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mrs_skeptik [129]
3 years ago
7

Sunland Company had the following account balances at year-end: Cost of Goods Sold $60,410; Inventory $15,010; Operating Expense

s $29,380; Sales Revenue $126,580; Sales Discounts $1,340; and Sales Returns and Allowances $2,090. A physical count of inventory determines that merchandise inventory on hand is $12,360.Prepare the adjusting entry necessary as a result of the physical count.
1. Account Titles and Explanation
Debit Credit
2. Account Tiles and Explanation
Debit Credit
Business
1 answer:
charle [14.2K]3 years ago
5 0

Answer and Explanation:

The journal entry is shown below:

Cost of goods sold Dr $2,650   ($15,010 - $12,360)

           To Inventory $2,650

(Being the cost of goods sold)

By recording this we debited the cost of good sold as it increased the expenses and credited the inventory as it decreased the assets so that the correct recording and posting could be done

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Answer:

B) churn

Explanation:

The churn rate refers to the percentage of customers lost by a company (usually during a 1 year span) either because they stopped a subscription or stopped purchasing its products.

The churn rate can also refer to the percentage of employees leaving or quitting a company during one year.

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3 years ago
Page 81 3.2. What determines demand? Consider the market for caramel and butterscotch ice cream toppings. For each price change,
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Answer:

The price of ice cream increases - The demand for caramel topping will decrease

The price of caramel topping decreases - The demand curve for caramel topping will remain the same. 

The price of butterscotch topping increases - The demand for caramel topping will increase. 

Explanation:

If the price of icecream increases , it would become expensive to make them. So producers would reduce quantity supplied of ice cream. As a result of the reduced supply, there would be less demand for caramel toppings.

Caramel and butterscotch toppings are subsituites. If the price of butterscotch toppings increase, the demand for caramel toppings would increase.

If the price of caramel toppings reduce, the quantity supplied would fall. This would lead to a movement along the demand curve and not a shift of the demand curve.

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3 years ago
Mark was recording accounting transactions when he came across a non-standard transaction type. However, based on his knowledge
vlada-n [284]

Answer:

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Explanation:

A conceptual framework is a an analytical method, or technique, that is used in order for the person to be able to see the full picture, and the different variants and factors around it, in an organized manner. Applying this technique will allow a person to discover all the factor within an issue, visualize them and propose viable solutions to them. And this is what Mark did when he came by the non-standard transaction type. He still had to record the transaction, but the usual methods would not work for it. Therefore, Mark made use of his own knowledge and after viewing the problem through the conceptual framework technique, he was able to find a reasonable solution and thus filfill his job.

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3 years ago
Scarcity is a condition that is everywhere and always, since it is based upon two assumptions that reflect permanent universal c
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The world has limited productive resources

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3 0
3 years ago
Orange​ juice, a raisin​ bagel, and a cup of coffee from​ Kelly's Koffee Kart cost a total of ​$2.40. Kelly posts a notice annou
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Answer:

orange juice 0.80 dollar

Bagel 1 dollar

coffe 0.60 dollar

Explanation:

We construct the equation system:

\left \{ {A+B+C = 2.40} \atop {1.5A+1.2B+C = 3}} \right.

We subtract one from another to get an expression without C:

1.5A+1.2B+C - (A+B+C) = 3   -  2.40

0.5A + 0.2B  = 0.6

Then, we solve in the first part to express B as an expression of A

considering the coffe is worth half of the new cost of A

C = 1.5A / 2 = 0.75A

A + B + C = 2.40

A + B + 0.75A = 2.40

B = 2.40 - 1.75A

And now we replace in the other expression to get A:

0.5A + 0.2(2.40 - 1.75A) = 0.6

0.5A - 0.35A + 0.48 = 0.60

0.15A = 0.12

A = 0.12/0.15 = 0.8

Now we solve for C:

C = 0.75A = 0.6

Last, for B:

A + B + C = 2.40

0.8 + B + 0.6 = 2.40

B = 2.40 - 0.8 - 0.6 = 1

8 0
2 years ago
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