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Scorpion4ik [409]
3 years ago
14

The Sales Returns and Allowances account is on the income statement as an addition to Sales. presented on the balance sheet as a

deduction from Accounts Receivable. on the income statement as a deduction from Sales. on the balance sheet as a deduction from Capital.
Business
1 answer:
fenix001 [56]3 years ago
5 0

Answer:

The Sales Returns and Allowances account is on the income statement as a deduction from Sales.

Explanation:

Sales Returns and Allowance account represent the balance of all sales that have been returned by the customers for any reason and discounts given to the customers. It is a contra sales account. It is presented on the income statement only as a deduction from sales. It is not presented on balance sheet. So, the correct option is on the income statement as a deduction from Sales.

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Which of the following statements is not true concerning Peter Jackson's use of computer-generated imagery in The Lord of the Ri
Sonbull [250]

Answer:

c

Explanation:

I believe its C due to the fact. stunt doubles are actual individuals. or they would just have the actor be edited instead of placing a digital stunt double.

6 0
3 years ago
Challenge Tennis​ & Recreation's operating activities for the year are listed below. Purchases ​$174 comma 800 Operating exp
makkiz [27]

Answer:

The answer is $169,400

Explanation:

Gross profit is a line item under income statement and it is the difference between net sales(revenue) and cost of sales. It is a measure of profitability ( net sales - cost of sales?

Cost of sales = beginning Inventory + purchases - ending Inventory

$27,600 + $174,800 - $37,800

$164,600.

Now, cost of sales is: ( net sales - cost of sales)

$334,000 - $163,800

=$169,400

6 0
3 years ago
Dyckman Dealers has an investment in Thomas Corporation bonds that Dyckman accounts for as a trading security. Thomas Corporatio
gtnhenbr [62]

Answer:

$20,000

Explanation:

The small investment in equities and bonds must be valued at market value and must not be accounted for in-accordance with the speculation of the company. So the market value here is $20,000 and must be valued at this price irrespective of the management valuation.

5 0
3 years ago
"Stock R has a beta of 1.5, Stock S has a beta of 0.75, the required return on an average stock is 10%, and the risk-free rate o
Kaylis [27]

Answer:

4.5%

Explanation:

Stock R (Beta) = 1.5

Stock S  (Beta) = 0.75

Expected rate of return on an average stock (Rm)= 10%

Risk free rate (Rf) = 4%

Required Return (Re) = Rf +(Rm-Rf) B

Required Return = 0.04 + (0.10-0.04) B

Required Return = 0.04 + 0.06B

Stock R = 0.04 + (0.06 * 1.50)

Stock R = 0.04 + 0.09

Stock R = 0.13

Stock R = 13%

Stock S = 0.04 + (0.06 * 0.75)

Stock S = 0.04 + 0.045

Stock S = 0.085

Stock S = 8.5%

Here, the more risky stock is R and less risky stock is S. Since, R has more beta than the Stock S.

= 13% - 8.5%

= 4.5%

7 0
3 years ago
Stutz, Inc. designs and builds basketball gymnasiums. Each gymnasium is custom-built to individual customers’ specifications. St
Volgvan

Answer:

$307,300

Explanation:

Total cost of Job 179:

= Direct material for Job 179 + Direct labor cost for Job 179 + Overhead cost for Job 179

= $30,500 + $45,000 + (2,000 × $25)

= $30,500 + $45,000 + $50,000

= $125,500

Total cost of Job 177 and Job 179:

= Total cost of Job 179 + cost of Job 177

= $125,500 + $94,000

= $219,500

Sales revenue for February:

= Total cost of Job 177 and Job 179 × Markup percentage

=  $219,500 + ($219,500 × 40%)

= $219,500 + $87,800

= $307,300

6 0
3 years ago
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