Nash's sells softball equipment. On November 14, they shipped $3500 worth of softball uniforms to Ayayai Middle School, terms 1/10, n/30. On November 21, they received an order from Douglas High School for $2000 worth of custom printed bats to be produced in December. On November 30, Ayayai Middle School returned $400 of defective merchandise. Nash's has received no payments from either school as of month end. What amount will be recognized as accounts receivable, net on the balance sheet as of November 30

Which of the following statements about cash basis accounting is true? a. it is more complicated than accrual basis accounting. b. the irs allows all types of corporations to use it. c. it follows gaap standards. d. it ensures the company always knows how much cash flow it has.

Engberg company installs lawn sod in home yards. the company’s most recent monthly contribution format income statement follows: amount percent of sales sales $ 80,000 100% variable expenses 32,000 40% contribution margin 48,000 60% fixed expenses 38,000 net operating income $ 10,000 required: 1. compute the company’s degree of operating leverage. (round your answer to 1 decimal place.) 2. using the degree of operating leverage, estimate the impact on net operating income of a 5% increase in sales. (do not round intermediate calculations.) 3. construct a new contribution format income statement for the company assuming a 5% increase in sales.

Atoy store has a new game in stock, but customers aren't buying it. which of the following types of inventory increases when customers aren't buying this game? a. work-in-process b. raw materials c. finished goods d. in-transit