Business, 12.02.2021 16:40 Cjohnston742
Kristin Company sells 300 units of its products for $20 each to Logan Inc. for cash. Kristin allows Logan to return any unused product within 30 days and receive a full refund. The cost of each product is $12. To determine the transaction price, Kristin decides that the approach that is most predictive of the amount of consideration to which it will be entitled is the probability-weighted amount. Using the probability-weighted amount, Kristin estimates that (1) 10 products will be returned and (2) the returned products are expected to be resold at a profit.
(a) Indicate the amount of Net sales. Net sales $
(b) Indicate the amount of estimated liability for refunds. Liability for Refunds $
(c) Indicate the amount of cost of goods sold that Kristin should report in its financial statements (assume that nonee of the products have been returned at the financial statement date). Cost of Goods Sold $
Answers: 3
Business, 21.06.2019 18:30, steloiryancy
Which of the following is located at the point where the supply and demand curves intersect? a. the equilibrium price. b. the minimum supply. c. the level of efficient production. d. the maximum demand. 2b2t
Answers: 1
Business, 22.06.2019 17:30, brittanyjacob8
Kevin and jenny, who are both working full-time, have three children all under the age of ten. the two youngest children, who are three and five years old, attended eastside pre-school for a total cost of $3,000. ervin, who is nine, attended big kid daycare after school at a cost of $2,000. jenny has earned income of $15,000 and kevin earns $14,000. what amount of childcare expenses should be used to determine the child and dependent care credit?
Answers: 3
Kristin Company sells 300 units of its products for $20 each to Logan Inc. for cash. Kristin allows...
Mathematics, 20.01.2021 01:50
English, 20.01.2021 01:50
Mathematics, 20.01.2021 01:50
Mathematics, 20.01.2021 01:50
Mathematics, 20.01.2021 01:50
Chemistry, 20.01.2021 01:50