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Oxana [17]
2 years ago
9

For the year ended December​ 31, 2019, Davidson Mart had sales of​ $800,000 and cost of goods sold of​ $600,000. Davidson estima

tes that approximately​ 2% of the merchandise sold will be returned. The adjusting journal entry on December​ 31, 2019, would include a​ _____.
Business
1 answer:
Anit [1.1K]2 years ago
3 0

Answer:

800,000/600,000=1.33

Profit percentage = 1.33-1=0.33=33%

0.02*800,000=16,000 worth of goods returned

Profit= 0.33*16,000=5280

COGS= 16,000-5280=10,720

Adjusting Entry

                                 Debit                  Credit

Goods returned         10,720

Profit                           5,280

Cash                                                    16,000

Explanation:

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2 years ago
Công ty ABC với ngành nghề hoạt động sản xuất, kinh doanh sữa và các sản phẩm từ sữa cũng như thiết bị máy móc liên quan tại Việ
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Ai tl câu hỏi này giùm e vớiqaj

Explanation:

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2 years ago
Global Corporation had 58,000 shares of $20 par value common stock outstanding on July 1. Later that day the board of directors
wolverine [178]

Answer:

Jul-01

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3 years ago
Which is true about the workplace of Construction workers? It can change. It is never outdoors. It can be in an existing buildin
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6 0
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