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
Whitepunk [10]
3 years ago
12

Kingbird Company sells 290 units of its products for $18 each to Logan Inc. for cash. Kingbird allows Logan to return any unused

product within 30 days and receive a full refund. The cost of each product is $11. To determine the transaction price, Kingbird decides that the approach that is most predictive of the amount of consideration to which it will be entitled is the probability-weighted amount. Using the probability-weighted amount, Kingbird estimates that (1) 10 products will be returned and (2) the returned products are expected to be resold at a profit.
Required:
a. Indicate the amount of Net sales.
b. Indicate the amount of estimated liability for refunds.
Business
1 answer:
tensa zangetsu [6.8K]3 years ago
8 0

Answer:

Kingbird Company

a. The amount of Net Sales = $5,040.

b. The amount of the estimated liability for refunds = $180

Explanation:

a) Data and Calculations:

Units of products sold to Logan Inc. = 290

Selling price = $18

Sales revenue = $5,220 ($18 * 290)

Cost of each unit = $11

Expected returns = 10/290 = 0.03448

Net sales = $5,220 * (1 - 0.03448)

= $5,040

Estimated liability for refunds = $180 ($5,220 - $5,040)

You might be interested in
A company had net income of $40,000, net sales of $300,000, and average total assets of $200,000. Its profit margin and total as
kvasek [131]

A company had net income of $40,000, net sales of $300,000, and average total assets of $200,000. The profit margin and total asset turnover ratio are 13.3% each. 1.5.

There are two methods that can be used to calculate return on assets. The first method is to divide the company's net income by its average total assets. The second method is to multiply the company's net profit margin by sales.

Return on assets is calculated by dividing a company's after-tax earnings by total assets. The balance sheet total corresponds to the company's total equity and liabilities. This value can be found on the company's balance sheet.

Learn more about assets at

brainly.com/question/25746199

#SPJ4

4 0
2 years ago
The use of theory and observation is more difficult in economics than in sciences such as physics due to the difficulty in a. fo
kupik [55]

Answer:

b. performing an experiment in an economic system.

Explanation:

In contrast to scientific experimentation, whereby connections and differences can be measured between two or more variables. In economics, theory and observation are more difficult than in sciences such as physics due to the difficulty in performing an experiment in an economic system, as human beings' opinions change over time, due to dynamism in human society.

Hence, in this case, the correct answer is option

3 0
3 years ago
There are many different workplaces in the Architecture and
V125BC [204]

Answer:

The non public area of a large building

Explanation:

There is no public traffic to content with and ample space to work.

3 0
3 years ago
Read 2 more answers
Suppose Compco Systems pays no dividends but spent $ 5.18 billion on share repurchases last year. If​ Compco's equity cost of ca
shusha [124]

Answer:

Market capitalization - $155.26

Stock price - $26.77

Explanation:

The computation of the market capitalization is shown below:

= last year dividend × (1 + growth rate) ÷  (cost of capital - growth rate)

= $5.18 billion × ( 1 + 7.9%) ÷ (11.5% - 7.9%)

= $5.58,922 billion ÷ 3.6%

= $155.26

And, the stock price would be

= Market capitalization ÷ outstanding shares

= $155.26 ÷ 5.8 billion

= $26.77

3 0
3 years ago
Which goal is an example of a measurable goal?
Anni [7]

Sales Target

Explanation:

A sales target is an example of a measurable goal and it is probably the most common, and perhaps the most important, measurable goal in a firm.

It simply consists in determining a minimum number of goods or services to be sold, measured in either physical or monetary terms, in order to keep the firm afloat and profitable.

For example, a firm that sells cars can determine that for the month of january it must sell at least 250 cars in order to stay in business. If the goal is not reached, the sustainability of the firm can be endangered.

Help by None other than the<u><em> #QUEEN</em></u> herself <u><em>#DRIPPQUEENMO</em></u>

6 0
3 years ago
Other questions:
  • Chhom corporation makes a product whose direct labor standards are 0.8 hours per unit and $34 per hour. In November the company
    9·1 answer
  • The Covington Engine Company is considering opening a new plant facility to build truck engines. As part of a detailed analysis
    7·1 answer
  • Before the case of Macpherson v Buick Motor Car in 1916, the law based liability for injuries due to a defective product on:____
    11·1 answer
  • Pasha Company produced 50 defective units last month at a unit manufacturing cost of $30. The defective units were discovered be
    6·1 answer
  • It is Micah's role at the company to plan, organize, and control the functions within the human resource department. Based on th
    15·1 answer
  • Suppose that in a certain community, 40% of the residents would answer "yes" to the question, "do you know the names of at least
    7·1 answer
  • The Cash account in the ledger of Clear Windows shows a balance of $12,596 at September 30. The bank statement, however, shows a
    7·1 answer
  • Which of the following BEST describes business strategy? a strategy that assists first-line managers in making day-to-day decisi
    9·1 answer
  • A company had no office supplies available at the beginning of the year. During the year, the company
    14·1 answer
  • True or false: a contra-asset account, such as accumulated depreciation, will have a normal debit balance.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!