Do you have answer choices?
beacause there are multiple sites out there :)
Answer:
E) None of the above
Explanation:
In partnership, the partners earn profit. The salary allowances are considered as though paid to a third party and are considered before arriving at the net income.
As such, given that net income is $30,000 and is to be shared in the ratio 80:20 between Gary and Elaine respectively.
Elaine's share = (20/100) × $30,000
= $6,000
Answer:
a. Journalize the adjusting entry for the estimated customer allowances.
- Dr Sales returns and allowances 10,500
- Cr Customer refunds payable 10,500
The adjusting entry should = total sales x estimated percent of returns = $1,750,000 x 0.6% = $10,500
b. Journalize the adjusting entry for the estimated customer returns.
- Dr Estimated returns inventory 8,000
- Cr Cost of merchandise sold 8,000
This amount is given in the question, $8,000, so you need to record it as a decrease in COGS and an increase in returns inventory.
The trading bloc consisting of 28 trading partners in Europe is the EUROPEAN UNION. European Union is a political and economic alliance among 28 countries members that located primarily in Europe. Some of the members are: Germany, Poland, Italy, United Kingdom, France, Belgium, Netherlands, etc.
Answer:
Brandon needs to compare his salary to other employees of the company, he needs to pay special attention if:
- If the supervisors from other departments or units of the same company earn more than Brandon.
- If his own staff members earn a salary that is very similar to Brandon's.
- If his immediate superior earns a salary that is disproportionately higher than Brandon's.