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gizmo_the_mogwai [7]
3 years ago
9

Assume that you are running for president of a local sports club, for which there is another contender. Although you have admini

strative experience in managing sports clubs, the other contender is a professional sportsperson. Most of the club members consist of retired sports personnel, commentators, and sports journalists, most of whom feel that the club lacks the latest equipment, proper restrooms, and secure locker facilities. Write a statement to be emailed to each member, clearly stating what you would do for the club once elected.
Business
1 answer:
Igoryamba3 years ago
6 0

Answer:

Jeepers

Explanation:

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Scott Company had sales of $12,350,000 and related cost of goods sold of $7,500,000. Scott provides customers a refund for any r
maria [59]

The adjusting journal entries to record the adjustments in the books of Scott Company are as follows:

<h3>Journal Entries:</h3>

December 31;

Debit Sales $98,800

Credit Cash Refundable $98,800

  • To record expected cash refunds.

Debit Inventory $48,000

Credit Cost of goods sold $48,000

  • To record expected merchandise returns.

<h3>Data Analysis:</h3>

Sales = $12,350,000

Cost of goods sold = $7,500,000

Estimated percentage refunds = 0.8% of sales

Expected Refunds = $98,800 ($12,350,000 x 0.8%)

Returned goods = $48,000

Sales $98,800

Cash Refundable $98,800

Inventory $48,000

Cost of goods sold $48,000

Learn more about adjusting journal entries at brainly.com/question/13933471

4 0
2 years ago
As Mike says in the video, trainers need to genuinely care about their clients. Ana adds that she learns a lot about people and
Gnesinka [82]

Answer:

Sensation feeling

Explanation:

4 0
3 years ago
Baxter Company reported a net loss of $13,000 for the year ended December 31. During the year, accounts receivable decreased by
stepan [7]

Answer:

a. used net cash of $2,000

Explanation:

The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:

Cash flow from Operating activities - Indirect method

Net loss -$13,000

Adjustment made:

Add : Depreciation expense $4,000

Add: Decrease in accounts receivable $5,000

Less: Increase in inventory -$8,000

Add: Increase in accounts payable $10,000

Total of Adjustments $11,000

Net Cash flow from Operating activities                   -$2,000

6 0
3 years ago
Powers Corporation has provided the following information for its most recent month of operation: sales $16,000; ending inventor
Elza [17]

Answer:

The beginning inventory was  $2000.

Explanation:

First, we need to calculate the Cost of Goods sold. The cost of Goods sold is the difference between the Sales and the gross profit. Thus, the cost of goods sold is 16000 - 10000  =  $6000

The value of the beginning inventory for the period can be calculated by using the Cost of Goods sold formula. The cost of goods sold is calculated as:

Cost of goods sold = Beginning inventory + Purchases - Closing Inventory

Plugging in the available figures in the formula,

6000  =  Beginning Inventory  +  8000  -  4000

6000 = Beginning inventory + 4000

6000 - 4000 = Beginning Inventory

Beginning Inventory = $2000

7 0
3 years ago
Corporate triple A bond interest rates for 12 consecutive months are as follows:
pashok25 [27]

Answer and Explanation:

The answer is attached below

5 0
3 years ago
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