Question is down below, 80 points! :)

The adjusted trial balance of Lopez Company shows the following data pertaining to sales at the end of its fiscal year, October

Oksana_A [137]

Answer:

A) Prepare the revenues section of the income statement.

Lopez Company

Income Statement for the year ended MM DD, YY

Sales Revenue $852,850

-Sales Returns and Allowances $24,030

-Sales Discounts <u> $12,760 </u>

= Net Sales <u>$816,060</u>

B) Prepare separate closing entries for

(1) sales

Dr. Cr.

Sales $852,850

Income Summary $852,850

(2) the contra accounts to sales.

Dr. Cr.

Income Summary $36,736

Sales Returns and Allowances $24,030

Sales Discount $12,706

6 0

3 years ago

On December 31, 2021, Interlink Communications issued 6% stated rate bonds with a face amount of $119 million. The bonds mature

Tamiku [17]

Answer:

Price of the bond is $104,236,860.

Explanation:

Given:

Coupon rate is 6% or 0.06

Face value = $119,000,000

Coupon payment each year = 0.06×119,000,000

= $7,140,000

Yield to maturity = 7% or 0.007

Maturity period = 30 years

Price of bond = Present value of face value + present value of coupon payment (annuity)

Price of bond = $119,000,000_{(PV\ 30,0.07)} + 7,140,000_{(PVA\ 30,0.07)}$

PV of $1 for 7%,30 periods = 0.1314

PVA of $1 for 7%,30 periods = 12.409

Substitute the values in above formula:

Price of bond = (119,000,000 × 0.1314) + (7,140,000 × 12.409)

= 15,636,600 + 88,600,260

= $104,236,860

There will be slight difference in final answer as present value table is used. Excel spreadsheet gives an accurate answer.

So, price of bond is $104,236,860

8 0

3 years ago

at the marriage of her daughter, lorna is given papers to sign, which the catering company says are the invoices for the food, s

vampirchik [111]

The wedding ceremony planner invoice is a consignment that details a service price and provides an amount of time in which price should be sent.

This invoice is given to consumers after formally asking for the planner's knowledge regarding wedding ceremony preparation.

<h3>What is consignment with example?</h3>

An consignment is an itemized commercial file that records the products or offerings delivered to the customer, the complete quantity due, and the favored payment method. The vendor can send both paper or electronic invoices to the customer.

<h3>Does invoice suggest paid?</h3>

An bill is a demand for price (delivered both electronically or physically) that is sent with the aid of the vendor after the sale of goods/services has been completed, however earlier than price has been made. In essence, invoices are used to make certain that your business receives paid.

Learn more about invoices for the wedding. here:

<h3>brainly.com/question/24086159</h3><h3>#SPJ4</h3>

7 0

1 year ago

Frank's is a furniture store that is considering adding appliances to its offerings. Which one of the following is the best exam

alexandr402 [8]

Answer:

The correct answer is:

Selling furniture to appliance customers.

Explanation:

In this case, the company can take advantage of the fact that consumers who buy furniture for their homes are usually interested in the line of appliances. This is a very good strategy, because in this manner they will realize about the need or desire at the same time this fact will have good consequences, so that they can make a single purchase and a single shipment, giving them the feeling of saving a lot leading them to Buy more in the store. Therefore, using this strategy the company will have more cash flow in this way.

4 0

3 years ago

How does competition affect markets?

777dan777 [17]

Answer:

money and price of double of items

Explanation:

it effects the price within the menu and items too

think of it being the "Krusty Krab" and the "Chum Bucket"

6 0

3 years ago

Read 2 more answers