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zhuklara [117]
3 years ago
7

Sales mix is the relative combination of:

Business
1 answer:
Jet001 [13]3 years ago
4 0

Answer:

d. Products sold by a firm.

Explanation:

Combination of products sold in relation to total products sold by the firm.

A firm can have any number of products and the proportion of each product in relation to the total number of units sold of all products together is the sales mix. For example a firm with 2 products sells P1 4000 units and P2 6000 units the sales mix then would be P1 40% and P2 60%. Therefor option D) is the right choice and accurate definition of a sales mix.

Hope that helps.

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Prompt<br> Why is it important to eliminate debt as soon as possible?<br> Read More &gt;&gt;
stich3 [128]

Explanation:

You don't make the decisions about your finances until you have an outstanding debt; your creditors do. You determine how much you are charging for charge it. In some situations, you can increase the interest rate and the minimum payment and you can change your spending to suit it for less than two months.

You Should try to clear out the debt as quickly as possible, but not merely because it saves you money. The side effects of debt will influence other crucial aspects of your life so you don't make more profit and get what you want.

You exude confidence, however once you are out of debt. "You are appealing to people,". "And what do you guess? You draw money instead. So get out of your debt then hold out your debt, if you ask me, the quicker the better.

7 0
3 years ago
Read 2 more answers
Income from installment sales of properties included in pretax accounting income in 2021 exceeded that reported for tax purposes
nadya68 [22]

Answer:

1. Taxable income = $76 million

2.  Net income = $65.25 million

3-a. Net current Deferred Tax Asset = $1.95 million

3-b. Net current Deferred Tax Liability = $6.25 million

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question. See the attached pdf file for the complete question.

The explanation of the answers I now provided as follows:

1. Determine the amounts necessary to record income taxes for 2021, and prepare the appropriate journal entry.

1-a. Note: See the attached excel file for the determination of the amounts necessary to record income taxes for 2021 and the taxable income.

From the attached excel file, we have:

Taxable income = $76 million

1-b. The journal entries will look as follows:

<u>Details                                                       Debit ($'m)             Credit ($'m)     </u>

Tax expense (6.75 + 19 - 3)                           22.75

Deferred tax asset (25% * (1 + 13 - 2))             3.00

Deferred tax liability (25% * (7 + 20))                                              6.75

Tax payable (25% * 76)                                                                   19.00

<u><em>(To record tax expense.)                                                                                 </em></u>

2. What is the 2021 net income?

This can be determined as follows:

Net income = Pretax accounting income - Tax expense = $88 million - $ 22.75 million = $65.25 million

3. Show how any deferred tax amounts should be classified and reported in the 2021 balance sheet.

3-a. The deferred tax amounts should be classified as follows.

From installment receivable in point (a) in the question:

Current deferred tax liability in 2022 (25%* ($4  / 2)) = $1

Noncurrent deferred tax liability in 2023 (25%* ($4 / 2)) = $1

From the depreciation in point (c.) in the question:

Noncurrent deferred tax liability (25%* ((24 + 24) - (14 + 7))) = $6.75

From the Warranty Expense/Payable in point (d.) of the question:

Current deferred tax asset (40%* 3) = $1.20

From the Acrrued Expense/Payable in point (e.) of the question:

Current deferred tax asset (25%* 7) = $1.75

Noncurrent deferred tax liability (25% * $6) = $1.50

3-b. These will be reported reported in the 2021 balance sheet as follows:

Sherrod, Inc.,

Balance Sheet (Partial)

As the Year Ended 31 December, 2021

<u>Details                                                                         $'Million    </u>

<u>Assets:</u>

Current Deferred Tax Asset (1.20 + 1.75)                      2.95

Current Deferred Tax Liability                                     <u> -1.00  </u>

Net current Deferred Tax Asset                                <u>   1.95  </u>

<u>Liabilities:</u>

Noncurrent Deferred Tax Asset (A)                              1.50

Noncurrent Deferred Tax Liabiity (1.0 + 6.75) (B)      <u>   7.75  </u>

Net current Deferred Tax Liability (C = B - A)       <u>    6.25   </u>

Download xlsx
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark"> xlsx </span>
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark"> pdf </span>
5 0
3 years ago
Alison's dress shop buys dresses from McGuire Manufacturing. Alison purchased dresses from McGuire on July 17 and received an in
galina1969 [7]

Answer:

c. $6,076

Explanation:

Calculation for what Alison should record the purchase

Purchase=$6,200 ×(100%-2%)

Purchase=$6,200 ×98%

Purchase=$6,076

Therefore if Alison uses the net method to record purchases she should record the purchase at:$6,076

7 0
3 years ago
What is a lease? AA loan from a bank used to buy a house. BA loan from a bank used to rent a home. CA contract outlining the ter
julia-pushkina [17]
Contract outlining the terms under which a landlord agrees to rent property to a tenant :)
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4 years ago
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When the market value of an investment in debt securities in which the company has a positive intent and ability to hold to matu
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Answer:

(D) Carrying amount / Carrying amount

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