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makkiz [27]
3 years ago
11

Journal EntryThe company has an unadjusted debit balance in Accounts Receivable of $25,000 and an unadjusted credit balance of $

10 in Allowance for Sales Discounts as of December 31. Of the $25,000 of receivables, $10,000 are within a 2% discount period that the company expects the buyers to take. Complete the related adjusting entry by selecting the account names and dollar amounts from the drop-down menus.Complete the necessary adjusting entry by selecting the account names and dollar amounts from the drop-down menus. (Pay attention to the date set forth below.)
Business
1 answer:
Mkey [24]3 years ago
3 0

Answer:

Sales Discounts 190 debit

   Allowance for Sales Discounts  190 credit

Explanation:

From the current accounts receivable, the company has 10,000 within discount period and t expect the customer will take them so:

10,000 x 2% = 200 expected discount

currenly the accouting balance for the expected discount is 10 so:

200 - 10 = 190 allowance for sales discounts adjustment.

Remember we do this adjustment to match the expenses or discount withthe period they are generated. Not doing so, will imput discount to the next period for transaction which occurs in the current one.

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For most people, the purchase of a Ford automobile would employ which type of consumer decision making? a.Generic decision makin
sashaice [31]

Answer:

1. B

2. E

Explanation:

1. Consumer or buyers use the extended decision making as it is that decision making which involves high level of the purchase involvement, extensive internal and the extensive information search with complex evaluation of the alternatives. In case of automobiles, buyers will choose the extended decision making as it is expensive, infrequently purchased products.

2. As there is involvement of high risk of financial loss in the future purchasing power, for people or consumer, the automobiles have the situational involvement, it is the short term state which directs towards the attaching relevance of a situation or person. In other words, it is an state where, it establish a level of involvement when a consumer or person think of a specific situation or object.

8 0
3 years ago
A corporation reports the following year-end balance sheet data. The company's debt ratio equals: Cash $ 40,000 Current liabilit
Lady_Fox [76]

Answer:

0.37

Explanation:

The formula to compute the debt ratio is shown below:

= Total liabilities ÷ Total assets

where,

Total liabilities would be

= Current liabilities + Long term liabilities

= $75,000 + $35,000

= $110,000

And, the total assets would be

= $300,00

Now put these values to the above formula  

So, the ratio would equal to

= $110,000 ÷ $300,000

= 0.37

4 0
2 years ago
QUESTION 3 of 10: Generally, budgets are created for:
MrRissso [65]

Answer:

b) One month

Explanation:

6 0
2 years ago
Read 2 more answers
Sunland Corporation has retained earnings of $708,900 on January 1, 2020. Net income during 2020 was $1,663,000, and cash divide
andriy [413]

Answer:

Beginning RE                    708,900

prior period adjustment  <u>    89,470  </u>

adjusted beginning RE     798,370‬

net income                       1,663,000

cash dividends            <u>        (77,800)      </u>

ending RE                         2,383,570‬

Explanation:

The amend of the mistake is done to adjust the beginning retained earnings as it didn't occur in the current accounting cycle.

We have to added as it was posted as an expense something it wasnt Thus, our expense were overstated making a lower net income

then, we proceed normally by adding the net income and decreasing the cash dividends paid to arrive to ending RE

5 0
3 years ago
Which of the following are characteristics of a project team?
finlep [7]

Characteristics of a project team are team meetings happen virtually or face to face.

<h3>Project team: What does that mean?</h3>

A project team or team is described as "an interdependent collection of individuals who work together towards a similar goal and who share responsibility for specific results of their organizations" in a project.

The five jobs that make up a project team—project manager, project team member, project sponsor, executive sponsor, and business analyst—are explained here, along with an explanation of each one's duties. Depending on the situation, a small business might have just one staff that works on many tasks. The group, for instance, might be working on a new product the following day after spending the previous day at a trade fair gathering sales leads.

To know more about project team visit:

brainly.com/question/6225787

#SPJ4

6 0
1 year ago
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