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Dima020 [189]
3 years ago
13

Sunbed Company sells tanning beds that are shipped in large reusable containers. Customers are charged a deposit for each contai

ner delivered and receive a refund when the container is returned. The deposit is three times the actual cost of each container. Deposits are forfeited if containers are not returned within one year. The inventory of containers remains on the companyâs books until deposits are forfeited. Deposits collected on containers delivered during the year were $100,000. Ninety-five percent of the containers were returned within the allotted time.Prepare the appropriate journal entry for the deposits returned to customers. (If no entry is required for a transaction/event, selec No journal entry required" in the first account field.)
Business
1 answer:
kolbaska11 [484]3 years ago
8 0

Answer:

Liability needs to be reduced by cash refunds that are made to customers as and when the containers are returned.

Cash refunds = Deposits collected * Percentage returned

Cash refunds = $100,000 * 95%

Cash refunds = $95,000

Date  General Journal                             Debit         Credit

          Liability - Refundable Deposits  $95,000

                 Cash                                                        $95,000

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2 years ago
What is a philosophy that aggressively seeks to improve product quality by eliminating causes of product defects and making qual
rodikova [14]

Answer:

Business Process Re-engineering is business philosophy that seeks to improve product by eliminating causes of product defects and making quality an all-encompassing organizational watchword.

Hence A is correct

Explanation:

It is an holistic approach to rearranging business and organisation's workflows with a view to identifying sub-optimization and inefficiencies that are deep-rooted in its processes which are cost-consuming but do not add value to business bottom-line(profitability).

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3 0
3 years ago
What is a online profile?<br> 20 pts!!
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8 0
3 years ago
________ is the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering an
inessss [21]

Answer:

D.  Customer-perceived value

Explanation:

Customer-perceived value -

It refers to the method of marketing , where the needs and wishes of the consumers are considered to be very important for the good and services to be successful , is referred to as customer - perceived value .

As when the company creates any product , the likes and dislike of the consumers are always given the priority , in order to get the best results .

Hence , from the given information of the question ,

The correct option is D.  Customer-perceived value .

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3 years ago
Retained earnings balance at the beginning of the year $ 135,000 Cash dividends declared for the year 55,000 Proceeds from the s
olganol [36]

Answer:

$51,200 was the cash dividends paid

Explanation:

Cash dividends paid=opening cash dividends payable +cash dividends declared-closing cash dividends payable

opening cash dividends payable is $27,000

cash dividends declared is $55,000

closing cash dividends payable is $30,800

cash dividends paid =$27,000+$55,000-$30,800=$51,200

The amount of cash transfers made in respect of shareholders dividends in the year is $51,200.

The logic is that the whatever is left unpaid at year end should be deducted from the balance owed year plus the new dividends declared this year

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