Business, 06.12.2019 21:31, blink182lovgabbie
During 2021, its first year of operations, ashbaugh industries recorded sales of $21,000,000 and experienced returns of $1,400,000. returns are accounted for as they occur, with additional estimated returns accrued at the end of the period. cost of goods sold totaled $12,600,000,000 (60% of sales). the company estimates that 8% of all sales will be returned. the year-end adjusting journal entry to account for anticipated sales returns would include a:
a) credit to sales returns of $280,000.
b) credit to refund liability of $280,000.
c) debit to sales returns of $1,680,000.
d) debit to cost of sales of $168,000.
Answers: 3
Other questions on the subject: Business
Business, 21.06.2019 16:10, KpopSushi
Which one of the following is most apt to align management's priorities with shareholders' interests? compensating managers with shares of stock that must be held for a minimum of three years holding corporate and shareholder meetings at high-end resort-type locations preferred by managers increasing the number of paid holidays that long-term employees are entitled to receive allowing employees to retire early with full retirement benefits paying a special management bonus on every fifth year of employment
Answers: 1
Business, 22.06.2019 08:00, savannahworkman11
How do communism and socialism differ in terms of the role that government plays in the economy ?
Answers: 1
Business, 22.06.2019 11:30, zitterkoph
Leticia has worked for 20 years in the public relations department of a large firm and has been the vice-president for the past ten years. it is unlikely she will ever be promoted to the top executive position in her firm even though she has directed several successful projects and is quite capable. her lack of promotion is an illustration of (a) the "glass ceiling" (b) the "glass elevator" (c) the "mommy track" (d) sexual harassment
Answers: 3
Do you know the correct answer?
During 2021, its first year of operations, ashbaugh industries recorded sales of $21,000,000 and exp...
Questions in other subjects:
