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ra1l [238]
3 years ago
6

Negotiated transfer prices

Business
1 answer:
horrorfan [7]3 years ago
6 0
The devision agrees a transfer price between themselves. This price may not reflect opportunity cost by producing and selling products. Reflects bargaining prowess of individual mangers.
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On March 1, Lincoln sold merchandise on account to Pina Colada Company for $29,400, terms 1/10, net 45. On March 6, Pina Colada
dolphi86 [110]

Answer:

The Journal entries with their narration is shown below:-

Explanation:

The Journal entry is shown below:-

1. Account receivable Dr,       $29,400

      To Sales revenue                       $29,400

(Being Sales revenue is recorded)

2. Sales return and allowance Dr,  $2,200

       To Account receivable                    $2,200

(Being Sales return is recorded)

3. Cash Dr,                                   $26,928

($29,400 - $2,200) × 99%

Sales discount Dr,                        $272

         To Account receivable                 $27,200

($29,400 - $2,200)

(Being cash is recorded)

7 0
3 years ago
Selling, general, and administrative expenses were $59,000; net sales were $268,100; interest expense was $6,300; research and d
ozzi

Answer:

$35,800

Explanation:

Gross Profit = Net sales - Cost of goods sold

                   = $268,100 - $145,500

                   = $122,600

Total Operating Expense:

= S, G & A Expenses + R&D expense

= $59,000 + $27,800

= $86,800

Operating Income = Gross Profit - Total Operating Expense

                               = $122,600 - $86,800

                               = $35,800

7 0
3 years ago
What are three conditions for bacteria growth and reproduction ?
Bingel [31]
Temperature, oxygen and food
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3 years ago
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What proportion of all african american adults works at white-collar jobs today?
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<span>Over half of the adults of the African American population have white collar jobs. So, the myth that the majority of African Americans are poor is not true. There are a lot more poor white people in America than African Americans.</span>
5 0
3 years ago
LSM subcontracted with Henry Isaacs Home Remodeling and Repair (Isaacs) to perform the roofing work on the project. Isaacs in tu
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Answer:

1. true

2. true

3. false

4. true

5. false

6 0
3 years ago
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