Answer:
Explanation:
1. Measuring net income for a merchandiser is conceptually the same as for a service company. TRUE
2. For a merchandiser, sales less operating expenses is called gross profit.
FALSE
For a merchandiser,sales subtracted from cost of goods sold is called gross profit.
3. For a merchandiser, the primary source of revenues is the sale of inventory.
TRUE
4. Sales salaries and wages is an example of an operating expense. TRUE
5. The operating cycle of a merchandiser is the same as that of a service company.
FALSE
A perpetual inventory system continuously leeps detailed records of the cost of the each purchase and sale. It shows the inventory that should be on hand for energy item.
Answer:
Explanation:
As the loan has not been used yet, it will stay in the Loan account of the bank. The balances on the books for ACME will therefore be,
Reserves - $151,000.
It does not change as loan has not been used yet. If Toshi was to use loan then this figure will reduce because withdrawals are given from the Bank reserves.
Checkable Deposits will increase by the loan amount as that was where Toshi was credited to.
= 140,000 + 28,000
= $168,000
Loans - $28,000
The bank will now have a loan balance of $28,000 on its debit side to reflect the loan it just gave out.
Stock Shares - $286,000.
Not affected by the transaction.
Property - $275,000
Not affected by the transaction.
Best describes owner's equity:
B. The owner's interest or worth in the business.
Owner's equity is equal to the business assets less the business liabilities.
Equity = Assets - Liabilities
In the balance sheet, owner's equity is the term used if the business is a sole proprietorship. If the business is a corporation, the equity portion of the balance sheet states Stockholder's Equity (common stock, preferred stock, paid-in capital in excess of par value, paid-in capital from treasury stock, retained earnings, etc)
Answer:
No, she did not
Explanation:
In this question, we are asked to answer if Mae stayed within her budget, given her budget and the total amount she later spent.
To solve this problem, what we need to do is to add up all what she budgeted. Afterwards we add up all she spent. Then , we see the difference between the two to actually know if she stayed within her budget of not.
We proceed as follows:;
Let’s calculate budgeted amount: This is ; 180 + 475 + 15 + 50 + 65 + 25 + 150 + 30 = $990
Now, let’s calculate how much she later spent; That would be; 182 + 475 + 12 + 65 + 68 + 12.5 + 36 + 150 = $1000.5
We can see that she spent more that the amount she had budgeted. This means she didn’t stay within the total amount allocated for her budget
Answer:
a. the increase in total resource cost associated with the production of one more unit of output.
Explanation:
Consider the following calculation
The MRC=TC at N inputs -TC at (N-1) inputs
The marginal resource cost is an addition cost of a new input hired.
