Target return pricing is a variation of break-even pricing
Indicate whether the statement is true or false
TRUE
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Items acquired that either become a part of the finished product or are used in the process of manufacturing the finished product are known as materials
a. True b. False Indicate whether the statement is true or false
Choose the sentence with the correct punctuation
A) Our Alaskan tour explored spectacular places; namely, Denali National Park, Glacier Bay, and Kenai Peninsula. B) Our Alaskan tour explored spectacular places; namely Denali National Park, Glacier Bay and Kenai Peninsula.
Why are ratios useful?
In the current year, Borden Corporation had sales of $2,120,000 and cost of goods sold of $1,260,000. Borden expects returns in the following year to equal 5% of sales. The unadjusted balance in Inventory Returns Estimated is a debit of $18,000, and the unadjusted balance in Sales Refund Payable is a credit of $22,000. The adjusting entry or entries to record the expected sales returns is (are):
A.
| Sales returns and allowances | 84,000? | |
| Sales | 84,000? | |
| Cost of Goods Sold | 45,000? | |
| Inventory Returns Estimated | 45,000? |
B.
| Sales Refund Payable | 84,000? | |
| Accounts receivable | 84,000? |
C.
| Accounts Receivable | 2,120,000? | |
| Sales | 2,120,000? |
D.
| Sales Returns and Allowances | 84,000? | |
| Sales Refund Payable | 84,000? | |
| Inventory Returns Estimated | 45,000? | |
| Cost of goods sold | 45,000? |
E.
| Sales | 2,120,000? | |
| Sales Refund Payable | 106,000? | |
| Accounts receivable | 2,014,000? |