Answer:
The correct answer is Option A.
Explanation:
The concept of double entry says for every debit entry, there must be a corresponding credit entry. This is necessary for the journal entries to balance, that is, the total of the debit balance must always equal the credit balance.
The building purchased by BOC is an asset. So there is need to debit that account to recognize the asset. Since there was an outflow of cash to the tune of $50,000, we need to credit cash while the remaining balance being financed by mortgage will be credited to recognize the liability.
Answer:
Beginning inventory 50,000
Add: Purchases <u>244,000</u>
294,000
Add: Freight-in <u>14,500</u>
308,500
Less: Purchases return <u>7,400</u>
301,100
Less: Ending inventory <u>20,000 </u>
Cost of goods sold <u>281,100</u>
Explanation:
Cost of goods sold is calculated beginning inventory plus purchases plus freight-in minus purchases return minus ending inventory.
A company's Code of Ethics will generally cover behaviour that, while not illegal, is nevertheless harmful to the company and/or its clients. A good Code of Ethics should include a motivating statement regarding the reason for its existence and the company's purpose.
Answer:
10 ways to increase your wholesale sales
1. Offer specials that bring retailers better-than-wholesale prices.
2.Provide outstanding customer service.
3.Make wholesale ordering, delivery, and billing as seamless as possible.
4 Streamline your operations.
5.Make order recommendations.
6.Create compelling, eye-catching campaigns.
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Answer: C. increase by $ 23 comma 350 . Increase by $23,350.
Explanation:
To solve this we will calculate the current Operating profit and then the operating profit after the increase.
Current Operating Profit,
= (Sales - Cost ) * No. Of units
= ( 8.75 - 4.80)* 75,000
= 3.95 * 75,000
= $296,250
Operating Profit after the Increase
= (Sales - Cost ) * No. Of units
= ( 9.50 - 4.80) * 68,000
= 4.7 * 68,000
= $319,600
The difference is,
= $319,600 - $296,250
= $23,350
If the price increase is implemented, operating profit is projected to increase by $23,350 so option C is correct.