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3 years ago

How would a sale of $400 of inventory on credit affect the balance sheet if the cost of the inventory sold was $160

Business

1 answer:

dimaraw [331]3 years ago

5 0

Answer:

the journal entries used to record this transaction are:

Dr Accounts receivable 400

Cr Sales revenue 400

Dr Cost of goods sold 160

Cr Inventory 160

This transaction will increase net income, which increases retained earnings by $240. It will also increase assets by $240, since accounts receivable increases by $400, but inventory decreases by $160.

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Head-First Company plans to sell 4,400 bicycle helmets at $78 each in the coming year. Unit variable cost is $45 (includes direc

IgorLugansk [536]

Answer:

Answer for the question

Head-First Company plans to sell 4,400 bicycle helmets at $78 each in the coming year. Unit variable cost is $45 (includes direct materials, direct labor, variable factory overhead, and variable selling expense). Total fixed cost equals $50,300 (includes fixed factory overhead and fixed selling and administrative expense).

Refer to the list below for the exact wording of text items within your income statement.

Amount Descriptions

Operating income

Operating loss

Sales

Total contribution margin

Total fixed expense

Total variable expense

1. Calculate the number of helmets Head-First must sell to earn operating income of $94,900.

helmets:

2. Check your answer by preparing a contribution margin income statement based on the number of units calculated. Refer to the list of Amount Descriptions for the exact wording of text items within your income statement.

Head-First Company

Contribution Margin Income Statement

Based on Helmets Sold

1.Sales

2.Total Revenue Expense

3.Total Contribution margin

4.Total fixed expense 50,300

Is given in the attachment.

Explanation:

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3 years ago

How many career fields are there? A. 6 B. 9 C. 11 D. 17

BlackZzzverrR [31]

The answer is A, there are 6 career fields

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Which of the following is an example of how the principle of beneficence can be applied to a study employing human subjects? Ens

posledela

Answer: Determining that the study has a maximization of benefits and a minimization of risks.

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There are several different traditional organizational designs. Some organizations are small enough that they can utilize a simp

Andrej [43]

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Explanation:

Functional Structure :V.P., Human Resources: Mr. Allen is the top human resources executive.
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In a functional structure organization the grouping is based on the Functional specialization of the individual.

Product division is the division of an organization refers to the division based on the product .Like television department,Washing machine department,Fridge department.

Geographic division refers to division based on the geographic location.

Customer division refers to the commercial division

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