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masya89 [10]
3 years ago
6

The amount of earnings distributed to stockholders can be found in the income statement.

Business
1 answer:
evablogger [386]3 years ago
3 0

Answer:

Unearned membership revenue of $9,000

Explanation:

The sales on credit during January 2017 was valued at $12,000 ($200 x 60).

In March 2017, customers paid $3,000, leaving the balance of $9,000 outstanding.

Since the season for which sales and collections were made starts March 1, 2017, when reporting the financial statements for the period ending March 31, 2017, the Membership Revenue would be $3,000 only and the balance $9,000 would be reported as Unearned Membership Revenue in the Balance Sheet with a further $9,000 reported in the Accounts Receivable to balance the records.

This shows that Unearned Membership Revenue of $9,000 is the only valid statement.

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Sampson Co. sold merchandise to Batson Co. on account, $46,000, terms 2/15, net 45. The cost of the merchandise sold is $38,500.
Wewaii [24]

Answer:

Sampson Company

Dr Accounts Receivable -Batson Co.45,080

Cr Sales 45,080

Dr Cost of Merchandise Sold38,500

Cr Merchandise Inventory38,500

Dr Cash 45,080

Cr Accounts Receivable-Batson Co.45,080

Batson Company

Dr Merchandise Inventory45,080

Cr Accounts Payable - Sampson Co.45,080

Dr Accounts Payable -Sampson Co.45,080

Cr Cash45,080

Explanation:

Preparation of the Journal entries for both Sampson and Batson Companies would record

Based on the information given we were told that Sampson Company sold merchandise to Batson Company At the amount of $46,000 with 2/15 term while the merchandise was sold at the amount of $38,500 and since we are Assuming that both of them uses a perpetual inventory system this means the transaction will be recorded as:

Journal Entries for Sampson Company

Dr Accounts Receivable -Batson Co.45,080

Cr Sales 45,080

(2%*46,000=920)

(45,000-920=45,080)

Dr Cost of Merchandise Sold38,500

Cr Merchandise Inventory38,500

Dr Cash 45,080

Cr Accounts Receivable-Batson Co.45,080

Journal Entries for Batson Company

Dr Merchandise Inventory45,080

Cr Accounts Payable - Sampson Co.45,080

(2%*46,000=920)

(45,000-920=45,080)

Dr Accounts Payable -Sampson Co.45,080

Cr Cash45,080

(2%*46,000=920)

(45,000-920=45,080)

6 0
3 years ago
A. medical payment auto 1. covers insured for life; is paid on for a specific-
ivolga24 [154]

Answer:

E. property damage auto 5. pays if insured is at fault and someone else's-  

property is damaged

5 0
3 years ago
Read 2 more answers
Which of the following database object hold data?
natta225 [31]

Answer:reports

Explanation:

6 0
3 years ago
The additional benefit of producing one more roast beef sandwich at a local deli is $2. The additional cost of producing one mor
aivan3 [116]

Answer:

The correct answer is D) "producers should not produce one more roast beef sandwich because MC > MB"

Explanation:

Marginal cost (MC) is the additional cost that you provoke when you add an extra unit of goods or services to your company.

Marginal benefit (MB) is the additional benefit that you receive when you add an extra unit of goods or services to your company.

When:

MC > MB (producers shouldn't produce an additional good or service)

MC < MB (Producers should produce an additional good or service)

4 0
3 years ago
Use your knowledge about the advantages of international trade to complete each sentence. International tradeeconomic growth . I
Hoochie [10]

International trade has been significant for the globalization of free trade relations.

Explanation:

International trade has been responsible for the global economic growth in the 20th and 21st century .

International trade is responsible for the specialization of goods for one country which is at the most advantage for making that particular product while being able to import the others they may need

International trade makes it so that the types of goods and services available around the world can reach any other part of the world.

3 0
3 years ago
Read 2 more answers
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