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kykrilka [37]
2 years ago
11

Walmart sells a bike that cost $100 to a customer for $250 cash. using a perpetual inventory system, the entry to record the sal

e includes a debit to and credit to for $250. the entry to record the cost of the sale includes a debit to cost of goods sold and a credit to for $100.
i. true
ii. false
Business
1 answer:
hjlf2 years ago
3 0

1. Using a perpetual inventory system, the entry to record the sale for Walmart includes a debit to the <u>Cash account</u><u> </u>and a credit to the <u>Sales Revenue account</u> for $250.

2. The entry to record the cost of the sale under the perpetual inventory system includes a debit to the <u>cost of goods sold</u> and a credit to <u>Inventory</u> for $100.

<h3>What is the perpetual inventory system?</h3>

The perpetual inventory system can be differentiated from the periodic inventory system by the fact that perpetual inventory continuously updates the inventory value without relying on the physical inventory count.

Under this system, the cost of goods sold is <u>debited</u> and the inventory account is <u>credited</u>.

Learn more about the perpetual inventory system at brainly.com/question/25014592

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Stan plans to invest $100,000 in either a risk-free bond or a portfolio of 100 stocks. If he buys the bond, it will be worth $10
Masteriza [31]

Answer:

The stock investment is preferred

Explanation:

The bond give a holding period yield of 14% which is calculated thus:

holding period yield =(p1-p0)/p0+return of 7%

                                   =(107,000-100,000)/100,000+7%

                                      =7%+7%

                                      =14%

The stock investment of 15% is preferred over the bond return of 14%,since the stock  portfolio comprises of assets that are not correlated which implies adverse performance in one stock asset does not affect the performance of others,invariably the 15% return is near guarantee.

5 0
3 years ago
Which of the following is true of a person with a high credit score?
dsp73
Your credit score is used as indicator of your creditworthiness. This means how likely you are to pay off debts and other financial obligations. A person with a high credit score should have a high credit worthiness, or likelihood to be responsible with credit.

A person who pays bills on time has demonstrated that she takes her financial obligations seriously, and this trait positively affects her credit score. The answer is A. 

B and C would most likely be associated with a person with a low credit score, since they demonstrate lower creditworthiness. 
5 0
3 years ago
Read 2 more answers
In order to provide more complete information, u.s. gaap allows that any significant noncash investing and financing activities
vampirchik [111]

It is reported as foot notes  in cashflow statement or in the notes of financial statements.

When an income statement is converted to cash flows from operational operations, noncash items like as depreciation and nonoperating profits and losses are not included. Non-cash investing and financing entails making an investment or purchase using financial instruments other than cash.

The Generally Accepted Accounting Principles (GAAP) are a collection of generally observed financial reporting accounting standards and regulations. The four main constraints of GAAP are objectivity, the materiality, the consistency, and the prudence.

Companies are required by both IFRS and US GAAP to declare any substantial non-cash investment and financing operations, either as a footnote at the bottom of the statement of the cash flows or in  notes to the financial statements.

Therefore, the answer is the bottom of the statement of  the cash flows or in the notes to  financial statements.

To know more about U.S Gaap click here:

brainly.com/question/17327177

#SPJ4

6 0
2 years ago
A ________ may be desirable as a market entry strategy if one company does not have the necessary financial, physical, or manage
makvit [3.9K]

Answer:

joint venture

Explanation:

A joint venture is basically a business entity set up by two other companies (or even more companies that associate with each other) to serve a specific market or accomplish a specific project or task, but the two parent companies continue to operate separately form each other. For example, in China the government used to require that foreign companies form joint ventures with local companies in order for them to start operating there.

6 0
3 years ago
ABC Limited, Inc., sells its product in a perfectly competitive market for a price of $15 per unit and hires workers at a daily
Svetach [21]

Answer:

The company's profit will remain unchanged.

Explanation:

The new worker will increase costs by $75 per day while the total sales will increase by $75 per day (= 5 units x $15). The only way the company increases its profit is that they sell at least 6 more units per day.

3 0
3 years ago
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