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1 year ago

When merchandise is returned for a refund or for credit to be applied to other purchases, the situation is called a(n)

1 answer:

4 0

The situation when a merchandise is returned for a refund or for credit to be applied to other purchases is called Purchase return inwards.

<h3>Return inwards</h3>

A purchase return as the name implies occurs when the buyer of a merchandise, services, inventory, fixed assets, or other items sends these goods back to the seller.

These purchase returns when excessive can interfere with the profitability of a business, so they should be closely monitored.

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Martinez Company has an old factory machine that cost $66,000. The machine has accumulated depreciation of $36,960. Martinez has

brilliants [131]

Answer:

Journal entries

Explanation:

The journal entries are as follows

(a) Cash A/c Dr $33,000

Accumulated depreciation A/c Dr $36,960

To Factory machine A/c $66,000

To Profit on sale of factory machine A/c $3,960

(Being the sale of machinery is recorded and the remaining balance is credited to the profit on sale of factory machine account)

(b) Cash A/c Dr $19,800

Loss on sale of factory machine A/c $9,240

Accumulated depreciation A/c Dr $36,960

To Factory machine A/c $66,000

(Being the sale of machinery is recorded and the remaining balance is debited to the loss on sale of factory machine account)

8 0

2 years ago

A rectangular floor measures $a$ feet by $b$ feet, where $a$ and $b$ are positive integers with $b > a$. An artist paints a r

DENIUS [597]

The number of possibilities that are there for the ordered pair is 2.

<h3>Calculation and Parameters
</h3>

Because the unpainted part of the floor covers 1/2 of the area, then the painted rectangle covers 1/2 of the area as well.

Given that the border width is 1 foot, the dimensions of the rectangle are a-2 by b-2.

Making an equation:

ab= 2((a-2)(b-2))

ab= 2ab-4a-4b+8

ab-4a-4b+8=0

If we apply Simon's Favorite Factoring Trick,

ab-4a-4b+16= 8

(a-4)(b-4)= 8

Since b > a, then we have the possibilities

(a-4) = 1 and (b-4) = 8, or (a-4) = 2 and (b-4) = 4.

(5, 12) or (6,8) which gives us 2 possibilities.

Read more about possibilities here:

brainly.com/question/25870256

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8 0

1 year ago

Describe a product, and then give an example of a time when the demand for this product might be high and the demand for this pr

d1i1m1o1n [39]

An inner tube for a swimming pool would be in high demand during the summer months, and in incredibly low demand in the winter months.

7 0

2 years ago

Indicate whether the above items should be disclosed (A) in the summary of significant accounting policies note, (B) in a separa

Drupady [299]

Answer:

(A) in the summary of significant accounting policies.

Explanation:

It has the company's financial statements and also describes the key policies that are being followed by the accounting department. This policy summary is mandated by the accounting framework like IFRS or GAAP.

6 0

2 years ago

Mario's is a pizza and pasta producer that experiences increasing opportunity cost. (a) Draw a production possibilities frontier

Bad White [126]

Answer:

(in the graph)

Explanation:

The PPF will show how Mario can only do as much of pizza and pasta and there is a certain point at which producing additional units of pasta or pizza comes at the cost of resinging a unit of the other good.

The points over the line and below the lien are attainable.

While those above the frontier are unattainable for Mario's current factor disposition.

3 0

2 years ago