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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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Solartech Corporation, a U.S. exporter, sold a solar heating station to a Japanese customer at a price of 143.5 million yen, whe
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Answer:

$929,404.15 (approx)

Explanation:

The dollar amount actually earned by Solartech after exchanging yen for U.S. dollars :-

= Price ÷ One dollar bought

= 143,500,000  ÷ $154.40 yen

= 143,500,000 ÷ $154.40  yen

= $929,404.15 (approx)

Therefore for computing the dollar amount actually earned by Solartech after exchanging yen for U.S. dollars, we simply divide price by one dollar bought.

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3 years ago
As the hotel industry matures, corporations are either acquiring or merging with each other. This is: A. Safety and security B.
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Answer:

B. Consolidation

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I hope you find this information useful and interesting! Good luck!

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3 years ago
The project management plan is the output of the planning process of project _____. a. scope management b. procurement managemen
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Person status felix is a 42-year-old autoworker who was laid off from his job 6 months ago. he is frustrated with his inability
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3 years ago
The Upjohn Company purchased new packaging equipment with an estimated useful life of five years. The cost of the equipment was
egoroff_w [7]

Answer: a). Straight line method = $10,000. b). Double declining balance method = $20,000.

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3 years ago
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