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dimulka [17.4K]
2 years ago
10

On November 2, 2020, Bramble Company has cash sales of $6120 from merchandise having a cost of $3540. The entries to record the

day's cash sales using a perpetual inventory system will include:
Business
1 answer:
Crank2 years ago
7 0

Cash will be debited and sales will be credited by $6,120 and cost of good sold with be debited and inventory will be credited by $3,540.

A journal entry is the act of maintaining or producing records of any economic or the non-economic transaction. An accounting journal, which shows a company's debit and credit balances, records transactions. The journal entry may have many records, each of which is either a debit or a credit.

The journal entry to record days cash sales would be as given below:

Cash (Dr)                     $6,120

   To sales                                 $6120

(Being cash sales of $6,120)

Cost of good sold  (Dr)  $3,540

    To inventory                          $3,540.

(Being cost of cost of good sold)

 

To know more about journal entries click here:

brainly.com/question/14279491

#SPJ4

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A limit of spending of the government, 
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3 years ago
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Some countries share a common currency (e.g., those that participate in the euro), while some other countries peg their currenci
nikklg [1K]

Answer:

The potential of additional regional currencies such as the euro is very important, and for this reason, many economists support the idea. In fact, John Maynard Keynes, one of the most influential economists in history, once proposed not a regional common currency, but a common global currency.

The potential lies in the fact that regional currencies allow to coordinate a common monetary policy in several countries. This common policy means that several countries now have the same interest rates, the same rate of inflation, and the same currency itself, and all these commonalities facilitate the exchange of goods and services.

While the Euro has had drawbacks since its inception, the Euro has survived, and is now one of the strongest curriencies in the world.

If you support the concept, should those currencies be tied to regional economic blocs?

I support the concept, and I agree that they should be tied to regional economic bloc. It would not be very effective to adopt a common currency for countries that are not economically integrated in other areas.

4 0
3 years ago
Ceres corporation acquired a mineral mine for $6,000,000 of which $600,000 was ascribed to land value after the mineral has been
myrzilka [38]

Answer:

$11,880,000

Explanation:

Depletion is an estimated cost of a natural resource that is extracted. This resource is expensed as the extraction is made.

As per given data

Value of Rights = $60,000,000

Land Value = $600,000

As we know land does not depreciate or depleted.

Depletion Value = $60,000,000 - $600,000 = 59,400,000

Estimated resources = 9 million units

Resources extracted in the period = 1.8 million units

Depletion expense is based on ratio of the amount of extraction in period to the total expected resource.

Depletion Expenses = $59,400,000 x 1.8 million units / 9 million units = $11,880,000

8 0
3 years ago
Read 2 more answers
Rory Company has a machine with a book value of $75,000 and a remaining five-year useful life. A new machine is available at a c
Alborosie

Answer: $7,500

Explanation:

In calculating the Incremental income we will add the amount of variable Manufacturing costs Rory Company will save as well as the income they will get from selling the old machine and then subtract the cost price of the new machine.

Starting off we will calculate the amount of savings they will make by using the new machine,

= $12,000 x 5 years

= $60,000

Calculating the Incremental income therefore we have,

= 60,000 + 60,000(from selling old machine) - 112,500 (cost of new machine)

= $7,500

The incremental income of buying the new machine is $7,500.

If you need any clarification do comment.

5 0
3 years ago
Eleni's landscaping company placed two orders. *The first order was for 13 bushes and 4 trees and totaled $487. *The second orde
Maksim231197 [3]

Answer:

Price of One Bush is $ 23

Explanation:

Suppose

bushes = B

trees = T

According to given condition:

13B + 4T = 487 (Eq: 1)

6B + 2T = 232 (Eq: 2)

Multiplying (Eq: 2) by 2

12B + 4T = 464 (Eq: 3)

Substractign (Eq: 3) from (Eq: 1)

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By putting value of B in (Eq: 1)

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4T = 487 - 299

4T = 188

T = 188 / 4

T = 47

Price of One Bush = B = 23

5 0
2 years ago
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