The journal entry to record the cash refund to the customer includes a debit to Sales Returns and Allowances and a credit to Cash for $40.
An item is returned to the seller by a customer or client as a sales return.
- Refund policies are customizable by businesses. There are other options, such as allowing free returns within a set time limit, imposing a restocking cost, or only allowing returns with a receipt. A shop credit or exchange may be available from some businesses. Accountants can enter these transactions in a sales returns account after confirming a return complies with a company's policy.
- An allowance is a reserve set aside in anticipation of costs that will arise at a later time. By creating a reserve, a cost that would have otherwise been recognized in a later period is instead recognized sooner, into the present period.
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Answer:
The correct answer is option A.
The correct answer is option A.
The correct answer is option C.
Explanation:
The average fixed cost is the ratio of total fixed cost and total output. It measures the fixed cost per unit of output. The average variable cost is the ratio of total variable cost and total output. It measures the variable cost per unit of output.
The sum of the average fixed cost and average variable cost is the average total cost. It is the ratio of the total cost of production and the total output produced. It measures the cost of production per unit of output.
The marginal cost of production is the cost of producing an additional unit of output.
The average total cost and average variable cost are at their minimum points when they are equal to the marginal cost. There is no such thing in the case of an average fixed cost. This is because the fixed cost is constant in the entire production process, so the average fixed cost goes on declining with the increase in output.
As the level of output increases, the difference between the average total cost and average variable cost goes on declining. This is because the total fixed cost remains constant during the entire process. While the variable cost goes on increasing with the level of output. As the output increases this difference between smaller and becomes equal to average fixed cost.
The answer is True
Answer:
Honest Mistake
Explanation:
If Shay did not turn in her time sheet at work as she may have simply forgotten, the best way her manager could write up a report anyway in the most positive way is to term it a honest mistake as all other option have negative words attached to them.
For example, if the report is termed 'definite falsehood' it is already communicating that Shay is lying about her not turning in the time sheet
Also, to term it 'neglectful behavior' also communicates a negative message claiming that Shay acted in negligence
Furthermore, if the report is tagged 'serious infringement' it also carries a negative message of Shay having done something that is not only wrong but very seriously wrong
Answer:
(a) If the Bills want to sell tickets to all 8 games by selling eight individual tickets, they have to set the price P = 120 − 10(8) = 120 − 80 = $40. This yields revenue of $40(8) = $320 from each fan.
(b) If the Bills practice second degree price discrimination, they can effectively charge
P = 120 − 10(1) = 120 − 10 = $110 for single games,
P = 110 + 100 + 90 + 80 = $380 = $95/ticket for a 4-game package, and
P = 110 + 100 + 90 + 80 + 70 + 60 + 50 +40 = $600 = $75/ticket for an 8-game package.
