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
victus00 [196]
2 years ago
12

The adjusted trial balance of Sunland Company shows these data pertaining to sales at the end of its fiscal year, October 31, 20

22: Sales Revenue $903,400; Freight-Out $13,700; Sales Returns and Allowances $22,000; and Sales Discounts $15,400. Prepare the sales section of the income statement.
Business
1 answer:
sveta [45]2 years ago
7 0

Answer and Explanation:

The preparation of the sales section of the income statement is presented below:

<u>Income Statement </u>

<u>For the year ended </u>

Sales  

Sales revenue  $903,400

Less:  

Sales Discount  $15,400  

Sales return & allowances  $22,000  

Net Sales         $866,000

hence the net sales is $866,000

The freight out would not be considered. Hence, ignored it

You might be interested in
Demand for walnut fudge ice cream at the Sweet Cream Dairy averages 5.9 gallons per day. The dairy uses a continuous review (reo
RSB [31]

The optimal reorder point of Sweet Cream Dairy is 27.71 or 28 (rounded off)  and Safety stock is 15. 91  or 16 gallons (rounded off)

Explanation:

the reorder point is to multiply the average daily usage rate for an inventory item by the lead time in days to replenish it.

The safety stock formula with standard deviation is more complicated but also more accurate.

Safety stock = desired service level × standard deviation of lead time × demand average

Safety stock = ( 93÷100) ×  2.9 × 5.9 =  15. 91  or 16 gallons (rounded off)  

Safety stock = ( 93÷100) ×  2.9 × 5.9 =  15. 91  or 16 gallons (rounded off)

Reorder Point = (Average Daily Usage x Average Lead Time in Days) + Safety Stock  

= (5.9 x 2) + 15. 91 = 11.8 + 15.91 = 27.71 or 28 (rounded off)

= (5.9 x 2) + 15. 91 = 11.8 + 15.91 = 27.71 or 28 (rounded off)

7 0
2 years ago
A checking account is sometimes called a..
asambeis [7]
B
a demand deposit lets you withdraw money without advice notice 
6 0
3 years ago
Read 2 more answers
During a certain six-year period, the consumer price index (CPI) increased by 50%, but during the next sis-year period, it incre
liberstina [14]

Answer:

D. Deflation

Explanation:

"Consumer Price Index" <em>(CPI)</em> measures the changes in the weighted average of prices of a market basket (consisting of consumer goods and services). It tells the<u> cost of living for every consumer. </u>

"Inflation" refers to the sustained increase of prices of goods and services while "deflation" refers to the sustained decrease of prices of goods and services.

In the situation above, the CPI is considered lower than before, thus <u>deflation</u> must have occurred during the second six-year period. It shows a <u>negative inflation rate.</u>

So, this explains the answer.

7 0
3 years ago
Melissa is a self-employed lawyer who chooses a higher-priced restaurant 2 miles from home over a cheaper restaurant 15 miles fr
kiruha [24]

Answer:

Option (E) is correct.

Explanation:

The opportunity cost refers to the benefits that are sacrificed by choosing some other alternative.

In our case, there are two restaurants as follows:

One is 2 miles away from home with higher prices

Second one is 15 miles away from home with lower prices

But Melissa chooses the first one by comparing the opportunity cost associated with each option relative to the other option.

This is because of the higher opportunity cost associated with second restaurant offsets the higher monetary cost of the first restaurant.

4 0
3 years ago
Which of the following condition will both consumers and sellers benefit?
victus00 [196]
Answer: Option C) When supply equals demand.

The most common supply curve decreases with price. The most common demand curve increases with price. The point at which supply and demand curves intercept each other is the equilibrium point. At that point (equilibrium), there are consumers who are paying less than what they are willing to pay (generating a consumer surplus) and there are producers who are selling at a price that is higher than what they are willing to receive (generating a producer surplus), then both consumer and producers benefit.
5 0
3 years ago
Other questions:
  • To enable remarketing in google analytics, what must first be enabled?
    14·1 answer
  • Bau Long-Haul, Inc., is considering the purchase of a tractor-trailer that would cost $283,215, would have a useful life of 7 ye
    8·1 answer
  • As time goes on and stresses increase, marital satisfaction goes down. For many couples, the reason for this drop is having chil
    11·1 answer
  • Which of the following would result if the business purchased supplies on credit? A)Supplies would increase, and Cash would decr
    8·1 answer
  • Bridgeport Corporation's weekly payroll of $16,000 included FICA taxes withheld of $1,224, federal taxes withheld of $3,250, sta
    14·1 answer
  • Waterway Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethan
    12·1 answer
  • The trial balance columns of the worksheet for Flint at March 31, 2019, are as follows.
    6·1 answer
  • Escareno Corporation has provided its contribution format income statement for June. The company produces and sells a single pro
    8·1 answer
  • What economic goal does the Securities and Exchange Commission (SEC) help the government achieve the most
    12·1 answer
  • From the buyers point of view the best quality is
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!