Answer:
See the explanation below
Explanation:
In Sheffield Company books:
<u>Details Dr ($) Cr ($)</u>
Merchandise Inventory 850
Accounts Payable 850
<em><u>To record purchase of merchandise inventory on account. </u></em>
In the book of Cheyenne Corp.
<u>Details Dr ($) Cr ($) </u>
Accounts Receivable 850
Sales 850
<em><u>To record the sale of merchandise inventory on account </u></em><em>. </em><u><em> </em></u>
Cost of Goods Sold 500
Merchandise Inventory 500
<em><u>To record the cost of merchandise inventory sold on account </u></em><em>. </em>
Answer:
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Answer:
d.14,249 units
Explanation:
Break-even sales (units) = Fixed Costs ÷ Contribution per unit
Where,
Contribution per unit = Unit Selling Price - Unit Variable Cost
= $106
therefore,
Break-even sales (units) = ($1,464,000 + $46,400) ÷ $106
= 14,249
thus,
the break-even sales (units) if fixed costs are increased by $46,400 is 14,249 units.
Answer:
Accrual basis.
Explanation:
The accrual basis of accounting refers to the accounting method where by revenues are recognized on the profit and loss statement when they are realized and not when the money is received.
Answer:
C. Compensatory damages and consequential damages.
Explanation:
The reason is that the company can only sue Santa for its compensatory damage of paying 15% extra and consequential damages which are only claimable if the party to contract knows that not performing the contract will contribute to consequential damages which are here losses of sales which amount to 25% of sales.
