Answer:
$91,900
Explanation:
The computation of net sales revenue is shown below:-
Here, for reaching the net sales revenue we add the sales revenue and deduct the sales return and allowances with sales discounts
Net sales revenue = Sales Revenue - Sales Returns and Allowances - Sales Discounts
= $95,000 - $1,000 - $2,100
= $91,900
Therefore we have applied the above formula.
Answer:
1)Price has decreased and the effect on quantity cannot be determined
Explanation:
As of good rainfall there is a rise in supply of canola that means the shifting o feh supply curve could be right also the demanded for the vegetable oil would decline that means the demand is falling so the demand curve would shift to the left
Therefore, the equilibrium would fall but it is unable to figure out whether the quantity would rise or not without considering the elasticities of the demand and the supply curve
Hence, the correct option is 1
Answer:
13.28%
Explanation:
return on stockholders' equity = net income after taxes and preferred stock dividends / average stockholders' equity
- net income = $1,429,000
- preferred stocks dividends = 8,000 stocks x $75 x 6% = $36,000
- average stockholders' equity = ($10,317,000 + $10,662,000) / 2 = $10,489,500
return on stockholders' equity = ($1,429,000 - $36,000) / $10,489,500 = 13.28%
Answer:
Dr Retained earnings $14,000
Cr Inventory $14,000
Explanation:
There is a need to make adjustment to the inventory . Therefore,
Adjusted inventory
= New method of $171,000 - Old method of $185,000
= $14,000 decrease
It is to be noted that a lower inventory will have high costs associated with goods sold hence reduces profit/net income for the previous year by $14,000.
Also, the net income reports to retained earnings account hence decreases retained earnings.
Having made the above adjustment, we can assume that the average cost method was used for 2020 books.
