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Sergeu [11.5K]
1 year ago
13

margot inc, which uses the perpetual inventory system, purchases 500 units of inventory to be held for resale. margot should deb

it the purchase to:
Business
1 answer:
4vir4ik [10]1 year ago
5 0

Because Margot Inc, uses the perpetual inventory system, purchases 500 units of inventory to be held for resale. Margot should debit the purchase to Inventory.

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

The perpetual inventory system is an application that enable the entity to estimate inventory continuously using electronic records rather than a physical inventory.

It is thus correct to state that Margot should debit the purchase to Inventory.

Learn more about perpetual inventory system at;
brainly.com/question/25014592
#SPJ12

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On January 1, 2020, Klosterman Company issued $500,000, 10%, 10-year bonds at face value. Interest is payable annually on Januar
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Answer and Explanation:

Journal entry to record the issuance of the bonds.

A.

Jan 1

Dr cash $500,000

Cr bonds payable $500,000

B. Journal entry to record the accrual of the interest

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Dr Interest expense $25,000

Cr Interest Payable $25,000

C. Journal entry to record the payment of interest on January 1, 2021.

Dr Interest expense $25,000

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Interest expense $500,000×10%×1/2=$25,000

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2 years ago
The product life cycle defines the stages that new products move through as they enter, are established in, and ultimately leave
notsponge [240]

Answer:

Market Attribute – Introduction stage - Low sales

Market Attribute – Growth stage - Opportunities increase

Market Attribute – Maturity stage - Intense competition

Market Attribute – Decline stage - Niche segment  

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6 0
3 years ago
Toyota, the giant global automaker, paid a heavy price for its ___________ emphasis on cost control. The resulting problems with
Dafna1 [17]

Answer:

The options for this question are the following:

A. Minimal

B. Superficial

C. Low-budget

D. Excessive

The correct answer is D. Excessive.

Explanation:

In this case, it is useful to consider that cost control is the procedure that allows companies to carry out the regulatory and protection processes against what the client expects to receive. Toyota is a well-known brand, and poor cost management can have an impact on the inflation of its costs and therefore the price of its cars rises considerably. Excessive costs negatively influence the companies' results, and therefore their correct management influences optimal results for the operation.

8 0
2 years ago
Read 2 more answers
Which of the following is true
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 i think the aswer is (A) <span>Checks are the most widely accepted form of payment.</span> 
4 0
3 years ago
Sheridan Company uses a periodic inventory system. For April, when the company sold 450 units, the following information is avai
il63 [147K]

Answer:

Closing inventory - $10,160

Costs of goods sold - $9,600

Explanation:

Under the LIFO Method, the cost of good sold equals to

= April 23 units × cost per unit + Remaining units × cost per unit

= 300 units × $22 + 150 units × $20

= $6,600 + $3,000

= $9,600

Since the firm has sold 450 units, so out of which 300 units sold at a price of $22 and the remaining 150 units sold at a price of $20

The ending inventory equals to

= Remaining units × cost per unit + April 1 × cost per unit

= 270 units × $20 + 280 units × $17

= $5,400 + $4,760

= $10,160

Since on April 23, the 420 units were purchase, out of which 150 units are transferred to the cost of good sold and the remaining units 270 units at $20 is transferred to the ending inventory

8 0
2 years ago
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