A, B, and C would best demonstrate the tasks.
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.
Answer:
b. 7.28%
Explanation:
This question is asking for the yield to maturity(YTM) of the bond. You can solve this using a financial calculator with the inputs below. Additionally, adjust the coupon payment(PMT) and time to maturity(N) to semiannual basis.
Time to maturity; N = 5*2 = 10
Face value; FV = 1000
Price of bond; PV = -1071
Semiannual coupon payment; PMT = (9%/2) *1000 = 45
then compute semiannual interest rate; CPT I/Y = 3.64%
Next, convert the semiannual rate to annual rate(YTM) = 3.64% *2
YTM = 7.28%
For the quarter ending December 2021, Woolworths Group's tax rate was 27.15%. See other financial metrics below.
<h3>What is the significance of tax rate?</h3>
Taxation not only pays for public goods and services; it also plays an important role in the social compact that exists between citizens (corporate and individual) and the economy.
The manner in which taxes are collected and spent may define a government's very legitimacy.
When very big corporations such as Woolworth are involved, they are also evaluated on their commitment to tax payment.
<h3>What is the Asset Value of Woolworth Holdings as at December 2021?</h3>
The Asset Value of Woolworth Holdings as at December 2021 was valued at about 59 Billion Dollars. In the same year, it's net income was valued at about 4.2 Billion Dollars.
Her EBDITDA - Earnings before interest, taxes, depreciation, and amortization was computed to have grown by 11.59 Billion dollars.
Hence, this tells us that after satisfying it's corporate fiscal responsibility (tax payment), Woolworth remained profitable. To the tune of 4.2 billion dollars.
Learn more about Financial metrics:
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