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4 years ago

What two similarities exist between the attitudes toward the role of governmental leaders in Zanj and ancient china?

Advanced Placement (AP)

2 answers:

tatyana61 [14]4 years ago

5 0

<span>- both maintained power through divine right theory (Mandate of Heaven)
- collected taxes from people</span>

Firdavs [7]4 years ago

4 0

Answer:

1) They both maintained power through divine right theory (Mandate of Heaven) .

-2) They both collected taxes from people.

Explanation:

There are few similarities between the leaderships of the government in Zanj and ancient china. The two government leaders took taxes from the citizen of their countries and also used the principle of divine right to govern their people. The tried to ensure that the people obeyed them and followed the rules and regulations they laid down.

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Question 3

slava [35]

a) The gross margin for March, using the moving-weighted-average method is $5,907.

Journal Entries:

March 7th

Debit Inventory $3,000

Credit Cash $3,000

Debit Cost of Goods Sold $500

Credit Inventory $500

Debit Cash $800

Credit Sales Revenue $800

March 14th

Debit Inventory $3,060

Credit Cash $3,060

Debit Cost of Goods Sold $4,032

Credit Inventory $4,032

Debit Cash $6,400

Credit Sales Revenue $6,400

March 21st

Debit Inventory $3,060

Credit Cash $3.060

Debit Cost of Goods Sold $3,036

Credit Inventory $3,036

Debit Cash $4,800

Credit Sales Revenue $4,800

March 28th

Debit Inventory $3,030

Credit Cash $3,030

Debit Cost of Goods Sold $2,525

Credit Inventory $2,525

Debit Cash $4,000

Credit Sales Revenue $4,000

b) The gross margin for March, using the first-in-first-out method is $5,920.

Journal Entries:

March 7th

Debit Inventory $3,000

Credit Cash $3,000

Debit Cost of Goods Sold $500

Credit Inventory $500

Debit Cash $800

Credit Sales Revenue $800

March 14th

Debit Inventory $3,060

Credit Cash $3,060

Debit Cost of Goods Sold $4,000

Credit Inventory $4,000

Debit Cash $6,400

Credit Sales Revenue $6,400

March 21st

Debit Inventory $3,060

Credit Cash $3,060

Debit Cost of Goods Sold $3,030

Credit Inventory $3,030

Debit Cash $4,800

Credit Sales Revenue $4,800

March 28th

Debit Inventory $3,030

Credit Cash $3,030

Debit Cost of Goods Sold $2,530

Credit Inventory $2,530

Debit Cash $4,000

Credit Sales Revenue $4,000

Workings:

Cost of Goods Sold based on Moving Weighted-Average Method

Date Description Qty Unit Cost Total Cost Ending Balance

March 1st Beginning inventory 6 $500 $3,000 $3,000

March 7th Purchases 6 $500 $3,000 $6,000 ($3,000 + $3,000)

Week 1 Cost of Sales -1 $500 $500 $5,500 ($6,000 - $500)

March 14th Purchases 6 $510 $3,060 $8,560 ($5,500 + $3,060)

Week 2 Cost of Sales -8 $504 $4,032 $4,528 ($8,560 - $4,032)

March 21st Purchases 6 $510 $3,060 $7,588 ($4,528 + $3,060)

Week 3 Cost of Sales -6 $506 $3,036 $4,552 ($7,588 - $3,036)

March 28th Purchases 6 $505 $3,030 $7,582 ($4,552 + $3,030)

Week 4 Cost of Sales -5 $505 $2,525 $5,057 ($7,82 - $2,525)

Sales revenue = 20 x $800 = $16,000

Cost of goods sold = Cost of goods available – Ending inventory

= $10,093 ($15,150 - $5,057)

Gross margin for March = $5,907 ($16,000 - $10,093)

FIFO Method:

Date Description Qty Unit Cost Total Cost Ending Balance

March 1st Beginning inventory 6 $500 $3,000 $3,000

March 7th Purchases 6 $500 $3,000 $6, 000 ($3,000 + $3,000)

Week 1 Cost of Sales -1 $500 $500 $5,500 ($6,000 - $500)

March 14th Purchases 6 $510 $3,060 $8,560 ($5,500 + $3,060)

Week 2 Cost of Sales -8 $500 $4,000 $4,560 ($8,560 - $4,000)

March 21st Purchases 6 $510 $3,060 $7,620 ($4,560 + $3,060)

Week 3 Cost of Sales -6 $3,030 $4,590 ($7,620 - $3,030)

March 28th Purchases 6 $505 $3,030 $7,620 ($4,590 + $3,030)

Week Four Cost Sales -5 $510 $2,550 $5,070 ($7,620 - $2,550)

Sales revenue = 20 x $800 = $16,000

Cost of goods sold = Cost of goods available – Ending inventory

= $10,080 ($15,150 - $5,070)

Gross margin for March = $5,920 ($16,000 - $10,080)

Thus, Velentina's gross margin or profit is the difference between its sales revenue and the cost of goods sold.

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