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Charra [1.4K]
2 years ago
13

Products such as refrigerators and washing machines are examples of _____ goods.

Business
1 answer:
kondaur [170]2 years ago
4 0

Products such as refrigerators and washing machines are examples of shopping goods.

A good is an object that satisfies a human need and provides benefits to consumers and others who purchase satisfactory products. A distinction is generally made between transferable goods and non-transferable services.

Merchandise is the tangible item sold to the customer and service is the task performed for the benefit of the recipient. Examples of goods are cars, appliances, and clothing. Examples of services include legal advice, house cleaning, and consulting his services.

Learn more about goods here:brainly.com/question/24373500
#SPJ4

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On January 2, 20Y4, Whitworth Company acquired 40% of the
Gelneren [198K]

Answer:

Journal entries needed for:

a. Purchase of stock

b. Share of Aloof income

c. Dividend

d. Sale of Aloof company stock

a. Purchase of stock

Date                  Account Title                                   Debit                      Credit

Jan 2, 20Y4      Investment in Aloof company       $340,000

                          stock

                         Cash                                                                          $340,000

b. Share of Aloof income

Date                  Account Title                                   Debit                      Credit

Dec 31, 2024     Investment in Aloof company       $72,000

                          stock

                         Income of Aloof Company                                        $72,000

<u>Working:</u>

= 40% * 180,000 income

= $72,000

c. Dividend

Date                  Account Title                                   Debit                   Credit

Dec 31, 2024     Cash                                             $4,000

                         Investment in Aloof company                                  $4,000

                         stock

<u>Working:</u>

= 40% * 10,000 dividend

= $4,000

d. Sale of stock  

Date                  Account Title                                   Debit                      Credit

Dec 31, 2024    Cash                                             $405,000

                          Loss on sales of Aloof                 $3,000

                         company stock

                         Investment in Aloof company                                  $408,000

                         stock

<u>Working:</u>

Value of stock = Purchase price + share of Aloof income - Share of dividend

= 340,000 + 72,000 - 4,000

= $408,000

6 0
3 years ago
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