculate per year dividend using this formula

Per year dividend = Stock value × Dividend payment rate

Let plug in the formula

Per year dividend = $100 × 10%

Per year dividend = $10

Second step is to calculate the Total unpaid dividend using this formula

Total unpaid dividend for 2 years = Per year dividend × 2 year

Let plug in the formula

Total unpaid dividend for 2 years = $10× 2years

Total unpaid dividend for 2 years = $20

Now let calculate the Cumulative Preferred Dividend

Using this formula

Cumulative Preferred Dividend = Current Year Dividend + Total unpaid dividend for 2 years

Let plug in the formula

Cumulative Preferred Dividend = $10 + $20

Cumulative Preferred Dividend = $30

Therefore At the end of the current year, the preferred stockholders must be paid $30/share prior to paying the common stockholders.

3 0
3 years ago
Porter Inc. acquired a machine that cost $367,000 on October 1, 2019. The machine is expected to have a five-year useful life an
pav-90 [236]

Answer:

The answer is "148050 and 246740".

Explanation:

Please find the complete question in the attached file.

for point a:  

Cost 365000  

Less: Salvage value 36000  

Depreciable cost 329000

Divide by Useful life 5

Annual Depreciation 65800

Depreciation expense 65800  

Accumulated Depreciation=(65800\times \frac{1}{4})+65800+65800= 148050

for point b:

Double declining balance rate =\frac{1}{5}\times 2= 40\%

Depreciation for 2019 =365000\times 40\%\times \frac{1}{4}=36500

Depreciation for 2020=(365000-36500)\times 40\%=131400

Depreciation expense for 2021 =(365000-36500-131400)\times 40\%= 78840

Depreciation expense 78840  

Accumulated Depreciation =36500+131400+78840 =246740

7 0
3 years ago
At Walt Disney World, guests staying at The Grand Floridian Resort and Spa find thick white terrycloth robes hanging in the cupb
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Answer:

Most likely detail oriented or less likey outcome oriented, but definitely not the others.

5 0
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