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kirill [66]
2 years ago
7

Samantha Rose Inc. made a $25,000 sale on account with the following terms: 1/15, n/30. If the company uses the net method to re

cord sales made on credit, how much should be recorded as revenue
Business
1 answer:
harkovskaia [24]2 years ago
7 0

Answer:

$24,750

Explanation:

The computation of the amount that should be recorded is shown below"

Sales on account = $25,000

Credit term = 1/15, n/30

Sales discount rate = 1%

Now  

Sales discount = Sales on account × Sales discount rate

= 25,000 × 1%

= $250

So,

Net sales = Sales- Sales discount

= $25,000 - $250

= $24,750

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Answer:

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4 0
2 years ago
Sandy earned a salary of $50,000 last year. Her parents gave her a car valued at $23,000 for her birthday. In addition, she earn
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Answer:

$51,200

Explanation:

Gross income computation includes all forms of income such as wages, rents, royalties, dividend etc. However, gifts and inheritances are not considered as a part of the gross income.

Therefore, Sandy's gross income consist of her salary, and the interest income

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5 0
3 years ago
XYZ Company makes 400 widgets. The variable costs are $35.60 per unit and fixed costs are $30.00 per unit; however, $21.40 in fi
Anuta_ua [19.1K]

Answer:

increase in income  of $80

Explanation:

Prepare an Analysis of Costs and Savings if the Company buys from Outside Supplier.

Note : The  fixed costs per unit at are unavoidable are irrelevant and disregarded in this decision.

<u>Analysis of Costs and Savings</u>

Purchase Price (400 widgets × $44.00)  =    ($17,600)

Savings :

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Net Income effect                                      =           $80

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The effect on net income if the company instead buys the widgets is an increase in  income  of $80

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