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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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Which of the following is a characteristic of a certificate of deposit?
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Answer:

C). It requires that the funds be kept in the account for a minimum fixed period of time e.g. 90 days

<u>Multiple- choices</u>

A).  You have to earn at least $100,000 in salary to be allowed to buy a CD

B).  It is just a different name for a savings account

C). It requires that the funds be kept in the account for a minimum fixed period of time e.g. 90 days

D). Only large banks offer them

Explanation:

Banks and other financial institution offer certificates of deposit (CD) saving account to customers who intend to limit the number of withdraws. This type of savings account pays a higher interest rate than the regular savings account. A customer wishing to open this account agrees with the bank on the duration that they want to save the money.  Withdrawals can only be made after the agreed period lapses. Should the customer demand for their money before the end of the agreed period,  they may get penalized by the banks.

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3 years ago
What role, if any, should the U.S. government take in this issue of setting fair wages in developing countries?
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Answer:

Corporations of the United States should be tracked by the U.S government to ensure that workers' rights in developing countries should not be compromised.

Explanation:

In many developing countries political leaders are afraid that if wage rates are enforced on big corporations they could be forced off global markets. Foreign investment capital is significant to the economy of developing countries and there is always fear that the loss of such investment may break the economies of these countries. The government of the U.S should ensure vigorous monitoring programs that require businesses to report the location of international factories publicly so that human rights organizations can track their actions independently.

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3 years ago
“the probability of event b, given that event a has occurred” is known as a __________ probability.
bagirrra123 [75]
The probability of event B given that event A has already occurred is known as a CONDITIONAL PROBABILITY. 
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3 years ago
A geologist is a part of what career field? A. Mining B. plant care C. agriculture
Crank

Answer:

agriculture

Explanation:

because they study plants/geology

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Record year-end adjusting entries (LO3-3) Below are transactions for Wolverine Company during 2021. On December 1, 2021, Wolveri
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Answer: See explanation

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1. Dr Deferred revenue 2,000

Cr. Rent revenue 2,000

2 Dr. Insurance expense 6,600

Cr. Prepaid insurance 6,600

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Cr Salaries payable 3,000

4 Dr Interest expense 250

Cr Interest payable 250

5 Dr Supplies expense 3,900

Cr Supplies. 3900

N. B:

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= $4,000 x 1/2

= $2,000

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= $13,200 x 6/12

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Supplies expense:

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