Answer:
Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. All of Halifax's sales are for credit (no cash is collected at the time of sale). The company began 2021 with a refund liability of $330,000. During 2021, Halifax sold merchandise on account for $11,800,000. Halifax's merchandise costs is 70% of merchandise selling price. Also during the year, customers returned $345,000 in sales for credit, with $191,000 of those being returns of merchandise sold prior to 2021, and the rest being merchandise sold during 2021. Sales returns, estimated to be 3% of sales, are recorded as an adjusting entry at the end of the year.
Explanation:
Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. All of Halifax's sales are for credit (no cash is collected at the time of sale). The company began 2021 with a refund liability of $330,000. During 2021, Halifax sold merchandise on account for $11,800,000. Halifax's merchandise costs is 70% of merchandise selling price. Also during the year, customers returned $345,000 in sales for credit, with $191,000 of those being returns of merchandise sold prior to 2021, and the rest being merchandise sold during 2021. Sales returns, estimated to be 3% of sales, are recorded as an adjusting entry at the end of the year.
Answer:
Foreign Direct Investment
Explanation:
For an investment to be called a foreign direct investment, a business in one country must purchase a form of controlling ownership in another business which is located in another country. Mergers and acquisitions, opening a new facility in another country, or purchasing properties in another country for the purpose of doing business is called FDI. In the question, America Online purchases office space in India; this is purely an example of Foreign Direct Investment.
<span>The answer is 516,250 by first calculating expenses (6,500,000-40,000-expenses=590,000), net income = revenue-expenses.</span>
Answer:
The answer is: lifestyle segmentation
Explanation:
Lifestyle segmentation refers to the marketing practice of categorizing customers into small groups, and the more information available about the potential customers, then their are divided into smaller sub-groups. These sub-groups are formed using the customers' lifestyles as basis; what do these customers like to do, what they don't like to do, how they live, etc.
Leisure Inc. uses its customers' recreational preferences (part of their lifestyle) to create small sub-groups, e.g. those who like camping, adventure sports, trekking, etc.
Answer:
$0
Explanation:
A student who lives in his parents’ home and being claimed as a dependent by his parent cannot claim any return on tax return for an amount borrowed for higher education expenses or for an interest paid on such loan. This is because, the parents have already claimed as a dependent to reduce their taxable income.
Therefore, Shana will claim $0 because he still lives at home and being claimed by his parents as a dependent to reduce their taxable income.
