Answer:
a. Accounts Payable—Smith Co.; Merchandise Inventory
Explanation:
We assume that Jones Co. purchased merchandise on account.
In order to record the purchase returns we do the following,
Smith Co, debit, since this is a payable account and credit by nature, we debit it to reduce the balance payable amount by the amount of inventory returned.
We also credit out merchandise inventory, since it is reduced and no longer has the returns accumulated.
Option A is the right answer.
Hope that helps.
Answer:
net income = $199,000
Explanation:
In order to calculate net income, we will first start with EBIT or income from operations and then subtract income tax expense, loss from sale of investments and finally income taxes:
- EBIT = $415,000
- Interest expense = $71,000
- Loss from sale of investments = $87,000
- Income tax expense = $58,000
- Net income = $199,000
Answer:
c. Her mortgage payments and necessities are fixed
Explanation:
Discretionary income is the remaining income after being paid out for all fixed expenses (i.e. Discretionary income = Salary - Mortgage - Income tax etc). The primary reason for variability in it is due to the mortgage payment and fixed expenses from the basic salary received.
So, option c is correct while other options are incorrect as tax does not affect as well as cost of living
1 increasing audience
2 payment methods and or growing page
3 yes help others and myself
4 insta due to its growing capacity
It seems that you have missed the given options for this question, but anyway here is the correct answer. The occupation that would be least affected by inflation would be a doctor in private practice. Inflation is defined as a rise in the general level of prices. Hope this is the answer that you are looking for.
