1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
weeeeeb [17]
3 years ago
9

After making a sale, a seller may have customers that return goods. The seller uses the perpetual inventory system. This require

s the seller to _____.
A. reduce sales and cost of goods sold for the period
B. use historical data to record sales revenue in the amount that is expected to be received
C. record two adjusting entries to account for the estimated returns
D. All of the statements are correct.
Business
1 answer:
anyanavicka [17]3 years ago
7 0

Answer:

D. All of the statements are correct.

Explanation:

The Seller requires to

Reduce its sales by the estimated return value and cost of goods sold by the estimated cost value of the units expected to return in the future.

Use historical data of sales and returns and calculate the value of expected return items.

After the estimation of values record the adjusting transaction for the estimated return liability and the inventory to be returna as well.

You might be interested in
Would it be advantageous for wynn manufacturing corporation if the cranston division makes the investment under consideration?
11111nata11111 [884]

Yes, It would be advantageous for wynn manufacturing corporation if the cranston division makes the investment under consideration.

  • Since managers are charged with maximizing the potential of their own units, it is crucial to frequently assess their performance in the workplace.
  • Target measurements can be used to assess managers of investment centers' performance.
  • Businesses typically have a target or targeted rate of return they would like to reach in order to assess a project's viability.
  • It is profitable for the firm as a whole to move forward with the project in this case because the project's projected return of 18% is higher than the company's desired rate of return of 16%.

To learn more about investment visit:

brainly.com/question/15105766

#SPJ4

4 0
2 years ago
The cash account shows a balance of $42,000 before reconciliation. The bank statement does not include a deposit of $9,200 made
Keith_Richards [23]

Answer:

$45,473

Explanation:

Base on the scenario been described in the question, we can use this method to solve the problem.

Solution:

$42,000 + $4,960 – $1,100 – ($1,830 – $1,380) + ($381 – $318)

= $46,960- $,1,100-$450-$63

=$45,473

As our answer

8 0
3 years ago
You have saved​ $120,000 for your child to attend college. If it is in an account earning an annual rate of​ 8%, how much can yo
harkovskaia [24]

Answer:

I will take $36,230.5 to pay for the education of child.

Explanation:

Cash Invested in the saving account will earn a return of 8% each year and this amount could be withdrawn by the me to pay for the education of child.

We will use following formula to calculate the annual payments

P = r ( PV ) /  [ 1 - ( 1+ r )^-n ]

where

PV = amount of investment = $120,000

r = rate of return = 8%

n = number of period = 4 years

P = 8% ( 120,000 ) / [ 1 - ( 1 + 0.08 )^-4 ]

P = 36,230.5

3 0
3 years ago
Consumers' differing tastes are one reason why monopolistic:____.
ikadub [295]

Answer:

d) competitors are similar to monopolists.

Explanation:

Monopolistic competition refers to a condition of the market in which it connects with various irms that are closely linked to each other but sell distinct products.

Also, there is free entry and exit in this market

In case when consumer taste and preferences are different so the monopolistic competitors are the same as the monopolist

hence, the correct option is d.

5 0
3 years ago
Goodwill is: Group of answer choices Amortized over the greater of its estimated life or forty years. Only recorded by the selle
Tems11 [23]

Explanation:

Goodwill in accounting is an intangible asset that arises when a buyer acquires an existing business. Goodwill represents assets that are not separately identifiable. Goodwill does not include identifiable assets that are capable of being separated or divided from the entity and sold, transferred, licensed, rented, or exchanged, either individually or together with a related contract, identifiable asset, or liability regardless of whether the entity intends to do so. Goodwill also does not include contractual or other legal rights regardless of whether those are transferable or separable from the entity or other rights and obligations. Goodwill is also only acquired through an acquisition; it cannot be self-created. Examples of identifiable assets that are goodwill include a company’s brand name, customer relationships, artistic intangible assets, and any patents or proprietary technology. The goodwill amounts to the excess of the "purchase consideration" (the money paid to purchase the asset or business) over the net value of the assets minus liabilities. It is classified as an intangible asset on the balance sheet, since it can neither be seen nor touched. Under US GAAP and IFRS, goodwill is never amortized, because it is considered to have an indefinite useful life. Instead, management is responsible for valuing goodwill every year and to determine if an impairment is required. If the fair market value goes below historical cost (what goodwill was purchased for), an impairment must be recorded to bring it down to its fair market value. However, an increase in the fair market value would not be accounted for in the financial statements. Private companies in the United States, however, may elect to amortize goodwill over a period of ten years or less under an accounting alternative from the Private Company Council of the FASB.

8 0
3 years ago
Other questions:
  • What are the four main types of Permission Sets in ePO?
    14·1 answer
  • "what is the goal of testing an application before it is put into production"
    13·1 answer
  • Rising unemployment levels tend to stifle demand for goods and services, which can have the effect of forcing prices downward is
    13·1 answer
  • A company has employed two workers A and B whose productivities are 20 units and 15 units respectively. The wage for A is K12 wh
    15·1 answer
  • What transactions that are include in sales and sales return journal?
    5·1 answer
  • Which of the following is NOT a creative thinking exercise entrepreneurs use to generate ideas?
    10·1 answer
  • Amber, a district manager for a large restaurant chain, is comparing the goals of her restaurants with recent sales. She knows t
    12·1 answer
  • Darryl, a cash basis taxpayer, gave 1,000 shares of Copper Company common stock to his daughter on September 29, 2020. Copper Co
    7·1 answer
  • Which of the following is least likely to be a theme in a novel about young people going to war?
    5·1 answer
  • Chris purchased a new piece of equipment to be used in its new facility. The $410,000 piece of equipment was purchased with a $6
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!