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scoray [572]
3 years ago
5

QS 4-19B Recording estimates of future discounts LO P6 ProBuilder has the following June 30 fiscal-year-end unadjusted balances:

Allowance for Sales Discounts, $0; and Accounts Receivable, $10,200. Of the $10,200 of receivables, $2,100 are within a 3% discount period, meaning that it expects buyers to take $63 in future discounts arising from this period’s sales. a. Prepare the June 30 fiscal-year-end adjusting journal entry for future sales discounts.
Business
1 answer:
erica [24]3 years ago
5 0

Answer:

Dr Sales Discount $63

Cr Allowance for Sales Discount $63

Explanation:

Preparation of the June 30 fiscal-year-end adjusting journal entry for future sales discounts.

Based on the information given the June 30 fiscal-year-end adjusting journal entry for future sales discounts will be:

30-June

Dr Sales Discount $63

Cr Allowance for Sales Discount $63

(3%*$2,100)

(To record future sales discounts)

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Someone please help!!!
Vitek1552 [10]

Answer:

Dollar Tree = $5,643

Target = $11,297

Explanation:

For dollar tree, using the given equation:

13,501 = 7,858 + stockholder's equity

Stockholder's equity = 13,501 - 7,858

= $5,643

For target, using the given equation:

41,290 = 29,993 + stockholder's equity

Stockholder's equity = 41,290 - 29,993

= $11,297

5 0
2 years ago
If the Fed wanted to use all four of its major monetary policy control tools to increase the money supply it would _____.
Georgia [21]

Answer:

sell bonds, increase discount rates and increase reserve requirements

Explanation:

The Federal Reserve’s three instruments of monetary policy are open market operations, the discount rate and reserve requirements ( Sometimes discount rate management is divided as discount and interest rate) .

Open market operations involve the buying and selling of government securities. The term “open market” means that the Fed doesn’t decide on its own which securities dealers it will do business with on a particular day. Rather, the choice emerges from an “open market” in which the various securities dealers that the Fed does business with – the primary dealers – compete on the basis of price. Open market operations are flexible, and thus, the most frequently used tool of monetary policy.

The discount rate is the interest rate charged by Federal Reserve Banks to depository institutions on short-term loans.

Reserve requirements are the portions of deposits that banks must maintain either in their vaults or on deposit at a Federal Reserve Bank.

7 0
3 years ago
Prepaid expenses require what type of adjusting entry?
AleksAgata [21]

Answer:

MATCHED

Explanation:

TOOK THE TEST

"Expenses should be matched with revenues. A deferred expense or prepayment, prepaid expense, is an asset representing cash paid out to a counterpart for goods or services to be received in a later accounting period."

7 0
2 years ago
Based on your knowledge of international trade organizations, answer the following question.
IgorC [24]

Answer:

b. The global financial crisis of 2008 threatened the EU by exposing differences in the economic strength of its member states.

d. The EU introduced the euro, a common currency that facilitates travel, trade, and investment.

Explanation:

Trade of factors and finished goods increased exponentially over the couse of the years after implementing the Euro

This makes possible a lot of new project and investment as it was a strong currency with virtually no risk of devaluation thus, very reliable. In the past, European currency will tend into depreciation and inflation. This doesn't occur with the Euro

Also whe nthe 2008 sub-prime crisis hit we manage to discover the great difference between the central power and the other nations such as ireland, spain, greece and portugal This were called (PIGS)

However is important to notice how Ireland has manage to leave those problem behind with a serious of reform after the crisis.

3 0
2 years ago
Policies based on ABC analysis might include investing __________.A. extra care in forecasting for C items. B. more in supplier
Ilia_Sergeevich [38]

Answer:

Correct option is B

more in supplier development for A items.

Explanation:

In materials management, the ABC analysis is an inventory categorization technique. ABC analysis divides an inventory into three categories—"A items" with very tight control and accurate records, "B items" with less tightly controlled and good records, and "C items" with the simplest controls possible and minimal records.

The ABC analysis provides a mechanism for identifying items that will have a significant impact on overall inventory cost, while also providing a mechanism for identifying different categories of stock that will require different management and controls.

6 0
3 years ago
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