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mr Goodwill [35]
2 years ago
5

During 2021, its first year of operations, Ashbaugh Industries recorded sales of $21,000,000 and experienced returns of $1,400,0

00. Returns are accounted for as they occur, with additional estimated returns accrued at the end of the period. Cost of goods sold totaled $12,600,000 (60% of sales). The company estimates that 8% of all sales will be returned. The year-end adjusting journal entry to account for anticipated sales returns would include a:
Business
1 answer:
Yuliya22 [10]2 years ago
5 0

Answer:

Credit to refund liability of $280,000.

Explanation:

The year end adjusting entry would be

Sales Return $280,000 ($21 million × 8% - $1,400,000)    

    Refund Liability  $280,000    

(Being the anticipated sales return is recorded)

Here the sales return is debited as it increased the sales return and the refund liability is credited as it increased the liabilities

The same is to be considered

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lord [1]

I would not change any specific company accounts before you in order to increase the company's figures.

<h3>What is an accountant?</h3>
  • An accountant is a person who practices accounting or accountancy.
  • Accountants who have passed their professional associations' certification tests can use titles like Chartered Accountant, Chartered Certified Accountant, Certified Public Accountant, or Registered Public Accountant.
  • Statute grants such professionals certain responsibilities, such as the ability to certify an organization's financial statements, and they may be held liable for professional misconduct.
  • Non-qualified accountants may work for a qualified accountant or independently, with no legislative privileges or obligations.

As I am 100% honest with my work and work under ethics so I would not change any specific company accounts before you in order to increase the company's figures.

Therefore, I would not change any specific company accounts before you in order to increase the company's figures.

Know more about company accounts here:

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5 0
2 years ago
The process that falls between buying for a new need and making a routine repurchase is called
Archy [21]

Answer:

Modified Rebuy

Explanation:

Modified rebuying is the process whereby an individual or an organization makes a purchase that have been previously purchased but this times makes changes to some elements different from the previous purchase like change of suppliers, terms, price and so on. In this case, the buyer reviews the buying situation. Here, the buyer is interested in modifying the specifications of goods previously purchased.

7 0
3 years ago
A homebuyer wishes to finance the purchase with a $95,000 mortgage with a 20-year term. What is the maximum interest rate the bu
galina1969 [7]

Answer:

0.811% per month is the amximum rate it can affor

or 9.732% annual rate with monhly compounding.

Explanation:

We have to solve for the rate at which the monthly payment equals 900 dollars.

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 900.00

time 240

rate r

PV $95,000.0000

900 \times \frac{1-(1+r)^{-240} }{r} = 95,000\\

Given the complexity of the formula we solve using excel or a financial calcualtor

we write on a1 =PV(A2;240;95000)

on a2 we write any number between 0 and 1

then we use goal seek tool adn define that we want A1 to be 95,000 by changing A2 (which is the argument for rate)

the value of A2 after this is our answer:

900 \times \frac{1-(1+0.00811)^{-240} }{0.00811} = PV\\

PV $95,000.0000

5 0
3 years ago
In the vast majority of commercials that advertise cleaners, a woman is shown using the product, even though the high percentage
erma4kov [3.2K]

Answer:

Sex roles are portrayed stereotypical

Explanation:

The people perceive that the household issues like cooking, washing clothes, children mentoring, etc are the jobs of the women becuase this is how they had contributed to the family in the past. So media stereotypically perceives the same way the society does and also portrays it the same way.

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3 years ago
ATTENTION I WILL GIVE BRAINLIEST!!!!
Katyanochek1 [597]
I can help ya I will email u the answer
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2 years ago
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