Answer:
b. a discount.
Explanation:
A reduction from the list price that a seller gives a buyer as a reward for some activity of the buyer that is favorable to the seller is called __a discount._______.
Answer:
A change in the depreciation method is not a change of accounting policies. Therefore, this change will not require any retrospective journal entry for 2018. Changes in depreciation methods are prospective, meaning that they affect future values, not past values. This is considered a change in an accounting estimate.
Explanation:
Answer:
Date Account, title and description debit credit
June 3 Merchandise inventory 3,985
Accounts payable 3,985
Merchandise purchased on account
from JVC Co.
June 9 Merchandise inventory 2,300
Accounts payable 2,300
Merchandise purchased on account
from Prime Target, terms 2/10, n/30
June 12 Store supplies 675
Accounts payable 675
Merchandise purchased on account
from Craft Shop
June 13 Accounts payable 3,985
Cash 3,985
Paid for June 3 purchase of
merchandise from JVC Co.
June 19 Accounts payable 2,300
Cash 2,254
Purchase discounts 46
Paid for June 9 purchase of
merchandise from Prime Target and
obtained a 2% discount
Answer:
$7.2 million
Explanation:
Calculation for the amount of warranty expense on Angel's 2016 income statement
Using this formula
Warranty expense =Net sales ×Expected percentage of net sales
Let plug in the formula
Warranty expense=$180 million×4%
Warranty expense=$7.2 million
Therefore the amount of warranty expense on Angel's 2016 income statement will be $7.2 million
