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3 years ago

Each time a sale is recorded, two journal entries are also recorded to account for estimated sales returns.

Business

1 answer:

Lemur [1.5K]3 years ago

4 0

Answer:

The given statement is False

Explanation:

The sale is recorded at the time when the company sells is products and services to the customer and for that the journal entry is to be passed

Now if there is a return of goods that are sold by the company to the customers, the journal entry is to be recorded for sales returns

So the entry is recorded for that good only i.e. return

Therefore there is no need to record two entries

Hence, the given statement is false

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Answer:

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Explanation:

Hi, first we need to find the units to reach an operating income = $73,120

Price=72

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With that in mind, let´s formulate the equation

$OperIncome=X(72-44.64)-50,000$

Where:

X= units to sell

everything should look like this

$73,120=X(72-44.64)-50,000$

$\frac{123,120}{(72-44.64)} =X$

$X=4,500$

So, Head First has to sell 4,500 units in order to make that $73,120 operating income mark. Therefore, the sales revenue will be 4,500*$72=$324,000

To check the aswer, please relate to the MS excel spreadsheet attached to this answer.

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3 years ago

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Answer:

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3 years ago

A company pays a constant 6.5 dividend on stock. The dividend will maintain for the next 12 years and cease forever. The require

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Answer:

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Explanation:

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3 years ago

Each time a sale is​ recorded, two journal entries are also recorded to account for estimated sales returns.

Each time a sale is recorded, two journal entries are also recorded to account for estimated sales returns.