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Y_Kistochka [10]
2 years ago
13

Warner Corp. sells goods on account for $10,000 on April 2. On April 20, the customer returns $3,000 of the merchandise. The cus

tomer has not yet paid for any of the goods. What is the entry Warner will make on April 20 when the goods are returned?
Business
1 answer:
Studentka2010 [4]2 years ago
6 0

Explanation:

The journal entry are as follows

On April 20

Sales returns A/c Dr $3,000

       To Account receivable A/c $3,000

(Being the sales returned of goods is recorded)

While recording this given transaction, we debited the sales return account and credited the account receivable account so that the proper posting could be done

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Purple Cab Company had 50,000 shares of common stock outstanding on January 1, 2018. On April 1, 2018, the company issued 20,000
Sloan [31]

Answer:

The basic earnings per share is $4.15

Explanation:

Earning Per Share : Earning Per share shows a ratio between net income and weighted average outstanding shares.

In mathematically,

Earning Per Share = Net income ÷ weighted average outstanding shares

where,

Net income = $269,915

And, On Jan 1, 2018 the share is 50,000 whereas on April, 2018 the shares is 20,000. But we have to calculated for the December period. From April to December there are 9 months.

So, April 2018 shares = 20,000 × 9 ÷ 12 months = 15,000 shares

Hence, total weighted average outstanding shares is  

= 50,000 +15,000

= 65,000 shares

Now, apply the above formula for computation

=  $269,915 ÷ 65,000 shares

= $4.15 per share

Thus,  the basic earnings per share is $4.15

5 0
2 years ago
Walton Company has provided the following 2018 data:
timurjin [86]

Answer:

Walton Company

Income Statement

                                   Actual                Budgeted            Variances

Sales                          510,400                 $ 519,000              8,600 U

Variable product costs    183400             188,000                 4,600 F        

Variable selling expense   48100              46,000                  2,100 U

Other variable expenses  5100                  3,300                  1,800 U

Contribution Margin      273,800              281,700              7,900 unfav

Fixed product costs   15460                       15,700                  240 F

Fixed selling expense   22920                   23,400                 480 F

Operating Income      235420                    242,600          7,180  unfav

Other fixed expenses   1460                       1,300                 160 U

Interest expense            710                          800                   90 F      

Net income                 233,250                  240,500           7,250 unfav

We calculate the actual amounts from the budgeted amount by adding the variances when they are unfavorable and subtracting them when they are favorable . But in case of sales this is reversed. The actual sales are calculated by   subtracting unfavorable variance from budgeted sales.

The fav amounts are subtracted from the unfav amounts to get the results .

8,600 u + ( 4,600)F + 2,100 U +1,800= 7,900 unfav

                               

3 0
3 years ago
How old can you be to get your license?<br>A) 16<br>B) 18<br>C) 19 ​
jekas [21]

Answer: 18

Explanation: Legal age to drive

7 0
3 years ago
Read 2 more answers
How are SAE programs expanded and/or diversified?
harkovskaia [24]

Answer:

The SAE programs could be extended even diversified using the following techniques.  

Explanation:

  • Increased self-employment has led to something like the SAE programs.  
  • Rather than growing the breadth of this. The concept seems to be the volume, gross margin, quantity of acres, respectively.  
  • By introducing or growing new goods as well as companies. This would be referred to those as diversification.  
  • Whilst also connecting to the awareness acquired via the SAE programs.
8 0
3 years ago
Emma's property is assessed at $650,000. her property qualified for a $50,000 homestead tax exemption and was appraised at $800,
Rama09 [41]
Emma's taxable property value should be $600,000 since her taxes will be based on the assessment not the appraisal and also because she gets the $50,000 tax reduction so therefore to reiterate she will be taxed on only the $600,000.
6 0
3 years ago
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