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
Mekhanik [1.2K]
3 years ago
5

A company had the following partial list of account balances at year-endWhich of the following statements correctly describes th

e effect of recording the collection of a $10,000 account receivable for which a 2% sales discount was recorded at the time of collection?
Business
1 answer:
Jlenok [28]3 years ago
3 0
The $200 sales discount ($10,000 × 2%) reduces net sales and therefore gross profit.

Gross profit will decrease $200
You might be interested in
The _____ of the United States is the Federal Reserve.
SpyIntel [72]
The answer would be A. central bank
4 0
3 years ago
Read 2 more answers
"'Suppose that while in college, you saved money by eating generic fruits and vegetables from the grocery store. Now, suppose th
zysi [14]

Answer:

Normal goods

Explanation:

Normal goods are goods that are goods whose demand increases when income increases and falls when income falls.

I increase my demand for organic fruits and vegetables when my income increased. This shows they are normal goods.

Generic fruits and vegetables are inferior goods.

Inferior goods are goods whose demand falls when income rises and increases when income falls.

I hope my answer helps you

8 0
3 years ago
Labor costs are 30% of sales. Other operating costs are $38,000 per month (including $10,000 of depreciation). Both of these are
Alina [70]

$14,000 rupees will be disbursed totally in march.            

<u>Explanation</u>:

  • The operating cost is $38,000 per month. This is including depreciation. So cash pending on March 1 is $8,000.
  • At the end of March month, the cash balance of $6000 is required. So a total of $14,000 is required at the end of the month. Including the labor costs, he wants to pay $14,000.
  • He can borrow money in multiples of $1000. For emergencies, this money can be borrowed. So $14,000 should be dispersed in the month of March.                        
3 0
3 years ago
Oil creek auto has sales of $3,740, net income of $274, net fixed assets of $2,800, and current assets of $920. the firm has $63
Montano1993 [528]

An income statement that expresses each line item as a percentage of a base amount is known as a common-size income statement

<h3>What is common-size statement?</h3>

An income statement that expresses each line item as a percentage of a base amount is known as a common-size income statement. Typically, this refers to overall earnings or total sales. Financial ratio analysis's objective is comparable to that of a common-size income statement. Items are shown as a percentage of a common base amount, such as total sales revenue, in a financial statement of common size. This kind of financial statement makes it simple to compare one company to another or different time periods within the same company.

The common-size statement refers to expressing each value as a percent of sales:

Sales                 3,340                   100.000%

income                 274                     8.234% (274 divided by 3340 times 100)

fixed assets          2,699               80.809%

current assets         836                25.030%

Inventory               417                0.12485  (417/3,340)

To learn more about common-size statement refer to:

brainly.com/question/14275288

#SPJ4

5 0
2 years ago
Jane Smith lives at home with her parents at 5678 Main Street in Anytown, Missouri, but she has just put in an application for a
WITCHER [35]

Answer: 1, 3 & 4

Explanation: Edg 2020 :)

8 0
3 years ago
Other questions:
  • Dash of Style, a leather products company in the U.S, imported leather goods worth $ 10,000 from China. When the consignment rea
    5·2 answers
  • Based on the real interest rate, who tends to benefit from unanticipated inflation in terms of borrowing and lending?
    8·1 answer
  • If a company owns more than 20% of the stock of another company and the stock is being held as a long-term investment, which met
    10·2 answers
  • Gearjazz, a company that manufactures and sells musical instruments, aims to increase its popularity among music artists and ent
    6·1 answer
  • When economists speak of a deadweight​ loss, they are referring to?
    15·1 answer
  • Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 100,000 shares of $6 par value common stock
    6·1 answer
  • During the month of June, Ace Incorporated purchased goods from two suppliers. The sequence of events was as follows: June 3 Pur
    9·1 answer
  • A course that costs $500 will allow you to get a job that pays $2 more per hour than your current job. How many hours will you n
    14·1 answer
  • The cost of equity is ________. the interest associated with debt the rate of return required by investors to incentivize them t
    6·1 answer
  • What are the three element of business equipment and resource?<br>​
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!