All categories

3 years ago

Assume the following data for Casper Company before its year-end adjustments:

Business

1 answer:

Ratling [72]3 years ago

5 0

Answer:

a. Journalize the adjusting entry for the estimated customer allowances.

Dr Sales returns and allowances 10,500
Cr Customer refunds payable 10,500

The adjusting entry should = total sales x estimated percent of returns = $1,750,000 x 0.6% = $10,500

b. Journalize the adjusting entry for the estimated customer returns.

Dr Estimated returns inventory 8,000
Cr Cost of merchandise sold 8,000

This amount is given in the question, $8,000, so you need to record it as a decrease in COGS and an increase in returns inventory.

You might be interested in

What is the process of earning your income sometimes called?

Maurinko [17]

The process of earning your income is called earning a living. It may be because we need different things to live a comfortable life. For these, we need a income first. So by earning income, we are indirectly earning a (comfortable) living.

3 0

3 years ago

Read 2 more answers

Question: According to a Honda press release on October 23, 2006, sales of the fuel-efficient four-cylinder Honda Civic rose by

ELEN [110]

<h2>Answer:</h2><h2>i don't know </h2>

Explanation:

<h2>because im a grade 3 </h2>

8 0

3 years ago

For 2019, Ashley has gross income of $38,350 and a $5,000 long-term capital loss. She claims the standard deduction of $18,350 a

kogti [31]

Answer:

carryover to 2020 = $2000

Explanation:

given data

gross income = $38,350

long-term capital loss = $5,000

standard deduction = $18,350

age = 35 years old

dependent = 2 children

to find out

How much of Ashley $5,000 capital loss carries over to 2020

solution

we know that here for the individual maximum capital loss deduction is

maximum capital loss deduction = $3000 for household

so that carryover to 2020 will be here

carryover to 2020 = 5000 - 3000 = $2000

5 0

3 years ago

Which of the following borrowing purposes will most likely lead to increased earning potential for the individual borrowing mone

bogdanovich [222]

Answer: A.) , D.)

u welcome:)

6 0

3 years ago

Read 2 more answers

Equivalent units of production are equal to the

Evgen [1.6K]

Answer:

a. units completed by a production department in the period.

Explanation:

An equivalent unit of production -

It is the amount of work which is done by the manufactures on the units of the output , which are completed over the specified time period .

It includes the fully completed units as well as the partially completed units .

These equivalent units are useful for the production cost report of the company .

Hence , the correct statement for equivalent unit of production is , ( a ) .

8 0

4 years ago