A credit to cash, a debit to sales returns and allowances, a credit to inventory, and a debit to cost of goods sold are all recorded.
Perpetual inventory, commonly referred to as continuous inventory, is an inventory management system that uses software to automatically and constantly record each stock movement (such as purchases, returns, consumptions, and write-offs), keeping the system current at all times.
This contrasts with the need to manually update the system on a regular basis when utilizing spreadsheets or paper-and-pencil alternatives.
Barcodes, POS systems, radio frequency identification, and real-time reporting are used by perpetual inventory systems like MRP, ERP, or WMS software to track inventory movements and build a virtual trail of each transaction occurring in the physical inventory. This makes it possible to perform extremely accurate real-time inventory accounting, giving the business a current cost of goods sold at all times.
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Price level stability necessitates intelligent management or regulation for money supply and interest rates.
Money supply alludes to how much money or cash coursing in an economy. The money supply is the aggregate sum of money present in an economy at a specific level.
The record of the absolute money supply is kept by the Central Bank of the country.
Interest rates is the sum a bank charges a borrower and is a level of the head - the sum credited. The financial cost on a credit it's regularly noted on a yearly premise known as the Annual Percentage Rate (APR).
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Answer:
The answer is: the Sarbanes-Oxley Act of 2002
Explanation:
The Sarbanes-Oxley Act (SOX) was elaborated in response to several high profile corporate scandals involving multinational corporations. The most infamous scandal involved Enron Corporation and Arthur Andersen LLP (one of the five largest accounting corporations in the world).
The SOX set new requirements for all publicly traded corporations (especially their upper management) an public accounting firms. Only some parts of the SOX apply to private companies.
Answer:
d. $5,000
Explanation:
Patnode's information is missing, so I looked it up. I found the balance sheet for 2014 and 2015. Hope that it is the same question:
total depreciation expense for 2015 = change in accumulated depreciation (2015 - 2014) + change in accumulated amortization (2015 - 2014) = ($3,000 - $0) + ($3,000 - $1,000) = $3,000 + $2,000 = $5,000
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