Barto Company provides this information for the month ended October 31, 2017: sales on credit $300,000, cash sales $150,000, sales discounts $5,000, and sales returns and allowances $19,000. Prepare the sales section of the income statement based on this information. Only this part: Explain where each of these items would appear on a multiple-step income statement: gain on disposal of plant assets, cost of goods sold, depreciation expense, and sales returns and allowances.
Answers
Answer:
The Multi-step income statement is attached, Please find it
Explanation:
The multi-step income statement is attached with this answer please find it.
Gain On Disposal will appear in the other income section of the multi-step income statement
Cost of goods sold will appear in the cost of goods sold section of the multi-step income statement
Depreciation expense will appear in the operating expense section of the multi-step income statement
Sales returns and allowances will appear in the sales / net sales section of the multi-step income statement
Related Questions
Find out the municipal taxes you are subjected to. Calculate your average annual tax payments to your municipality.
(I'm not sure what this question for my online financial class is asking, can someone help?)
Answers
Answer:
I conducted an online research on the state of Virginia. The state of Virginia has 95 counties, 39 independent cities, and 190 incorporated towns. Only elected governing bodies can impose local taxes in this state of Virginia. A bulk of the local tax money comes from property taxes.
The following is the list of municipal taxes a consumer in all counties and cities of the state of Virginia is subjected to:
Items Tax Percentage Districts
Retail sales tax 0.7%
Occupancy tax 2.1% only for the Northern Virginia Planning District
Fee on grantors of real estate $0.15 to $100 of the value of property sold only for the Northern Virginia Planning District
Wholesale distributors of motor fuel 2.1% Hampton Roads Planning District
Restaurant meal 1%
Communication taxes 1.05%
Motor vehicle rental tax 4%
Explanation:
I conducted an online research on the state of Virginia. The state of Virginia has 95 counties, 39 independent cities, and 190 incorporated towns. Only elected governing bodies can impose local taxes in this state of Virginia. A bulk of the local tax money comes from property taxes.
The following is the list of municipal taxes a consumer in all counties and cities of the state of Virginia is subjected to:
Items Tax Percentage Districts
Retail sales tax 0.7%
Occupancy tax 2.1% only for the Northern Virginia Planning District
Fee on grantors of real estate $0.15 to $100 of the value of property sold only for the Northern Virginia Planning District
Wholesale distributors of motor fuel 2.1% Hampton Roads Planning District
Restaurant meal 1%
Communication taxes 1.05%
Motor vehicle rental tax 4%
A client has a third-degree burn on the leg. The wound is being treated by the open method. After about 4 days, a hard crust has formed around the leg and is impairing the circulation to the leg. What procedure would be done to relieve pressure on the affected area?
A. escharotomy
B. debridement
C. allograft
D. silvadene application
Answers
your answer is third hope it's helpful to you
Allograft procedure would be done to relieve pressure on the affected area.
What is Allograft?Allograft refers to the transplant of an organ or tissue from one person of the same species to another with a different genotype. For instance, an allograft is a transplant from one individual to another who is not an identical twin. Many human transplants, including those involving cadaveric, live related, and living unrelated donors, use allografts. also referred to as a homograft or an allogeneic graft.
Allografts can be used in a variety of conditions with varied degrees of severity. For instance, bone allograft transplants can be utilized for more cosmetic purposes in dentistry or plastic surgery, as well as to repair limbs in orthopedics.
Allograft transplants can be employed both during the operation and directly for the treatment of patients. A type of bone putty created from donated bone or tissue material is called a demineralized bone matrix. Musculoskeletal allograft transplants are the most popular kind of allograft transplants.
This relates to one of the primary justifications for the use of allograft transplants: synthetic materials can have characteristics that differ from those of biologically human tissue and may not be appropriate for the intended application. In addition, tissue from an allograft transplant usually fuses with the recipient's own tissue over time, becoming an indistinguishable component of the recipient's body. If one's own tissue cannot be used in sufficient quantities, allograft transplants may be employed.
Tissues can be prepared for allograft transplantation using a variety of techniques. To get rid of as many cellular components as feasible, the tissue is treated with antibiotics, and detergents during aseptic processing.
It is also possible to chemically sterilize allograft tissue using the sterilization process. Gamma irradiation, a type of electromagnetic radiation that purges the tissue of microorganisms, is frequently combined with this. However, viruses might not be eliminated by gamma radiation.
Hence, correct option is C.
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In Sam's greenhouse operation, labor is the only short term variable input. After completing a cost analysis, if the marginal product of labor is the same for each unit of labor, this will imply that
A. the average product of labor is always equal to the marginal product of labor.
B. the average product of labor is always greater that the marginal product of labor.
C. the average product of labor is always less than the marginal product of labor.
D. as more labor inputs are used, the average product of labor inputs will fall.
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Answer:
i think the answer is C. the average product of labor is always less than the marginal product of labor.
Explanation:
:)
Eloise, a medical equipment sales rep, purchases a quick snack to eat on the way to work. She buys lunch while on the road visiting customers, and grabs bread and milk on the way home when she stops to buy gas. Eloise probably does the majority of this shopping at a
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Answer:
convenience store
Explanation:
A convenience store is a retail store that usually sells a large range of everyday items to customers.
The amounts of these products are usually in small amounts (not wholesale).
Items sold could include drinks, coffee, snacks, over the counter drugs, milk, bread, and so on.
In the given scenario Eloise purchases a quick snack, lunch, bread,, milk, and gas during the day.
She is most likely making purchases from a convenience store
Exercise A. Answer the following questions. 1. What are the basic points to be considered while running the occupation? Give a short description for each of them.
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Answer:
basic pints to be conccedred wile running is u should drink water more and f##k more
Explanation:
In measuring GDP as the sum of all incomes earned in production, we should include: purchases of used goods. purchases of used goods. American purchases of foreign output. American purchases of foreign output. wages and salaries. wages and salaries.
Answers
Answer:
wages and salaries.
Explanation:
GDP is an acronym for Gross Domestic Products (GDP) and it can be defined as a measure of the total market value of all finished goods and services made within a country during a specific period.
Simply stated, Gross Domestic Products (GDP) is a measure of the production levels of any nation.
Basically, the four (4) major expenditure categories of GDP are;
I. Consumption (C).
II. Investment (I).
III. Government purchases (G).
IV. Net exports (N).
Additionally, it is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country.
In measuring GDP as the sum of all incomes earned in production, we should include wages and salaries of the people working in a particular country.
Explain the importance of leisure activities.
Answers
Answer:
leisure activities improve the productivity of people
Explanation:
if you feel stressed and then go to a water park, you will get less stressed right?
If a business is using factors of production 100% efficiently, the plot will be on the curve. However, most business efficiency falls inside the
curve. Why is this?
A. They are not making efficient use of their factors
of production.
B. They are making over 100% efficient use of their
factors of production.
C. They are making inequitable use of their factors
of production.
Answers
Answer: A. They are not making efficient use of their factors of production.
Explanation:
Production Possibilities Curve helps in capturing opportunity cost and scarcity when an economy produces two goods or services.
It should be noted that the points on the interior of the PPC simply means that the economy is inefficient. The points on the PPC implies that the economy is efficient, while the points beyond the PPC simoky means that they are unattainable.
Based on the question, the production points inside the curve simply implies that the economy isn't producing at its comparative advantage, and therefore, they are not making efficient use of their factors of production.
Small businesses that are just getting off the ground often have problems with the difference between cash coming into the business and cash going out of the business. For example, if the company allows far too lenient credit sales terms, customers do not pay on time, which could cause cash to come in too slowly. That's why the __________ is a key financial statement of any business.
Answers
Answer: cash flow
Explanation:
Cash flow refers to the net amount of cash and cash equivalents which is being transferred into and out of a business.
The cash flow is an important financial statement of any business. It's vital for all businesses to keep a watch on their cash flows. This is vital in knowing if the business is making a profit or loss.
At a price of $2,000 per unit, the demand for Rancho 60 mountain bikes from Peyton Bike's Inc. is 300 units, which is the number of bikes the company manufactures every year. This is Peyton Bike's maximum output. If the marketing managers at Peyton Bike's Inc. decide to sell each bike at a price lower than $2,000 per unit, _____.
Answers
The statement "bikes shortage should be developed" is correct.
The following information should be considered:
In the case when the firm wants to sell the product at a lower price so there should be a product shortage.The demand and supply should not achieve at equilibrium.There is no inelastic demand that should be developed.The no of bikes generated should not be increased.Therefore we can conclude that The statement "bikes shortage should be developed" is correct.
Learn more about the product shortage here: brainly.com/question/12596577
if a transaction says started a business with cash 80000 Rands in bank is it a contra entry?
Answers
Answer:
yes
Explanation:
because, Contra entries are those entries in which same account can be debited and credited in contrary situation. For example we debit Bank account when depositing cash.At the same time we credit bank account when withdrawing money from bank.
Labor and management at Leo Trucking cannot seem to agree upon a contract for the truck drivers. As each side contends that they are bargaining fairly, no agreement seems to be possible. The drivers are threatening to go on strike, and management knows that such a strike would prove to be costly. None of the parties involved in the dispute wants to reach a win-win agreement. They are each highly focused on their demands, which they would like to achieve, otherwise known as their ________ points. target tolerance focal distribution resistance
Answers
Answer:
resistance points
Explanation:
In simple words, The resistance level can be understood as the lowest point where a mediated settlement will be accepted. For a vendor, this implies the smallest number (minimum) or end result they are willing to take, whereas for a purchaser, it implies the highest number (upper limit) or bottom boundary they are willing to spend.
Thus, from the above we can conclude that the correct answer is resistance point.
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Keep track of your income and expenses for one month. List all your assets and liabilities (debts owed) in a spreadsheet. Based on these documents, develop a monthly budget and a net worth statement.
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Explanation:
16. The ape ……………………. from branch to branch in search of food.
1) lopes 2) swings 3) swoops 4) leaps
Answers
Answer: swings
Explanation:
Answer:
swings
Explanation:
What is price index number?
Answers
Answer:
Price index number can be defined as a measure of how the price of goods and services change over a specific period of time.
Explanation:
Price can be defined as the amount of money that is required to be paid by a buyer (customer) to a seller (producer) in order to acquire goods and services. Thus, it refers to the amount of money a customer or consumer buying goods and services are willing to pay for the goods and services being offered.
Generally, the price a consumer (buyer) would pay for goods and services are primarily being set by the seller or service provider.
In sales and marketing, pricing of products is considered to be an essential element of a business firm's marketing mix because place, promotion and product largely depends on it.
Price index number can be defined as a measure of how the price of goods and services change over a specific period of time.
Hence, it's a statistical value (number) that is typically used for expressing the price change of goods and services as a percentage of prices in a base year.
On a related note, the consumer price index (CPI) is a measure used to analyze and examine the weighted average or aggregate of prices of a basket of goods and services paid for by consumers such as medical, food, and transportation.
A door-to-door salesperson knocks on Mary's door and convinces her to purchase the Wonder Vacuum for $500. Soon after the salesperson leaves, Mary begins to have second thoughts about the transaction. Which statement about the situation is correct
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A company has the following: Cash balance per books, December 31, $82,600. Note receivable of $1,750 plus $250 of interest collected, $2,000. Outstanding checks, $4,900. Deposits in transit, $2,500. Bank service charges, $50. NSF check, $650. The company erroneously recorded a $1,000 cash payment on its books as a $100 cash payment. Also, the bank erroneously deducted $300 from the company’s checking account. The bank should have taken the money from a different customer’s account. How much is the adjusted cash balance per books on December 31?
Answers
Answer:
$83,000
Explanation:
Calculation to determine How much is the adjusted cash balance per books on December 31?
Balance per books on Dec. 31, $82,600
Add Note collected by the bank including interest $2,000
Less Bank service charge ($50)
Less NSF check ($650)
Less Book error ($900)
($1000-100)
Adjusted cash balance per books $83,000
Therefore the adjusted cash balance per books on December 31 is $83,000
Which of these correctly describes the statute of limitations as it applies to real estate? Unset starred question A wronged party can initiate a court action at any time after closing but before reselling the property. The buyer has the time between the inspection and closing to initiate a court action against the seller. There’s a time limit for a wronged party (buyer or seller) to initiate a court action. The seller has a limited time after closing to disclose any known defects with the property.
Answers
Answer:
There’s a time limit for a wronged party (buyer or seller) to initiate a court action.
Explanation:
The best statement that correctly describes the statute of limitations as it applies to real estate is the "There’s a time limit for a wronged party (buyer or seller) to initiate a court action."
This is evident in the fact that depending on the bone of contention or the main issues, there are certain but limited times required for the wronged party to go through litigation to resolve the issue.
For example in California, United States, there are Six Primary Statutes of Limitation apply in Real Estate Sales Transactions and Litigation and each has limited time with 4years of Limitations for Breach of Contract, and 2 years for Limitations for Actions Against a Real Estate Broker Agent, etc.
10. Publishing representatives who call on college professors to inform them of their company's new publications have a great deal of freedom in their jobs. They have only a general sales pitch, which they tailor as needed. Based on this information, we can say that the job of these publishing representatives ________.
Answers
Answer:
Scores low on degree of formalization
Explanation:
Degree of formalization of a process is the level to which the process is free of the personal input of the individual executing the process.
It implies that in high degree of formalization process execution is set and the same steps are followed by all participants.
In the given instance Publishing representatives have a great deal of freedom in their jobs.
They tailor their sales pitch as they see fit.
This shows a low degree of formalization in the sales process
Manufacturing cycle time is best defined as the: length of the work shift, expressed in minutes per day. time it takes a unit to move from one workstation to the next. time between the start of one unit and the start of the next unit. sum of all the task times to make one unit of a product. time from raw materials receipt to finished product exit.
Answers
Answer:
time from raw materials receipt to finished product exit.
Explanation:
Manufacturing cycle time is best defined as the "time from raw materials receipt to finished product exit."
To explain better, manufacturing cycle time is the overall time of process that covers the total duration it takes the final production of commodities to be made. That is beginning from the inception stage which is usually raw materials through its conversion stage and eventually into finished goods.
A company has budgeted direct materials purchases of $290000 in July and $460000 in August. Past experience indicates that the company pays for 70% of its purchases in the month of purchase and the remaining 30% in the next month. During August, the following items were budgeted: Wages Expense $80000 Purchase of office equipment 65000 Selling and Administrative Expenses 42000 Depreciation Expense 29000 The budgeted cash disbursements for August are
Answers
Answer:
$596,000
Explanation:
Calculation to determine what The budgeted cash disbursements for August are:
Wages Expense $80,000
Add Purchase of office equipment $65,000
Add Selling and Administrative Expenses $42,000
Add August budgeted direct materials $322,000
($460,000*.70)
Add July budgeted direct materials $87,000
($290,000*.30)
Budgeted cash disbursements $596,000
($80,000+$65,000+$42,000+$322,000+$87,000)
Therefore The budgeted cash disbursements for August are $596,000
Leo's Lawncare purchased equipment on January 1. The cost was $15,000, and the equipment had a residual value [salvage value] of $5,000. The equipment was given a useful life of 10 years. After the end of two years, it was determined that the equipment would be obsolete in 5 more years and the residual value would still be $5,000. What will be the depreciation under the straight-line method to the nearest dollar be for the third year
Answers
Answer:
$1,600
Explanation:
The computation of the depreciation expense for the third year is shown below:
The yearly depreciation expense is
= ($15,000 - $5,000) ÷ $10
= $1,000
For two years is should be
= $1,000 × 2
= $2,000
Now the depreciation expense for the third year is
= ($15,000 - $2,000 - $5,000) ÷ 5 years
= $1,600
How have people been lately good? bad? something else?
Answers
Answer:
People have been very bad lately
The invisible hand principle indicates that competitive markets can help promote the efficient use of resources Group of answer choices only if buyers and sellers really care, personally, about economic efficiency. even when each market participant cares only about their own self interest rather than about the overall efficiency of resource use. even if business firms fail to produce goods efficiently. if, and only if, businesses recognize their social obligation to keep costs low and use resources wisely.
Answers
Answer:
even when each market participant cares only about their own self interest rather than about the overall efficiency of resource use.
Explanation:
A capitalist economy also referred to as free-enterprise system, pure capitalism, or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, a capitalist economy is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.
Simply stated, a capitalist economy is a type of economy that is completely driven by demand and supply of goods and services.
The invisible hand principle indicates that competitive markets can help promote the efficient use of resources even when each market participant such as producer and suppliers cares only about their own self interest rather than about the overall efficiency of resource use.
The "invisible hand" concept asserts that, the self-interest by producers and suppliers of resources in a market system will automatically promote the public interest as well.
This ultimately implies that, public and private interest will always coincide assuming there exist competition in a free market system.
In conclusion, the invisible hand concept is a metaphorical description of the unforeseen forces that typically moves a free market system or economy.
pls help
Your lifestyle desires should be a big part of choosing your career.
Is this statement true or false?
true
false
Answers
Answer:
True
Explanation:
You should incorporate your life desires into choosing a career choice because if you are not happy with your job or you don't feel fulfilled with what you are doing then you are only harming yourself mentally and sometimes physically by continuing to do something that doesn't fit with your desires.
Joe owns a stock with a beta of 1.5 and a standard deviation of 12%. The stock returned 16%. Ella owns a stock with a beta of 1.34 and a standard deviation of 16.4%. The stock has a total return of 14.8%. The risk free rate is 2.5%. Using the Sharpe ratio, which portfolio performed better
Answers
Answer: Joe's portfolio performed better.
Explanation:
The Sharpe ratio provides a risk adjusted return to allow for easier comparison across securities with different risks.
Sharpe ratio = (Return - Risk free rate) / Standard deviation
Joe:
= (16% - 2.5%) /12%
= 1.125
Ella:
= (14.8% - 2.5%) / 16.4%
= 0.75
Joe's portfolio performed better.
Capital budgeting decisions ______. Multiple select question. involve an immediate cash outlay in order to obtain a future return are day-to-day decisions made by managers require little or no thought before being made require a great deal of analysis prior to acceptance
Answers
Answer:
involve an immediate cash outlay in order to obtain a future return
require a great deal of analysis prior to acceptance
Explanation:
A capital budgeting decision refers to an investment and the financial commitement. If we considered a project so here the business is making the financial commitment and at the same time it invest in the longer period that have an influence on the future projects
So it is an instant cash outflow for gaining a future return and also have a great deal before accepting it
Aesha works for a moderately priced running shoe manufacturer and while their products are lower in cost, there is a high degree of consumer pressure to create the best quality running shoes possible and to constantly innovate with new designs. Which aspect of Porter’s Diamond does this demonstrate
Answers
Answer:
Demand conditions
Explanation:
Demand conditions means the size and the nature of the customer base for the products that could result in innovation and the improvement related to the product.
Since in the given situation it is mentioned that their products contains less cost but they develop the best quality shoes also they innovate the products from time to time so this represent the demand conditions
Bryan works as a salesman for Jumbo Corp. Last year his sales target was $3 million. This year in an aggressive bid for growth, the company increased the sales quota for all its sales people to $5 million, although the market for Jumbo Corps products had slowed. In order to meet his target, Bryan bribed an official of a potential customer. The roots of his unethical behavior can be traced to ___ cultural differences in countries. varying ethical standards in different nations. unrealistic performance goals. strong personal ethics among employees.
Answers
Answer:
unrealistic performance goals.
Explanation:
Unethical action is defined as one that is carried out by an individual that is seen as wrong or outside of expected behaviour in a particular environment.
In the given scenario Bryan bribed an official of a potential customer.
However his action is as a result of the company increasing the sales quota from $3 million for all its sales people to $5 million.
This is despite the market for Jumbo Corps products having slowed.
The target was unrealistic driving Bryan to take the action he did
A warranty in which the seller warrants that he or she has valid title to the goods he or she is selling and that the transfer of title is rightful is known as a warranty ________. of good title of no interference of no security interests against infringements
Answers
Answer:
of good title.
Explanation:
A good can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a good are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, soft drinks, etc.
A warranty can be defined as a written promise or guarantee made by a manufacturer, lessor or seller about the identity or quality of goods and services or a property to a purchaser, promising him or her to repair or replace it if necessary within a specified time frame.
Hence, a warranty in which the seller of a good or service warrants that he or she has valid title to the goods he or she is selling and that the transfer of title is rightful is known as a warranty of good title.
A legal title can be defined as the actual (absolute) ownership of a property that is recognized and enforceable in a court of competent jurisdiction.
