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ycow [4]
3 years ago
15

Zenith company inc.'s merchandise inventory account at the end of year 2015 has a balance of $91,820, but a physical count revea

ls that only $90,450 of inventory exists. the adjusting entry to record this $1,370 of inventory shrinkage is:
Business
1 answer:
xenn [34]3 years ago
8 0
The gap of $1370 represents the amount of goods not yet delivered to the company. When a company purchases inventory, on the basis of the accrual principle in accounting, transactions are recorded as they occur even if the actual possession will take place eventually. In this case, the overall amount of merchandise bought is recorded in the company's books. After a physical count, we'll find out that the shrinkage represents stock that is yet to be delivered.
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love history [14]

Answer:

Addison will have $ 1,661 in her account in nine years.

Explanation:

This problem requires us to calculate value of our investment of $ 1000 dollars after nine years. The interest on the investment is 5.8% compounded annually.

This problem can be solved by using simple compounding formula given below.

Future Value = Present Value (1+interest rate%)^-period

Future Value = 1,000 (1+5.8)^9

Future = $ 1,661

5 0
3 years ago
Ormand Company uses variable costing for internal decision-making purposes and has the following information for June: Sales $90
Slav-nsk [51]

Answer:

The manufacturing margin is $460000

Explanation:

Margin is the difference between a company revenue (sales) and the cost of manufacturing. Manufacturing margin is the profit a manufacturer gets from sales of goods or services. Fixed manufacturing costs, variable selling and administrative expenses and Fixed selling and administrative expenses are not used when calculating the manufacturing margin.

Manufacturing margin = Sales - Variable costs of goods sold = $900000 - $440000 = $460000

The manufacturing margin is $460000

3 0
4 years ago
Lyle and Miranda agree that Lyle will fix the refrigeration unit in Miranda’s Bagel Café in exchange for her payment of a debt t
r-ruslan [8.4K]

Answer:

Option B

New Credit

Explanation:

An Intended Beneficiary refers to a third-party beneficiary that will benefit from the contract between two other parties.

In this case, New Credit is the intended beneficiary. This is  because the original contract is between Lyle and Miranda. However, the terms of the contract bring New Credit in to the picture, as a party who is to have some benefits accrued to him before the contract to be fulfilled.

Hence, in this case, New Credit is the intended beneficiary because he is a third party that is benefiting from the fulfillment of Lyle and Miranda's contract

7 0
3 years ago
Which answer choice correctly identifies and describes the two primary types of capital resources?
Tanya [424]

Answer:

Human capital resource, Financial capital

Explanation:

6 0
3 years ago
Which type of nominal decision is characterized by a fairly high degree of product involvement but a low degree of purchase invo
Ann [662]

Brand loyal decision is a type of nominal decision that is characterized by a fairly high degree of product involvement by a customer, but a low degree of purchase involvement.

<h3>What is Brand loyal decision?</h3>

A brand loyal decision can be defined as a type of nominal decision which involves a customer having a fairly high degree of involvement in the products offered by a producer (business organization) but a low level of involvement in its purchase.

This ultimately implies that, a brand loyal decision is characterized by a fairly high degree of product involvement with subsequent low degree of purchase involvement.

Read more on decision-making process here: brainly.com/question/1249089

3 0
2 years ago
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