Answer and Explanation:
The preparation of the sales section of the income statement is presented below:
<u>Income Statement
</u>
<u>For the year ended </u>
Sales
Sales revenue $903,400
Less:
Sales Discount $15,400
Sales return & allowances $22,000
Net Sales $866,000
hence the net sales is $866,000
The freight out would not be considered. Hence, ignored it
Answer:
See below
Explanation:
Per the above information,
Ending account receivable balance = Beginning account receivable + Credit sales - Collections - Written off amount
$93,000 = Beginning account receivable + $108,000 - $142,000 - $130
$93,000 = Beginning accounts receivable - $34,130
Beginning accounts receivable = $93,000 + $34,130 = $127,130
So, the beginning account receivable would be;
The ending accounts receivable is computed as;
= $930 ÷ 1%
= $93,000
The first step when considering a career is to assess yourself.
Answer:
c. Observation.
Explanation:
If a company wants to gather information about it customer's decision making criteria, the best method is Observation. It allows researchers to gather large data in natural situations.
Focus group will only give analysis of selected group. This is usually beneficial before the launch of a product.
Emails and Mails survey have drawbacks like customers may ignore, might not receive mails, doesn't respond on time.
Personal interviews can be time consuming and customer might not be comfortable about explaining their product selection criteria.
Answer: The following statement is false: <u><em>A consumer is indifferent among all consumption bundles along a given budget line.</em></u>
<u><em>Reason:</em></u> A consumer is not indifferent among all consumption bundles along a given budget line since different consumption bundles yield different utility and thus do differ in preference as well.
Let's assume a budget line: px +py ≤ m
Now, let's consider two different consumption bundle A(
,
) and B(
,
)
We can plot them on a graph and compare the difference in regards with the above answer.
Both of these consumption good might be on the budget line but will lie on different indifference curves and thus will yield different utility.
