Answer:
$0 in March; 2.07 mil in May
Explanation:
At the end of March, Baldwin corporation would have accounted the entire sales as they follow accrual system of accounting. Since the company offers 30 day credit period, its assumed all sales are on credit. The consolidated entry would be
Debtors accounts Debit $ 2,070,000
Sales account credit $ 2,070,000
As per the information provided, the company has received $2.07 million by the end of may. Since there is a credit period of 30 days, its assumed that no payment has been received in March and hence nothing should be shown in March. Its a post balance sheet event that does not have any impact as on March.
By the end of may, the company received the entire payment and hence in the income statement of May, the entire $2.07 million should be shown. Collection entry should be passed which will remove the debtors , however will not impact the profit / loss.
Statistics are used to describe the basic characteristics of study populations and other data sources.
C. 8.5 not sure my answer
The reliance on one commodity explains why they are classified as a peripheral economy.
<h3>What is a peripheral economy?</h3>
A peripheral economy is an economy that relies on either one commodity or a few commodities. As a result, these types of economies are extremely vulnerable to fluctuations in price and demand of that commodity.
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Answer:
The answer is "9%".
Explanation:
Please find the complete question in the attached file.
The formula for calculating the net return rate:
Therefore, the net return rate is 9%.
