If you damage a house or fence with your car you can cover for the damage under ?

Prepare journal entries for Buffalo to record (1) the sale on March 10, 2020, (2) the return on March 25, 2020, and (3) any adju

Nataly_w [17]

Answer:

1) Debit Account Receivable/Bank Account - Sales Amount

Credit Sales Account - Sales amount

Credit Inventory Account - Cost of the product

Debit Cost of Sales - Cost of the product

2) Debit Sales Account - Sales Amount

Credit Cost of Sales - cost of the product

Credit Account Receivable/ Bank - Refund Amount

Debit Inventory Account- Cost of the product

3)

a)Any increase in returns over estimate

Debit Sales Account - Difference in sales Value

Credit Cost of Sales - Difference in cost of the product

Credit Account Receivable/ Bank - Difference Refund Amount

Debit Inventory Account- Difference in Cost of the product

b) Any Decrease in returns over estimate

Debit Sales Account - Decrease in Sales Amount

Credit Cost of Sales - Decrease in cost of the product

Credit Account Receivable/ Bank - Decrease in refund Amount

Debit Inventory Account- Decrease Cost of the product

Explanation:

8 0

3 years ago

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Explain two factors have affected the organisation of the businesses functional activities

Romashka [77]

Answer:

The two factors that affect the organization of businesses functional activities are ;

Strategy

Technology

Environment

Explanation:

Strategy determines the approach or the course of action to direct the activities of the organization of businesses. Strategy is the innovation room where new approach to solving a problem is discovered and implemented.

Technology; the technology for manufacturing goods and services affect the organization of business functional activities.

4 0

3 years ago

_________ refers to the number of products or services that consumers will purchase at varying cost at a given time.

bulgar [2K]

Demand refers to the number of products or services that consumers will purchase at varying costs at a given time.

<h3>What is a Product?</h3>

A product is referred to as final or finished goods distributed in the market to serve the customers. This product can be both goods and services in which goods are tangible and services are intangible.

Demand is the number of goods or services that customers will buy at various price points at a particular time period. Demand for anything or service indicates that people prefer it and are capable of paying for it based on their needs and desires.

Learn more about a product, here:

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3 0

2 years ago

Lake Power Sports sells jet skis and other powered recreational equipment. Customers pay 1/3 of the sales price of a jet ski whe

vovangra [49]

Answer:

1) In 2010, Lake would recognize realized gross profit of:______.

a) $0.

Revenue for calculating gross profit is only recognized when the cost of goods sold (COGS) has been fully recovered.

2) In 2012, Lake would recognize a realized gross profit of:_______.

c) $450,000.

gross profit related to 2010 sales = $900,000 - $450,000 (remaining COGS) = $450,000

gross profit related to 2011 sales = $900,000 - $900,000 = $0

3) In 2013, Lake would record a lost on repossessions of:______.

c) $200,000.

4) In its December 31, 2011, balance sheet, Lake would report:_______.

b) installment receivables (net) of $900,000.

total installments receivables = $300,000 + $1,000,000 = $1,300,000

remaining COGS from 2011 sales = $400,000

installment receivables (net) = $1,300,000 - $400,000 = $900,000

5 0

3 years ago

A student is setting up an experiment. The student has twenty identical young plants and will try to answer this question: How d

Andre45 [30]

If you give a plant to much water it could cause rotting to the roots and it won’t be able to get the oxygen it needs. The plant will not be able to grow without its healthy roots Causing the plant to stunt its growth.

6 0

3 years ago