Answer:
The journal entries are as follows:
(a) On July 16,
Account receivable A/c Dr. $1,200
To sales revenue $1,200
(To record Sales)
Cost of goods sold A/c Dr. $720
To Inventory $720
(To record cost of goods sold)
(b) On July 19,
Sales return and allowance a/c Dr. $200
To Account receivable $200
(To record sales return)
Inventory A/c Dr. $120
To Cost of goods sold $120
(To record cost of goods return)
(c) On July 22,
Cash (1,000 × 98%) A/c Dr. $980
Sales discount A/c Dr. $20
To Account receivable $1,000
(To record amount received)
Answer:
Performance Management
Explanation:
The continuous cycle of improving job performance through defining performance, monitoring and evaluating performance, reviewing performance, and providing consequences is known as Performance Management
Performance Management process is a systematic process of managing and monitoring the <u>employee's performance against their key performance parameters or goals.</u> It is regarded as a process for driving the individual and organizational performance management, and is termed as a <u>continuous process</u> in organization.
Answer:
0.33 inelastic
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
10% / 30% = 0.33
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
.
Answer:
The causes of depreciation are: Wear and tear. Any asset will gradually break down over a certain usage period, as parts wear out and need to be replaced. Other assets, such as buildings, can be repaired and upgraded for long periods of time. Non-current assets are usually valued by deducting the accumulated depreciation from the original purchase cost. For example, if a business bought a computer for $2100 two years ago, this is a non-current asset and it's subject to depreciation.
Explanation: