1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
topjm [15]
3 years ago
15

Recording sales, returns, and discounts taken LO P2

Business
1 answer:
Zanzabum3 years ago
7 0

Answer:

Entries are given

Explanation:

We will record assets and expenses on the debit as they increase during the year and will record liabilities and capital on the credit side as they increase during the year or vice versa.

                                       DEBIT        CREDIT

April 01

Account Receivable      $3,800  

Sales                                                 $3,800

Apr - 01

Cost of Goods Sold       $2,280

Merchandise                              $2,280

Apr - 04

Sales Return                    $460  

Account Receivable                           $460

Apr - 04

Merchandise                    $276  

Cost of Goods Sold                             $276

Apr - 08

Account Receivable       $1,400  

Sales                                                     $1,400

Apr - 08

Cost of Goods Sold         $980  

Merchandise                                        $980

Apr - 11

Cash                               $3,340

Account Receivable                             $3,340

You might be interested in
All the occupation are equally important how and why .<br><br><br><br><br> ​
sveticcg [70]

It is true that some jobs require more training and experience than others. Also, that some jobs carry more responsibility, pay more, and have greater status.

But that doesn’t mean one job is more important than another.

In an organization, everyone matters and no one should look down upon someone for the work they are doing.

Remember, every job should be valued. And, every person should be treated with dignity and respect.

6 0
3 years ago
Managers make assumptions in CVP analysis. These assumptions include: (Check all that apply.) Multiple select question. some uni
BigorU [14]

The assumptions that are made in CVP analysis includes the following:

  • costs can be classified as variable or fixed.
  • costs are linear within the relevant range.
  • constant fixed cost per unit.

<h3>What is CVP analysis?</h3>

Cost Volume Profit analysis is the type of analysis that has to do with the cost accounting. This type of analysis is one that takes the impact of the various costs and volume on profit.

It helps to check how the changes that occur in the variable and the fixed cost affect profit.

Read more on CVP analysis here:

brainly.com/question/26654564

#SPJ1

4 0
2 years ago
How does supply and demand affect prices?
irakobra [83]
The higher the supply the lower the price will be and the higher the demand the higher the price will be. This means that they have an inverse relationship. In short, the more you need something the more you're willing to pay for it, and the less you need it the less you want to pay, and this is basically how the economy works when producing and selling.
3 0
3 years ago
Read 2 more answers
Consumer _____ refers to the personal, social, and economic significance of a purchase. Group of answer choices acculturative re
puteri [66]

Answer:

Consumer Involvement

Explanation:

Consumer Involvement refers to the level of importance a consumer places on a purchase. The consumer factors in the personal, social and economic significance of the product before going ahead to make the purchase. The levels of consumer involvement could be of three types, namely; low, medium and high involvement.  

A low involvement purchase is one in which the consumer does not give so much thought to before making the purchase. Example is household products like detergents. Medium Involvement purchase are those in which the consumer puts in some thought before acquisition. An example could be new clothes. High Involvement purchase require considerable thought and research before the purchase is made. An example could be a new car.

3 0
3 years ago
Over the past 4 years, Cardi, age 28, has contributed a total of $20,000 to a Roth IRA. The current balance is $25,000. She was
Juliette [100K]

Answer:

$0

Explanation:

According to the scenario, computation of the given data are as follow:-

Contributed amount = $20,000

Distribution amount = $15,000

As we know,

Taxable amount = Distribution amount - contribution amount

= $15,000 - $20,000

= - $5,000

The contribution amount is $20,000 more than the distribution amount $15,000. So distribution amount is not taxable.

She included $0 amount in her gross income this year.  

 

4 0
4 years ago
Other questions:
  • Wanda is organizing an Employee Appreciation Day event and is soliciting vendors to provide food and drinks. There are 638 emplo
    13·1 answer
  • . Calculating Cost of Preferred Stock: Holdup Bank has an issue of preferred stock with a $3.75 stated dividend that just sold f
    7·1 answer
  • Next week, Mortimer is preparing to go to work for the Illinois department of Child Services. He was surprised when his friends
    6·1 answer
  • Phoebe, a sales representative, is so excited during her sales presentation that she does not hear the customer's question corre
    7·1 answer
  • Hudson Co. reports the contribution margin income statement for 2019.
    13·1 answer
  • Suppose that you are a big fan of the Harry Potter books. You would love to own a copy of the very first printing of the first​
    6·1 answer
  • When a tax is imposed on a good for which the supply is relatively elastic and the demand is relatively inelastic,
    9·1 answer
  • Shawn went to a restaurant where the beer was mediocre and the place was run-down. The restaurant was out of many of its more po
    6·1 answer
  • Harbour Company makes two models of electronic tablets, the Home and the Work. Basic production information follows:
    10·1 answer
  • For the past few months, Denver Framing has experienced high employee turnover. After investigating, human resource manager Kyle
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!