Business, 10.09.2021 21:20 sihamabdalla591
On March 10, 2020, Steele Company sold to Barr Hardware 200 tool sets at a price of $ 50 each (cost $ 30 per set) with terms of n/60, f. o.b. shipping point. Steele allows Barr to return any unused tool sets within 60 days of purchase. Steele estimates that:
a. 10 sets will be returned
b. the cost of recovering the products will be immaterial
c. the returned tools sets can be resold at a profit.
Required:
Prepare journal entries for Steele to record (1) the sale on March 10, 2020, (2) the return on March 25, 2020, and (c) any adjusting entries required on March 31, 2020 (when Steele prepares financial statements). Steele believes the original estimate of returns is correct.
Answers: 3
Business, 22.06.2019 12:50, angelrenee2000
There is a small, family-owned store that sells food and household goods in a small town. the owners have good relations with the community, especially with local farmers who supply much of the food. the farmers aren't organized into a cooperative or union, and the store deals with each individually. suppose the store wanted to buy some farms to control the supply of certain vegetables. how would you classify this strategic move? select one: a. horizontal integration b. forward integration c. backward integration d. concentric integration
Answers: 2
Business, 22.06.2019 16:50, bri663
Coop inc. owns 40% of chicken inc., both coop and chicken are corporations. chicken pays coop a dividend of $10,000 in the current year. chicken also reports financial accounting earnings of $20,000 for that year. assume coop follows the general rule of accounting for investment in chicken. what is the amount and nature of the book-tax difference to coop associated with the dividend distribution (ignoring the dividends received deduction)?
Answers: 2
Business, 22.06.2019 19:50, kipper5760
Bulldog holdings is a u. s.-based consumer electronics company. it owns smaller firms in japan and taiwan where most of its cell phone technology is developed and manufactured before being released worldwide. which of the following alternatives to integration does this best illustrate? a. venture capitalism b. franchising c. joint venture d. parent-subsidiary relationship
Answers: 2
Business, 23.06.2019 02:00, honestty21
People-focused workplace (connect, perform) organizations are undergoing changes in response to more people-driven workforces. use your knowledge of bossless workplaces to identify each of he following characteristics as either a challenge or benefit to this new style of workplace. resource allocation decision making training costs
Answers: 2
On March 10, 2020, Steele Company sold to Barr Hardware 200 tool sets at a price of $ 50 each (cost...
Biology, 12.08.2020 04:01
Mathematics, 12.08.2020 04:01
Chemistry, 12.08.2020 04:01
Mathematics, 12.08.2020 04:01