Answer:
The journal entry for recording the transaction of transfer is shown below:
Explanation:
The journal entry for recording the transaction of transfer is as follows:
Accounts Payable A/c..............................................Dr $12,000
Purchases Returns and Allowances A/c..................Cr $12,000
Being record the transfer of goods which were purchased earlier
When the purchase was made, this would be passed or recorded as:
Purchase A/c.................................................Dr XXXX
Accounts Payable A/c..............................Cr XXXX
Being purchase recorded
So, when some of the purchase is returned, then the accounts payable account is debited against the account of Purchases Returns and Allowances with the amount of purchase return.
Answer:
$0
Explanation:
Under the new IRS regulations applicable since 2018, meals and entertainment expenses are no longer deductible. Until 2017, businesses could deduct up to 50% of the costs of meals and entertainment. A few exceptions still apply but are very specific (e.g.regarding public charities, or company picnics) but none apply to dinners at a nightclub.
Answer: Factor endowments
Explanation:
Factor endowment is amount of land, capital, labor, and entrepreneurship that is possessed by a country and which the country can use for production purpose.
Therefore, Attributes of a company's competitive advantage, including land, capital, technological knowhow, and physical infrastructure, are factor endowments.