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Leokris [45]
4 years ago
7

Gershwin Wallcovering Inc. shipped the wrong shade of paint to a customer. The customer agreed to keep the paint upon being offe

red a 15% price reduction. Gershwin would record this reduction by crediting accounts receivable and debiting:
A) Inventory.
B) Sales discounts.
C) Sales.
D) Cost of goods sold
E) None of the above.
Business
1 answer:
ratelena [41]4 years ago
4 0

Answer:

B) Sales discounts.

Explanation:

Sales Discount is a contra revenue account which is adjusted in the sales to calculate the net sales value.

As the following transaction is already been recorded at the time of sale

Dr. Account receivable  xxxx

Cr. Sales                         xxxx

Sales account will not be debited to adjust the transaction. we will record this transaction in sales discount account which will ultimately adjusted.

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The following account balances appear in the 2021 adjusted trial balance of Beavers Corporation: Service Revenue, $245,000; Sala
Radda [10]

Answer:

Explanation:

In the income statement, the total revenues and the total expenses are recorded.  

If the total revenues are more than the total expenditure then the company earns net income

And, If the total revenues are less than the total expenditure then the company have a net loss

This net income or net loss would reflect in the statement of the retained earning account.  

Before preparing the income statement, we have to compute the net income or net loss for the given period which is shown below:

Net income = Service revenue - Salaries Expense - Supplies Expense - Rent Expense - Depreciation Expense - Delivery Expense

= $245,000 - $104,000 - $17,000 - $23,000 - $38,000 - $15,000

= $48,000

The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:

7 0
3 years ago
As part of the overall systems engineering process, there are three software engineering/development approaches. When using the
shusha [124]

When using the Waterfall Approach, development activities are performed in order, with possibly minor overlap, but with little or no iteration between activities.

Explanation:

There is a seamless execution of software operation with perhaps a slight variation, but little or no repetition. User standards are identified, requirements are described and the whole system is designed, intended and tested at one moment in time for ultimate delivery.

A document-based approach better suited to structures of strongly precedent and reliable requirements.

Sometimes referred known as the great linear and sequential model, the waterfall model is also quite linear and sequential for the activity flow in this model, as its title suggests.

4 0
3 years ago
Segmentation based on some observable actions or attitudes by prospective customers, such as what benefits they seek, as well as
ch4aika [34]

Answer:

The correct answer is behavioral segmentation.

Explanation:

Behavioral market segmentation, together with demographic segmentation, geographic segmentation and psychographic segmentation is one of the main techniques of market division. These four market segmentation techniques represent the fundamental tools to support a good marketing and communication plan in the distribution of products and services.

Do not forget that many times, even if we are able to produce or offer a very good product for the audience, if we do not know what is the appropriate message to sell it, we can hardly reach our target audience.

3 0
3 years ago
How does supporting fair trade help consumers?
Soloha48 [4]
Fair trade in smaller territories e.g the carribean islands, support customers in the way that the goods are duty free and exporting and importing is cheaper because no fee is needed for the government of either islands. That's how it works here where I live in the eastern Caribbean.
6 0
3 years ago
Read 2 more answers
Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June Manu
faust18 [17]

Answer:

$187,975

Explanation:

Calculation to determine The cash payments expected for Finch Company in the month of April

Cash Payment= 3/4 *$198,500 (May's manufacturing cost)+1/4 *$156,400 (April's manufacturing cost received in May)

Cash Payment=$148,875+$39,100

Cash Payment=$187,975

The The cash payments expected for Finch Company in the month of April are $187,975

6 0
3 years ago
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