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Degger [83]
2 years ago
5

If a company employs the gross method of recording accounts receivable from customers, then sales discounts taken should be repo

rted as an item of "other expense" in the income statement. a deduction from sales in the income statement. sales discounts forfeited in the cost of goods sold section of the income statement. a deduction from accounts receivable in determining the accounts receivable amount expected to be collected.
Business
1 answer:
Tpy6a [65]2 years ago
7 0

Answer:

a deduction from sales in the income statement

Explanation:

As we know that the  income statement recognize the expenses incurred and the revenues earned during the particular period of time

As the company applied the gross method so the sales discount should be deducted from the sales amount and are shown on the credit side of the income statement as it is earning for the company and the same is to be credited.

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As a manager at carrel corp., derek spends much of his time coaching young managers and making sure that any required informatio
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Answer:

Derek would be best described as a tactical leader/manager.

Explanation:

A tactical manager makes certain choices and decisions to get the job done as efficiently as possible. Such managers and leaders tend to inspire the employees to encourage them to complete the task. Influencing, negotiating, and motivating employees to succeed are the major characteristics of tactical managers. For e.g. Derek motivates and encourages his subordinates by providing them coaching and making sure that the job is being done properly.

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3 years ago
Carla Vista Company purchases Sandhill Company for $2470000 cash on January 1, 2021. The book value of Sandhill Company’s net as
Nady [450]

Answer: $214000

Explanation:

The amount of goodwill that should be recognized by Carla Vista Company when recording the purchase of Sandhill Company will go thus:

Book value of net assets = $1923000

Add: Excess fair value of tangible asset = $190500

Add: Excess fair value of intangible assets = $142500

Fair value of net assets = $1923000 + $190500 + $142500 = $2256000

Therefore, Goodwill will be:

=Cash paid for purchase - Fair value of net assets

= $2470000 - $2256000

= $214000

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3 years ago
After the computers dns cache is cleared, where will it most likely look to resolve the domain name the next time you enter ceng
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After the computers dns cache is cleared, where it will most likely look to resolve the domain name the next time you enter cengage.com in your browse to The ISP's DNS server.

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The Domain Name System or the DNS is a term that is used for the hierarchical naming system which is used to identify computers through the Internet. Especially through the help of an IP address in short.

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1 year ago
Explain six Differences between private and public company​
elena-s [515]
<h3>Question:</h3>

•explain six Differences between private and public company.

Answer:

•In most cases, a private company is owned by the company's founders, management, or a group of private investors. A public company is a company that has sold all or a portion of itself to the public via an initial public offering.

Explanation:

#Let's Study

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6 0
2 years ago
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