<h3><u>Answer;</u></h3>
credit, debit, and debit, respectively
<h3><u>Explanation</u>;</h3>
Normal balance of sales; Credit
Normal balance of sales discount; Debit
Normal balance of sale returns and allowances; Debit
- A normal balance is the expectation that a particular type of account will have either a debit or a credit balance.
- The normal balance of sales is credit.
- The sales returns and allowances account is subtracted from sales because these accounts have the opposite effect on net income. Therefore, sales returns and allowances is considered a contra‐revenue account, which normally has a debit balance.
- The account Sales Discounts is referred to as a contra-revenue account. Therefore; its is debit balance.
Answer:
The correct answer is $39,062.98.
Explanation:
According to the scenario, the given data are as follows:
Future value (FV) = $85,000
Time period (t) = 12 months × 10 years = 120 months
Interest rate (r) = 0.65% per month
So, we can calculate the present value by using following formula:
Present value = Future Value ( 1 / (1+r))^t
= 85000 × (1 / (1+0.65%))^120
= $39,062.98
Hence the present value that has to be deposit today is $39,062.98
Answer
A) There is a positive relationship between the national debt and a federal government budget deficit.
Answer:
The correct answer is B.
Explanation:
Giving the following information:
Standard quantity= 7.8 grams per unit of output
Standard price= $6.50 per gram.
During the month the company purchased 27,900 grams of the direct material at $6.70 per gram.
To calculate the material price variance, we need to use the following formula:
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (6.5 - 6.7)*27,900
Direct material price variance= $5,580 unfavorable.
It is unfavorable because the actual price was higher than estimated.
