Answer:
D. Debit to Accounts Receivable
Explanation:
Transaction of sale in Perpetual Inventory system will be recorded as follow:
Dr. Cr.
Account Receivable xxx
Sales xxx
Cost of Goods Sold xxx
Merchandise Inventory xxx
There is no entry to purchases, cost of goods sold is debited and inventory is credited. So, the only correct option which is dealt in above transactions.
Answer:
$34,000
Explanation:
Accounting profit = Total revenue - Explicit costs
i.e Total revenue = $50,000
Explicit costs = $12,000 + $1,000 + $3,000 = $16,000
Therefore; $50,000 - $16,000 = $34,000.
Answer:
$2884
Explanation:
Given that:
- 28 employees qualify for one vacation day each
- Average daily wage is $103 per day
So he amount of vacation benefit expense to be recorded for the month of July:
= number of employees * average daily wage
= 28*$103
= $2884
Answer:
The answer is D. All of the options
Explanation:
The Bretton Woods system of of monetary management which was negotiated in 1944 with the aim of creating an international monetary system.
Under this system, representatives of countries agreed to establish a par value of their respective currencies in relation to the dollar. Dollar was pegged at $35 per ounce, and each country was responsible for maintaining its exchange rate within 1 percent of the adopted par value by buying or selling foreign exchanges as necessary.
However, in the early 1970s, President Richard Nixon made the announcement that the United States would no longer be accepting gold in exchange for the dollar, and the put an end to the Bretton Woods system.
Answer:
This statement falls under Classical Management Theory
Explanation:
In this case, managers want to help customers in making their choices easy and simple for them. Yes, its very much true that too many choices create ambiguity, it becomes very hard for the customers to choose from overload of choices, that's the reason Apple only came with one phone model, iPhone. Furthermore, managers want employees to help customers, therefore, they have linked their motivation directly with the incentives and commissions, which directly falls under the classical management theory, which says that employees have certain economic and physical needs which they have to meet and fulfill. Moreover, classical management theory also helps us in the areas of leadership, specialization of labor, profits, and decision making. Here managers want to streamline their operations as well, which is also another feature of management theory.