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2 years ago

When a buyer returns or takes an allowance on merchandise the issues a?

1 answer:

6 0

If a buyer were to return or take an allowance on merchandise, they must issue a debit memorandum. They do this to let the seller know there was a debt made to their accounts payable in their records. This limits the liability they have for being audited for incorrect placement of debt.

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Andrews Corporation uses the weighted-average method of process costing. The following information is available for February in

marissa [1.9K]

Answer:

The cost for conversion as per equivalent unit of production is $5.85

Explanation:

Formula for cost of conversion per equivalent unit of production =

Total cost / Equivalent units of production

Equivalent cost of production for conversion is given = 95,000 UNITS

CALCULATING TOTAL COST =

Cost of beginning work in progress + Cost incurred in February ( conversion )

= $36,000 + $ 520,000

= $556,000

Putting the values of total cost and equivalent units of conversion in formula-

= $ 556,000 / 95,000

= $5.85

4 0

2 years ago

A company purchased inventory on January 1, 20X2, for $600,000, and uses the FIFO method. On December 31, 20X2, the inventory ha

bagirrra123 [75]

Answer:

See below

Explanation:

It is to be noted that under IFR, inventories are carried at a lower of cost or net realizable value, which is $550,000 in this scenario.

Also, under the United states GAAP, inventories are carried at a lower of cost or market . Here, the replacement cost of $525,000 would be used because it is below NRV and its equal to the difference between NRV and normal profit margin.

7 0

2 years ago

nokia reportedly dismissed the original iphone with its large glass surface partly because it failed one of nokia's own ruggedne

blondinia [14]

The logical conclusion to draw from Nokia's experience in this regard is Nokia prioritized that attribute more highly than the market did. The correct option is d.

<h3>What is the logical conclusion?</h3>

A logical conclusion is a logical statement that is given by taking facts and ideas that are presented before the person. These conclusions are based on true facts and logical things that can happen.

Here, the company Nokia dismissed the original iPhone with its large glass surface, partly because it failed the testing.

Thus, the correct option is d. Nokia prioritized that attribute more highly than the market did.

To learn more about logical conclusion, refer to the link:

brainly.com/question/24658702

#SPJ4

The question is incomplete. Your most probably complete question is given below:

a. Five feet is too stringent; two or three feet would have been more reasonable.

b. The iPhone should have been stronger.

c. Consumers should have paid more attention to Nokia's high standards.

d. Nokia prioritized that attribute more highly than the market did.

e. Apple should have enforced stronger quality controls.

5 0

8 months ago

Which statement or statements apply to a bond which is selling at a premium? I. The market value exceeds the par value. II. The

kherson [118]

Answer:

Its A

Explanation:

I took the test

6 0

1 year ago

Kennel earns service revenue by caring for the pets of customers. Tiny Town Kennel is organized as a sole proprietorship and own

yanalaym [24]

Answer:

a) Increase asset (Cash): Increase equity (Service Revenue) - GUIDE

b) Decrease equity (Salaries): Decrease asset (Cash)

c) Increase asset (Cash): Increase equity (Capital)

d) Increase asset (Receivable Accounts): Increase equity (Service Revenue)

e) Decrease equity (Utility): Increased liabilities (Others payable accounts)

f) Decrease equity (Capital): Decrease assets (Cash)

Explanation:

Accounting Equation Formula :

Assets = Liabilities + Equity

According to the formula transactions must be recorded as follows:

<em>DEBIT:</em> Asset increases, Liabilities decreases, and Equity decrease.

<em>CREDIT:</em> Asset decreases, Liabilities increases, and Equity increase.

3 0

2 years ago