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
olganol [36]
3 years ago
14

The ledger of Windsor Company at the end of the current year shows Accounts Receivable $149,000, Sales Revenue $853,000, and Sal

es Returns and Allowances $23,000. Journalize the following independent situations.
Business
1 answer:
nadya68 [22]3 years ago
5 0

The sales revenue will be recorded in the comprehensive Income after net of sales return.

The account receivables shows the credit sales made and the amount not recovered till yet from the customers.

Hence sales will come at top of profit and loss.

Sales return will come in noted to the financial statements in sales note.

And account receivables will be shown in balance sheet as current asset.

You might be interested in
The basic purpose of the securities laws in the United States is to regulate the issuance of investment securities by:_____.A. P
geniusboy [140]

Answer:

B. Requiring disclosure of all relevant facts so that investors can make informed decisions.

Explanation:

The Securities and Exchange Commission (SEC) is a governmental agency saddled with the sole responsibility of regulating the securities or capital markets, as well as protecting investors in a country.

In the United States of America, the Securities and Exchange Commission (SEC) as an independent government agency was established under the Securities Act of 1933 and the Securities and Exchange Act of 1934 of the United States of America. It has the power to propose securities rules and regulations, and enforce federal securities law in the securities market.

The basic purpose of the securities laws in the United States is to regulate the issuance of investment securities by requiring disclosure of all relevant facts so that investors can make informed decisions.

Some of the forms to be filled as required by the United States of America, Securities and Exchange Commission (SEC) includes;

1. Form 10-K.

2. Form 10-Q.

3. Form 8-K.

7 0
2 years ago
LO 7.1Which of the following is true in a bottom-up budgeting approach?
Sedbober [7]

Answer:

The correct answer is letter "D": Departments determine their needs and relate them to the overall goals.

Explanation:

The bottom-up budgeting approach consists in giving each department within a firm the power of setting and controlling their budget according to the projects the department intends to develop that matches with the ultimate goal of the organization as a whole. It might be beneficial because each department is likely to come up with a budget that adjusts better to their needs but it could represent a headache for the company when it comes to racking each expense for each area.

6 0
3 years ago
"which always increase(s) as output increases?"
marta [7]

Answer: d. total cost and variable cost

A variable cost<span> is a company expense that changes in parallel with production output. They rise as production increases.</span>

Total cost<span> refers to the total company expense incurred in producing a particular level of output. Same with the variable cost, it increases as production increases.</span>

6 0
3 years ago
The primary difference between the capital adequacy ratio (car) and the leverage ratio (lr) is?
Ainat [17]

The capital adequacy ratio (CAR) calculates a bank's available capital as a proportion of its risk-weighted credit exposures. The capital adequacy ratio, is commonly known as the capital-to-risk weighted assets ratio (CRAR). A leverage ratio is any of a number of financial metrics that examine the amount of capital that is borrowed (loans).

Learn more about capital adequacy Ratio (CAR ) And leverage Ratio (LR) here:

brainly.com/question/16993640

#SPJ4

5 0
1 year ago
Scott Corp. received cash of $20,000 that was included in revenues in its Year 1 financial statements, of which $12,000 will not
Oliga [24]

Answer:

3,000

Explanation:

As the income will be taxed at 25% the income tax liability will be for that amount

12,000 x 25% = 3,000

The tax deferred liability is generated from a temporary difference. The company is paying less income tax today but will pay more in the future. Hence there is a liability.

The accounting reason for this treatment is to match expenses with the time they occur or the revenues which generated.

6 0
3 years ago
Other questions:
  • The controller compares the bank deposit to the journal entry for cash receipts to ensure that the bank deposit matches the acco
    6·1 answer
  • If franco's pizza parlor knows that the marginal cost of the 500th pizza is $3.50 and that the average total cost of making 499
    15·1 answer
  • Which of the following steps, if taken by Walmart, would be characterized as a strategic, rather than tactical, action? a. Aggre
    13·1 answer
  • On September 11, 2016, Home Store sells a mower for $590 with a one-year warranty that covers parts. Warranty expense is estimat
    13·2 answers
  • At the beginning of the year, Young Company bought three used machines from Vince, Inc. The machines immediately were overhauled
    13·1 answer
  • Charles Underwood Agency Inc.’s FCFs are expected to grow at a constant rate of 3.90% per year in the future. The market value o
    10·1 answer
  • Which one of the following statements related to the internal rate of return (IRR) is correct? Multiple Choice Financing type pr
    11·1 answer
  • A bond that pays interest semiannually has a coupon rate of 5.44 percent and a current yield of 4.91 percent. The par value is $
    13·1 answer
  • Question 10 (5 points)
    10·1 answer
  • Ronnie operates a lawn-care service. On each day, the cost of mowing the first lawn is $15, the cost of mowing the second lawn i
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!