Answer:
Raw Material Inventory A/c Dr. $198,000
To Accounts Payable A/c $198,000
That is the last option of all the given options.
Explanation:
When inventory is purchased then, effect of such purchase will be:
Increase in inventory with the amount of inventory purchased for this, Raw Material Inventory will be debited,
When inventory is purchased on cash then cash is decreased and thus cash is credited, or
It is purchased on credit, then accounts payable liability is created as there will be a liability to pay to such amount to creditors back with the amount of inventory.
Thus correct entry will be:
Raw Material Inventory A/c Dr. $198,000
To Accounts Payable A/c $198,000
<span>Streaming media uses incredible amounts of data, since each pixel shown on the screen is a single piece of 'data', and the higher the resolution the greater amounts of data required. The answer is false.</span>
Answer and Explanation:
The computation of the cost od merchandised sold for each sale and the inventory balance after each sale is presented in the attachment below;
The perpetual inventory is the system which updated the inventory as on a regular basis
While on the other hand, the weighted average cost method is the method in which the average cost is calculated after each every purchase is made
In the calculation below:
1. The weighted average cost of $30.90 come from
= (Total inventory cost) ÷ (Total quantity)
= ($180,000 + $1,674,000) ÷ (60,000 units)
= $30.90
1. The weighted average cost of $31.60 come from
= (Total inventory cost) ÷ (Total quantity)
= ($463,500 + $674,100) ÷ (36,000 units)
= $31.60
Answer:
Luke is probably a libertarian who is a staunch defender of individual rights but also of individual responsibility. For this reason, he thinks that people who are not responsible with their own bodies and either smoke, or get overweight, should pay more for health insurance, because their medical treatment are likely to be more costly.
Matthew is probably a progressive liberal, or a social democrat. He believes that the greater good of society is more important than personal responsibility. He thinks that overweight people or smokers should have a right to health insurance regardless of the state of their bodies.
If the inverse demand function for a monopoly's product is p = 100 2q, then the firm's marginal revenue function is 200 - 2q. Price becomes a function of quantity demanded in the case of an inverse demand curve. The inverse of a demand curve, this indicates that variations in the amount required cause changes in price levels.
The formula for calculating the demand curve for a product yields the graph of an inverse demand curve. The quantity demanded is a function of price on the demand curve. This aligns the horizontal axis with pricing, with quantity demanded on the vertical axis.
To learn more about demand curve, click here.
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