Samuels receives $20,000 in cash from a customer on April 1 for the sale of merchandise. The merchandise was carried at $16,000 on Samuels' books and Samuels anticipates having to refund 25 percent. Two months later, the customer returns the expected amount of goods to Samuels. Which of the following line items correctly reflects the journal entries by Samuels on the applicable date? A. The journal entry on April 1 will include a credit to "revenue" of $20,000.
B. The journal entry on April 1 will include a debit to "refund liability" for $5,000.
C. The journal entry on June 1 will include a debit to "refund liability" for $4,000.
D. The journal entry on June 1 will include a credit to "cost of goods sold" for $4,000.

Which of the following would indicate an improvement in a company's financial position, holding other things constant? a. the inventory and total assets turnover ratios both decline.b. the debt ratio increases.c. the profit margin declines.d. the times-interest-earned ratio declines.e. the current and quick ratios both increase.

What is private equity investing? who participates in it and why? how is palamon positioned in the industry? how does private equity investing compare with public market investing? what are the similarities and differences between the two? why is palamon interested in teamsystem? does it fit with palamon’s investment strategy? how much is 51% of teamsystem’s common equity worth? use both a discounted cash flow and a multiple-based valuation to justify your recommendation. what complexities do cross-border deals introduce? what are the specific risks of this deal? what should louis elson recommend to his partners? is it a go or not? if it is a go, what nonprice terms are important? if it’s not a go, what counterproposal would you make?

Powell company began the 2018 accounting period with $40,000 cash, $86,000 inventory, $60,000 common stock, and $66,000 retained earnings. during 2018, powell experienced the following events: sold merchandise costing $58,000 for $99,500 on account to prentise furniture store. delivered the goods to prentise under terms fob destination. freight costs were $900 cash. received returned goods from prentise. the goods cost powell $4,000 and were sold to prentise for $5,900. granted prentise a $3,000 allowance for damaged goods that prentise agreed to keep. collected partial payment of $81,000 cash from accounts receivable. required record the events in a statements model shown below. prepare an income statement, a balance sheet, and a statement of cash flows. why would prentise agree to keep the damaged goods?