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MrRissso [65]
1 year ago
11

An account used in the periodic inventory system that is not used in the perpetual inventory system is?

Business
1 answer:
Feliz [49]1 year ago
4 0

Inventory

It is a type of asset that a company deals in and generates income from sales. Because it is the company's most liquid asset, it is included as the first subhead under the current asset heading on the balance sheet.

A inventory system uses an inventory account, whereas a periodic system does not. Because all purchases are immediately linked to the inventory account under the inventory management system, all purchases are deducted from the inventory account, whereas all purchases are returned are credited to the inventory account

At the conclusion of the period, a physical inventory count is used to update the inventory amounts in a periodic inventory system.

To know more about Inventory refer to brainly.com/question/13405662

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Which type of adjusting entry is used to record a payment a company has not yet made for a service it received?
givi [52]

Answer:

C. Accrued expense

Explanation:

Because the expense has already been incurred, but not yet paid, it is an accrued expense.

5 0
3 years ago
Bike St. Pete currently produces 1,000 tires per month. The following per unit data apply for sales to regular customers: Direct
Tpy6a [65]

Answer:

$78,000

Explanation:

Total cost of producing 2,000 tires:

= [(Direct materials + Direct manufacturing labor + Variable manufacturing overhead) × 2,000 units] + Fixed cost

= [($20 + $3 + $6) × 2,000 units] + ($10 × 2,000 units)

= $58,000 + $20,000

= $78,000

Therefore, the total cost of producing 2,000 tires is $78,000.

8 0
3 years ago
A store manager must decide how many rug cleaners to rent to customers. The manager estimates that the first would yield $200 a
Harrizon [31]

Answer:

The store manager must decide to buy 3

Explanation:

Given that:

  • The first:  $200 a year
  • The second $150
  • The third $75,
  • The fourth $50
  • Interest rate is 12 percent
  • Investment: $500

As we know that the rate of return will be: Income / Investment

So the rate of return of:

  • The first:  $200 / $500 = 0.4 = 40%
  • The second $150 / $500 = 0,3 = 30%
  • The third $75 / $500 = 0.15 = 15%
  • The fourth $50 / $500 = 0.1 = 10%

Only three rug cleaners have the rate of return greater than the interest rate so the store manager must decide to buy 3

5 0
3 years ago
Deferred income taxes are based on the:_______.
Hunter-Best [27]

Answer:

a. current tax rate or future tax rates, depending on when the temporary difference will reverse.

Explanation:

Deferred Tax is not payable to tax Authority it is only a book entry used by Accountants to match Income taxes payable in terms of Income Act and Income taxes expected to be presented to users in financial Statements.

Deferred taxes are based on current tax rate or future tax rates, depending on when the temporary difference will reverse.

3 0
3 years ago
Horizon inc., a local electronics manufacturing company, produces a significant amount of electronic waste every day. the compan
hram777 [196]

This scenario illustrates that Horizon has failed to fulfill its <u>"Legal responsibility".</u>


There are legal responsibilities for most private companies. They will differ contingent upon the idea of the business.  

To stay away from issues later on it is imperative to comprehend your commitments. It is critical to know your commitments and legal responsibilities for working a business. This can be perplexing in light of the fact that directions can apply to a wide range of regions of your business.You are in charge of guaranteeing you have the right business enlistments and that they are kept up and recharged.  

6 0
3 years ago
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