Answer:
The Journal entries are as follows:
(i) On April 6,
Cash A/c Dr. $5,000
To Sales $5,000
(To record the cash sales )
(ii) On April 6,
Cost of goods sold A/c Dr. $3,000
To merchandise inventory $3,000
(To record the cost of goods sold)
(iii) On April 12,
Sales return and Allowances A/c Dr. $630
To cash $630
(To record the sales return)
(iv) On April 12,
merchandise inventory A/c[(630 ÷ 5,000) × 3,000] Dr. $378
To cost of goods sold $378
(To record the cost of sales return and allowances
When working with international firms, U.S businesses expect socially responsible behavior from their business partners.
<h3><u>Why do U.S businesses increasingly focus on international businesses?</u></h3>
American businesses are aware that doing business abroad will boost productivity and broaden their population, which will promote economic expansion. Since the beginning of time, there have been numerous international exchanges, and American businesses now recognize the advantages of offering their services abroad.
To cut costs, some US companies relocate abroad. To grow their business, other companies venture abroad. Many companies can successfully operate on a global scale.
You can learn more about international business using this link:
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<em />I think it is C but don't quote me on it.
Answer:
The journal entries to record both transactions should be:
February 1, 2018, repurchase of 1,000 stocks at $47
Dr Treasury stocks 47,000
Cr Cash 47,000
April 10, 2019, treasury stocks were sold at $50
Dr Cash 50,000
Cr Treasury stocks 47,000
Cr Additional paid in capital 3,000
Treasury stocks account is a contra equity account with a debit balance that reduces the value of total stockholders' equity.
Answer:
b. $7,200,000
Explanation:
Common stock of $5,400,000
Retained earnings of $2,000,000
Unrealized losses on available-for-sale securities (<u>$200,000) </u>
Stockholders' Equity $7,200,000
Unrealized gains on trading securities of $100,000 is not being added to the stockholders equity because it has been charges in profit and Loss statement and it is reflected in the net Income which is already been included in retained earning. Only Unrealized losses on available-for-sale securities of 200,000 is reported in the Stockholder's equity under separate head in the balance sheet.
