Answer:
$91,900
Explanation:
The computation of net sales revenue is shown below:-
Here, for reaching the net sales revenue we add the sales revenue and deduct the sales return and allowances with sales discounts
Net sales revenue = Sales Revenue - Sales Returns and Allowances - Sales Discounts
= $95,000 - $1,000 - $2,100
= $91,900
Therefore we have applied the above formula.
Answer:
C) budget constraint
Explanation:
The budget constraint is a graph of all the combinations of goods and services a consumer can purchase given prices and income of the consumer.
The absolute slope of the budget constraint is the relative price of the two goods represented on the graph.
I hope my answer helps you
Answer:
The answer is: $215,000
Explanation:
Railway Company should include the goods worth $35,000 that Rogers Consignment store has. Once this amount is included, the total inventory for Railway Company should be $215,000 ($180,000 + $35,000).
Merchandise purchased and shipped as FOB destination, belongs to the seller until it has been properly delivered to the buyer. It will increase the inventory once it arrives on January 3.
Answer:
Dr Equipment 62400
Dr Prepaid Insurance 500
Cr Cash 2900
Cr Accounts Payable 60,000
Explanation:
Preparation of the journal entry to Record the above expenditures for the new machine.
Dr Equipment 62400
Dr Prepaid Insurance 500
Cr Cash 2900
Cr Accounts Payable 60,000
(62,400+500-2900)
Equipment:
Purchase price ($55,000) + Sales tax (5,000) + Shipping (800) + Installation (1,600) =
Total cost 62400
Cash:
Shipment of machine (800) + Insurance on the machine ((500)) +Installation of the machine (1,600) = 2900
Financial statements include assets listed at historical costs. Hence, the assets are recorded at their historical cost.
<h3>What do you mean by historical costs?</h3>
The price paid when an asset was purchased is known as the historical cost. On a company's balance sheet, the majority of long-term assets are recorded at their historical cost.
One of the fundamental accounting principles outlined by generally accepted accounting principles is historical cost (GAAP). The use of historical cost is consistent with conservative accounting because it avoids overstating an asset's value.
Hence, Financial statements include assets listed at historical costs. Hence, the assets are recorded at their historical cost.
Learn more about historical costs:
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