Credit memos are created when a product is returned. Credit memos reduce accounts receivable (A/R) by crediting the account, and it writes off the invoice. This also records a debit to the Sales Returns and Allowances account. You have noticed that the A/R clerk has created an abnormally high number of credit memos. You also notice the inventory does not reflect the additional inventory resulting from the sales returns.

Used cars usually have options: higher depreciation rate than new cars lower financing costs than new cars lower insurance premiums than new cars lower maintenance costs than new cars

The food services division of cedar river amusement park inc. is studying the amount families who visit the amusement park spend per day on food and drink. a sample of 40 families who visited the park yesterday revealed they spent the following amounts: see worksheet 1 for data and answer the following questions: a. organize the data into a frequency distribution, using seven classes and 15 as the lower limit of the first class. what class interval did you select? b. what percent of families spent less than $45? c. what percent of families spent $55 or more? d. how many families spent from $65 to 74.99?

You are considering purchasing a company — assets, liabilities, warts, and all. you are aware that sometimes liabilities do not always show up on the balance sheet. discuss five examples of liabilities that may not be explicitly recognized on the balance sheet, making sure to explain why they are liabilities.