The purchase amount that Icon Co. would record on April 2 would be: <u>c. $4,000</u>.
<h3>What is the purchase amount to be recorded?</h3>
The purchase amount that should be recorded on the date of purchase is the amount of the transaction. This does not take into account the return and discount which happened later.
This implies that Icon Co. will reduce the purchase amount on April 4 when half of the goods were returned with a contra entry. And discount will be based on the balance of $2,000 instead of $4,000.
<h3>Data and Calculations:</h3>
Purchase on April 2 = $4,000
Purchases Return on April 4 = $2,000
Thus, the purchase amount that Icon Co. would record on April 2 would be: <u>c. $4,000</u>.
Learn more about recording credit purchases at brainly.com/question/5651500
Answer:
when you are making your question, their should be a little paper clip looking thing in the bottom corner, click on it and you can add your picture of get a picture form your camera roll, or file on your computer
Explanation:
I hope this helps
False.. It is a fabric with a sheen or a gloss.
Answer:
a. Mild Month MACRS convention applies to the new office building
b. The life of the asset under MACRS is 39 years
c. The cost recovery deduction for 2018 is $20,330
The cost recovery deduction for 2022 is $52,776
Explanation:
a. According to the given data Mild Month MACRS convention is applicable here because real property is placed in service in the middle of the month in which acquired.
b. The life of the asset under MACRS is 39 years
c. cost recovery deduction for 2018= $3,800,000*0.535%
cost recovery deduction for 2018=$20,330
cost recovery deduction for 2022= $3,800,000*2.564%
cost recovery deduction for 2022= $52,776
Answer:
$62, 000
Explanation:
Operating Cash Flow = Operating Income (revenue – cost of sales) + Depreciation
