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MariettaO [177]
3 years ago
7

Which of the following accounts would be closed at the end of the year using the perpetual inventory​ system? A. Accounts Payabl

e B. Merchandise Inventory C. Accounts Receivable D. Cost of Goods Sold
Business
1 answer:
grigory [225]3 years ago
5 0

Answer: Option (D). Cost of Good Sold

Explanation: Cost of goods sold is the carrying value of goods sold during a particular period of time. Furthermore, Cost of goods sold refers to the cost of acquiring or manufacturing the products that a company sells during a particular period of time and Costs of goods can include material, labor, and allocated overhead.

Cost of Goods Sold accounts would be closed at the end of the year using the perpetual inventory​ system.

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Lyons Company deducts insurance expense of $210,000 for tax purposes in 2018, but the expense is not yet recognized for accounti
djyliett [7]

Answer:

The total income tax expense for 2019 =152.000. Is not available in the options given by the exercise.

Explanation:

  • Tax on insurance expense deductible for accounting purposes in 2019= 70000*40%=28.000

  • Income tax expense for 2019 = 180.000-28.000=152.000

4 0
3 years ago
Which of the following is the best way to measure who read the company's public relations message and what they thought about it
algol [13]

Answer:

a. Ask consumers for relevant feedback after the campaign

Explanation:

  • The company's public messages in order to establish a relationship with the clients or its costumes have to be essentially exposed through the mediums like campaigns and the media to get relevant feedback form them and helps in the analysis if its future scope.
  • These messages target the key audiences and use all mediums of communication like PR events.
6 0
3 years ago
.According to supply-side fiscal policy, reducing tax rates on wages and profits will:
sergejj [24]

Answer:

The answer is C.

Explanation:

Reducing tax rate according to supply - side policy creates demand pull inflation.

Demand pull inflation is a situation whereby people have more buying power due to the availability of cash thereby leading to high demand and consequentially leading to an increase in the price of goods and services by suppliers.

That is the process where demand outplays supply due  to the high purchasing power thereby causing price to increase which is the demand pull inflation effect.

6 0
3 years ago
On January 1 of the current year, Tell Co. leased equipment from Swill Co. under a 9-year sales-type (finance) lease. The equipm
Salsk061 [2.6K]

Answer:

The yearly depreciation on the asset is $56,111.11

Explanation:

In calculating the right-of-use asset on a lease,the present of value of future cash payments,that is lease liability amount is added to any lease payments paid on or before commencement of lease agreement,direct initial costs,as well as with any likely amount to be incurred in restoring asset's site or dismantling the asset after usage.

In this case,only present value of future cash flows is available,hence that is the amount of right-of-use to depreciated over nine year period.

Depreciation=$505000/9years

                     =$56111.11

7 0
3 years ago
Roanoke Company produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The
Dafna1 [17]

Answer:

Roanoke Company

The standard direct materials cost per bar of chocolate is:

= $0.33.

Explanation:

a) Data and Calculations:

A batch of chocolate = 1,827 bars

Standard Costs for a batch:

Ingredient   Quantity      Price

Cocoa          600 lbs.    $0.40 per lb.

Sugar            180 lbs.    $0.60 per lb.

Milk              150 gal.      $1.70 per gal.

Ingredient   Quantity      Price                 Total Cost

Cocoa          600 lbs.    $0.40 per lb.      $240.00 (600 * $0.40)

Sugar            180 lbs.    $0.60 per lb.         108.00 (180 * $0.60)

Milk              150 gal.      $1.70 per gal.     255.00 (150 * $1.70)

Total cost of batch of chocolate =         $603.00

Cost per bar = $0.33 ($603.00/1,827)

5 0
3 years ago
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