When a company gives a cash refund
When a company gives a cash refund on returned merchandise, why doesn't it just reduce Sales Revenue instead of using a contra-revenue account?
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P acquired 80% of S on January 1, 2011 for $120,000. The market value of non-controlling interest was $30,000 on that date. The There a few intercompany transactions between P and S during 2011.
Assume that all the stock was issued on January 1 and that no dividends were paid during the first two years of operation. During the third year, Walland Corporation paid total cash dividends of $736,000.
Each unit requires 3 pounds of raw materials costing $2 per pound. On December 31, 2012, the ending raw materials inventory was 9,000 pounds.
In this case the customer is using Six Sigma to reduce defects in a service.A number of merchants that accept American Express cards fail to place point-of-purchase materials.
Pargo Company budgeted selling expenses of $30,000 in January, $35,000 in February, and $40,000 in March. Actual selling expenses were $31,000 in January, $34,500 in February, and $47,000 in March.
A company was founded in 2010. It acquired $30,000 cash by issuing stock to investors and an additional $20,000 cash by borrowing from creditors.
On Sept. 25, 2010 a hurricane destroyed the work in process inventory of Biloxi Corporation. At the time, the company was in the process of manufacturing two custom jobs (B325 and Q428).
Micro chip computers, please see attached project description,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
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