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3 years ago

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1. A return of merchandise to the vendor results in a (A) debit to Purchases. (B) credit to Purchases Returns and Allowances. (C

) credit to Purchases. (D) debit to Purchases Returns and Allowances.

1 answer:

Lyrx [107]3 years ago

3 0

Answer:

Your correct answer ia A. debit to purchases

Explanation:

PLEASE MARK BRAINLIEST!!!

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Sally and Andy are partners in Just Hats, LLC. Andy works in the business for an agreed salary draw of $4,000 per month. Sally h

den301095 [7]

Answer:

Net income allocated to sally is $112000

Explanation:

Sally invested $200000 and Andy invested $100000, which means Andy's investment is half of Sally's investment. So he will receive the half of what Sally will get.

Let

Sally's pay be x

Andy's pay be x/2

Total Net income is 168000 dollars.

So, putting it in an equation, we get

(x+x/2)=168000

x(1+0.5)=168000

x(1.5)=168000

x= 168000/1.5

x=112000

So Sally's share will be $112000

Andy's share will be x/2

=112000/2

=56000

So Andy share will be $56000

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3 years ago

How are prices determined in a free market economy

professor190 [17]

If it’s free then I don’t think they need to determine the price bc it’s free

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3 years ago

Several line items and account titles are listed below. For each, indicate in which of the following financial statement(s) we w

Ainat [17]

Answer:

a. Cash asset - Balance Sheet (BS) and Statement of Cash Flows (SCF)

Cash is recorded as an asset in the balance statement and derived from the statement of cash flows.

b. Expenses - Income statement (IS)

Expenses are deducted from revenue in the income statement to come up with Net Income.

c. Non-cash assets - Balance Sheet (BS)

Non-cash assets are recorded in the balance sheet as all assets are.

d. Contributed capital - Balance Sheet (BS) and Statement of stockholders' equity (SE)

Contributed capital from shareholders will appear in the equity section of the balance sheet and in the statement of equity.

e. Cash outflow for capital expenditures - Statement of Cash Flows (SCF)

This is a Cashflow statement entry under Investing activities.

f. Retained earnings - Balance Sheet (BS) and Statement of stockholders' equity (SE)

Retained earnings will go into the balance sheet and the statement of equity.

g. Cash inflow for stock issued - Statement of Cash Flows (SCF) and Statement of stockholders' equity (SE)

Cash inflow from stock issued will be recorded in the financing section of the cashflow statement as well as in the statement of stockholder equity.

h. Cash outflow for dividends - Statement of Cash Flows (SCF) and Statement of stockholders' equity (SE)

Cash outflow from dividends issued will be recorded in the financing section of the cashflow statement as well as in the statement of stockholder equity.

i. Net income - Income statement (IS), Statement of Cash Flows (SCF) and Statement of stockholders' equity (SE)

Net income is derived from the Income statement and used in the statement of cashflow as well as the equity statement.

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3 years ago

The managers at Fazer Technologies Inc. prepared a report on the profits earned and the losses incurred by the company over the

HACTEHA [7]

Answer:

<u>external report</u>

Explanation:

Note that, the manager prepared a report which he later presented to the stockholders of the company; meaning he gave the report to an outside party.

Remember, external reports are usually given to investors to know the financial condition of the company. Thus, the shareholders would need the report in order evaluate the financial condition of Fazer Technologies Inc.

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Deon is opening a car wash, and he has approached SCORE, an SBA organization that assists small-business owners in setting up th

Marianna [84]

Answer:

A.) Write a business plan

Explanation:

A business plan is a docent that describes nature of the business, growth and sales strategies, and projected profits.

It is a road map that shows how a business will be set up, how it will function to meet set goals, and financial projections that demonstrates the viability of the business idea.

Deon will have to come up with a business plan that summarises his vision of setting up the car wash. On the basis of this SCORE will make a decision about helping him start the company.

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3 years ago