Answer:
d. Debit Cost of Goods Sold $500.
c. Credit Merchandise Inventory $500.
Explanation:
The journal entry to record the cost of the sale is shown below:
Cost of Goods Sold $500
To Merchandise inventory $500
(To record the cost of the sale)
Here the cost of goods sold is debited as it increased the expenses and credited the merchandise inventory as it reduced the assets
Answer:sorry man, don’t know
Explanation:
Answer: From the comprehension , we can state the following two arguments:
<u><em>(a.) If a poor corn harvest is predicted, prices of corn futures rise.</em></u>
<u><em>(b.) If a bountiful corn harvest is predicted, prices of corn futures fall.</em></u>
Also, it has been predicted that much-needed rain for the corn-growing region will start tomorrow.
Now, if the following is true, then it weakens the above argument:<em><u> Agriculture experts announced today that a disease that has devastated some of the corn crop will spread widely before the end of the growing season.</u></em>
Since, it has already been predicted that it'll rain in requirements with the growth of the crop but if the crops are destroyed before the growing season , then there will be a decrease in cultivation and thus the prices will rise.
<u><em>Therefore, the correct option is (D)</em></u>
Answer:
Income statement is prepared and attached with this answer please find it.
Explanation:
Income statement of both years is made using the ratios / percentage of each element. For example the cost of goods sold is calculated as $585,600 (960,000 x 61.0%) by multiplying the sales value to the respective percentage of cost of goods sold in 2019, which 61.0%. Same as for the 2018 figure.
Question: Supermarkets often offer a great deal on milk, beef,
or eggs to get customers into their stores, knowing many customers will then
purchase other items that have higher markups for the store. These supermarkets
are using a _______________ pricing tactic.
The answer of the question: The supermarkets are using a
leader pricing tactic.
