(Money matters)

Recording sales, returns, and discounts taken LO P2

Zanzabum

Answer:

Entries are given

Explanation:

We will record assets and expenses on the debit as they increase during the year and will record liabilities and capital on the credit side as they increase during the year or vice versa.

DEBIT CREDIT

April 01

Account Receivable $3,800

Sales $3,800

Apr - 01

Cost of Goods Sold $2,280

Merchandise $2,280

Apr - 04

Sales Return $460

Account Receivable $460

Apr - 04

Merchandise $276

Cost of Goods Sold $276

Apr - 08

Account Receivable $1,400

Sales $1,400

Apr - 08

Cost of Goods Sold $980

Merchandise $980

Apr - 11

Cash $3,340

Account Receivable $3,340

7 0

3 years ago

A 1990 Naval Aerospace Research Laboratory Study noted that the fixations that occur during a scan require about 18 seconds.

Anastaziya [24]

This answer is A. True

7 0

3 years ago

Bragster Bar, a brand of energy bars in Canada, sells its bars singly or in packs of two in South Asian markets instead of their

maks197457 [2]

Answer: Economical requirements

Explanation: Economic requirements refers to the financial and economic position of an economy which affects the preferences and wants of the individuals living in that economy.

In the given case, the company is offering single bar pack as the asian countries do not have high purchasing power as in Canada. If the company offers their regular packages then its price would be high and a large portion of economy might not be able to buy it.

7 0

3 years ago

Maggie's Muffins, Inc., generated $2,000,000 in sales during 2015, and its year-end total assets were $1,400,000. Also, at year-

Ksenya-84 [330]

Answer:

The Sales will increase by $350,000 (2000,000 * 17.5%)

Explanation:

As we know that,

Self Supporting Growth Rate = Return on Equity * (1 - Payout Ratio) ...Eq1

Here

Payout ratio given is 50%

and

Return on Equity = 35% (Step 1)

By putting values in Eq1, we have:

Self Supporting Growth Rate = 35% * (1 - 50%)

Self Supporting Growth Rate = 17.5%

Which means that Sales will increase by $350,000 (2000,000 * 17.5%) which is 17.5%.

Step 1: Find Return on Equity

We know that:

Return on Equity = Net Income / Equity ..............Eq2

As we are not given value of Net Income we can not calculate the value of return on equity. But there is another way that we can calculate by simply multiplying and dividing by sales on Left hand side of the Eq2 equation.

Return on Equity = Net Income / Equity * Sales / Sales

By rearranging, we have:

Return on Equity = Net Income / Sales * Sales / Equity

Now here,

Net Income / Sales = Profit Margin

By putting this in the above equation, we have:

Return on Equity = Profit Margin * Sales / Equity

Here

Profit Margin is 7% given in the question.

Sales were $2,000,000

And

Equity is $400,000 (Step 2)

By putting values, we have:

Return on Equity = 7% * $2,000,000 / $400,000

Return on Equity = 35%

Step 2. Find Equity

Equity = Assets - Liabilities

Here,

Assets are worth $1,400,000

Liabilities are standing at $1,000,000 which includes only current liabilities because company doesn't have any long term borrowings

By putting the values, we have:

Equity = $1,400,000 - $1,000,000 = $400,000

Brother, don't forget to rate the answer.

5 0

3 years ago

Once the information is complete and conclusions are made, then management can make more confident business decisions. This is p

Dovator [93]

The act of making the decision is the part of this step of market research that makes management more confident business decisions.

<h3>What is market research?</h3>

This refers to the activity of gathering market information about consumers' needs and preferences.

Some steps of a market research includes:

present the findings
make the decision
develop the research plan
collect the information