1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Elden [556K]
3 years ago
10

On December 31, the company estimates future sales refunds to be $900. As of that date, the company has an unadjusted debit bala

nce in Accounts Receivable of $25,000 and an unadjusted credit balance of $300 in Sales Refunds Payable.
Requried:
Write down the necessary adjusting entry.
Business
1 answer:
dimulka [17.4K]3 years ago
4 0

Answer:

Date      Account titles and Explanation       Debit    Credit

Dec 31   Sales return and allowance               $600

                     Sales refund payable                                $600

                     ($900 - $300)

              (To record the expected refund of sales)

You might be interested in
Troy filed a good faith complaint of discriminatory harassment against his supervisor, Cynthia. One day after receiving notice o
Paraphin [41]

Answer:

Of course this is a retaliatory action. Troy filed a complaint for discriminatory harassment against Cinthia and she answers back by discriminating against Troy even more. All she needed to do was stop discriminating against Troy, she wasn't supposed to increase discrimination against him. This is an example of what shouldn't happen.

Explanation:

5 0
3 years ago
Fill in the missing words: A leading chocolate company recently announced that it has succeeded in creating red chocolate. The c
Alexus [3.1K]

The company <u>says</u> that no food coloring was involved. Instead, they used a <u>special type </u>of cacao bean and a unique manufacturing process.

<h3>What is a manufacturing process?</h3>

This involves the process of turning raw materials into finished goods with the help of tools, human labor, machinery etc.

In this context, the complete sentence is the company <u>says</u> that no food coloring was involved. Instead, they used a <u>special type </u>of cacao bean and a unique manufacturing process.

Read more about manufacturing process

brainly.com/question/22539119

#SPJ1

5 0
1 year ago
Presented below is the stockholders' equity section of Mead Corporation at December 31, 2006: Common stock, par value $20; autho
marishachu [46]

Answer:

a. $1,965,000

Explanation:

The computation of total stockholders' equity is shown below:-

Paid-in capital from Treasury Stock =  1,800 × ($30 - $28)

= 1,800 × $2

= $3,600

Retained earning = $500,000 + $450,000

= $950,000

Treasury stock = ((3,000 - 1,800) × $28)  + (3000 × 35)

= (1,200 × $28) + (3000 × 35)

= $33,600 + $105,000

= $138,600

Total stockholders' equity on December 31, 2007 = Common stock + Paid-in capital in excess of par value + Paid-in capital from Treasury Stock + Retained earnings - Treasury stock

= $900,000 + 250,000 + $3,600 + $950,000 - $138,600

= $2,103,600 - $138,600

= $1,965,000

So, we have applied the above formula.

8 0
3 years ago
Hey guys I know this isn’t a math or any school related thing but can y’all please subscribe to my channel . Please
Oduvanchick [21]
Yeah yeah ofccccccc!!!!!!
5 0
3 years ago
Read 2 more answers
Which of the following BEST describes a company's proper liquidity management?
Naddika [18.5K]

Answer:

A. Liquidity management is a balancing act, managers try to find liquidity levels that are neither too high not too low.

Explanation:

Maintaining proper liquidity is an important financial objective of management. Proper liquidity management demands that an entity should be able to meet his short term financial obligation and making sure that liquid assets of the entity are not idle. In order to achieve this, the best way to go is to maintain a level that is neither too high and not too low. Not too high means the entity is not holding too much cash or liquid assets than it currently need to meet its short term financial obligation.

For example, not keeping too much cash in current account but investing them in interest-earning investment assets.

Not too low means the cash or liquid assets held by an entity should not less than the amount needed to meet its short term financial obligation. For example, making sure that the entity has enough cash or readily convertible liquid assets that can be used to pay vendors, rent, interest and meet other short term financial obligation.

Option B is false because keeping too much does not help to maximize short term earnings which is a feature of proper liquidity management. Option C is wrong because there is no guideline to support that deferring coupon payment won`t attract payment and this does not connote proper liquidity management.

Option D is obviously false and does not describe proper liquidity management.

4 0
2 years ago
Read 2 more answers
Other questions:
  • A car owner found that her monthly cost of driving her car depends on the number of miles she drives. She calculates that if she
    5·1 answer
  • Select the statement that does not support the narrow view of non-managerial employees' responsibilities to their employer, the
    10·1 answer
  • In professional baseball, each team plays 160 games. After playing half their games, team A has won 60 and team B has won 49. If
    7·2 answers
  • A $7,500 face value, 20-year bond has a nominal annual coupon rate of 7.4%, paid semiannually. The yield to maturity is 5.3% con
    12·1 answer
  • Yale Company purchased equipment having an invoice price of $21,500. The terms of sale were 2/10, n/30, and Yale paid within the
    11·1 answer
  • which costs of inflation could the government reduce without reducing inflation? a. arbitrary redistributions of wealth b. shoel
    14·1 answer
  • Achieving greater penetration of the market is typically a business goal during the ____ stage of the product life cycle.
    7·1 answer
  • two divisions: the Beta Division and the Alpha Division. The Beta Division has sales of $235,000, variable expenses of $132,600,
    7·2 answers
  • Match the job titles with career clusters executive secretary survey researcher Storage and distribution manager loan officer ca
    8·1 answer
  • What remarketing audiences cannot be defined by default?.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!