Answer:
Option (b) is correct.
Explanation:
Given that,
Balances at June 30, the end of the fiscal year:
Sales = $10,800
Sales Returns and Allowances = $400
Sales Discounts = $200
Cost of Goods Sold = $5,000
Net sales for the month:
= Sales - Sales Returns and Allowances - Sales Discounts
= $10,800 - $400 - $200
= $10,200
Therefore, the net sales for the month of June is $10,200.
Answer:
The depreciation expense for year 1 is $16,000
Explanation:
Depreciation: The depreciation was occurred due to tear and wear, obsolesce, time period, etc
Under the straight-line method, the depreciation should be charged with the same amount over the useful life.
The calculation is shown below:
=
=
= $16,000
The depreciation should be charged for $16,000 in year 1. Moreover, it is shown in the income statement in the debit side and in the cash flow statement also.
The physical work effort by an employee at work is called physical labor
The answer is option "a","Express".
An express warranty refers to an agreement that is between the contract seller (merchant, producer or free organization) and the purchaser or buyer of an item to give repair or substitution to secured segments of the item for some predetermined time. An express warranty is a dealer's guarantee or assurance that a purchaser depends on when they buy a thing.
Trial balance is used to see the accurate of the balancing of ledgers. if there is an error in the trial balance a temporary account known as the suspense account can be opened