Increase capital markets for example profit market
Answer:
a. Journalize the adjusting entry for the estimated customer allowances.
- Dr Sales returns and allowances 10,500
- Cr Customer refunds payable 10,500
The adjusting entry should = total sales x estimated percent of returns = $1,750,000 x 0.6% = $10,500
b. Journalize the adjusting entry for the estimated customer returns.
- Dr Estimated returns inventory 8,000
- Cr Cost of merchandise sold 8,000
This amount is given in the question, $8,000, so you need to record it as a decrease in COGS and an increase in returns inventory.
Answer:
A.True
Explanation:
Enterprising means having or showing initiative and resourcefulness making it helpful in a office.
Answer:
By using the percentage-of-completion method the $64 million revenue should Parmac recognize in 2018
Explanation:
Percentage-of-completion method : Under this method,
First we have to calculate the percentage which is based on current period cost to total period cost.
After that, multiply the percentage with the revenue so that we get to know how much revenue is being recognized during an particular year.
In mathematically,
Estimated Cost percentage = current period cost ÷ total period cost
= $48 million ÷ $120 million
= 40%
Now,
Revenue recognized = Estimated cost percentage × Revenue
= 40% × $160 million
= $64 million
Hence, by using the percentage-of-completion method the $64 million revenue should Parmac recognize in 2018
Answer:
16%
Explanation:
Calculation for the margin that Auagaa474 needed to earn in order to achieve an ROI of 27.2%
First step is to calculate the Turnover using this formula
Turnover = Sales ÷ Average operating assets
Let plug in the formula
Turnover= $491,300 ÷$289,000
Turnover=1.7
Now let calculate the margin using this formula
ROI = Margin × Turnover
Let plug in the formula
27.2% = Margin × 1.7
Margin = 27.2% ÷ 1.70
Margin=0.16*100
Margin= 16%
Therefore the margin that Auagaa474 needed to earn in order to achieve an ROI of 27.2% will be 16%
