Answer:
Explanation:
The journal entries are shown below:
1. Purchase A/c Dr $5,400
To Accounts Payable $5,400
(Being merchandise is purchased on credit)
2. Freight-In A/c Dr $500
To Cash A/c $500
(Being freight charges are paid in cash)
3. Accounts Payable A/c Dr $800
To Purchase Returns A/c $800
(Being return merchandise is recorded)
4. Cash A/c Dr $5600
To Sales revenue A/c $5600
(Being merchandise is sold for cash)
5. No journal entry required
<span>There are several reasons that Troy might not be able to take advantage of an offered promotion. First, it could be that he is not able or willing to make the time commitment required by the new position. Second, it could be that Troy does not have the skills required to succeed at the offered position.</span>
Answer:
To estimate the total percentage of total outstanding stocks globally held unhedged on the trading books of top investment bank dealers, is the number of issued shares minus the number of shares held in the banks´ treasury, or the number of stocks outstanding, without considering the float.
Explanation:
The float or stock shares outstanding not held by individuals or associated corporations, percentage of 10% to 20%, is considered low and it means that the amount of available shares is not high. This percentage also gives you the idea on the stocks´ volatility.
Answer:
The correct answer is A.
Explanation:
Giving the following information:
Direct materials= $7.35
Direct labor= $3.55
Variable manufacturing overhead= $1.40
Sales commissions= $1.15
Variable administrative expense= $0.70
The selling price is $27.80
The contribution margin is the result of deducting from the selling price all the variable cost components.
Contribution margin= selling price - (direct material + direct labor + variable overhead + sales comission + variable administrative expense)
Contribution margin= 27.8 - 14.15= $13.65
A financial statements are helpful to the business owner, employees, and investors because:
- It helps to financial plan
- It helps to make decisions
- It helps to adhere to regulations etc
<h3>What are financial statements?</h3>
This refers to those written records that convey the business activities and the financial performance of a company.
Some examples of financial statements in every standard companies includes Income statement, Cash flow statement, Balance sheet, Note to Financial Statements, Statement of change in equity etc.
In conclusion, majority of firm's financial statement are audited by government agencies, accountants, firms to ensure accuracy, tax purpose, financing, investing purposes etc.
Read more about financial statements
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