Answer:
Take your gross sales revenue for the accounting period and subtract discounts, allowances and returns. This gives you net sales. Subtract the cost of goods sold from net sales and you get gross profit. In some cases, this might be a gross loss
Answer:
B. the decline in market value of plant and equipment is determined and recorded
- <u>Depretiation is a measure of how much value our plant and equipement does loose because of use and the pass of the time. </u>
- If depretiation would not exist, we would register the value of plant and equipment as if they worth the same they did when they were bought, wich would be not real.
- As an example, think about an oven in a bakery after using for some years: it is not in the same conditions that it was when new. This lost in the value of the goods (because of usage in this case), is what depretiations tries to account.
Answer:
The role that financial intermediaries play in that diagram of the economy is to leakage or inject money.
Explanation:
To begin with, the concept known as "Circular Flow of Income" refers to a model that is famously known in the economics sciences due to the fact that it is a graphic that shows how the primary entities of the economy of a country interact with each other in order to have a particular outcome expected in the diagram. Therefore that in that context, the financial institutions play the role of intermediaries inside the flow meaning that the can they can either leakage or inject money to the flow. The first one they do it by helping the households to save money in accounts. And the second one they do it by helping the private sector in terms of investing regarding businesses.
I believe the answer is: Sociability
Sociability refers to how good a person skills in interacting/communicating with other people. In business environment, sociability is seen as a massive asset since it could improve your work efficiency with your team along with increasing your chance of obtaining a good business opportunities through networking.
Answer:
$490,000
Explanation:
The computation of the bad debt expense is shown below:
= Account receivable + (Gross Accounts receivable × estimated percentage given ) - (credit balance of Allowance for Doubtful Accounts)
= $650,000 + ($18,000,000 × 2%) - ($520,000)
= $650,000 + $360,000 - $520,000
= $490,000
We simply added the estimated amount and deduct the credit balance to the account receivable so that the accurate amount can come
